Tennessee Business Startup Guides
Opening a Business in Powell, Tennessee
Contemplating starting a business in Powell, Tennessee? We walk you through the process of opening a business in Powell.
Are You Ready for the Challenges of Being an Entrepreneur?
Most new businesses don't make it, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
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:
- Talk to other entrepreneurs in Powell. Listen closely to their experiences and see if you think you too can be successful.
- 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. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
What Type of Business Should You Start?
An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to 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 Starting a Dance Club guide or our Starting a Tatoo Parlor guide.
Remember that your new business will be in Powell. Some businesses will do better in Powell than others. Only by spending some time analyzing Powell demographics can you decide if there will be strong demand for your business idea.
Powell, Tennessee Demographic Information
Powell has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Powell demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Powell.
As a new Powell entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Powell 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.
What About Franchising Opportunities?
As you drive around Powell, you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?
Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as Why Franchises Fail. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Note on Powell Franchise Opportunities: To find out if a franchise you are interested in is available in Powell, you will need to get in direct contact with the franchisor.
Don't Skip the Business Plan
A business plan is vital in laying a solid foundation for your business success. In effect, a business plan is a written description of the future you envision for your business. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Reasons to Write a Business Plan. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Tennessee.
Marketing Your New Venture
To grow your Powell business, you need a excellent marketing plan.
We have some excellent resources on this site for entrepreneurs who are working on marketing plans. Advertising on Google 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.
Never Give Up
Most new Powell 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 Powell 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 Powell, Tennessee
Here are more links that we believe will help you be successful in starting a business in Powell.
- Resources for Powell, Tennessee Entrepreneurs - Browse a variety of resources we've collected to assist Powell 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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