Did you know that Fort Worth is actually the nation’s ninth-best largest city for smart and eager professionals to start a new business? One of the main benefits of starting a business in Fort Worth is the simple fact that Texas has low taxes and the regulatory structure for businesses is pretty friendly with an expectation of rapid job growth.
There’s no telling that many people want to look into expanding their industry presence through a business front here. The area in general is a great place to start a new business, with a thriving economy and plenty of opportunities. But you may be wondering, where exactly should you locate your new venture?
If you’re looking to start a business in Fort Worth, you’ll want to carefully consider your location. There are several great areas for new businesses, each with its own benefits and drawbacks. Here’s a look at the best locations for a new business in Fort Worth.
Why Start a Business in Fort Worth, Texas?
As the 12th-largest city in the United States, Fort Worth is a popular destination for business owners. There are around 1 million residents. With that, there are new and upcoming neighborhoods making way for new business opportunities and a trial run to test audience engagement with new products and services.
The city has a thriving economy and is home to many large businesses already, 90,000 physical business locations to be exact. That doesn’t mean that there isn’t room for new businesses to make their mark though. In fact, it’s quite the opposite. The top industries in the area are:
- Oil and gas
- Aerospace and aviation
While there is a lot of room to enter into these areas of business keep in mind that Fort Worth is expected to have its population climb by almost 50% as we get closer to 2030. The majority of that population will consist of young couples and young people in general. This means that there is room to grow and expand throughout other industries to match what this demographic may want.
It’s Also a Great Place to Live
Fort Worth is also a great place to live, with a low cost of living and plenty of amenities. This is another reason why you can expect the population to grow. Aside from the obvious, we know that there are many benefits to starting a business in Fort Worth just from reviewing the state of the economy and what we can expect from it.
The city has a business-friendly environment, with low taxes that appeal to new business owners or prospectors, and minimal regulation. Fort Worth also offers access to a large market, as well as a skilled workforce. The city is expected to see significant job growth in the coming years, making it an ideal location for new businesses regardless of industry choice or niche service scope.
What to Keep in Mind
If you’re considering starting a business in Fort Worth, there are several things you should keep in mind. First, you’ll need to choose the right location for your business. The city is large and has many different business districts.
Each district has its own benefits but one area may be more beneficial to your type of business than another area would. This is why it’s important to choose an area that best suits your needs and the needs of your target audience. You should also be aware of the competition in Fort Worth.
Due to the city’s booming economy and existing businesses, there are many businesses already vying for attention. To succeed, you’ll need to differentiate your business from the competition.
That could consist of reimagining your business plan to make your product or service stand out in the marketplace. Or, this could mean changing what you offer altogether to have better chances and reaching your target audience, acquiring their business, and retaining that business. Overall, it’s all about the market.
Always Identify Your Competition First
You’ll need to identify your competition. Then, base your business model on what they already do, what people in the area need or look for, and how you can give them that in a different, more unique, more quick and efficient way.
Finally, you’ll need to have a solid system of navigation for your business. Before starting and diving right in, make sure you have a clear idea of your goals and how you plan to achieve them in the area that you’re in. Take advantage of what the area is lacking and thrive on how your business can provide it.
Without a plan, the transition may be difficult, however, the city is continuously growing. This means that you won’t have a hard time getting the attention of your audience.
The Top Areas in Fort Worth for a New Business
There are many areas throughout Fort Worth that would be great locations to start a business. However, some areas may be better suited for your business than others. The top three areas in Fort Worth for a new business are:
The Downtown Business District
This district is the most business-friendly environment in the city and offers easy access to a large market. This is because Downtown Fort Worth is the epicenter of the city’s business district in general. This is also where most of the city’s skyscrapers and taller buildings will be located making it a great business hub.
It’s also home to a skilled workforce, making it an ideal location for new businesses regardless of the industry you’re in. Depending on the type of business you have you might also like to know that downtown is a North Texas destination for tons of activities. That will usually consist of dining out, shopping, nightlife, and other forms of entertainment.
