Starting a Business in Espanola, New Mexico

Are you starting a business in Espanola, New Mexico? This article discusses the most important things to consider when opening a business in Espanola.

Do You Have What It Takes?

Before announcing to the world that you are going to start your own business, consider your entrepreneurial instincts and capabilities.

Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:

• Talk to other entrepreneurs in Espanola. Get their candid feedback on what it takes to start a successful business.
• We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
• Have a candid conversation with friends and family. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.

Espanola, New Mexico Demographic Information

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

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

Business Size	# of Businesses
1-4 Employees	660
5-9 Employees	224
10-19 Employees	186
20-49 Employees	96
50-99 Employees	54
100-249 Employees	12
250-499 Employees	9
500-999 Employees	0
1000+ Employees	0
All Espanola Businesses	1241

As a new Espanola entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Espanola 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	1
Automotive Parts and Accessories Stores	3
Beauty Salons	2
Bed-and-Breakfast Inns	2
Beer, Wine, and Liquor Stores	3
Business Associations	2
Car Washes	2
Carpet and Upholstery Cleaning Services	1
Casinos (except Casino Hotels)	1
Cement Manufacturing	1
Child Day Care Services	5
Civic and Social Organizations	2
Coin-Operated Laundries and Drycleaners	2
Collection Agencies	1
Computer and Software Stores	2
Computer Systems Design Services	2
Construction Sand and Gravel Mining	1
Consumer Lending	6
Convenience Stores	1
Couriers	1
Credit Unions	3
Custom Computer Programming Services	1
Direct Title Insurance Carriers	2
Discount Department Stores	1
Drinking Places (Alcoholic Beverages)	4
Drywall and Insulation Contractors	7
Educational Support Services	1
Electric Power Distribution	1
Electrical Contractors	12
Elementary and Secondary Schools	2
Engineering Services	2
Exam Preparation and Tutoring	1
Family Clothing Stores	1
Fine Arts Schools	1
Fitness and Recreational Sports Centers	1
Flooring Contractors	1
Florists	2
Food Service Contractors	1
Fossil Fuel Electric Power Generation	1
Framing Contractors	1
Fruit and Vegetable Markets	1
Full-Service Restaurants	15
Funeral Homes and Funeral Services	1
Furniture Stores	2
General Automotive Repair	5
General Freight Trucking, Local	1
General Medical and Surgical Hospitals	1
General Rental Centers	1
Gift, Novelty, and Souvenir Stores	2
Hardware Stores	2
Home Centers	2
Home Health Care Services	2
Home Health Equipment Rental	2
Insurance Agencies and Brokerages	8
Investment Advice	2
Janitorial Services	2
Kidney Dialysis Centers	1
Land Subdivision	1
Landscaping Services	1
Lessors of Other Real Estate Property	2
Limited-Service Restaurants	21
Logging	1
Machine Shops	1
Manufactured (Mobile) Home Dealers	4
Marketing Consulting Services	1
Men's Clothing Stores	1
Motor Vehicle Body Manufacturing	1
Musical Instrument and Supplies Stores	1
New Car Dealers	3
Newspaper Publishers	1
Nursing Care Facilities	1
Office Supplies and Stationery Stores	1
Offices of Certified Public Accountants	1
Offices of Chiropractors	2
Offices of Dentists	3
Offices of Lawyers	5
Offices of Optometrists	2
Offices of Podiatrists	1
Offices of Real Estate Appraisers	2
Periodical Publishers	1
Pet Care (except Veterinary) Services	1
Petroleum Bulk Stations and Terminals	1
Pharmacies and Drug Stores	4
Public Relations Agencies	1
Radio Stations	1
Ready-Mix Concrete Manufacturing	1
Real Estate Credit	2
Remediation Services	1
Residential Remodelers	2
Roofing Contractors	2
Savings Institutions	1
School and Employee Bus Transportation	3
Shoe Stores	1
Snack and Nonalcoholic Beverage Bars	1
Sporting Goods Stores	1
Tax Preparation Services	2
Temporary Help Services	1
Temporary Shelters	1
Tire Dealers	2
Title Abstract and Settlement Offices	1
Tobacco Stores	1
Used Car Dealers	3
Used Merchandise Stores	1
Veterinary Services	3
Video Tape and Disc Rental	5
Vocational Rehabilitation Services	2
Warehouse Clubs and Supercenters	1
Water Supply and Irrigation Systems	3

Make Sure You Have a Business Plan

A business plan is vital in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan is a recipe for disaster.

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

Raising Funding for Your Company

Raising money to fund your new Espanola business requires strong organization skills and perseverance. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.

Take advantage of our many articles on securing funding, such as Attracting Investors.

For Espanola entrepreneurs who need startup capital, browse our List of New Mexico Angel Investors and our List of New Mexico Venture Capital Firms.

Getting the Word Out About Your New Venture

To rise above the crowd in Espanola and build your business, you'll need to have a good marketing plan.

There are myriad resources on this site to help you with your marketing plan. Internet Advertising 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.

How to Sell

Being able to sell is fundamental to your business success. Whether you are focused on selling local customers in Espanola or are selling to customers throughout New Mexico, the United States or even the world, you have to be able to sell.

So what does it take to bring in more prospects and close more business? Let us help you refine your selling techniques through our many useful sales advice tips.

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

Now It's Up To You

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

Owning your own business will be a daunting task, but you can do it.

This site is all about helping entrepreneurs in Espanola and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Espanola, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Espanola, New Mexico

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

• Resources for Espanola, New Mexico Entrepreneurs - Browse a variety of resources we've collected to assist Espanola entrepreneurs.
• New Mexico Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New Mexico.
• New Mexico Small Business Development Center - New Mexico Small Business Development Centers provide quality direct assistance, entrepreneurial education and resource links for potential and existing small businesses to strengthen the economy of New Mexico.
• Espanola, New Mexico Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Espanola, New Mexico newspapers, including ad costs for newspapers serving the Espanola area.
• Espanola, New Mexico Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Espanola, New Mexico area radio stations.

Starting-a-Business Guides for Other Cities in New Mexico
Starting a Business in Dulce
Starting a Business in Farmington

Browse All Business Startup Guides for New Mexico