Tennessee Business Startup Guides
Opening a Business in Martin, Tennessee
Contemplating starting a business in Martin, Tennessee? We walk you through the process of opening a business in Martin.
Martin, Tennessee Demographic Information
Martin has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Martin demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Martin.
Businesses
As a new Martin entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Martin 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 a Franchise Opportunity Right For You?
As you drive around Martin, you'll see that franchises make up a large percentage of local businesses. 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 How to Get More Franchisees. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Representative franchise opportunities include SimplySold Real Estate and ELS Language Centers. Alternatively, you can browse franchise categories, such as Tanning Franchises and Marketing, Sales and Advertising Franchises.
Note on Martin Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Martin.
Should You Buy an Existing Martin Business?
We've created a handy website page for those who want to Buy a Business in Tennessee. Follow that link and you can review several good businesses for sale in Martin.
For anybody who wants to buy a business, we recommend reading this useful article: Buying a Business.
Forming a Company in Martin, Tennessee
A critical step is ensuring 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 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. As it turns out, 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 Why Incorporate in Delaware. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Martin, Tennessee, our information on Incorporating in Tennessee may be a useful resource if you decide to incorporate in Tennessee.
Don't Skip the Business Plan
A business plan is essential in laying a solid foundation for your business success. Indeed, your business plan is your game plan for how you hope to grow your business. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Reasons to Write a Business Plan. You should also take advantage of free business counselors available to you through your local SCORE chapter in Tennessee.
Where to Get Money to Start a Company
Getting your Martin 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.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.
For Martin entrepreneurs with great ambition but a shortage of investment capital, we have assembled a List of Tennessee Angel Investors and our List of Tennessee Venture Capital Firms.
What's Next?
As an entrepreneur in Martin, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Martin 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 Martin, Tennessee
Here are more links that we believe will help you be successful in starting a business in Martin.
- Resources for Martin, Tennessee Entrepreneurs - Browse a variety of resources we've collected to assist Martin 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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