There are many reasons to start a business. Maybe you have a great idea or passion, maybe you want to be your own boss, it may even be that you want to contribute to the local economy of your hometown. Whatever your reason, entrepreneurship is a huge commitment, with many factors to consider such as the big idea, startup costs, investment funds, supply and demand, employees, and a marketing strategy. Yet probably the most important determinant of success is location, location, location!
By now, almost everyone has discovered what Texas has to offer so it is no surprise that expenses have skyrocketed. A report released by Realtor.com states that rent in Austin grew a record of 25.3 percent in 2021 alone – a higher growth rate than New York, Los Angeles, and Seattle. Similar trends are also present in Houston, Dallas, and San Antonio. Instead of struggling to make ends meet, many have chosen to move outward into suburban and rural areas where rent is much more affordable. Consider the advantages to a realm of less competition and smaller costs. Small town entrepreneurs don’t feel competition with major retailers but are close enough to the city to remain operational.
Money on My Mind
The first thing on your mind when starting a business is profitability, so let’s talk about money. Texas is known for having some of the highest property tax rates in the country, so you may be surprised to learn that Goldthwaite does not charge a dime for purchasing real estate. If you’re coming from out of state, you’ll also love that Texas is one of only nine states that doesn’t charge a state income tax. The impact of these tax advantages is huge for any business owner, eliminating some financial burden and long-term risk. Additionally, since Goldthwaite prioritizes community value, we have no city property taxes and offer some of the lowest utility rates across all of Texas. You can see how the value of your dollar stretches much further here in Goldthwaite.
Connection is Key
Goldthwaite residents are fortunate to have reliable cellular services and high-speed fiber internet, offered by Central Texas TeleCommunications (CTTC), a luxury not available to every rural town. Broadband is substantial in rural business development because it allows entrepreneurs to reach a global network of customers. It also ensures you can access the same resources and technology as bigger competitors, improving manufacturing, delivery, e-commerce, and communication with customers. No matter where they live, people are online. The internet connects nearly every small town citizen in the same way that it connects people in the city, offering scalability from anywhere. Our City Manager Rob Lindsey states, “In our case, being off the beaten path does not mean being unplugged. We enjoy greater connectivity here thanks to CTTC, and given the affordability of real estate and low overhead costs, we are uniquely well-positioned to pursue our entrepreneurial endeavors.”
Love Thy Neighbor
What is not as easily measured but is a very powerful tool is the loyalty and support of small-town residents to their local business scene. It’s in smaller communities where you’ll make real connections and maintain stronger relationships. Take it from the Hammond Brothers who grew up in Goldthwaite, left for college, and returned home to start the thriving business that is Southside Tavern. With ancestral ties dating back one hundred years in Goldthwaite, the brothers along with Nick’s wife Brittany, a local school teacher, had a vision of turning their great grandfather’s grocery store into a proud Texan mercantile and restaurant. After opening in September of 2021, the Hammonds and Brittany have quickly turned an empty building into a vital piece of our town’s social scene. Providing delicious food, late-night drinks, and a lively place to gather, the Southside Tavern is one of the most successful examples of new business in Goldthwaite.
“Operating the restaurant has been very rewarding and brought us so much joy. It has also been a lot of work and stress, but we’re thankful for how patient everyone has been as we’ve learned and grown this past year. Goldthwaite has a wonderful sense of community and tons of supportive patrons. The future holds even more growth opportunities for us and we hope for Goldthwaite’s other businesses as well.” – Southside Tavern
Just across the town square is Switch Salon Spa & Boutique, another Goldthwaite local who, with a lot of hard work and support, turned her dreams into reality. In April of 2019, Terra Gardner brought a beautiful, full-service salon to our town, offering residents luxurious hair care, without having to drive into the city. Resilient in the face of Covid-19, Terra fought to keep her business open. Even though all were battling the same hardship from the pandemic, the support of the Goldthwaite community was stronger than ever before. The devotion of Switch’s customers was so powerful that not only did her business survive, but Terra was able to open her second location in the neighboring town of San Saba. This is a true story of a small-town entrepreneur with big dreams, big ambition, and a big community to help her achieve. Customer loyalty is instrumental to success in any market but larger cities lack the sincere camaraderie to be found in small towns.
Small Town Advantage
Starting a business in a big city means your impact will barely touch the economy. Doing so in Goldthwaite ensures your revenues will flow directly into our local economy, job opportunities will be provided for your friends and neighbors, and you will contribute to the growth of our town. Small towns recognize the value of an entrepreneurial spirit and seek to attract those individuals with incentives such as low costs of living. In Goldthwaite, you’ll benefit from zero city property taxes, zero income taxes, affordable rent, and low utility costs. We’ve removed another entrepreneurial barrier by offering high-speed fiber internet. Since the internet offers scalability from anywhere, residing in a small town ensures a faster road to financial security. Finally, there’s an undeniable camaraderie in our community. Our residents want to help you succeed. With every new business, our town offers new resources, more jobs, higher revenue opportunities, and a diversifying retail scene. Build an economy based on your local values. Build your business in Goldthwaite.
Your new business endeavor may be closer than you think. A variety of buildings are available now for lease or purchase. Whether your passions lie in a potential restaurant, bar, winery, meat market, or boutique, Goldthwaite has the opportunities to make your dream come true and a community to support your journey.
If you’re ready to learn about starting a business in Goldthwaite, here are a few resources to help you get started:
City of Goldthwaite Resources
- Our website discovergoldthwaitetexas.com is an excellent hub of information about our city. Here you can learn about our churches, medical providers, school systems, utilities, and economic profile
- For resources such as Goldthwaite’s business directory, visit the Chamber of Commerce website goldthwaiteareachamber.com
- City electric, water, sewer, and trash information is available by contacting City Hall
- Call the Goldthwaite Economic Development Committee (GEDC) for information about business resources, access to development services, and small loan funds
- Call the GEDC to learn what buildings are available
- City Hall’s address is 1218 Fisher Street, Goldthwaite, TX 76844
Important City Phone Numbers
- (325) 648-3186, fax (325) 648-2570 City Hall
- (325) 648-3186 Goldthwaite Economic Development Corporation (GEDC)
- (325) 648-3619 Chamber of Commerce (located at Goldthwaite Welcome Center)
- (325) 648-2237 Central Texas Telecommunications (Internet Provider)
Mills County Resources
- Septic permits can be obtained by contacting the Judge’s office
- For subdivision platting information, contact the Judge’s office
Important County Phone Numbers
- (325) 648-2650 County Agent/Texas Agrilife Extension
- (325) 648-2711 County/District Clerk Office
- (325) 648-2222 Judge’s Office
- (325) 648-2253 Tax Appraisal Office