August 3, 2020  
 
  Entrepreneurial Resources - Advice for Texas Entrepreneurs  
  Groesbeck, Texas Resources for Entrepreneurs  
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Starting a Business in Groesbeck, Texas

Thinking about starting a business in Groesbeck, Texas? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Groesbeck.

Are You Sure You Want to Do This?

Before quitting your day job, take inventory of your entrepreneurial instincts and capabilities.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

  • Grab a meal or cofee with other entrepreneurs in Groesbeck. Ask them candidly what it's like to run a business.
  • Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
  • Involve a spouse, family member or trusted friend in the decision. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Groesbeck, Texas Demographic Information

Groesbeck has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Groesbeck demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Groesbeck.

Business Size# of
Businesses
1-4 Employees 360
5-9 Employees 162
10-19 Employees 42
20-49 Employees 66
50-99 Employees 18
100-249 Employees 12
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Groesbeck Businesses 660

As a new Groesbeck entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Groesbeck 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.

Business Type # of
Businesses
Automotive Parts and Accessories Stores 3
Beauty Salons 1
Beer, Wine, and Liquor Stores 1
Business Associations 1
Cable and Other Program Distribution 1
Child and Youth Services 1
Child Day Care Services 1
Convenience Stores 1
Electrical Contractors 1
Facilities Support Services 1
Food Service Contractors 3
Fossil Fuel Electric Power Generation 1
Full-Service Restaurants 7
Funeral Homes and Funeral Services 1
Furniture Stores 2
General Freight Trucking, Local 1
General Medical and Surgical Hospitals 1
Hardware Stores 1
Household Appliance Stores 1
Industrial Launderers 1
Insurance Agencies and Brokerages 5
Internet Service Providers 1
Janitorial Services 1
Landscaping Services 3
Limited-Service Restaurants 3
Machine Shops 1
Newspaper Publishers 1
Nursing Care Facilities 2
Offices of Dentists 1
Offices of Lawyers 6
Pharmacies and Drug Stores 2
Residential Remodelers 1
Septic Tank and Related Services 1
Tax Preparation Services 1
Tire Dealers 1
Title Abstract and Settlement Offices 2
Travel Trailer and Camper Manufacturing 1
Veterinary Services 1
Water Supply and Irrigation Systems 1
Wholesale Trade Agents and Brokers 1
Wired Telecommunications Carriers 1

Have You Considered Franchising?

As you drive around Groesbeck, you'll notice that many local entrepreneurs have gone the franchising route. Is it perhaps smarter to franchise a business instead of doing it from scratch.

Our recommendation is that you evaluate the possibility of your buying a franchise opportunity. This site has dozens of articles on franchising, such as Common Franchisee Mistakes. 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.

Representative franchise opportunities include Sir Speedy, Inc. and Sutton. Alternatively, you can browse franchise categories, such as Consulting Franchises and Health Franchises.

Note on Groesbeck Franchise Opportunities: To find out if a franchise you are interested in is available in Groesbeck, you will need to get in direct contact with the franchisor.

The Role of the Business Plan

A business plan is essential in laying a solid foundation for your business success. Indeed, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.

If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Texas.

Raising Money for Your New Venture

Getting your Groesbeck business the capital it needs to succeed is not an easy task. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.

Recognizing this challenge, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.

For Groesbeck entrepreneurs with great ambition but a shortage of investment capital, you'll want to take a look at our List of Texas Angel Investors and our List of Texas Venture Capital Firms.

Marketing Your New Business

To rise above the crowd in Groesbeck and accelerate your business, having an excellent marketing plan is fundamental to your doing well.

We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Sponsoring Local Events is a good read to get your marketing thoughts flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Ramping Up Sales

Being able to sell is essential to your business success. Whether you are focused on selling local customers in Groesbeck or are selling to customers throughout Texas, the United States or even the world, you have to be able to sell.

Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Selling with Questions is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Next Steps

You have a dream -- starting a business in Groesbeck. To achieve your dream, you have to persevere, even when the odds are against you.

Owning your own business will be a daunting task, but you can do it.

This site is all about helping entrepreneurs in Groesbeck and elsewhere to achieve real success. 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 Groesbeck, Texas

Here are more links that we believe will help you be successful in starting a business in Groesbeck.

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety