Rhode Island Business Startup Guides
Start a Business in Bristol, Rhode Island
Are you starting a business in Bristol, Rhode Island? This article discusses the most important things to consider when opening a business in Bristol.
Do You Have Entrepreneurial Drive and Passion?
Most new ventures fail, in part because the business owner did not have the entrepreneurial skills and traits needed to succeed. So, before you open a business, 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:
- Talk to other entrepreneurs in Bristol. Get their candid feedback on what it takes to start a successful business.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
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? You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Radiation Physics Services Business guide or our Starting a Forgings Business guide.
Don't forget that your new business will be in Bristol. Some businesses will do better in Bristol than others. Make sure you fully understand Bristol demographics before you lock in on your business idea.
Bristol, Rhode Island Demographic Information
Bristol has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Bristol demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Bristol.
Businesses
As a new Bristol entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Bristol 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 Bristol, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. But is franchising the right option for you?
We advise the entrepreneurs we work with to investigate buying a franchise. We have many articles on franchises, such as Franchise Law. 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.
Representative franchise opportunities include Park Plaza Hotels and Resorts and Crestcom International, Ltd.. Alternatively, you can browse franchise categories, such as Employment and Staffing Franchises and Auto Repair Franchises.
Note on Bristol Franchise Opportunities: To find out if a franchise you are interested in is available in Bristol, you will need to get in direct contact with the franchisor.
Startup Financing Basics
Obtaining startup financing for your Bristol business is not an easy task. 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 How Much Venture Capital Is There?.
For Bristol entrepreneurs in need of startup financing, you'll want to take a look at our List of Rhode Island Angel Investors and our List of Rhode Island Venture Capital Firms.
Marketing Your New Business
To grow your Bristol business, you need a excellent marketing plan.
There are myriad resources on this site to help you with your marketing plan. Comparing Advertising to PR discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
Advancing Your Entrepreneurial Skills
Successful entrepreneurs recognize that they need to continually improve.
With your business being located in Bristol, Rhode Island, you should get information on some of the learning programs at local Rhode Island educational institutions. Another way to keep up on your learning is to investigate networking organizations for Bristol entrepreneurs.
Now It's Up To You
Most new Bristol businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
We are here to help Bristol businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Bristol, Rhode Island
Here are more links that we believe will help you be successful in starting a business in Bristol.
- Resources for Bristol, Rhode Island Entrepreneurs - Browse a variety of resources we've collected to assist Bristol entrepreneurs.
- Rhode Island Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Rhode Island.
- Rhode Island Small Business Development Center - The Rhode Island Small Business Development Center provides entrepreneurs with best fit resources to create and transform their businesses.
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