April 26, 2019  
 
  Entrepreneurial Resources - Advice for Iowa Entrepreneurs  
  Colfax, Iowa Resources for Entrepreneurs  
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Opening a Business in Colfax, Iowa

Contemplating starting a business in Colfax, Iowa? We walk you through the process of opening a business in Colfax.

Which Business to Choose?

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 Finding Your Niche in Life.

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 Opening an Auto Gas Tanks Service & Repair Business guide or our Starting a Stevedoring Contractors Business guide.

Always keep in mind that starting a business in Colfax has some implications. If Colfax already has plenty of the kind of business you want to start, you might want to change your plans. A critical consideration is whether Colfax demographics mesh well with your startup concept.

Colfax, Iowa Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 1080
5-9 Employees 192
10-19 Employees 336
20-49 Employees 72
50-99 Employees 24
100-249 Employees 0
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Colfax Businesses 1704

As a new Colfax entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Colfax 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
Automotive Parts and Accessories Stores 1
Beauty Salons 1
Bowling Centers 1
Child and Youth Services 1
Child Day Care Services 1
Construction Sand and Gravel Mining 1
Drywall and Insulation Contractors 1
Electrical Contractors 2
Finish Carpentry Contractors 1
Fitness and Recreational Sports Centers 1
Full-Service Restaurants 2
Funeral Homes and Funeral Services 1
General Automotive Repair 1
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 1
Hardware Stores 1
Hobby, Toy, and Game Stores 1
Insurance Agencies and Brokerages 1
Landscaping Services 1
Limited-Service Restaurants 1
Livestock Merchant Wholesalers 1
Machine Shops 1
Mail-Order Houses 2
Museums 1
Offices of Dentists 1
Offices of Lawyers 1
Offices of Real Estate Appraisers 1
Painting and Wall Covering Contractors 1
Pharmacies and Drug Stores 1
Photography Studios, Portrait 1
Recreational Vehicle Dealers 1
Snack and Nonalcoholic Beverage Bars 2
Solid Waste Collection 1
Tax Preparation Services 1
Veterinary Services 2
Video Tape and Disc Rental 1
Wholesale Trade Agents and Brokers 1

Have You Considered Franchising?

As you drive around Colfax, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. So, it probably makes sense for you to consider franchising too.

We advise the entrepreneurs we work with to evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as The Franchising Process. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

You can find franchise opportunities by browsing our Franchise Opportunities Directory.

Sample franchise opportunities include SOUP 'N JUICE and Kidzone Party and Play Place. Alternatively, you can browse franchise categories, such as Baby Franchises and Bath Remodeling Franchises.

Note on Colfax Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Colfax.

Do You Need a Business Plan?

A business plan is critical in maximizing the prospects of your new company. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.

If writing a business plan is on your to-do list, be sure to read Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Iowa.

Raising Money for Your New Venture

Getting your Colfax business the capital it needs to succeed requires strong organization skills and perseverance. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.

To learn about raising money, we recommend you read the fundraising articles on our site, such as How Equity Dilution Works.

For Colfax entrepreneurs on the hunt for startup funding, check out our List of Iowa Angel Investors and our List of Iowa Venture Capital Firms.

Improving Your Entrepreneurial Skillset

Good entrepreneurs recognize that what they know now may not be enough to ensure their future success.

As an entrepreneur who lives in Colfax, Iowa, you will want to take advantage of the many programs available at nearby Iowa universities, colleges and community colleges. It's also wise to see if there are any networking organizations for Colfax entrepreneurs.

Moving Forward

Most new Colfax 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 Colfax and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Colfax, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Colfax, Iowa

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

  • Resources for Colfax, Iowa Entrepreneurs - Browse a variety of resources we've collected to assist Colfax entrepreneurs.
  • Iowa Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Iowa.
  • Iowa Small Business Development Center - The Iowa SBDC conducts research, counsels, and trains business people in management, financing, and operating small businesses. They provide comprehensive information services and access to experts in a variety of fields. This is a great resource for Iowa entrepreneurs!
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Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

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