Minnesota Business Startup Guides

Start a Business in Tracy, Minnesota

Are you starting a business in Tracy, Minnesota? This article discusses the most important things to consider when opening a business in Tracy.

Will You Be a Good Entrepreneur?

Most new ventures do not succeed, in part because the business owner did not have the entrepreneurial skills and traits needed 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:

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

Tracy, Minnesota Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
549
5-9 Employees
198
10-19 Employees
99
20-49 Employees
72
50-99 Employees
18
100-249 Employees
9
250-499 Employees
0
500-999 Employees
0
1000+ Employees
0
All Tracy Businesses
945

As a new Tracy entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Tracy 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
1
Automotive Parts and Accessories Stores
1
Baked Goods Stores
1
Beauty Salons
1
Beer, Wine, and Liquor Stores
1
Bowling Centers
1
Business Associations
1
Civic and Social Organizations
1
Convenience Stores
1
Credit Bureaus
1
Drinking Places (Alcoholic Beverages)
1
Drywall and Insulation Contractors
1
Electrical Contractors
3
Electronic Shopping
1
Facilities Support Services
1
Family Clothing Stores
1
Farm Supplies Merchant Wholesalers
1
Finish Carpentry Contractors
1
Florists
1
Full-Service Restaurants
3
Furniture Stores
1
General Medical and Surgical Hospitals
1
Golf Courses and Country Clubs
1
Hardware Stores
1
Homes for the Elderly
1
Insurance Agencies and Brokerages
5
Landscaping Services
1
Limited-Service Restaurants
1
Manifold Business Forms Printing
1
New Car Dealers
2
Newspaper Publishers
1
Nursing Care Facilities
2
Office Supplies and Stationery Stores
1
Offices of Certified Public Accountants
1
Offices of Chiropractors
1
Offices of Lawyers
2
Offices of Optometrists
1
Offices of Real Estate Appraisers
1
Painting and Wall Covering Contractors
1
Pharmacies and Drug Stores
1
Recreational Vehicle Dealers
1
Retail Bakeries
1
Snack and Nonalcoholic Beverage Bars
1
Title Abstract and Settlement Offices
1
Veterinary Services
1
Wired Telecommunications Carriers
1

Naming the Company

A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.

Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.

For other considerations regarding naming a company, we recommend this article: Naming a Business.

There's one other important factor when naming a business. Since you are starting a business in Tracy, it's imperative that you check now that your company name has not already been claimed by another Minnesota business.

Raising Capital for Your Company

Raising money to fund your new Tracy business is a difficult chore. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Find Start-Up Capital.

For Tracy entrepreneurs with great ambition but a shortage of investment capital, check out our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.

Bring in Revenues

Mastering the art of selling is a must if you want your new Tracy business to do well.

So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.

Tips on Customer Referrals is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Increase Your Entrepreneurial Knowledge

The best business owners recognize that what they know now may not be enough to ensure their future success.

With your business being located in Tracy, Minnesota, you should check out some of the many programs available at nearby Minnesota universities, colleges and community colleges. You should also check if there are any Tracy networking organizations.

What's Next?

Most new Tracy 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 Tracy and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Tracy, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Tracy, Minnesota

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

Starting-a-Business Guides for Other Cities in Minnesota

Starting a Business in Tower
Starting a Business in Truman

Browse All Business Startup Guides for Minnesota
Starting a Business Guides for Other States

 

 

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