Are you starting a business in Bangor, Maine? This article discusses the most important things to consider when opening a business in Bangor.
Are You Ready for Life as an Owner?
Being an entrepreneur is demanding, much more arduous than working as an employee. Are you positive you want to start a business?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Grab a meal or cofee with other entrepreneurs in Bangor. Listen closely to their experiences and see if you think you too can be successful.
- Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Involve a spouse, family member or trusted friend in the decision. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Bangor, Maine Demographic Information
Bangor has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Bangor demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Bangor.
| Business Size | # of
Businesses |
| 1-4 Employees |
10424 |
| 5-9 Employees |
4788 |
| 10-19 Employees |
3840 |
| 20-49 Employees |
2736 |
| 50-99 Employees |
1044 |
| 100-249 Employees |
624 |
| 250-499 Employees |
132 |
| 500-999 Employees |
24 |
| 1000+ Employees |
12 |
| All Bangor Businesses |
23624 |
As a new Bangor entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Bangor 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 |
| Advertising Agencies |
3 |
| Alkalies and Chlorine Manufacturing |
1 |
| Ambulance Services |
3 |
| Amusement Arcades |
1 |
| Appliance Repair and Maintenance |
1 |
| Architectural Services |
2 |
| Armored Car Services |
2 |
| Art Dealers |
1 |
| Automobile Driving Schools |
3 |
| Automotive Glass Replacement Shops |
3 |
| Automotive Parts and Accessories Stores |
16 |
| Barber Shops |
1 |
| Beauty Salons |
17 |
| Beer and Ale Merchant Wholesalers |
2 |
| Beer, Wine, and Liquor Stores |
1 |
| Blood and Organ Banks |
2 |
| Boat Dealers |
1 |
| Book Publishers |
1 |
| Book Stores |
6 |
| Bowling Centers |
1 |
| Business Associations |
4 |
| Cable and Other Program Distribution |
2 |
| Canvas and Related Product Mills |
2 |
| Car Washes |
4 |
| Carpet and Upholstery Cleaning Services |
3 |
| Caterers |
3 |
| Cemeteries and Crematories |
2 |
| Child and Youth Services |
5 |
| Child Day Care Services |
26 |
| Children's and Infants' Clothing Stores |
2 |
| Civic and Social Organizations |
9 |
| Claims Adjusting |
2 |
| Clothing Accessories Stores |
2 |
| Coin-Operated Laundries and Drycleaners |
4 |
| Collection Agencies |
2 |
| Commercial Lithographic Printing |
4 |
| Commercial Screen Printing |
1 |
| Commodity Contracts Brokerage |
1 |
| Computer and Software Stores |
5 |
| Computer Systems Design Services |
5 |
| Consumer Lending |
3 |
| Convenience Stores |
8 |
| Convention and Trade Show Organizers |
1 |
| Convention and Visitors Bureaus |
1 |
| Cosmetology and Barber Schools |
1 |
| Couriers |
6 |
| Court Reporting and Stenotype Services |
1 |
| Credit Card Issuing |
1 |
| Credit Unions |
5 |
| Curtain and Drapery Mills |
2 |
| Custom Computer Programming Services |
7 |
| Dental Laboratories |
2 |
| Diagnostic Imaging Centers |
3 |
| Digital Printing |
1 |
| Direct Life Insurance Carriers |
6 |
| Discount Department Stores |
3 |
| Document Preparation Services |
2 |
| Drafting Services |
2 |
| Drinking Places (Alcoholic Beverages) |
11 |
| Drywall and Insulation Contractors |
2 |
| Educational Support Services |
1 |
| Electric Power Distribution |
1 |
| Electrical Contractors |
16 |
| Electronic Shopping |
4 |
| Elementary and Secondary Schools |
4 |
| Emergency and Other Relief Services |
1 |
| Employment Placement Agencies |
2 |
| Engineering Services |
7 |
| Environmental Consulting Services |
1 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
1 |
| Facilities Support Services |
3 |
| Family Clothing Stores |
12 |
| Family Planning Centers |
2 |
| Fine Arts Schools |
2 |
| Finish Carpentry Contractors |
4 |
| Fish and Seafood Markets |
1 |
| Fitness and Recreational Sports Centers |
10 |
| Floor Covering Stores |
5 |
| Flooring Contractors |
4 |
| Florists |
5 |
| Fluid Milk Manufacturing |
1 |
| Food (Health) Supplement Stores |
2 |
