July 31, 2020  
 
  Entrepreneurial Resources - Advice for North Carolina Entrepreneurs  
  Wallace, North Carolina Resources for Entrepreneurs  
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Open a Business in Wallace, North Carolina

Need help starting a business in Wallace, North Carolina? We've got the information you need to open a business in Wallace.

Choosing the Right Company to Start

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 Business Ideas That Don't Make Sense.

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 Opening a Commercial Paper Business guide or our Starting a Piano Tuning, Repair, & Refinishing Business guide.

Remember that your new startup will be located in Wallace. Some businesses will do better in Wallace than others. Make sure you fully understand Wallace demographics before you lock in on your business idea.

Wallace, North Carolina Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 3312
5-9 Employees 1728
10-19 Employees 576
20-49 Employees 552
50-99 Employees 144
100-249 Employees 48
250-499 Employees 0
500-999 Employees 24
1000+ Employees 0
All Wallace Businesses 6384

As a new Wallace entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Wallace 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
Appliance Repair and Maintenance 1
Automotive Parts and Accessories Stores 4
Automotive Transmission Repair 1
Beauty Salons 1
Beer, Wine, and Liquor Stores 1
Broadwoven Fabric Finishing Mills 1
Business Associations 1
Cafeterias 1
Car Washes 1
Carpet and Upholstery Cleaning Services 1
Child Day Care Services 1
Civic and Social Organizations 1
Coin-Operated Laundries and Drycleaners 1
Computer Systems Design Services 1
Construction Sand and Gravel Mining 1
Consumer Lending 3
Continuing Care Retirement Communities 2
Convenience Stores 1
Dental Laboratories 1
Discount Department Stores 1
Electric Power Distribution 1
Electrical Contractors 1
Elementary and Secondary Schools 1
Employment Placement Agencies 1
Exterminating and Pest Control Services 1
Family Clothing Stores 1
Farm Supplies Merchant Wholesalers 1
Floor Covering Stores 1
Florists 3
Food Service Contractors 1
Framing Contractors 1
Full-Service Restaurants 10
Funeral Homes and Funeral Services 2
Furniture Stores 3
General Automotive Repair 3
General Freight Trucking, Local 1
Golf Courses and Country Clubs 1
Hardware Stores 2
Home Furnishing Merchant Wholesalers 1
Home Health Care Services 1
Homes for the Elderly 2
Household Appliance Stores 2
Insurance Agencies and Brokerages 6
Internet Service Providers 1
Jewelry Stores 1
Landscaping Services 2
Limited-Service Restaurants 14
Livestock Merchant Wholesalers 1
Logging 8
Masonry Contractors 1
Meat Markets 1
Musical Instrument and Supplies Stores 1
New Car Dealers 5
Newspaper Publishers 1
Nursing Care Facilities 1
Office Administrative Services 1
Offices of Certified Public Accountants 3
Offices of Dentists 3
Offices of Lawyers 6
Offices of Optometrists 2
Outdoor Power Equipment Stores 2
Painting and Wall Covering Contractors 2
Pharmacies and Drug Stores 5
Poultry Processing 1
Ready-Mix Concrete Manufacturing 2
Real Estate Credit 1
Residential Property Managers 1
Residential Remodelers 2
Securities Brokerage 1
Shoe Stores 1
Snack and Nonalcoholic Beverage Bars 1
Tax Preparation Services 2
Temporary Help Services 1
Tire Dealers 1
Used Car Dealers 1
Video Tape and Disc Rental 3
Wholesale Trade Agents and Brokers 2
Wired Telecommunications Carriers 2
Women's Clothing Stores 3

Have You Considered Franchising?

As you drive around Wallace, you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?

We advise the entrepreneurs we work with to look into purchasing a franchise. This site has dozens of articles on franchising, such as How to Find Financing for Franchises. 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 My Girl Friday and Children's Lighthouse Learning Centers. Alternatively, you can browse franchise categories, such as Gift Items Franchises and Home Furnishings Franchises.

Note on Wallace Franchise Opportunities: To find out if a franchise you are interested in is available in Wallace, you will need to get in direct contact with the franchisor.

Picking a Business Name

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 need to be easy to spell, easy to pronounce, and easy to remember.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.

As a final piece of advice, remember that because you are planning on starting a business in Wallace, it's imperative that you check now that you will be the only North Carolina company using the business name you have chosen.

Getting the Word Out About Your New Company

Whether your goal is to attract Wallace customers or you plan on selling elsewhere, you need a excellent marketing plan.

You can learn a ton about marketing on our site. Advertising on Google 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.

The Art of Selling

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

Why should customers buy from you instead of buying from competitors? Let us help you refine your selling techniques through our many useful sales advice tips.

Selling on the Phone offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

Next Steps

Most new Wallace businesses underestimate the number of challenges they will face.

If you choose the right business and love what you do, you will greatly increase your odds of success.

Our goal here is to promote the vitality and growth of small businesses in Wallace and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Wallace, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Wallace, North Carolina

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

 

 

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