Thinking about starting a business in Crystal Lake, Illinois? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Crystal Lake.
Are You Sure You Want to Do This?
Running your own business is hard work, and can be orders of magnitude more strenuous than working as an employee. Are you sure you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Crystal Lake. 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.
Crystal Lake, Illinois Demographic Information
Crystal Lake has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Crystal Lake demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Crystal Lake.
| Business Size | # of
Businesses |
| 1-4 Employees |
15590 |
| 5-9 Employees |
4920 |
| 10-19 Employees |
3660 |
| 20-49 Employees |
2535 |
| 50-99 Employees |
1095 |
| 100-249 Employees |
465 |
| 250-499 Employees |
135 |
| 500-999 Employees |
0 |
| 1000+ Employees |
0 |
| All Crystal Lake Businesses |
28400 |
As a new Crystal Lake entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Crystal Lake 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 |
5 |
| Ambulance Services |
1 |
| Amusement and Theme Parks |
1 |
| Amusement Arcades |
1 |
| Apprenticeship Training |
1 |
| Architectural Services |
13 |
| Art Dealers |
1 |
| Audio and Video Equipment Manufacturing |
1 |
| Automobile Driving Schools |
1 |
| Automotive Exhaust System Repair |
3 |
| Automotive Glass Replacement Shops |
3 |
| Automotive Parts and Accessories Stores |
5 |
| Automotive Transmission Repair |
4 |
| Barber Shops |
1 |
| Beauty Salons |
23 |
| Beer and Ale Merchant Wholesalers |
1 |
| Beer, Wine, and Liquor Stores |
3 |
| Blood and Organ Banks |
1 |
| Book Publishers |
1 |
| Book Stores |
4 |
| Bowling Centers |
3 |
| Broadwoven Fabric Finishing Mills |
1 |
| Building Inspection Services |
1 |
| Business Associations |
2 |
| Business to Business Electronic Markets |
1 |
| Cafeterias |
1 |
| Camera and Photographic Supplies Stores |
2 |
| Canvas and Related Product Mills |
1 |
| Car Washes |
4 |
| Carpet and Upholstery Cleaning Services |
7 |
| Caterers |
1 |
| Cemeteries and Crematories |
1 |
| Child Day Care Services |
12 |
| Children's and Infants' Clothing Stores |
1 |
| Civic and Social Organizations |
3 |
| Clothing Accessories Stores |
2 |
| Coin-Operated Laundries and Drycleaners |
4 |
| Commercial Lithographic Printing |
5 |
| Commercial Screen Printing |
4 |
| Computer and Software Stores |
4 |
| Computer Facilities Management Services |
2 |
| Computer Systems Design Services |
10 |
| Confectionery and Nut Stores |
3 |
| Confectionery Merchant Wholesalers |
2 |
| Construction Machinery Manufacturing |
1 |
| Consumer Lending |
5 |
| Continuing Care Retirement Communities |
1 |
| Convenience Stores |
6 |
| Convention and Trade Show Organizers |
4 |
| Copper Foundries (except Die-Casting) |
1 |
| Couriers |
2 |
| Court Reporting and Stenotype Services |
1 |
| Credit Unions |
1 |
| Curtain and Drapery Mills |
1 |
| Custom Compounding of Purchased Resins |
1 |
| Custom Computer Programming Services |
16 |
| Dental Laboratories |
2 |
| Diet and Weight Reducing Centers |
2 |
| Direct Life Insurance Carriers |
1 |
| Direct Title Insurance Carriers |
11 |
| Directory and Mailing List Publishers |
1 |
| Discount Department Stores |
4 |
| Display Advertising |
1 |
| Drinking Places (Alcoholic Beverages) |
6 |
| Drywall and Insulation Contractors |
3 |
| Educational Support Services |
1 |
| Electrical Contractors |
19 |
| Electronic Shopping |
1 |
| Elementary and Secondary Schools |
2 |
| Emergency and Other Relief Services |
1 |
| Employment Placement Agencies |
1 |
| Engineering Services |
12 |
| Environmental Consulting Services |
1 |
| Exam Preparation and Tutoring |
2 |
| Family Clothing Stores |
