Starting a Business in Marshall County
Starting a business can be challenging, whether you are new to the area or a lifelong resident. Although hard work and determination are important, they are not enough to ensure the success of your business. Before you invest time and money into your dream, answer the questions below. Your answers can help you determine if your ideas are realistic.
- What does it mean to run my own business?
- What product/service will my business sell?
- Who will be my customer base?
- Where will my customer base be located?
- How do I attract my customers?
- What means will I use to distribute products/services to my customer base?
- What will it cost me to provide products/services?
- Where is the location of my business?
- Who is my competition and how much of the market do they control?
- What seperates my business from my competitors?
- How much startup capital will it take to open my business?
- How much operating expenses will I need for the first six months?
- Do I have the funding that I need to open the business? If not, where will I obtain financing?
- Do I have an exit plan in place?
Tackling important issues before you begin can guide you in making informed decisions about your business, and give you a realistic view of your potential for success. When you succeed, Marshall County succeeds!
The Marshall County Chamber of Commerce hosts seminars through out the year, as well as, one-on-one business counseling. Visit our Event Calendar atwww.marshallcountytn.events or contact us at 931-359-3863 to sign-up and keep informed.
As part of our commitment to promoting business in Marshall County, we've listed some key steps to help you get started.
Prepare a Business Plan
Developing a detailed business plan is critical for a new business owner. It will be a valuable tool to map out how you will start and run your business successfully. Not only will it provide direction, but it will help facilitate the process of building capitol through both traditional bank financing and investors. The Chamber holds business plan workshops annually. Contact us to find out when the next one is scheduled.
Name Your Business
Check to see if the name of your business is available through the office of the Tennessee Secretary of State. Your business name sets the tone and helps define what you offer. It is often the first impression that a prospective customer has of your business, so you want to make it stand out. Even if you are not ready to form your business entitiy yet, you reserve your chosen business name by filling Name Reservation Form with the Tennessee Secretary of State office.
Determine Your Business Structure
It's always best to consult a profressional when making decisions with regard to your legal business structure. There are many forms of ownership, such as sole proprietorship, partnership, Limited Liability Company (LLC), corporations, S corporation, nonprofit, or cooperative. Each has pros and cons. Liability and taxes are defined by legal structure of your business.
Our membership base contains profressionals to assist you with this process. Visit our Membership Directory.
Obtain a Federal Employee Identification Number (EIN)
You must register for an EIN, also known as a Federal Income Tax Identification Number. It issued by the Internal Revenue Service. It is required if you pay wages to anyone other than yourself or if your business is a partnership or corporation. You can obtain an EIN by visiting the IRS website here. Its can be filled out online.
Register for State and Local Taxes
Another requirement for starting a business is registering with the State of Tennessee. Registering a business with your Secretary of State is a step prior to obtaining your State Tax ID. Different from the Federal Tax ID, states have their own State Tax ID. This is a unqiue number assigned to a business or organization by the state where the business operated. It is primarily used for paying state taxes and hiring employee. You also must register your business with the Tennessee Department of Revenue.
Register with the Tennessee Department of Labor & Workforce Development if you plan on hiring employees, you will need to register your business with the Tennessee Department of Labor and Workforce Development:
Local Business License and Permits
There are a number of licenses and permits, or forms that may be required for you to start your business. Please see the listing below for the local agencies.
