August 6, 2020  
 
  Entrepreneurial Resources - Advice for Indiana Entrepreneurs  
  Shoals, Indiana Resources for Entrepreneurs  
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Opening a Business in Shoals, Indiana

Contemplating starting a business in Shoals, Indiana? We walk you through the process of opening a business in Shoals.

Which Business to Choose?

An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Free Business Ideas.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Mailing List Service guide or our Opening a Tax Return Preparation Accountants Business guide.

Don't forget that starting a business in Shoals has some implications. Some businesses will do better in Shoals than others. A critical consideration is whether Shoals demographics mesh well with your startup concept.

Shoals, Indiana Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 72
5-9 Employees 24
10-19 Employees 27
20-49 Employees 12
50-99 Employees 6
100-249 Employees 3
250-499 Employees 3
500-999 Employees 0
1000+ Employees 0
All Shoals Businesses 147

As a new Shoals entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Shoals 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
Automotive Parts and Accessories Stores 1
Beer, Wine, and Liquor Stores 1
Civic and Social Organizations 1
Commercial Lithographic Printing 1
Couriers 1
Curtain and Drapery Mills 1
Drinking Places (Alcoholic Beverages) 2
Electrical Contractors 2
Florists 1
Full-Service Restaurants 2
Funeral Homes and Funeral Services 1
General Automotive Repair 1
Gypsum Product Manufacturing 2
Hardware Stores 1
Landscaping Services 1
Limited-Service Restaurants 2
New Car Dealers 1
Newspaper Publishers 1
Offices of Lawyers 2
Periodical Publishers 1
Petroleum Bulk Stations and Terminals 1
Used Car Dealers 1
Video Tape and Disc Rental 1
Water Supply and Irrigation Systems 1

Is a Franchise Opportunity Right For You?

As you drive around Shoals, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?

Most business experts recommend that you look into purchasing a franchise. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Franchise Due Diligence. Become a franchising expert of sorts by reading more of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Snelling Personnel Services and Doc Chey's Asian Kitchen. Alternatively, you can browse franchise categories, such as Golf Franchises and Landscaping Franchises.

Note on Shoals Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Shoals.

Naming the Business

Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.

Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.

For other considerations regarding naming a company, we recommend this article: Branding Advice.

On a final note, given that you are planning on starting a business in Shoals, it's very important that you make sure no other Indiana company is using the business name you want to use.

Where to Get Money to Start a Company

Getting your Shoals business the capital it needs to succeed requires strong organization skills and perseverance. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Bank Credit Lines.

For Shoals entrepreneurs on the hunt for startup funding, you'll want to take a look at our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.

Ramping Up Sales

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Shoals or are selling to customers throughout Indiana, the United States or even the world, you have to be able to sell.

Not knowing how to sell can result in lost customers and minimal market share. The good news is we can help you to make selling a big competitve advantage for your new firm.

Landing Big Customers is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Advancing Your Entrepreneurial Skills

Good entrepreneurs recognize that they need to continually improve.

As an entrepreneur who lives in Shoals, Indiana, you will want to take advantage of the many programs available at nearby Indiana universities, colleges and community colleges. It's also worthwhile to see if there are any Shoals networking organizations.

Now It's Up To You

You have a dream -- starting a business in Shoals. 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 Shoals businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Shoals, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Shoals, Indiana

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

 

 

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