Are you starting a business in Elyria, Ohio? This article discusses the most important things to consider when opening a business in Elyria.
Is Becoming an Entrepreneur Right for You?
An entrepreneurial life is hard work, much harder than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Elyria. Get their take on what it's really like to be an entrepreneur.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Elyria, Ohio Demographic Information
Elyria has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Elyria demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Elyria.
| Business Size | # of
Businesses |
| 1-4 Employees |
4374 |
| 5-9 Employees |
2154 |
| 10-19 Employees |
1590 |
| 20-49 Employees |
1098 |
| 50-99 Employees |
408 |
| 100-249 Employees |
234 |
| 250-499 Employees |
30 |
| 500-999 Employees |
12 |
| 1000+ Employees |
6 |
| All Elyria Businesses |
9906 |
As a new Elyria entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Elyria 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 |
1 |
| Aluminum Foundries (except Die-Casting) |
1 |
| Ambulance Services |
1 |
| Appliance Repair and Maintenance |
2 |
| Architectural Services |
2 |
| Art Dealers |
2 |
| Automotive Glass Replacement Shops |
3 |
| Automotive Parts and Accessories Stores |
13 |
| Automotive Transmission Repair |
2 |
| Barber Shops |
1 |
| Beauty Salons |
19 |
| Beer and Ale Merchant Wholesalers |
1 |
| Beer, Wine, and Liquor Stores |
3 |
| Blood and Organ Banks |
1 |
| Book Stores |
7 |
| Bowling Centers |
1 |
| Broom, Brush, and Mop Manufacturing |
1 |
| Business Associations |
2 |
| Cable and Other Program Distribution |
2 |
| Cafeterias |
5 |
| Camera and Photographic Supplies Stores |
3 |
| Car Washes |
12 |
| Carpet and Upholstery Cleaning Services |
2 |
| Caterers |
1 |
| Cemeteries and Crematories |
1 |
| Child and Youth Services |
3 |
| Child Day Care Services |
11 |
| Civic and Social Organizations |
12 |
| Clothing Accessories Stores |
4 |
| Coin-Operated Laundries and Drycleaners |
3 |
| Commercial Lithographic Printing |
4 |
| Computer and Software Stores |
6 |
| Computer Systems Design Services |
2 |
| Consumer Lending |
6 |
| Continuing Care Retirement Communities |
2 |
| Convenience Stores |
7 |
| Couriers |
1 |
| Court Reporting and Stenotype Services |
2 |
| Credit Unions |
7 |
| Custom Compounding of Purchased Resins |
1 |
| Custom Computer Programming Services |
5 |
| Custom Roll Forming |
1 |
| Dental Laboratories |
2 |
| Diagnostic Imaging Centers |
1 |
| Diet and Weight Reducing Centers |
3 |
| Direct Life Insurance Carriers |
1 |
| Direct Mail Advertising |
1 |
| Direct Title Insurance Carriers |
5 |
| Discount Department Stores |
3 |
| Display Advertising |
1 |
| Drinking Places (Alcoholic Beverages) |
28 |
| Drywall and Insulation Contractors |
5 |
| Educational Support Services |
1 |
| Electric Power Distribution |
2 |
| Electrical Contractors |
14 |
| Electronic Connector Manufacturing |
1 |
| Electronic Shopping |
2 |
| Elementary and Secondary Schools |
6 |
| Emergency and Other Relief Services |
1 |
| Engineering Services |
4 |
| Environmental Consulting Services |
1 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
2 |
| Family Clothing Stores |
6 |
| Family Planning Centers |
1 |
| Fine Arts Schools |
1 |
| Finish Carpentry Contractors |
12 |
| Fitness and Recreational Sports Centers |
6 |
| Floor Covering Stores |
8 |
| Flooring Contractors |
2 |
| Florists |
6 |
| Fluid Milk Manufacturing |
1 |
| Food (Health) Supplement Stores |
3 |
| Food Service Contractors |
12 |
| Formal Wear and Costume Rental |
1 |
| Framing Contractors |
4 |
| Full-Service Restaurants |
38 |
| Funeral Homes and Funeral Services |
6 |
| Furniture Stores |
6 |
| General Automotive Repair |
18 |
