Are you starting a business in Fairmont, West Virginia? This article discusses the most important things to consider when opening a business in Fairmont.
Are You Ready for Life as an Owner?
Most new companies do not succeed, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Speak with other entrepreneurs in Fairmont. Listen closely to their experiences and see if you think you too can be successful.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
What Business to Start
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 Evaluating Your Idea.
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 an Auto Racing Business guide or our Opening a Feed Concentrates & Supplements Business guide.
Always keep in mind that you are starting a business in Fairmont. Some businesses will do better in Fairmont than others. Study Fairmont demographics and do a competitive analysis as part of your startup planning process.
Fairmont, West Virginia Demographic Information
Fairmont has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Fairmont demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Fairmont.
| Business Size | # of
Businesses |
| 1-4 Employees |
9306 |
| 5-9 Employees |
3870 |
| 10-19 Employees |
3258 |
| 20-49 Employees |
2070 |
| 50-99 Employees |
540 |
| 100-249 Employees |
306 |
| 250-499 Employees |
36 |
| 500-999 Employees |
18 |
| 1000+ Employees |
0 |
| All Fairmont Businesses |
19404 |
As a new Fairmont entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Fairmont 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 |
| Ambulance Services |
1 |
| Amusement Arcades |
2 |
| Animal (except Poultry) Slaughtering |
1 |
| Appliance Repair and Maintenance |
1 |
| Architectural Services |
2 |
| Automotive Exhaust System Repair |
2 |
| Automotive Glass Replacement Shops |
1 |
| Automotive Parts and Accessories Stores |
8 |
| Baked Goods Stores |
1 |
| Barber Shops |
1 |
| Beauty Salons |
11 |
| Beer and Ale Merchant Wholesalers |
1 |
| Boat Dealers |
1 |
| Book Stores |
2 |
| Bowling Centers |
1 |
| Business Associations |
3 |
| Cafeterias |
1 |
| Car Washes |
1 |
| Cemeteries and Crematories |
2 |
| Child and Youth Services |
6 |
| Child Day Care Services |
4 |
| Civic and Social Organizations |
11 |
| Claims Adjusting |
1 |
| Coin-Operated Laundries and Drycleaners |
2 |
| Collection Agencies |
2 |
| Commercial Bakeries |
1 |
| Commercial Lithographic Printing |
2 |
| Commercial Screen Printing |
1 |
| Community Food Services |
2 |
| Computer Facilities Management Services |
1 |
| Computer Systems Design Services |
1 |
| Confectionery Merchant Wholesalers |
1 |
| Consumer Lending |
3 |
| Continuing Care Retirement Communities |
1 |
| Convenience Stores |
1 |
| Convention and Visitors Bureaus |
1 |
| Cosmetology and Barber Schools |
1 |
| Couriers |
3 |
| Credit Unions |
6 |
| Custom Computer Programming Services |
10 |
| Diet and Weight Reducing Centers |
1 |
| Direct Life Insurance Carriers |
1 |
| Discount Department Stores |
1 |
| Drinking Places (Alcoholic Beverages) |
11 |
| Drywall and Insulation Contractors |
2 |
| Electric Power Distribution |
2 |
| Electrical Contractors |
14 |
| Elementary and Secondary Schools |
2 |
| Emergency and Other Relief Services |
1 |
| Engineering Services |
9 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
1 |
| Facilities Support Services |
1 |
| Family Clothing Stores |
1 |
| Fine Arts Schools |
1 |
| Finish Carpentry Contractors |
2 |
| Fitness and Recreational Sports Centers |
5 |
| Floor Covering Stores |
2 |
| Florists |
3 |
| Food (Health) Supplement Stores |
1 |
| Food Service Contractors |
3 |
| Framing Contractors |
1 |
| Freight Transportation Arrangement |
1 |
| Fruit and Vegetable Markets |
1 |
| Full-Service Restaurants |
28 |
| Funeral Homes and Funeral Services |
7 |
| Furniture Stores |
3 |
| General Automotive Repair |
16 |
| General Medical and Surgical Hospitals |
1 |
| General Rental Centers |
1 |
| General Warehousing and Storage |
2 |
| Gift, Novelty, and Souvenir Stores |
3 |
| Glass and Glazing Contractors |
3 |
| Golf Courses and Country Clubs |
2 |
| Grantmaking Foundations |
3 |
| Home Centers |
2 |
| Home Health Care Services |
2 |
| Home Health Equipment Rental |
1 |
| Homes for the Elderly |
3 |
| Household Appliance Stores |
4 |
| Industrial Launderers |
1 |
| Insurance Agencies and Brokerages |
22 |
| Investigation Services |
1 |
| Investment Advice |
1 |
| Janitorial Services |
8 |
| Jewelry Stores |
2 |
| Landscape Architectural Services |
3 |
| Landscaping Services |
11 |
| Lessors of Other Real Estate Property |
2 |
| Limited-Service Restaurants |
41 |
| Local Messengers and Local Delivery |
1 |
| Machine Shops |
11 |
| Manufactured (Mobile) Home Dealers |
3 |
| Marketing Consulting Services |
1 |
| Masonry Contractors |
4 |
| Materials Recovery Facilities |
1 |
| Medical Laboratories |
4 |
| Motor Vehicle Body Manufacturing |
1 |
| Museums |
1 |
| Natural Gas Distribution |
1 |
| New Car Dealers |
7 |
| New Housing Operative Builders |
4 |
| News Dealers and Newsstands |
1 |
| Newspaper Publishers |
2 |
| Nonresidential Property Managers |
1 |
| Nursing Care Facilities |
6 |
| Office Administrative Services |
1 |
| Office Equipment Merchant Wholesalers |
2 |
| Office Supplies and Stationery Stores |
2 |
| Offices of Certified Public Accountants |
9 |
| Offices of Chiropractors |
