Starting a Business in Colchester, Vermont

Thinking about starting a business in Colchester, Vermont? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Colchester.

Are You Sure You Want to Do This?

Before you get too far along in the process, consider your entrepreneurial instincts and capabilities.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

• Talk to other entrepreneurs in Colchester. Ask them candidly what it's like to run a business.
• We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
• Seek the advice of somebody who knows you well. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Choosing the Right Company to Start

An important decision is what kind of business you want to start. If you are struggling with what type of business to start, read Good Business Ideas.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.

Don't forget that your new startup will be located in Colchester. Think about what needs are currently being underserved in Colchester. Don't forget to review Colchester demographics to see if there's a market for what you want to sell.

Colchester, Vermont Demographic Information

Colchester has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Colchester demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Colchester.

Business Size	# of Businesses
1-4 Employees	837
5-9 Employees	252
10-19 Employees	177
20-49 Employees	120
50-99 Employees	36
100-249 Employees	30
250-499 Employees	9
500-999 Employees	3
1000+ Employees	3
All Colchester Businesses	1467

As a new Colchester entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Colchester 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
Architectural Services	4
Automotive Parts and Accessories Stores	2
Beauty Salons	3
Beer and Ale Merchant Wholesalers	1
Beer, Wine, and Liquor Stores	2
Boat Dealers	1
Book Stores	1
Bowling Centers	1
Building Inspection Services	1
Canvas and Related Product Mills	3
Car Washes	1
Carpet and Upholstery Cleaning Services	3
Caterers	1
Charter Bus Industry	1
Child Day Care Services	10
Civic and Social Organizations	2
Computer Facilities Management Services	1
Computer Systems Design Services	7
Computer Training	1
Confectionery Merchant Wholesalers	1
Convenience Stores	3
Custom Computer Programming Services	4
Direct Life Insurance Carriers	2
Document Preparation Services	1
Drinking Places (Alcoholic Beverages)	5
Drive-In Motion Picture Theaters	1
Drywall and Insulation Contractors	4
Educational Support Services	1
Electric Power Distribution	1
Electrical Contractors	6
Employment Placement Agencies	1
Engineering Services	5
Fine Arts Schools	1
Finish Carpentry Contractors	2
Fitness and Recreational Sports Centers	1
Floor Covering Stores	1
Flooring Contractors	1
Florists	1
Food Service Contractors	1
Framing Contractors	1
Full-Service Restaurants	6
Furniture Stores	4
General Automotive Repair	4
General Freight Trucking, Local	2
Gift, Novelty, and Souvenir Stores	1
Glass and Glazing Contractors	1
Grantmaking Foundations	1
Graphic Design Services	3
Hardware Stores	1
Heating Oil Dealers	2
Home Health Care Services	2
Industrial Building Construction	1
Insurance Agencies and Brokerages	11
Interior Design Services	2
Investment Advice	1
Janitorial Services	9
Landscape Architectural Services	1
Landscaping Services	7
Lessors of Other Real Estate Property	2
Limited-Service Restaurants	9
Local Messengers and Local Delivery	1
Machine Shops	1
Manufactured (Mobile) Home Dealers	1
Marinas	4
Marketing Consulting Services	2
Miscellaneous Intermediation	1
Mortgage and Nonmortgage Loan Brokers	1
Musical Groups and Artists	2
Nonresidential Property Managers	1
Office Administrative Services	1
Offices of Certified Public Accountants	6
Offices of Chiropractors	4
Offices of Dentists	8
Offices of Lawyers	1
Offices of Optometrists	1
Offices of Real Estate Appraisers	2
Outdoor Power Equipment Stores	1
Paint and Wallpaper Stores	1
Painting and Wall Covering Contractors	4
Payroll Services	1
Pet and Pet Supplies Stores	2
Pet Care (except Veterinary) Services	3
Pharmacies and Drug Stores	2
Professional Organizations	1
Radio Stations	9
Real Estate Credit	1
Residential Property Managers	2
Residential Remodelers	9
Reupholstery and Furniture Repair	2
Roofing Contractors	2
Sales Financing	1
Savings Institutions	1
Securities Brokerage	1
Sheet Metal Work Manufacturing	1
Shoe Stores	1
Siding Contractors	1
Site Preparation Contractors	4
Snack and Nonalcoholic Beverage Bars	4
Software Publishers	1
Sound Recording Studios	1
Special Needs Transportation	1
Sporting Goods Stores	3
Sports and Recreation Instruction	2
Tax Preparation Services	1
Television Broadcasting	5
Testing Laboratories	1
Tire and Tube Merchant Wholesalers	1
Tire Dealers	1
Travel Agencies	2
Used Car Dealers	1
Used Household and Office Goods Moving	3
Used Merchandise Stores	1
Veterinary Services	3
Video Tape and Disc Rental	2
Vocational Rehabilitation Services	1
Voluntary Health Organizations	1
Warehouse Clubs and Supercenters	1
Wholesale Trade Agents and Brokers	2
Wired Telecommunications Carriers	1