| General Freight Trucking, Local |
3 |
| General Medical and Surgical Hospitals |
1 |
| General Rental Centers |
1 |
| General Warehousing and Storage |
2 |
| Gift, Novelty, and Souvenir Stores |
8 |
| Glass and Glazing Contractors |
1 |
| Golf Courses and Country Clubs |
5 |
| Grantmaking Foundations |
2 |
| Graphic Design Services |
1 |
| Hardware Merchant Wholesalers |
2 |
| Hardware Stores |
4 |
| Heating Oil Dealers |
1 |
| Hobby, Toy, and Game Stores |
2 |
| Home Centers |
3 |
| Home Health Care Services |
6 |
| Homes for the Elderly |
2 |
| Household Appliance Stores |
6 |
| Industrial Building Construction |
1 |
| Industrial Design Services |
1 |
| Industrial Mold Manufacturing |
4 |
| Industrial Pattern Manufacturing |
3 |
| Insurance Agencies and Brokerages |
34 |
| Internet Service Providers |
1 |
| Investment Advice |
2 |
| Iron Foundries |
1 |
| Irradiation Apparatus Manufacturing |
1 |
| Janitorial Services |
18 |
| Jewelry Stores |
13 |
| Kidney Dialysis Centers |
2 |
| Land Subdivision |
2 |
| Landscape Architectural Services |
1 |
| Landscaping Services |
15 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
53 |
| Limousine Service |
1 |
| Locksmiths |
2 |
| Machine Shops |
14 |
| Mail-Order Houses |
3 |
| Manufactured (Mobile) Home Dealers |
1 |
| Marketing Consulting Services |
1 |
| Masonry Contractors |
4 |
| Meat Markets |
1 |
| Medical Laboratories |
1 |
| Men's Clothing Stores |
1 |
| Metal Heat Treating |
2 |
| Metal Stamping |
2 |
| Metal Window and Door Manufacturing |
1 |
| Miscellaneous Intermediation |
1 |
| Motor Vehicle Body Manufacturing |
1 |
| Motor Vehicle Towing |
2 |
| Motorcycle Dealers |
3 |
| Museums |
1 |
| Musical Groups and Artists |
1 |
| Musical Instrument and Supplies Stores |
1 |
| Nail Salons |
4 |
| New Car Dealers |
8 |
| New Housing Operative Builders |
2 |
| News Dealers and Newsstands |
1 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
4 |
| Nursing Care Facilities |
5 |
| Office Administrative Services |
4 |
| Office Equipment Merchant Wholesalers |
1 |
| Office Supplies and Stationery Stores |
2 |
| Offices of Certified Public Accountants |
11 |
| Offices of Chiropractors |
7 |
| Offices of Dentists |
29 |
| Offices of Lawyers |
31 |
| Offices of Optometrists |
7 |
| Offices of Other Holding Companies |
1 |
| Offices of Podiatrists |
3 |
| Offices of Real Estate Appraisers |
5 |
| Ophthalmic Goods Merchant Wholesalers |
1 |
| Optical Goods Stores |
7 |
| Outdoor Power Equipment Stores |
2 |
| Packaging and Labeling Services |
2 |
| Paint and Wallpaper Stores |
4 |
| Painting and Wall Covering Contractors |
13 |
| Paper (except Newsprint) Mills |
1 |
| Passenger Car Rental |
1 |
| Pet and Pet Supplies Stores |
2 |
| Pet Care (except Veterinary) Services |
2 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
8 |
| Photography Studios, Portrait |
6 |
| Plastics Bag Manufacturing |
1 |
| Plate Work Manufacturing |
2 |
| Portfolio Management |
3 |
| Power-Driven Handtool Manufacturing |
1 |
| Precision Turned Product Manufacturing |
5 |
| Professional Employer Organizations |
1 |
| Professional Organizations |
2 |
| Quick Printing |
1 |
| Radio Stations |
1 |
| Ready-Mix Concrete Manufacturing |
3 |
| Real Estate Credit |
7 |
| Refrigerated Warehousing and Storage |
1 |
| Residential Property Managers |
3 |
| Residential Remodelers |
13 |
| Retail Bakeries |
1 |
| Reupholstery and Furniture Repair |
1 |
| Roofing Contractors |
9 |
| Savings Institutions |
5 |
| Saw Blade and Handsaw Manufacturing |
1 |
| School and Employee Bus Transportation |
1 |
| Securities Brokerage |
7 |
| Shoe Stores |
10 |
| Siding Contractors |
8 |
| Sign Manufacturing |
1 |
| Site Preparation Contractors |
8 |
| Snack and Nonalcoholic Beverage Bars |
12 |
| Solid Waste Collection |
2 |