9 |
| Offices of Dentists |
15 |
| Offices of Lawyers |
28 |
| Offices of Optometrists |
4 |
| Offices of Other Holding Companies |
1 |
| Offices of Podiatrists |
2 |
| Offices of Real Estate Appraisers |
3 |
| Outdoor Power Equipment Stores |
2 |
| Packaging and Labeling Services |
1 |
| Paging |
1 |
| Paint and Wallpaper Stores |
2 |
| Painting and Wall Covering Contractors |
2 |
| Parking Lots and Garages |
1 |
| Pet and Pet Supplies Stores |
2 |
| Pet Care (except Veterinary) Services |
2 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
7 |
| Photography Studios, Portrait |
1 |
| Political Organizations |
1 |
| Portfolio Management |
1 |
| Pulp Mills |
1 |
| Quick Printing |
1 |
| Radio Stations |
2 |
| Ready-Mix Concrete Manufacturing |
1 |
| Real Estate Credit |
1 |
| Recreational Vehicle Dealers |
1 |
| Residential Property Managers |
1 |
| Residential Remodelers |
18 |
| Retail Bakeries |
2 |
| Roofing Contractors |
1 |
| Securities Brokerage |
3 |
| Sheet Metal Work Manufacturing |
1 |
| Shoe Stores |
1 |
| Siding Contractors |
1 |
| Sign Manufacturing |
3 |
| Site Preparation Contractors |
9 |
| Snack and Nonalcoholic Beverage Bars |
2 |
| Solid Waste Collection |
3 |
| Special Needs Transportation |
1 |
| Sports and Recreation Instruction |
2 |
| Support Activities for Coal Mining |
2 |
| Tax Preparation Services |
3 |
| Telemarketing Bureaus |
1 |
| Telephone Answering Services |
1 |
| Temporary Help Services |
4 |
| Temporary Shelters |
2 |
| Testing Laboratories |
1 |
| Tile and Terrazzo Contractors |
1 |
| Tire Dealers |
4 |
| Title Abstract and Settlement Offices |
1 |
| Used Car Dealers |
5 |
| Used Merchandise Stores |
4 |
| Veterinary Services |
3 |
| Video Tape and Disc Rental |
7 |
| Vocational Rehabilitation Services |
2 |
| Water Supply and Irrigation Systems |
2 |
| Wholesale Trade Agents and Brokers |
4 |
| Wired Telecommunications Carriers |
5 |
| Women's Clothing Stores |
4 |
| Wood Office Furniture Manufacturing |
1 |
Is Franchising a Better Option?
Visit the business district of Fairmont and it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. Should you be giving franchising serious consideration?
We highly recommend you look into purchasing a franchise. We have many articles on franchises, such as Credit and Franchise Purchasing. Get a thorough education on franchising by browsing all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Representative franchise opportunities include Bandana's Bar-B-Q and Fit After 50. Alternatively, you can browse franchise categories, such as Child Care Franchises and Cleaning and Maintenance Franchises.
Note on Fairmont Franchise Opportunities: To find out if a franchise you are interested in is available in Fairmont, you will need to get in direct contact with the franchisor.
Forming a Company in Fairmont, West Virginia
It's very important that you form your business as a legal structure. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
When forming a company, you will select one of many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in West Virginia, it doesn't mean you are required to incorporate in West Virginia. As it turns out, you can incorporate in the state of your choosing. 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. To learn the basics of company formation, browse articles on our site, such as Nevada Incorporation. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Fairmont, West Virginia, our web page covering Incorporating in West Virginia may be a useful resource if you decide to incorporate in West Virginia.
The Art of Selling
Mastering the art of selling is a must if you want your new Fairmont business to do well.
The key to selling is to set sales goals goals and monitor your progress towards those goals. The good news is we can help you to make selling a big competitve advantage for your new firm.
Anticipating Prospect Responses offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Never Give Up
Most new Fairmont businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Fairmont and elsewhere to achieve real success. 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 Fairmont, West Virginia
Here are more links that we believe will help you be successful in starting a business in Fairmont.
- Resources for Fairmont, West Virginia Entrepreneurs - Browse a variety of resources we've collected to assist Fairmont entrepreneurs.
- West Virginia Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in West Virginia.
- Wisconsin Small Business Development Center - Wisconsin Small Business Development Centers offer a variety of educational services to small-businesses. The low-cost courses, seminars, and workshops cover both basic and complex topics, from marketing to management techniques to business plan development.
- Fairmont, West Virginia Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Fairmont, West Virginia newspapers, including ad costs for newspapers serving the Fairmont area.
- Fairmont, West Virginia Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Fairmont, West Virginia area radio stations.
- Fairmont, West Virginia Payroll Services - This list includes Fairmont, West Virginia payroll services, national payroll services for Fairmont, and helpful information on choosing a Fairmont payroll service.
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