| Food Service Contractors |
4 |
| Framing Contractors |
2 |
| Freight Transportation Arrangement |
4 |
| Full-Service Restaurants |
46 |
| Funeral Homes and Funeral Services |
3 |
| Furniture Stores |
6 |
| General Automotive Repair |
14 |
| General Freight Trucking, Local |
5 |
| General Medical and Surgical Hospitals |
3 |
| General Rental Centers |
2 |
| General Warehousing and Storage |
3 |
| Gift, Novelty, and Souvenir Stores |
13 |
| Grantmaking Foundations |
3 |
| Graphic Design Services |
4 |
| Hardware Merchant Wholesalers |
1 |
| Hardware Stores |
2 |
| Heating Oil Dealers |
11 |
| Hobby, Toy, and Game Stores |
4 |
| Home Centers |
1 |
| Home Furnishing Merchant Wholesalers |
1 |
| Home Health Care Services |
7 |
| Home Health Equipment Rental |
5 |
| Homes for the Elderly |
12 |
| Household Appliance Stores |
3 |
| Ice Manufacturing |
1 |
| Industrial Design Services |
1 |
| Industrial Launderers |
1 |
| Insurance Agencies and Brokerages |
26 |
| Internet Publishing and Broadcasting |
1 |
| Internet Service Providers |
2 |
| Investigation Services |
2 |
| Investment Advice |
5 |
| Janitorial Services |
17 |
| Jewelry Stores |
10 |
| Junior Colleges |
2 |
| Land Subdivision |
3 |
| Landscaping Services |
12 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
45 |
| Limousine Service |
1 |
| Local Messengers and Local Delivery |
2 |
| Locksmiths |
1 |
| Logging |
3 |
| Manifold Business Forms Printing |
1 |
| Manufactured (Mobile) Home Dealers |
1 |
| Marketing Consulting Services |
4 |
| Masonry Contractors |
3 |
| Meat Processed from Carcasses |
1 |
| Media Representatives |
2 |
| Medical Laboratories |
4 |
| Men's Clothing Stores |
2 |
| Mobile Food Services |
1 |
| Mortgage and Nonmortgage Loan Brokers |
2 |
| Motion Picture and Video Production |
1 |
| Motor Vehicle Body Manufacturing |
2 |
| Motor Vehicle Towing |
1 |
| Motorcycle Dealers |
3 |
| Museums |
3 |
| Musical Groups and Artists |
1 |
| Musical Instrument and Supplies Stores |
2 |
| Nail Salons |
1 |
| Natural Gas Distribution |
1 |
| New Car Dealers |
10 |
| New Housing Operative Builders |
2 |
| News Dealers and Newsstands |
1 |
| Newspaper Publishers |
3 |
| Nitrogenous Fertilizer Manufacturing |
1 |
| Nonresidential Property Managers |
5 |
| Nursing Care Facilities |
6 |
| Office Administrative Services |
5 |
| Office Equipment Merchant Wholesalers |
4 |
| Office Supplies and Stationery Stores |
3 |
| Offices of Certified Public Accountants |
18 |
| Offices of Chiropractors |
7 |
| Offices of Dentists |
34 |
| Offices of Lawyers |
63 |
| Offices of Optometrists |
8 |
| Offices of Other Holding Companies |
4 |
| Offices of Podiatrists |
5 |
| Offices of Real Estate Appraisers |
10 |
| One-Hour Photofinishing |
1 |
| Ophthalmic Goods Manufacturing |
1 |
| Optical Goods Stores |
5 |
| Outdoor Power Equipment Stores |
2 |
| Paging |
1 |
| Paint and Wallpaper Stores |
4 |
| Painting and Wall Covering Contractors |
6 |
| Parking Lots and Garages |
2 |
| Passenger Car Rental |
6 |
| Payroll Services |
5 |
| Periodical Publishers |
2 |
| Pet and Pet Supplies Stores |
5 |
| Pet Care (except Veterinary) Services |
6 |
| Petroleum Bulk Stations and Terminals |
3 |
| Pharmacies and Drug Stores |
5 |
| Photography Studios, Portrait |
7 |
| Portfolio Management |
7 |
| Private Mail Centers |
1 |
| Professional Organizations |
1 |
| Public Relations Agencies |
1 |
| Quick Printing |
2 |
| Racetracks |
2 |
| Radio Stations |
11 |
| Real Estate Credit |
9 |
| Recreational Vehicle Dealers |
1 |
| Residential Property Managers |
6 |
| Residential Remodelers |
7 |
| Retail Bakeries |
3 |
| Reupholstery and Furniture Repair |
1 |
| Roofing Contractors |
5 |
| Rooming and Boarding Houses |
1 |
| Savings Institutions |
7 |
| Scheduled Passenger Air Transportation |
5 |
| School and Employee Bus Transportation |
1 |
| Securities Brokerage |
12 |
| Security Guards and Patrol Services |
3 |
| Sheet Metal Work Manufacturing |
1 |
| Shoe Stores |
13 |
| Sign Manufacturing |
4 |
| Site Preparation Contractors |
9 |
| Snack and Nonalcoholic Beverage Bars |
13 |
