August 13, 2020  
 
  Entrepreneurial Resources - Advice for Tennessee Entrepreneurs  
  Manchester, Tennessee Resources for Entrepreneurs  
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Starting a Business in Manchester, Tennessee

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

Will You Be a Good Entrepreneur?

Most new ventures fail, in part because the founder did not have the tenacity and/or the skills to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.

Before you move forward with starting a business, be sure to do these three things:

  • Talk to other entrepreneurs in Manchester. They are usually very willing to share their insights on the ups and downs of being 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. Others sometimes know you better than you know yourself.

Manchester, Tennessee Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 12529
5-9 Employees 5457
10-19 Employees 3213
20-49 Employees 1989
50-99 Employees 765
100-249 Employees 510
250-499 Employees 204
500-999 Employees 51
1000+ Employees 0
All Manchester Businesses 24718

As a new Manchester entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Manchester 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
Ambulance Services 2
Automotive Parts and Accessories Stores 5
Beauty Salons 5
Bed-and-Breakfast Inns 1
Beer, Wine, and Liquor Stores 4
Book Stores 1
Burial Casket Manufacturing 1
Business Associations 3
Car Washes 2
Caterers 1
Child Day Care Services 7
Coin-Operated Laundries and Drycleaners 1
Commercial Lithographic Printing 1
Community Food Services 2
Computer and Software Stores 2
Confectionery and Nut Stores 1
Consumer Lending 4
Convenience Stores 2
Couriers 1
Credit Unions 1
Dental Laboratories 1
Diagnostic Imaging Centers 1
Drinking Places (Alcoholic Beverages) 1
Drywall and Insulation Contractors 1
Electric Power Distribution 1
Electrical Contractors 3
Elementary and Secondary Schools 1
Engineering Services 4
Exterminating and Pest Control Services 1
Family Clothing Stores 1
Family Planning Centers 1
Farm Supplies Merchant Wholesalers 2
Fitness and Recreational Sports Centers 1
Floor Covering Stores 1
Flooring Contractors 1
Florists 3
Fossil Fuel Electric Power Generation 1
Full-Service Restaurants 18
Funeral Homes and Funeral Services 2
Furniture Stores 3
General Automotive Repair 6
General Medical and Surgical Hospitals 2
General Rental Centers 1
General Warehousing and Storage 2
Gift, Novelty, and Souvenir Stores 1
Glass and Glazing Contractors 1
Golf Courses and Country Clubs 1
Grantmaking Foundations 1
Hardware Stores 2
Home Health Care Services 1
Homes for the Elderly 1
Household Appliance Stores 2
Insurance Agencies and Brokerages 10
Investment Advice 2
Janitorial Services 3
Jewelry Stores 3
Landscape Architectural Services 1
Landscaping Services 11
Language Schools 1
Lessors of Other Real Estate Property 1
Limited-Service Restaurants 18
Livestock Merchant Wholesalers 1
Logging 1
Machine Shops 1
Masonry Contractors 2
Medical Laboratories 1
Metal Tank (Heavy Gauge) Manufacturing 2
Motor Vehicle Metal Stamping 1
Motor Vehicle Towing 1
New Car Dealers 5
Newspaper Publishers 1
Nursing Care Facilities 2
Office Administrative Services 1
Office Equipment Merchant Wholesalers 1
Office Supplies and Stationery Stores 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 4
Offices of Dentists 7
Offices of Lawyers 9
Offices of Optometrists 1
Offices of Podiatrists 1
Outdoor Power Equipment Stores 1
Paint and Wallpaper Stores 2
Painting and Wall Covering Contractors 1
Pet and Pet Supplies Stores 1
Pharmacies and Drug Stores 5
Photography Studios, Portrait 3
Power-Driven Handtool Manufacturing 1
Quick Printing 1
Radio Stations 2
Ready-Mix Concrete Manufacturing 1
Real Estate Credit 1
Residential Remodelers 2
Roofing Contractors 2
Sawmills 2
Securities Brokerage 2
Sheet Metal Work Manufacturing 1
Shoe Stores 2
Siding Contractors 1
Sign Manufacturing 1
Site Preparation Contractors 2
Special Needs Transportation 1
Sporting Goods Stores 1
Telemarketing Bureaus 1
Telephone Answering Services 1
Temporary Help Services 2
Tire Dealers 2
Tobacco Stores 1
Used Car Dealers 5
Used Household and Office Goods Moving 1
Used Merchandise Stores 3
Veterinary Services 4
Video Tape and Disc Rental 2
Warehouse Clubs and Supercenters 1
Wineries 1
Wired Telecommunications Carriers 1
Women's Clothing Stores 1

Have You Considered Buying an Existing Manchester Business?

An excellent way to get started in business is to Buy a Business in Tennessee. Follow that link and you may find several good businesses for sale in Manchester.

Before buying a business, be sure to read this article: Buying a Business.

Forming a Company in Manchester, Tennessee

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.

When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.

Incorporating 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 Tennessee, you don't necessarily have to incorporate in Tennessee. In fact, you can incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.

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 should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Manchester, Tennessee, our web page covering Incorporating in Tennessee may be a useful resource if you decide to incorporate in Tennessee.

Raising Capital for Your Venture

Raising money to fund your new Manchester business will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

Take advantage of our many articles on raising capital, such as Business Line of Credit.

For Manchester entrepreneurs who want to raise money for a new venture, check out our List of Tennessee Angel Investors and our List of Tennessee Venture Capital Firms.

Marketing Your New Venture

To grow your Manchester business, having an excellent marketing plan is fundamental to your beating the competition.

You can learn quite a bit about marketing on our site. Viral Marketing discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

What's Next?

Most new Manchester businesses underestimate the number of challenges they will face.

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

This site is all about helping entrepreneurs in Manchester and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Manchester, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Manchester, Tennessee

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

 

 

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