Business License
Marshall County
Daphne Fagan - Girts, County Clerk
1107 Courthouse Annex
Lewisburg, TN 37091
Monday - Friday
8:00 am - 4:30 pm
Phone: (931) 359-1072 Fax: 359-0559
E-mail: Daphne.Fagan-Girts@tn.gov
City of Lewisburg
Lueshell Taylor
131 East Church St.
Lewisburg, TN 37091
Monday - Friday
8:00 - 4:30 pm
Phone: (931) 359-1544
Lueshell.taylor@lewisburgtn.gov
Zoning, Codes and Permits
Marshall County
Don Nelson
3rd Floor Courthouse Annex
Monday - Friday
8:00 am - 4:30 pm
Phone: (931) 359-8839 or 0567
Don.nelson@marshallcountytn.com
City of Lewisburg
Buck Beard
31 East Church Street
Lewisburg, TN 37091
Monday - Friday
8:00 am - 4:30 pm
Phone: (931) 359-1544
Buck.berard@lewisburgtn.gov
Health and Fire Inspections
Marshall County Health Department
Jeremy Williams, Restaurant Inspector
206 Legion Avenue
Lewisburg, TN 37091
Monday - Friday
8:00 am - 4:30 pm
Phone: (931) 359-1551
City of Lewisburg Fire Department
Bob Davis, Fire Inspector
118 Water Street
Lewisburg, TN 37091
Phone: (931) 652-8823
lfd31@tnweb.com
Marshall County Ground Water Environmentialist
Keith Shultz
611 Hawkins Drive
Lewisburg, TN 37091
Monday 8 am - 9 am; Wednesday 3:30 pm - 4:30 pm
Phone: (931) 270-2251
Beer Permit and Liquor License
Marshall County
Daphne Fagan - Girts, County Clerk
1107 Courthouse Annex
Lewisburg, TN 37091
Monday - Friday
8:00 am - 4:30 pm
Phone: (931) 359-1072 Fax: 359-0559
E-mail: Daphne.Fagan-Grits@tn.gov
City of Lewisburg
Lueshell Taylor
131 East Church St.
Lewisburg, TN 37091
Monday - Friday
8:00 - 4:30 pm
Phone: (931) 359-1544
Lueshell.taylor@lewisburgtn.gov
Tennessee Alcoholic Beverage Commission
500 James Rovertson Parkway
Nashville, TN 37243
Phone: (615) 741-1602
Website: http://www.tn.gov/abc/
Location for Your Business
Whether you are looking for existing office space or new land to develop, Marshall County has something to offer you. For a list of contacts to help you find the perfect location for your business see bleow:
Ritaanne Weaver
Executive Director
Marshall County Chamber of Commerce
227 Second Avenue North
Lewisburg, TN 37091
Phone: 931-359-3863
Mobile: 931-619-5720
E-mail: director@marshallchamber.org
Website: http://www.marshallchamber.org/
Greg Lowe
Director of Economic Development
City of Lewisburg
131 East Church Street
Lewisburg, TN 37091
Phone: 931-359-1544
Mobile: 931-993-7499
E-mail: greg.lowe@lewisburgtn.gov
Website: http://www.lewisburgtn.gov/
Mike Wiles
Director of Joint Economic and Community Development Board
Marhsall County Tennessee
1106 Courthouse Annex
Lewisburg, TN 37091
Phone: 931-359-5536
Mobile: 931-993-6109
E-mail: Mike.Wiles@marshallcountytn.com
Website: http://www.marshallcountytn.com/
Open a Business Account
As a new business owner in Tennessee, it is important to keep your personal and business finances separate. The best way to do this is to open a business checking account. You will need to provide proof to the institution of the legitimacy of your business status. Be sure and provide your Tennessee's Incorporation document, your EIN (Tax ID) Number and all partners whose names you wish to include on the bank account must be present. It is always best to check with the institution first and be aware of the requirements needed to open the account so you will be preapred. The Chamber bank and credit unions are only a click away. Do your research and see which one is right for you.
Obtain Insurance for your Business
Its is in your best interest to get informed about insurance options and be familiar with the regulations that apply to your specific type of business. For assistance with this, the Chamber as reputable companies to get your started.
Financing Your Business
There are several funding options for your to consider in order to get financing. Our membership bae contains both banks and credit unions. Check them out in our Membership Directory. Other organizations may be of assistance, as well.
Below are additional resources that offer assistance to help you to get started.
South Central Tennessee Workforce Alliance
Website: http://www.sctworkforce.org/
Tennessee Career Center
Website: http://www.sctworkforce.org/
Small Business Administration
Website: http://www.sba.gov/tn/
Tennessee Small Business Development Center
Website: http://www.tsbdc.org/