Ohio Business Startup Guides
Start a Business in Troy, Ohio
Are you starting a business in Troy, Ohio? This article discusses the most important things to consider when opening a business in Troy.
Troy, Ohio Demographic Information
Troy has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Troy demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Troy.
Businesses
As a new Troy entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Troy 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 Franchising a Better Option?
As you drive around Troy, 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 look into purchasing a franchise. We have many articles on franchises, such as How to Get More Franchisees. Become a franchising expert of sorts by reading more of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Sample franchise opportunities include HyTech Weight Loss and The Pretzel Twister. Alternatively, you can browse franchise categories, such as Accounting Franchises and Interior Environment Franchises.
Note on Troy Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Troy.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
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.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
As a final piece of advice, remember that because you are planning on starting a business in Troy, it's imperative that you check now that no other Ohio company is using the business name you want to use.
The Role of the Business Plan
A business plan is essential 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. Starting a business without a business plan is a recipe for disaster.
Before you start writing a business plan, we suggest you skim Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Ohio.
Startup Financing Basics
Getting your Troy business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. 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 504 Loans.
For Troy entrepreneurs with great ambition but a shortage of investment capital, check out our List of Ohio Angel Investors and our List of Ohio Venture Capital Firms.
Marketing Your New Company
To rise above the crowd in Troy and grow your business, you need a excellent marketing plan.
You can learn plenty about marketing on our site. Newspaper Advertising Costs discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Increase Your Entrepreneurial Knowledge
Good entrepreneurs recognize that they need to continually improve.
As an entrepreneur who lives in Troy, Ohio, you will want to take advantage of the many programs available at nearby Ohio universities, colleges and community colleges. It's also wise to see if there are any networking groups or organizations in which Troy entrepreneurs get together to network and trade their business experiences.
Next Steps
Most new Troy businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in Troy and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Troy, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Troy, Ohio
Here are more links that we believe will help you be successful in starting a business in Troy.
- Resources for Troy, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Troy entrepreneurs.
- Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
- Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.
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