2 |
| Farm Product Warehousing and Storage |
1 |
| Farm Supplies Merchant Wholesalers |
1 |
| Fine Arts Schools |
7 |
| Finish Carpentry Contractors |
14 |
| Fitness and Recreational Sports Centers |
14 |
| Floor Covering Stores |
3 |
| Flooring Contractors |
7 |
| Florists |
3 |
| Food (Health) Supplement Stores |
3 |
| Food Product Machinery Manufacturing |
2 |
| Food Service Contractors |
5 |
| Formal Wear and Costume Rental |
1 |
| Framing Contractors |
1 |
| Freight Transportation Arrangement |
4 |
| Full-Service Restaurants |
44 |
| Funeral Homes and Funeral Services |
1 |
| Furniture Merchant Wholesalers |
1 |
| Furniture Stores |
13 |
| General Automotive Repair |
23 |
| General Freight Trucking, Local |
9 |
| General Rental Centers |
3 |
| General Warehousing and Storage |
1 |
| Gift, Novelty, and Souvenir Stores |
11 |
| Glass and Glazing Contractors |
4 |
| Golf Courses and Country Clubs |
3 |
| Grantmaking Foundations |
2 |
| Graphic Design Services |
5 |
| Hand and Edge Tool Manufacturing |
1 |
| Hardware Merchant Wholesalers |
7 |
| Hardware Stores |
2 |
| Hobby, Toy, and Game Stores |
6 |
| Home Centers |
3 |
| Home Health Care Services |
5 |
| Home Health Equipment Rental |
1 |
| Homes for the Elderly |
1 |
| Household Appliance Stores |
4 |
| Industrial Design Services |
1 |
| Industrial Launderers |
2 |
| Industrial Mold Manufacturing |
2 |
| Insurance Agencies and Brokerages |
44 |
| Interior Design Services |
8 |
| Investment Advice |
3 |
| Irradiation Apparatus Manufacturing |
1 |
| Janitorial Services |
21 |
| Jewelry Stores |
5 |
| Landscape Architectural Services |
3 |
| Landscaping Services |
25 |
| Limited-Service Restaurants |
37 |
| Limousine Service |
2 |
| Local Messengers and Local Delivery |
1 |
| Locksmiths |
1 |
| Machine Shops |
6 |
| Mail-Order Houses |
2 |
| Manifold Business Forms Printing |
1 |
| Marketing Consulting Services |
11 |
| Masonry Contractors |
7 |
| Meat Markets |
1 |
| Media Representatives |
2 |
| Men's Clothing Stores |
1 |
| Metal Heat Treating |
1 |
| Metal Stamping |
2 |
| Miscellaneous Intermediation |
1 |
| Mortgage and Nonmortgage Loan Brokers |
12 |
| Motion Picture and Video Production |
2 |
| Motor and Generator Manufacturing |
1 |
| Motor Vehicle Towing |
2 |
| Motorcycle Dealers |
3 |
| Musical Instrument and Supplies Stores |
1 |
| Natural Gas Distribution |
1 |
| New Car Dealers |
11 |
| New Housing Operative Builders |
8 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
2 |
| Nonwoven Fabric Mills |
1 |
| Nursing Care Facilities |
2 |
| Office Administrative Services |
5 |
| Office Equipment Merchant Wholesalers |
1 |
| Office Supplies and Stationery Stores |
5 |
| Offices of Certified Public Accountants |
23 |
| Offices of Chiropractors |
12 |
| Offices of Dentists |
45 |
| Offices of Lawyers |
43 |
| Offices of Optometrists |
6 |
| Offices of Podiatrists |
3 |
| Offices of Real Estate Appraisers |
9 |
| One-Hour Photofinishing |
1 |
| Optical Goods Stores |
6 |
| Outdoor Power Equipment Stores |
1 |
| Paging |
1 |
| Paint and Coating Manufacturing |
2 |
| Paint and Wallpaper Stores |
3 |
| Painting and Wall Covering Contractors |
16 |
| Passenger Car Leasing |
1 |
| Passenger Car Rental |
2 |
| Periodical Publishers |
1 |
| Pet and Pet Supplies Stores |
6 |
| Pet Care (except Veterinary) Services |
3 |
| Pharmacies and Drug Stores |
3 |
| Photography Studios, Portrait |
5 |
| Plastics Bag Manufacturing |
1 |
| Portfolio Management |
1 |
| Precision Turned Product Manufacturing |
3 |
| Prepress Services |
1 |
| Printing Ink Manufacturing |
1 |
| Professional Employer Organizations |
1 |
| Professional Organizations |
1 |
| Public Relations Agencies |
1 |
| Quick Printing |
3 |
| Radio Stations |