Should You Franchise?

As you drive around Colchester, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?

Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as How to Franchise a Business. Become a franchising expert of sorts by reading more of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

Note on Colchester Franchise Opportunities: To find out if a franchise you are interested in is available in Colchester, you will need to get in direct contact with the franchisor.

Have You Considered Buying an Existing Colchester Business?

If you have some capital to play with, you may want to Buy a Business in Vermont. Follow that link and you can assess several good businesses for sale in Colchester.

If you are serious about buying a business, you may want to read this article: Buying a Business.

Naming the Company

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.

Company names need to be easy to spell, easy to pronounce, and easy to remember.

Numerous company naming issues are discussed in more detail in this article: Branding Advice.

As a final piece of advice, remember that because you are planning on starting a business in Colchester, it's very important that you make sure no other Vermont company is using the business name you want to use.

Forming a Company in Colchester, Vermont

A critical step is ensuring that you choose the right legal structure for your new entity. Doing so will shield you from personal liability for business debts and obligations.

The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating 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. If you are starting a business in Vermont, it doesn't mean you are required to incorporate in Vermont. In fact, you can incorporate in any state you would like to. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.

There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Registered Agents. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Colchester, Vermont, our information on Incorporating in Vermont may be a useful resource if you decide to incorporate in Vermont.

Don't Forget to Create a Business Plan

A business plan is essential to the health of your new business. Indeed, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan is a recipe for disaster.

To learn more about business plans, read Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in Vermont.

Getting Money to Start a Business

Getting your Colchester business the capital it needs to succeed is a difficult chore. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.

Take advantage of our many articles on raising capital, such as Borrowing Money from Friends and Family.

For Colchester entrepreneurs with great ambition but a shortage of investment capital, check out our List of Vermont Angel Investors and our List of Vermont Venture Capital Firms.

Marketing Your New Startup

Whether your goal is to attract Colchester customers or you plan on selling elsewhere, you need a solid marketing plan.

You can learn a ton about marketing on our site. Point-of-Sale Displays is a good read to get your marketing juices flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.

The Art of Selling

Being able to sell is a key enabler to your business success. Whether you are focused on selling local customers in Colchester or are selling to customers throughout Vermont, the United States or even the world, you have to be able to sell.

Why should customers buy from you instead of buying from competitors? The good news is we can help you to make selling a big competitve advantage for your new firm.

Effective Sales Presentations is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Improving Your Entrepreneurial Skillset

Good business owners recognize that they need to continually improve.

With your business being located in Colchester, Vermont, you will want to take advantage of the many programs available at nearby Vermont universities, colleges and community colleges. It's also worthwhile to see if there are any Colchester networking organizations.

Next Steps

You have a dream -- starting a business in Colchester. To achieve your dream, you have to persevere, even when the odds are against you.

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in Colchester and throughout the United States . 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 Colchester, Vermont

Here are more links that we believe will help you be successful in starting a business in Colchester.

• Resources for Colchester, Vermont Entrepreneurs - Browse a variety of resources we've collected to assist Colchester entrepreneurs.
• Vermont Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Vermont.
• Vermont Small Business Development Center - The missionof Vermont Small Business Development Centers is to strengthen existing business entities and assist start-ups with high-quality, no-cost counseling and affordable training programs.
• Colchester, Vermont Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Colchester, Vermont newspapers, including ad costs for newspapers serving the Colchester area.

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