Starting a Small Business in Dallas? Don’t Forget Virtual Office Services

How do I start a small business in Dallas? 

It’s a big question and can feel overwhelming, but we hear you. Being an entrepreneur involves a lot of research, a hefty amount of planning, and some serious community support. Putting all the pieces together can feel daunting. 

That’s why using the resources provided in this guide, specifically written for those who are thinking about starting a small business in Dallas, will give you the best chance at success from the beginning. 

Thriving Industries in Dallas

Dallas has a diverse, well-educated, and dynamic workforce. This has led to a wide variety of thriving small businesse+s. When examining which particular industries (and types of small businesses within them) tend to perform the best and still have room to grow, a few stand above the rest.

1. Trade, Transportation, and Utility

      a. Freight brokerage

      b. Specialized trucking (extremely large loads, perishables, livestock, etc.)

      c.  Moving company or moving van rental

      d. Solar power installation 

      e. Biofuel production

2. Professional and Business Services

      a. IT systems consulting

      b. Private investigation

      c. Staffing and recruiting

      d. Sales-lead generation

      e. Website design

      f. Public relations

3. Education and Health Services

      a. Tutoring 

      b. Personal training

      c. Midwifery and birth coaching

4. Leisure and Hospitality

      a. Boutique second-hand retail

      b. Vacation rental property management

      c. Customized tour company

      d. Campground/glampground

      e. Corporate retreat center

5. Financial Activities 

      a. Tax preparation 

      b. Debt collection

      c. Mortgage and debt-reduction service

These are just some of the small business ideas that are currently showing promise in Dallas. Do any of these pique your interest? If you already have your own idea, does it fill an underserved niche with predictable demand? That’s always the first question to answer before moving any further on the path of small business ownership.

Why Start a Small Business in Dallas

Dallas is not only a great place to live and work, but it's also an exceptional place to start a small business. Dallas Economic Development calls Dallas North America’s City Center, going on to say that the city is: 

      ⚫ Perfect for businesses and investments 

      ⚫ The urban center of the most dynamic and diverse metropolitan economy in the U.S. 

      ⚫ The transportation hub of North America 

      ⚫ Perfect for an increasingly connected world

The city is home to many big-name companies, including ExxonMobil, American Airlines Group, Kimberly-Clark, GameStop, Dr Pepper Snapple Group, The Michaels Companies, Sally Beauty Holdings, and Cinemark (just to name a few). 

However, Dallas is powered by thousands of small business ventures as well, proven by the 3rd-place award Dallas received in 2019 for being a city where small businesses are thriving. The city has a commitment to strategic engagement which “envisions a city that captures a healthy share of regional growth while improving opportunities for its citizens and businesses.” 

To achieve this vision, Dallas:

      1. Strategically engages in economic development. 

      2. Partners its government with the business community to overcome obstacles for growth.

      3. Plays to its strength as a destination of choice for entrepreneurs. 

      4. Connects commercial markets and thriving neighborhoods with roads, rails, and trails.

      5. Makes economically balanced investments into the city’s economic potential.

      6. Supports enterprises’ creativity and productivity pursuits.

These all work together to create an overall favorable and positive environment for small businesses to form and succeed. But here are more tangible reasons why you should start a business in Dallas: 

      ⚫ It's centrally located in the United States.

      ⚫ It has a fast-growing economy made of 7.1 million residents.

      ⚫ The workforce is strong and educated with a large talent pool.

      ⚫ There are a variety of small business programs to help you get running and keep going for years to come (see the next section below).

You probably want to start a small business somewhere that is as livable as it is workable. That’s another strength of Dallas. The quality of life is very high, with a cost-of-living rate of 96.1% of the national average, no personal income tax, the top public high schools and the largest arts district in the nation, and all the major professional sports leagues. You simply can’t get all this anywhere else but here.

Resources for Starting a Small Business in Dallas

The amount of resources available to those who are starting a small business in Dallas are seemingly endless. Government and nonprofit agencies alike are very motivated to make it quick and simple for entrepreneurs to set up shop quickly and be as profitable as possible in the long term.

Here is a list of essential resources, specific to Dallas, that you’ll want to refer to multiple times throughout your start-up journey.

Dallas B.R.A.I.N.

This informational hub features some helpful worksheets and checklists, including:

      ⚫ Pre-Venture worksheet

      ⚫ Start-Up Expenses worksheet

      ⚫ Evaluate Your Business Idea worksheet

      ⚫ Business Plan checklist

      ⚫ Business Registration, Tax, and Regulation checklist

Fort Worth Business Assistance Center (BAC)

This one-stop-shop is home to 11 on-site partners that support small businesses and micro-enterprises. Some of the services offered here are:

      ⚫ Training workshops on topics such as marketing research, sales, and capital acquisition

      ⚫ One-on-one business counseling, mentoring, and coaching

      ⚫ Small business funding through loans featuring flexible payments

      ⚫ Advocacy for minority business owners 

Just Business

This website seems to cover everything, even when it comes to franchising. Follow their 6-step plan for starting a business in Texas, which covers:

This website seems to cover everything, even when it comes to franchising. Follow their 6-step plan for starting a business in Texas, which covers:

      1. Determining your business structure (sole proprietorship, LLC, etc.)

      2. Picking a business name using a trademark search and the corporations database

      3. Requesting an EIN (Employee Identification Number) from the IRS

      4. Acquiring licenses and permits (and how much they cost)

      5. Checking on your employer requirements, like insurance and taxes

      6. Signing up for business banking accounts and credit cards

Dallas Economic Development

To help your any-sized company reach its potential, apply for Dallas small business grants and Dallas business incentives. The city offers a suite of programs, grants, and incentives for:

      ⚫ Commercial projects

      ⚫ High-quality development

      ⚫ Job-generating projects

      ⚫ Green building improvements

      ⚫ Public service enhancements

      ⚫ Historic preservation

      ⚫ New markets

      ⚫ Adaptive reuse

      ⚫ Utilities

      ⚫ Minority- and women-owned business enterprises

      ⚫ And more

Jumpstart Your Business With Virtual Office Services in Dallas

Another notable resource that can help you jumpstart your business is Davinci Virtual. With an assortment of virtual office services and features, we can really get your business off the ground. 

Virtual Business Address

If you want to showcase your success, having a virtual business address at just the right location can be just the thing. 

Day Offices

When you must make a good impression without having to sign a lease, renting a day office in a modern office building may be the solution you need.

Incorporation Services

You can depend on our registered agent service to properly incorporate your company, which can save you a lot of headaches and legal hoops to jump through. 

Are you now more motivated than ever to start your own small business in Dallas, Texas? Use the links found in this guide to begin and then book affordable virtual office services from Davinci Virtual.

About Coco Quillen

Coco is the Chief Operating Officer at Davinci Virtual Office Solutions. She manages the strategic development and operational implementation of services for Davinci. She works closely with all teams to ensure customers are well taken care of.