1 |
| Ready-Mix Concrete Manufacturing |
1 |
| Real Estate Credit |
7 |
| Residential Property Managers |
4 |
| Residential Remodelers |
31 |
| Retail Bakeries |
2 |
| Reupholstery and Furniture Repair |
3 |
| Roofing Contractors |
7 |
| Sales Financing |
3 |
| Savings Institutions |
4 |
| Securities Brokerage |
6 |
| Shoe Stores |
8 |
| Siding Contractors |
6 |
| Site Preparation Contractors |
3 |
| Snack and Nonalcoholic Beverage Bars |
7 |
| Software Publishers |
3 |
| Solid Waste Collection |
1 |
| Sporting Goods Stores |
11 |
| Sports and Recreation Instruction |
5 |
| Tax Preparation Services |
5 |
| Telecommunications Resellers |
3 |
| Telephone Answering Services |
1 |
| Temporary Help Services |
11 |
| Temporary Shelters |
1 |
| Textile Bag Mills |
1 |
| Tire and Tube Merchant Wholesalers |
1 |
| Tire Dealers |
3 |
| Title Abstract and Settlement Offices |
6 |
| Tobacco Stores |
1 |
| Travel Agencies |
4 |
| Used Car Dealers |
5 |
| Used Household and Office Goods Moving |
1 |
| Used Merchandise Stores |
1 |
| Vending Machine Operators |
1 |
| Veterinary Services |
4 |
| Video Tape and Disc Rental |
2 |
| Warehouse Clubs and Supercenters |
1 |
| Wholesale Trade Agents and Brokers |
46 |
| Window Treatment Stores |
3 |
| Wired Telecommunications Carriers |
3 |
| Women's Clothing Stores |
7 |
| Zoos and Botanical Gardens |
1 |
Have You Considered Buying an Existing Crystal Lake Business?
We've created a helpful website page for those who want to Buy a Business in Illinois. Follow that link and you can assess several good businesses for sale in Crystal Lake.
Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.
Naming the Business
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.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
On a final note, given that you are planning on starting a business in Crystal Lake, it's critical that you ensure that you will be the only Illinois company using the business name you have chosen.
Forming a Company in Crystal Lake, Illinois
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will separate 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.
Incorporation is a very popular way to form a business. 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. If you are starting a business in Illinois, it doesn't mean you are required to incorporate in Illinois. In fact, you are allowed to incorporate wherever you want. 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 Incorporating Online. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Crystal Lake, Illinois, our information on Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.
Startup Financing Basics
Finding the funds to fuel the growth of your Crystal Lake business is a difficult chore. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
Take advantage of our many articles on raising money, such as Getting a Small Business Loan.
For Crystal Lake entrepreneurs on the hunt for startup funding, browse our List of Illinois Angel Investors and our List of Illinois Venture Capital Firms.
Selling Tips
Do you know how to sell? In order to attract customers to your new Crystal Lake business, you need to focus on sales.
So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.
Hiring Good Sales People is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Next Steps
As an entrepreneur in Crystal Lake, 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 Crystal Lake businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Crystal Lake, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Crystal Lake, Illinois
Here are more links that we believe will help you be successful in starting a business in Crystal Lake.
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