| Software Publishers |
1 |
| Solid Waste Collection |
1 |
| Sporting Goods Stores |
14 |
| Sports and Recreation Instruction |
4 |
| Support Activities for Forestry |
1 |
| Tax Preparation Services |
6 |
| Taxi Service |
4 |
| Telecommunications Resellers |
1 |
| Telemarketing Bureaus |
2 |
| Telephone Answering Services |
1 |
| Television Broadcasting |
3 |
| Temporary Help Services |
7 |
| Temporary Shelters |
4 |
| Testing Laboratories |
1 |
| Theater Companies and Dinner Theaters |
1 |
| Timber Tract Operations |
4 |
| Tire Dealers |
7 |
| Tire Retreading |
1 |
| Title Abstract and Settlement Offices |
1 |
| Tobacco Stores |
2 |
| Tour Operators |
1 |
| Travel Agencies |
5 |
| Used Car Dealers |
11 |
| Used Household and Office Goods Moving |
3 |
| Used Merchandise Stores |
6 |
| Vending Machine Operators |
2 |
| Veterinary Services |
5 |
| Video Tape and Disc Rental |
5 |
| Vocational Rehabilitation Services |
6 |
| Voluntary Health Organizations |
1 |
| Warehouse Clubs and Supercenters |
1 |
| Wholesale Trade Agents and Brokers |
5 |
| Wired Telecommunications Carriers |
9 |
| Women's Clothing Stores |
11 |
Is a Franchise Opportunity Right For You?
As you drive around Bangor, it's apparent that franchising has become a very popular way to start a business. Evidently, there must be some significant advantages to purchasing a franchise.
We highly recommend you consider franchising as an option. This site has dozens of articles on franchising, such as Questions to Ask Franchisors. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include NuMarkets eBay Store and Coyote Canyon. Alternatively, you can browse franchise categories, such as Bakery Franchises and Moving Franchises.
Note on Bangor Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Bangor.
Selecting a Name For Your Venture
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
As a final piece of advice, remember that because you are starting a business in Bangor, it's critical that you ensure that your company name has not already been claimed by another Maine business.
Company Formation in Bangor, Maine
A critical step is ensuring 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.
When forming a company, you will choose from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in Maine, you don't necessarily have to incorporate in Maine. In fact, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Subchapter S Corporations. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Bangor, Maine, our web page covering Incorporating in Maine may be a useful resource if you decide to incorporate in Maine.
Marketing Your New Company
To rise above the crowd in Bangor and build your business, having an excellent marketing plan is fundamental to your business achieving its goals.
We have some useful resources on this site for entrepreneurs who are working on marketing plans. Pricing and Positioning is an article that will generate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
Never Give Up
As an entrepreneur in Bangor, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Bangor businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Bangor, Maine
Here are more links that we believe will help you be successful in starting a business in Bangor.
- Resources for Bangor, Maine Entrepreneurs - Browse a variety of resources we've collected to assist Bangor entrepreneurs.
- Maine Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Maine.
- Maine Small Business Development Center - Maine Small Business Development Centers and its technology-focused group, the Maine Small Business & Technology Development Centers, provide comprehensive business management assistance, training, resource and information services to Maine's entrepreneurs and small business owners.
- Bangor, Maine Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Bangor, Maine newspapers, including ad costs for newspapers serving the Bangor area.
- Bangor, Maine Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Bangor, Maine area radio stations.
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