This means that you will be in the thick of it all when it comes to different people flocking to the area for a number of things. Think about it like this, if you want to open a new bar, brewery, or even a restaurant for fine dining, this would be the place to start. You are giving people easy access to your business and this is where you can test out your business ideas since you’ll have a huge opening to the market and those that shop within it.
The Upper West Side
The Westside Business District is perfect for businesses that want to be close to the action but are slightly removed from the hustle and bustle of downtown. It’s also a great location for businesses that cater to different types of clientele because everyone is looking for something different. It’s technically called the Upper West Side and it’s on the western end of downtown.
In the area, you’ll have a good chance of getting and retaining regular customers depending on what you offer. The area overall is a balanced mixture of industrial and residential sites.
This means that people in this area could come to you for what you need before they venture out farther from their homes. This is a good opportunity to identify and expand on your niche based on what the area needs.
East Side Village
This district is perfect for businesses that want to be close to the city’s major highways. It’s also a great location for businesses that cater to a more industrial clientele. It’s located east of downtown and it’s basically located within the Council District 8.
The infill development of the future in this area is expected to be more geared toward industrial and warehouse architecture. This could be a good area to move your business into if you are looking to start up a plant of some sort or have a craft and antique shop. This might even be a great area to feature an industrial-styled bar that focuses on Fort Worth’s history.
Arlington Heights is one of the most popular and sought-out areas in Fort Worth. People flock to the suburban homes in the area and the area in general offers a great spotlight for new businesses. You can expect room for growth here.
You can also expect a progressive and proactive area to try out your business efforts. What’s great about Arlington Heights is that it’s not just a great place to start your business venture. You can easily live here as well.
This means you can be close to home and work which can be beneficial if you decide to stay in the area and make your business more of a staple in the community. Also, keep in mind that the average household income in this area is $124,050 making it a great place for premium business partnerships and exposure.
Near the TCU Campus
Being near any campus is beneficial. The thing is, not all business owners realize that until they’re already established.
TCU Neeley School of Business is actually ranked #4 for alumni experience. This could be an indicator that graduates are staying in the area.
This could be a good time to make your mark in the area and take advantage of this. Overall, being in this area means constant traffic. And not just any traffic, if you can appeal to students, young professionals, and even staff that work in the area, you could create a lasting presence.
The Cultural District
The cultural district bridges downtown and West 7th is where you’ll find the best entertainment scenes in the area. Along with its name, you can expect to see a major presence of museums from art, to history and science. Not only that. you’ll come across rodeos, livestock shows, and rock and country acts.
This area could be the perfect spot for almost any type of business. With the versatility in the area, it wouldn’t be hard to blend and mesh your business right into the culture of the Cultural District. keep in mind that Fort Worth is known for its deep roots within the cattle ranching industry…they don’t call it Cowtown for nothing.
This means that if you have a hand for good barbecue, you’re a history buff, or you brew a great ale or Porter, you might have just found your new business’s home.
Nestled just south of Downtown Fort Worth and bordering the TCU campus, Fairmount is one of the most popular areas to live in the city. It’s a Historic District with a lot of character that has experienced recent revitalization. You’ll find tree-lined streets, beautiful Victorian architecture, and an eclectic mix of businesses.
This makes it a great place to open up a business that would be appealing to TCU students or anyone who wants to experience something different than your typical big-city business. If you have a business concept that is artsy, unique, or one-of-a-kind, then this might be the location for you. There is already a high demand for businesses in this area, so if you can fill a need that isn’t already being met, you’ll be sure to find success.
Just keep in mind that with the recent revitalization, rental prices have increased, so you may need to budget accordingly.
Get Moving and Get Started
Once you’ve identified everything that you need to be aware of when starting a new business or moving your existing business to Fort Worth, you’ll have to coordinate your move. Many people want to focus on timeliness, efficiency, and affordability when it comes to moving.
This means that if you share those needs, you’ll want to use Redyne Moving, a reliable moving company that serves Portland, and Dallas/Fort Worth areas. A move can mean a headache, but not with Redefyne Moving.
Call us today for a quote so we can help you get to your new business location.