Texas Business Startup Guides
Opening a Business in Friona, Texas
Contemplating starting a business in Friona, Texas? We walk you through the process of opening a business in Friona.
Is Becoming an Entrepreneur Right for You?
An entrepreneurial life is difficult, much harder than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Talk to other entrepreneurs in Friona. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Friona, Texas Demographic Information
Friona has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Friona demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Friona.
As a new Friona entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Friona for each business category. By looking at this chart, you can get a general sense for how much competition there is in the business niche that you are pursuing.
What About Franchising Opportunities?
As you drive around Friona, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
Most business experts recommend that you consider franchising as an option. To help you learn more about franchising, we've gathered a ton of articles on franchising, including How to Franchise. Become a franchising expert of sorts by reading more of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Note on Friona Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Friona.
Have You Considered Buying an Existing Friona Business?
An excellent way to get started in business is to Buy a Business in Texas. Follow that link and you may find several good businesses for sale in Friona.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Forming a Company in Friona, Texas
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Texas, you don't necessarily have to incorporate in Texas. In fact, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Friona, Texas, our information on Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
Don't Forget to Create a Business Plan
A business plan is essential in laying a solid foundation for your business success. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan is a recipe for disaster.
Advancing Your Entrepreneurial Skills
The best entrepreneurs recognize that they need to continually improve.
With your business being located in Friona, Texas, you will want to take advantage of the many programs available at nearby Texas universities, colleges and community colleges. It's also wise to see if there are any networking groups or organizations in which Friona entrepreneurs get together to network and trade their business experiences.
As an entrepreneur in Friona, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Friona businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Friona, Texas
Here are more links that we believe will help you be successful in starting a business in Friona.
- Resources for Friona, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Friona entrepreneurs.
- Texas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Texas.
- Houston, Texas Small Business Development Center - Serving 32 counties in Southeast Texas through 14 business consulting and training centers, the Small Business Development Center Network contributes to the growth and prosperity of the Texas Gulf Coast communities.
- North Texas Small Business Development Center - The NTSBDC Network promotes small business success by providing management education.
- Northwest Texas Small Business Development Center - The Northwest Texas Small Business Development Center was established with Texas Tech University in 1986. This regional program serves over ninety thousand square miles including ninety-five counties with a population base of approximately 1.8 million people. This region is serviced by six centers located in Lubbock, Amarillo, Midland/Odessa, Abilene, Stephenville, and Wichita Falls.
- South-West Texas Border SBDC Network Texas Small Business Development Center - The South-West Texas Border Small Business Development Center (SBDC) provides consulting and technical assistance to the small business community.
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