Contemplating starting a business in Albuquerque, New Mexico? We walk you through the process of opening a business in Albuquerque.
Most new companies fail, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.
Always keep in mind that your new business will be in Albuquerque. Think about what needs are currently being underserved in Albuquerque. Study Albuquerque demographics and do a competitive analysis as part of your startup planning process.
Albuquerque has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Albuquerque demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Albuquerque.
As a new Albuquerque entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Albuquerque for each business category. By looking at this chart, you can get
a general sense for how much competition there is in the business niche that
you are pursuing.
| Business Type |
# of
Businesses |
| Adhesive Manufacturing |
1 |
| Advertising Agencies |
25 |
| Aircraft Manufacturing |
3 |
| Ambulance Services |
8 |
| Amusement and Theme Parks |
1 |
| Amusement Arcades |
5 |
| Animal (except Poultry) Slaughtering |
1 |
| Appliance Repair and Maintenance |
11 |
| Apprenticeship Training |
11 |
| Architectural Services |
80 |
| Armored Car Services |
5 |
| Art Dealers |
23 |
| Audio and Video Equipment Manufacturing |
1 |
| Automobile Driving Schools |
4 |
| Automotive Exhaust System Repair |
5 |
| Automotive Glass Replacement Shops |
23 |
| Automotive Parts and Accessories Stores |
102 |
| Automotive Transmission Repair |
17 |
| Baked Goods Stores |
10 |
| Barber Shops |
9 |
| Beauty Salons |
139 |
| Bed-and-Breakfast Inns |
5 |
| Beer and Ale Merchant Wholesalers |
3 |
| Beer, Wine, and Liquor Stores |
21 |
| Blind and Shade Manufacturing |
1 |
| Blood and Organ Banks |
4 |
| Boat Dealers |
3 |
| Book Publishers |
9 |
| Book Stores |
25 |
| Books Printing |
1 |
| Bottled Water Manufacturing |
1 |
| Bowling Centers |
4 |
| Breakfast Cereal Manufacturing |
1 |
| Breweries |
1 |
| Broadwoven Fabric Finishing Mills |
2 |
| Broadwoven Fabric Mills |
2 |
| Building Inspection Services |
15 |
| Business Associations |
38 |
| Business to Business Electronic Markets |
5 |
| Cable and Other Program Distribution |
11 |
| Cafeterias |
26 |
| Camera and Photographic Supplies Stores |
9 |
| Canvas and Related Product Mills |
4 |
| Car Washes |
44 |
| Carpet and Upholstery Cleaning Services |
21 |
| Casino Hotels |
2 |
| Casinos (except Casino Hotels) |
3 |
| Caterers |
17 |
| Cemeteries and Crematories |
4 |
| Child and Youth Services |
32 |
| Child Day Care Services |
119 |
| Children's and Infants' Clothing Stores |
15 |
| Civic and Social Organizations |
75 |
| Claims Adjusting |
18 |
| Clothing Accessories Stores |
19 |
| Coin-Operated Laundries and Drycleaners |
16 |
| Collection Agencies |
9 |
| Commercial Bakeries |
5 |
| Commercial Flexographic Printing |
1 |
| Commercial Gravure Printing |
2 |
| Commercial Lithographic Printing |
30 |
| Commercial Photography |
11 |
| Commercial Screen Printing |
10 |
| Commodity Contracts Brokerage |
2 |
| Community Food Services |
2 |
| Computer and Software Stores |
34 |
| Computer Facilities Management Services |
13 |
| Computer Systems Design Services |
77 |
| Computer Training |
6 |
| Concrete Block and Brick Manufacturing |
3 |
| Concrete Pipe Manufacturing |
1 |
| Confectionery and Nut Stores |
6 |
| Confectionery Merchant Wholesalers |
6 |
| Construction Machinery Manufacturing |
3 |
| Construction Sand and Gravel Mining |
4 |
| Consumer Lending |
61 |
| Continuing Care Retirement Communities |
10 |
| Convenience Stores |
12 |
| Convention and Trade Show Organizers |
10 |
| Convention and Visitors Bureaus |
3 |
| Copper Foundries (except Die-Casting) |
1 |
| Cosmetology and Barber Schools |
5 |
| Couriers |
26 |
| Court Reporting and Stenotype Services |
17 |
| Credit Bureaus |
4 |
| Credit Unions |
32 |
| Curtain and Drapery Mills |
3 |
| Custom Compounding of Purchased Resins |
1 |
| Custom Computer Programming Services |
76 |
| Cut Stock, Resawing Lumber, and Planing |
2 |
| Dance Companies |
2 |
| Dental Laboratories |
22 |
| Diagnostic Imaging Centers |
17 |
| Diet and Weight Reducing Centers |
4 |
| Dimension Stone Mining and Quarrying |
1 |
| Direct Life Insurance Carriers |
21 |
| Direct Mail Advertising |
3 |
| Direct Title Insurance Carriers |
16 |
| Directory and Mailing List Publishers |
6 |
| Discount Department Stores |
12 |
| Display Advertising |
10 |
| Document Preparation Services |
10 |
| Dog and Cat Food Manufacturing |
2 |
| Drafting Services |
8 |
| Dried and Dehydrated Food Manufacturing |
1 |
| Drilling Oil and Gas Wells |
3 |
| Drinking Places (Alcoholic Beverages) |
61 |
| Drywall and Insulation Contractors |
61 |
| Educational Support Services |
23 |
| Electric Power Distribution |
1 |
| Electrical Contractors |
190 |
| Electronic Auctions |
1 |
| Electronic Computer Manufacturing |
1 |
| Electronic Resistor Manufacturing |
1 |
| Electronic Shopping |
9 |
| Elementary and Secondary Schools |
47 |
| Emergency and Other Relief Services |
3 |
| Employment Placement Agencies |
16 |
| Engineering Services |
185 |
| Environmental Consulting Services |
41 |
| Exam Preparation and Tutoring |
12 |
| Exterminating and Pest Control Services |
23 |
| Facilities Support Services |
7 |
| Family Clothing Stores |
47 |
| Family Planning Centers |
6 |
| Fiber Optic Cable Manufacturing |
1 |
| Fine Arts Schools |
31 |
| Finish Carpentry Contractors |
45 |
| Fish and Seafood Markets |
1 |
| Fish and Seafood Merchant Wholesalers |
1 |
| Fitness and Recreational Sports Centers |
53 |
| Flat Glass Manufacturing |
1 |
| Floor Covering Stores |
34 |
| Flooring Contractors |
26 |
| Florists |
36 |
| Fluid Milk Manufacturing |
1 |
| Food (Health) Supplement Stores |
25 |
| Food Service Contractors |
33 |
| Footwear and Leather Goods Repair |
4 |
| Footwear Merchant Wholesalers |
2 |
| Formal Wear and Costume Rental |
2 |
| Fossil Fuel Electric Power Generation |
9 |
| Framing Contractors |
45 |
| Freight Transportation Arrangement |
17 |
| Fruit and Vegetable Canning |
2 |
| Fruit and Vegetable Markets |
10 |
| Full-Service Restaurants |
415 |
| Funeral Homes and Funeral Services |
17 |
| Fur and Leather Apparel Manufacturing |
1 |
| Furniture Merchant Wholesalers |
10 |
| Furniture Stores |
73 |
| General Automotive Repair |
167 |
| General Freight Trucking, Local |
25 |
| General Medical and Surgical Hospitals |
9 |
| General Rental Centers |
4 |
| General Warehousing and Storage |
13 |
| Gift, Novelty, and Souvenir Stores |
82 |
| Glass and Glazing Contractors |
14 |
| Golf Courses and Country Clubs |
7 |
| Grantmaking Foundations |
26 |
| Graphic Design Services |
26 |
| Gypsum Product Manufacturing |
3 |
| Hand and Edge Tool Manufacturing |
1 |
| Hardware Manufacturing |
3 |
| Hardware Merchant Wholesalers |
14 |
| Hardware Stores |
13 |
| Hazardous Waste Collection |
2 |
| Hazardous Waste Treatment and Disposal |
2 |
| Historical Sites |
1 |
| HMO Medical Centers |
2 |
| Hobby, Toy, and Game Stores |
27 |
| Home Centers |
12 |
| Home Furnishing Merchant Wholesalers |
21 |
| Home Health Care Services |
42 |
| Home Health Equipment Rental |
10 |
| Homes for the Elderly |
35 |
| Household Appliance Stores |
15 |
| Human Rights Organizations |
15 |
| Ice Manufacturing |
1 |
| Industrial Building Construction |
4 |
| Industrial Design Services |
10 |
| Industrial Gas Manufacturing |
2 |
| Industrial Launderers |
9 |
| Industrial Mold Manufacturing |
1 |
| Inorganic Dye and Pigment Manufacturing |
1 |
| Institutional Furniture Manufacturing |
1 |
| Insurance Agencies and Brokerages |
317 |
| Interior Design Services |
18 |
| International Trade Financing |
1 |
| Internet Publishing and Broadcasting |
5 |
| Internet Service Providers |
9 |
| Interurban and Rural Bus Transportation |
5 |
| Investigation Services |
15 |
| Investment Advice |
33 |
| Iron and Steel Mills |
3 |
| Iron Foundries |
1 |
| Irradiation Apparatus Manufacturing |
2 |
| Janitorial Services |
113 |
| Jewelry (except Costume) Manufacturing |
39 |
| Jewelry Stores |
75 |
| Junior Colleges |
6 |
| Kidney Dialysis Centers |
5 |
| Land Subdivision |
19 |
| Landscape Architectural Services |
10 |
| Landscaping Services |
100 |
| Language Schools |
5 |
| Lessors of Other Real Estate Property |
34 |
| Limited-Service Restaurants |
432 |
| Limousine Service |
3 |
| Linen Supply |
4 |
| Local Messengers and Local Delivery |
12 |
| Locksmiths |
13 |
| Luggage and Leather Goods Stores |
4 |
| Machine Shops |
33 |
| Mail-Order Houses |
18 |
| Manufactured (Mobile) Home Dealers |
12 |
| Marketing Consulting Services |
30 |
| Masonry Contractors |
53 |
| Mattress Manufacturing |
3 |
| Meat Markets |
7 |
| Meat Processed from Carcasses |
3 |
| Media Representatives |
3 |
| Medical Laboratories |
27 |
| Men's Clothing Stores |
19 |
| Metal Heat Treating |
2 |
| Metal Household Furniture Manufacturing |
1 |
| Metal Stamping |
4 |
| Metal Tank (Heavy Gauge) Manufacturing |
3 |
| Metal Window and Door Manufacturing |
4 |
| Mineral Wool Manufacturing |
1 |
| Miscellaneous Intermediation |
15 |
| Mobile Food Services |
5 |
| Mortgage and Nonmortgage Loan Brokers |
60 |
| Motion Picture and Video Distribution |
1 |
| Motion Picture and Video Production |
29 |
| Motor and Generator Manufacturing |
4 |
| Motor Vehicle Body Manufacturing |
2 |
| Motor Vehicle Towing |
19 |
| Motorcycle Dealers |
19 |
| Museums |
7 |
| Musical Groups and Artists |
7 |
| Musical Instrument and Supplies Stores |
12 |
| Musical Instrument Manufacturing |
1 |
| Nail Salons |
4 |
| New Car Dealers |
42 |
| New Housing Operative Builders |
32 |
| News Dealers and Newsstands |
3 |
| News Syndicates |
2 |
| Newspaper Publishers |
12 |
| Nonclay Refractory Manufacturing |
1 |
| Nonresidential Property Managers |
41 |
| Nursing Care Facilities |
31 |
| Office Administrative Services |
46 |
| Office Equipment Merchant Wholesalers |
22 |
| Office Supplies and Stationery Stores |
35 |
| Offices of Bank Holding Companies |
2 |
| Offices of Certified Public Accountants |
159 |
| Offices of Chiropractors |
57 |
| Offices of Dentists |
261 |
| Offices of Lawyers |
597 |
| Offices of Optometrists |
40 |
| Offices of Other Holding Companies |
7 |
| Offices of Podiatrists |
15 |
| Offices of Real Estate Appraisers |
46 |
| One-Hour Photofinishing |
3 |
| Ophthalmic Goods Manufacturing |
3 |
| Ophthalmic Goods Merchant Wholesalers |
3 |
| Optical Goods Stores |
35 |
| Outdoor Power Equipment Stores |
3 |
| Packaging and Labeling Services |
1 |
| Packing and Crating |
3 |
| Paging |
7 |
| Paint and Coating Manufacturing |
1 |
| Paint and Wallpaper Stores |
14 |
| Painting and Wall Covering Contractors |
74 |
| Paper Industry Machinery Manufacturing |
1 |
| Parking Lots and Garages |
19 |
| Passenger Car Leasing |
1 |
| Passenger Car Rental |
40 |
| Payroll Services |
10 |
| Pen and Mechanical Pencil Manufacturing |
1 |
| Periodical Publishers |
28 |
| Perishable Prepared Food Manufacturing |
4 |
| Pet and Pet Supplies Stores |
18 |
| Pet Care (except Veterinary) Services |
24 |
| Petroleum Bulk Stations and Terminals |
16 |
| Pharmacies and Drug Stores |
51 |
| Photography Studios, Portrait |
32 |
| Pipeline Transportation of Crude Oil |
2 |
| Pipeline Transportation of Natural Gas |
4 |
| Plastics Bag Manufacturing |
1 |
| Plate Work Manufacturing |
1 |
| Political Organizations |
8 |
| Polystyrene Foam Product Manufacturing |
3 |
| Portfolio Management |
26 |
| Precision Turned Product Manufacturing |
3 |
| Prepress Services |
3 |
| Private Mail Centers |
16 |
| Professional Employer Organizations |
7 |
| Professional Organizations |
31 |
| Public Relations Agencies |
21 |
| Quick Printing |
7 |
| Racetracks |
1 |
| Radio Networks |
4 |
| Radio Stations |
21 |
| Ready-Mix Concrete Manufacturing |
5 |
| Real Estate Credit |
100 |
| Real Estate Investment Trusts |
1 |
| Recreational Goods Rental |
1 |
| Recreational Vehicle Dealers |
17 |
| Remediation Services |
9 |
| Repossession Services |
4 |
| Residential Property Managers |
59 |
| Residential Remodelers |
94 |
| Retail Bakeries |
12 |
| Reupholstery and Furniture Repair |
15 |
| Roofing Contractors |
49 |
| Rooming and Boarding Houses |
3 |
| Rope, Cordage, and Twine Mills |
1 |
| Sales Financing |
16 |
| Sanitary Paper Product Manufacturing |
1 |
| Savings Institutions |
9 |
| Scheduled Freight Air Transportation |
