Texas Business Startup Guides
Opening a Business in Plano, Texas
Contemplating starting a business in Plano, Texas? We walk you through the process of opening a business in Plano.
Are You Sure You Want to Do This?
Running your own business is demanding, much more challenging than working as an employee. Are you positive 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:
- Speak with other entrepreneurs in Plano. Ask them candidly what it's like to run a business.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Plano, Texas Demographic Information
Plano has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Plano demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Plano.
Businesses
As a new Plano entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Plano 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
Have You Considered Buying an Existing Plano Business?
If you have some capital to play with, you may want to Buy a Business in Texas. Follow that link and you might discover several good businesses for sale in Plano.
If you are serious about buying a business, you may want to read this article: How to Buy a Business.
Forming a Company in Plano, Texas
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will protect 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.
Incorporating 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 Texas, you don't necessarily have to incorporate in Texas. In fact, you can incorporate wherever you want. 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. To learn the basics of company formation, browse articles on our site, such as Dissolving a Corporation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Plano, Texas, our information on Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
Don't Skip the Business Plan
Having a business plan is vital in laying a solid foundation for your business success. In effect, 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 makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Business Plan Contests. You should also take advantage of free business counselors available to you through your local SCORE chapter in Texas.
Bring in Revenues
Do you know how to sell? In order to attract customers to your new Plano business, you need to focus on sales.
Clever sales techniques can transform any business from good to great. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Closing Sales offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Next Steps
As an entrepreneur in Plano, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help Plano 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 Plano, Texas
Here are more links that we believe will help you be successful in starting a business in Plano.
- Resources for Plano, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Plano 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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