Wetumpka's residential development has been responsible for the most significant area of economic prosperity. Approximately 177 new subdivision parcels have been platted since the year 1990. These developments offer an array of building specifications suitable for those seeking elegant estate homes, as well as first-time homebuyers.
Based on the area's many advantages, industrial growth has also reached an all-time high. In recent years, Russell Corporation has opened four new plants in Wetumpka, investing in the community in excess of 90 million dollars. Other corporations, such as U.S. FabTec, Quality Networks, American Chalkboard, and Sikes Fiberglass Products have recently either opened or expanded their manufacturing facilities in the area, creating some 1400 new jobs. The sustaining businesses of Dan River, recently purchased by Artee/WrapSpun, as well as Tru-Turn, Inc. and Bass Lumber Company have also played an important role in Wetumpka's recent growth.
The area's professional and retail business sectors experienced substantial growth during the 1990's. Today, Wetumpka's historic downtown business district maintains a steady 90 percent occupancy rate. During the last several years, over two million dollars have been invested in the renovation and restoration of historic buildings.
Additionally, an estimated 45 percent of Wetumpka area housholds had a range of $35,000 to $100,000 in income during the year 1996.
Clearly, the statistics show that the Wetumpka area and Elmore County are poised for continued growth.
Opening a new business can be overwhelming, especially if you donít have any experience in the world of business. There are so many things to consider, from identifying the perfect product or service to sell to finding the right financing.
With so many moving parts, getting started can seem rather challenging. A business plan is always a first good step. It will help you lay out your plans, anticipate how you will manage your business and help you get the right financing. In other words, it can really help your company succeed.
A business plan includes:
Executive summary: Every business plan begins with an executive summary which features basic information about the business, the types of products and services it sells, the state of the industry and future plans. If you are just opening a business, this summary should include your professional experience and the reasons why you think your company will succeed.
Company description: This section describes your business goal and details the different parts of your company, including the types of product or services it sells, consumer demand and potential new clients. It also describes its competitive advantages in the marketplace, such as its location and type of operation. It can be as long as a few paragraphs, but the shorter the better. The goal is for the reader to have a good idea of what the business is about and understand its competitive advantages.
Market analysis: Who are the customers? How big is the market? Who is the competition? A market analysis answers many of these questions in detail. You can describe, for example, the type of customers you anticipate having (office workers and area residents) and describe the area where the business is located (there are five commercial buildings and 200 residential apartments within a mile radius, etc.)
Company organization: Here you explain how your company is organized and who is involved. In other words, describe who is doing what. This information is useful particularly if youíre looking for financing. Bankers need to know how your company is structured and who they are dealing with.
Description of products and services: Use this section to explain in more detail the products or services you plan to sell. How will your product be consumed? How often? How will consumers benefit from your products?
Marketing plan: This is your chance to explain in detail how you will market your products and services to potential clients. This can include plans for a website, advertising in local newspapers, promotions or other ads.
Finances and projections: The purpose of this section is to provide financial information about your company, including short and long-term sales projections. You can also include fixed and variable costs and when the company anticipates profits.
How to Get More Help
The Small Business Administration (SBA) can help you perfect your business plan. Use this locator to find a local SBA office and schedule an appointment.
SBA Small Business Learning Center: Training, Tools and Answers via Your Desktop
Starting or growing a business? Owning a small business can be a fulfilling endeavor, but as you probably already know or are just finding out Ė it requires that you wear many hats. This of course leaves you with little time to take a deep dive into the many aspects of starting and growing a business. Instead, many business owners turn to search engines for answers when questions come up.
But what if you had access to a small business classroom that provided informed, accurate and always-available access to the advice and guidance you need?
Online Training and Tools for Small Business Owners
Launched in late 2012, the SBA Small Business Learning Center is an online portal that hosts a variety of self-paced online training courses, quick videos, web chats and more to help small business owners explore and learn about the many aspects of business ownership.
Content is filtered by topic, so no matter the stage of your business, or the kind of insight you need, you can quickly get answers.
For example, if youíre wondering how SBA loan programs work or just need a primer in accounting or small business taxes, check out these self-paced online financing courses and short videos. Or explore tips from the pros in these archived SBA Web Chats.
And if you canít find the training or advice that you need, use the ďGet Local AssistanceĒ interactive map to find one of many small business counseling, assistance and mentoring organizations in your community.
For specific, detailed information on Elmore County statistics such as Demographics, Available Property, Taxes, Utilities, Transportation, Labor & Training, Local Industry, Latest Corporate News and Business Incentives, etc... please contact Leisa Finley, Executive Director at the Elmore County Economic Development Authority by email: firstname.lastname@example.org or visit the ECEDA Website at: https://www.elmoreeda.com/about