2 |
| Scheduled Passenger Air Transportation |
10 |
| School and Employee Bus Transportation |
12 |
| Securities Brokerage |
43 |
| Security Guards and Patrol Services |
27 |
| Semiconductor Machinery Manufacturing |
3 |
| Septic Tank and Related Services |
3 |
| Sheet Metal Work Manufacturing |
8 |
| Shoe Stores |
63 |
| Siding Contractors |
5 |
| Sign Manufacturing |
17 |
| Site Preparation Contractors |
35 |
| Skiing Facilities |
2 |
| Small Arms Manufacturing |
1 |
| Snack and Nonalcoholic Beverage Bars |
76 |
| Software Publishers |
11 |
| Solid Waste Collection |
6 |
| Solid Waste Landfill |
1 |
| Sound Recording Studios |
4 |
| Special Needs Transportation |
3 |
| Specialty Canning |
1 |
| Sporting Goods Stores |
56 |
| Sports and Recreation Instruction |
24 |
| Sports Teams and Clubs |
2 |
| Steel Foundries (except Investment) |
1 |
| Tax Preparation Services |
48 |
| Taxi Service |
2 |
| Telecommunications Resellers |
1 |
| Telemarketing Bureaus |
8 |
| Telephone Answering Services |
8 |
| Television Broadcasting |
8 |
| Temporary Help Services |
76 |
| Temporary Shelters |
11 |
| Testing Laboratories |
15 |
| Theater Companies and Dinner Theaters |
8 |
| Tile and Terrazzo Contractors |
31 |
| Tire and Tube Merchant Wholesalers |
7 |
| Tire Dealers |
42 |
| Tire Retreading |
1 |
| Title Abstract and Settlement Offices |
15 |
| Tobacco Stores |
11 |
| Toilet Preparation Manufacturing |
3 |
| Tortilla Manufacturing |
1 |
| Tour Operators |
5 |
| Tradebinding and Related Work |
3 |
| Translation and Interpretation Services |
4 |
| Travel Agencies |
23 |
| Travel Trailer and Camper Manufacturing |
1 |
| Truck Trailer Manufacturing |
1 |
| Truss Manufacturing |
4 |
| Used Car Dealers |
66 |
| Used Household and Office Goods Moving |
16 |
| Used Merchandise Stores |
49 |
| Vending Machine Operators |
10 |
| Veterinary Services |
56 |
| Video Tape and Disc Rental |
30 |
| Vocational Rehabilitation Services |
9 |
| Voluntary Health Organizations |
14 |
| Warehouse Clubs and Supercenters |
9 |
| Water Supply and Irrigation Systems |
6 |
| Web Search Portals |
2 |
| Wholesale Trade Agents and Brokers |
94 |
| Window Treatment Stores |
4 |
| Wineries |
3 |
| Wired Telecommunications Carriers |
47 |
| Women's Clothing Stores |
57 |
| Women's Handbag and Purse Manufacturing |
1 |
| Wood Container and Pallet Manufacturing |
3 |
| Wood Window and Door Manufacturing |
4 |
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
As a final piece of advice, remember that because you are starting a business in Albuquerque, it's imperative that you check now that no other New Mexico company is using the business name you want to use.
It's essential that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating is a very common way to legally create a business entity. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. Just because you are starting a business in New Mexico, you don't necessarily have to incorporate in New Mexico. In fact, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There's a lot to know about forming a company. To learn the basics of company formation, browse articles on our site, such as Incorporating Online. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Albuquerque, New Mexico, our information on Incorporating in New Mexico may be a useful resource if you decide to incorporate in New Mexico.
Getting your Albuquerque business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Good business owners know that they need to continually improve.
As an entrepreneur who lives in Albuquerque, New Mexico, you will want to take advantage of the learning programs at local New Mexico educational institutions. It's also wise to see if there are any Albuquerque networking organizations.
Most new Albuquerque businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Albuquerque and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Albuquerque entrepreneur who is just getting started or you are already up and running with your new venture.
Here are more links that we believe will help you be successful in starting a business in Albuquerque.
