Texas Business Startup Guides
Start a Business in Wellington, Texas
Are you starting a business in Wellington, Texas? This article discusses the most important things to consider when opening a business in Wellington.
Will You Be a Good Entrepreneur?
Running your own business is difficult, and can be orders of magnitude more strenuous than working as an employee. Are you sure you want to start a business?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Wellington. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. Others sometimes know you better than you know yourself.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? To help you decide on a business type, we encourage you to read Finding Your Niche in Life.
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 Starting a Lighting Commercial & Industrial Business guide or our Starting a Television Antennas Retail Business guide.
Remember that you are starting a business in Wellington. Some businesses will do better in Wellington than others. Study Wellington demographics and do a competitive analysis as part of your startup planning process.
Wellington, Texas Demographic Information
Wellington has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Wellington demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Wellington.
Businesses
As a new Wellington entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Wellington 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
Should You Buy an Existing Wellington Business?
We've created a handy website page for those who want to Buy a Business in Texas. Follow that link and you can assess several good businesses for sale in Wellington.
Before buying a business, be sure to read this article: Buying a Business.
Forming a Company in Wellington, Texas
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Texas, it doesn't mean you are required to incorporate in Texas. As it turns out, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Wellington, Texas, our information on Incorporating in Texas may be a useful resource if you decide to incorporate in Texas.
Do You Need a Business Plan?
A business plan is critical to the health of your new business. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan is a recipe for disaster.
Before you start writing a business plan, we suggest you skim Business Plan Contests. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Texas.
Marketing Your New Startup
To grow your Wellington business, you need a great marketing plan.
We have some great resources on this site for entrepreneurs who are working on marketing plans. Media Kits is an article that will generate a few thoughts on your marketing plan. That's just one of the many useful articles we have on Marketing a Small Business.
What's Next?
As an entrepreneur in Wellington, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Wellington and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Wellington entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Wellington, Texas
Here are more links that we believe will help you be successful in starting a business in Wellington.
- Resources for Wellington, Texas Entrepreneurs - Browse a variety of resources we've collected to assist Wellington entrepreneurs.
- Texas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Texas.
- Houston, Texas Small Business Development Center - Serving 32 counties in Southeast Texas through 14 business consulting and training centers, the Small Business Development Center Network contributes to the growth and prosperity of the Texas Gulf Coast communities.
- North Texas Small Business Development Center - The NTSBDC Network promotes small business success by providing management education.
- Northwest Texas Small Business Development Center - The Northwest Texas Small Business Development Center was established with Texas Tech University in 1986. This regional program serves over ninety thousand square miles including ninety-five counties with a population base of approximately 1.8 million people. This region is serviced by six centers located in Lubbock, Amarillo, Midland/Odessa, Abilene, Stephenville, and Wichita Falls.
- South-West Texas Border�SBDC Network Texas Small Business Development Center - The South-West Texas Border Small Business Development Center (SBDC) provides consulting and technical assistance to the small business community.
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