AUSTIN, Texas — National Small Business Week is quickly approaching and an expert who works to match local entrepreneurs with business opportunities says there's no slowing down.
Kyle DeHaas, a franchise consultant with FranNet, said he's watched Austin grow quite a bit in his 35 years living in Central Texas, especially the entrepreneurial community over the past several decades.
"I've been working as a franchise consultant for the past 13 years in Austin, and I've noticed that there is a ton of entrepreneurial development in that area. A lot of it is in businesses that are geared towards the consumer, like home consumer services, essential services," DeHaas said.
DeHaas said when it comes to creating a business, he encourages entrepreneurs to self-reflect and figure out what they're good at and what they aren't.
"It's okay to get detailed and color outside the lines for your prior work experience and, in that moment of self-reflection, I think an aspiring entrepreneur is getting ready to decide the course of their next career, move into business ownership," DeHaas said. "This is often where I advise people through that process of discovery, and if they're looking inward to see if business ownership is really a good fit for their skills and goals."
Another important aspect DeHaas describes is looking outward at the market and its needs. Decide what services are in high demand or are considered essential, or which industries could benefit from more efficient providers.
"Can that candidate entrepreneur meet the market need with the business system they intend to use? So those are big questions," DeHaas said.
He said in Austin, he's seen a strong demand for irrigation services that have a focus on water conservation. There's also a strong demand for senior care as Central Texas has a large aging population. Children-focused businesses are also booming as many Austinites are beginning to grow their families
"I think the things that are happening in Austin is we're taking care of ourselves. Our parents, our kids, our house, and our business. Those are things that are durable and just aren't ever going away," DeHaas said.
For aspiring business owners, DeHaas said there are some great nonprofit partners like SCORE Austin or the Small Business Development Centers that provide excellent resources for people who are thinking about getting into the business.
"I encourage folks to get in touch with those organizations first. You can get some education for low to no cost and mentorship as well. And then there're also people like me. I am a no-cost provider and I'm a good person to go to. If you want to run a business, and you have absolutely no idea how to, but you're good at executing, that's the perfect person right there," DeHaas said.
DeHaas said he encourages business owners to find the specific amount of time they need to devote to a business in a given week, as well as consider financial assets.
"You can drum up your own capital in some creative ways, such as link rollovers or SBA loans. There are all sorts of ways to supplement the capital that you'd need," DeHaas said. "It's really good to start off knowing how much you can access both time and capital before you get into business."