Tennessee Business Startup Guides
Start a Business in Livingston, Tennessee
Are you starting a business in Livingston, Tennessee? This article discusses the most important things to consider when opening a business in Livingston.
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:
- Talk to other entrepreneurs in Livingston. Ask them candidly what it's like to run a business.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? We recommend that you read Good Business Ideas.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Carpet, Rug, & Upholstery Services Business guide or our Opening a Woolen Fabrics Wholesale & Manufacturers Business guide.
Don't forget that you are starting a business in Livingston. Some businesses will do better in Livingston than others. Study Livingston demographics and do a competitive analysis as part of your startup planning process.
Livingston, Tennessee Demographic Information
Livingston has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Livingston demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Livingston.
Businesses
As a new Livingston entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Livingston 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.
Businesses
Is Franchising a Better Option?
Visit the business district of Livingston and you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. But is franchising the right option for you?
Our advice is to consider franchising as an option. We have many articles on franchises, such as Growth Trends in Franchising. Get a thorough education on franchising by browsing all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include A-Pro Home Inspection Services and Johnnie's Pizza. Alternatively, you can browse franchise categories, such as Carpet Care Franchises and Deli Restaurant Franchises.
Note on Livingston Franchise Opportunities: To find out if a franchise you are interested in is available in Livingston, you will need to get in direct contact with the franchisor.
Forming a Company in Livingston, Tennessee
It's very important that you form your business as a legal structure. 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 common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Tennessee, it doesn't mean you are required to incorporate in Tennessee. 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 Company Formation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Livingston, Tennessee, our information on Incorporating in Tennessee may be a useful resource if you decide to incorporate in Tennessee.
Don't Forget to Create a Business Plan
Having a business plan is vital in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Failure to write a business plan makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Reasons to Write a Business Plan. You can also get free business counselors available to you through your local SCORE chapter in Tennessee.
Next Steps
You have a dream -- starting a business in Livingston. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Livingston 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 Livingston, Tennessee
Here are more links that we believe will help you be successful in starting a business in Livingston.
- Resources for Livingston, Tennessee Entrepreneurs - Browse a variety of resources we've collected to assist Livingston entrepreneurs.
- Tennessee Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Tennessee.
- Tennessee Small Business Development Center - If you are a small business owner, entrepreneur or you are thinking about starting a new business, the Tennessee Small Business Development Center (TSBDC) is ready to help you every step of the way!
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