| Special Needs Transportation |
2 |
| Spice and Extract Manufacturing |
1 |
| Sporting Goods Stores |
7 |
| Sports and Recreation Instruction |
1 |
| Spring (Heavy Gauge) Manufacturing |
1 |
| Spring (Light Gauge) Manufacturing |
3 |
| Tax Preparation Services |
7 |
| Taxi Service |
1 |
| Telephone Answering Services |
1 |
| Temporary Help Services |
10 |
| Temporary Shelters |
1 |
| Tire and Tube Merchant Wholesalers |
1 |
| Tire Dealers |
6 |
| Title Abstract and Settlement Offices |
7 |
| Tobacco Stores |
2 |
| Travel Agencies |
4 |
| Used Car Dealers |
5 |
| Used Household and Office Goods Moving |
1 |
| Used Merchandise Stores |
5 |
| Vending Machine Operators |
3 |
| 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 |
7 |
| Wired Telecommunications Carriers |
3 |
| Women's Clothing Stores |
12 |
| Wood Container and Pallet Manufacturing |
2 |
Have You Considered Franchising?
As you drive around Elyria, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
We highly recommend you consider franchising as an option. This site has dozens of articles on franchising, such as How to Find Financing for Franchises. Get a thorough education on franchising by browsing all of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Sample franchise opportunities include Street Eats Limited and Brightscape Investment Centers. Alternatively, you can browse franchise categories, such as Auto Parts and Tools Franchises and Landscaping Franchises.
Note on Elyria Franchise Opportunities: To find out if a franchise you are interested in is available in Elyria, you will need to get in direct contact with the franchisor.
Should You Buy an Existing Elyria Business?
If you have some capital to play with, you may want to Buy a Business in Ohio. Follow that link and you may find several good businesses for sale in Elyria.
If you are serious about buying a business, you may want to read this article: How to Buy a Business.
Company Formation in Elyria, Ohio
It's essential that your business is formed as a legal entity that is separate from its owners. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
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. Just because you are starting a business in Ohio, it doesn't mean you are required to incorporate in Ohio. As it turns out, you can 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's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as How to Incorporate. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Elyria, Ohio, our information on Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
Raising Money for Your New Venture
Getting your Elyria business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
The good news is this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.
For Elyria entrepreneurs who need startup capital, check out our List of Ohio Angel Investors and our List of Ohio Venture Capital Firms.
Moving Forward
As an entrepreneur in Elyria, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
We are here to help Elyria businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Elyria entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Elyria, Ohio
Here are more links that we believe will help you be successful in starting a business in Elyria.
- Resources for Elyria, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Elyria entrepreneurs.
- Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
- Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.
- Elyria, Ohio Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Elyria, Ohio newspapers, including ad costs for newspapers serving the Elyria area.
- Elyria, Ohio Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Elyria, Ohio area radio stations.
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