April 16, 2014  
 
  Entrepreneurial Resources - Advice for Maine Entrepreneurs  
  Farmington, Maine Resources for Entrepreneurs  
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Opening a Business in Farmington, Maine

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

Farmington, Maine Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 6255
5-9 Employees 3735
10-19 Employees 1755
20-49 Employees 1260
50-99 Employees 360
100-249 Employees 135
250-499 Employees 45
500-999 Employees 45
1000+ Employees 0
All Farmington Businesses 13590

As a new Farmington entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Farmington 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 Glass Replacement Shops 1
Automotive Parts and Accessories Stores 3
Beauty Salons 2
Book Publishers 2
Book Stores 2
Business Associations 1
Cemeteries and Crematories 1
Child and Youth Services 1
Child Day Care Services 6
Coin-Operated Laundries and Drycleaners 1
Commercial Lithographic Printing 2
Computer and Software Stores 1
Continuing Care Retirement Communities 2
Convenience Stores 5
Credit Unions 1
Diagnostic Imaging Centers 1
Drinking Places (Alcoholic Beverages) 1
Electric Power Distribution 1
Electrical Contractors 4
Electronic Auctions 1
Electronic Shopping 1
Exam Preparation and Tutoring 1
Family Clothing Stores 3
Fine Arts Schools 1
Finish Carpentry Contractors 2
Fitness and Recreational Sports Centers 2
Florists 1
Food (Health) Supplement Stores 1
Food Service Contractors 1
Full-Service Restaurants 12
Funeral Homes and Funeral Services 1
Furniture Merchant Wholesalers 1
Furniture Stores 1
General Medical and Surgical Hospitals 1
General Warehousing and Storage 1
Gift, Novelty, and Souvenir Stores 2
Glass and Glazing Contractors 1
Golf Courses and Country Clubs 1
Grantmaking Foundations 1
Hardware Stores 3
Heating Oil Dealers 3
Home Health Care Services 1
Household Appliance Stores 2
Insurance Agencies and Brokerages 6
Internet Service Providers 1
Janitorial Services 1
Jewelry Stores 2
Landscape Architectural Services 1
Landscaping Services 1
Libraries and Archives 1
Limited-Service Restaurants 6
Logging 2
Masonry Contractors 1
New Car Dealers 6
Newspaper Publishers 1
Nursing Care Facilities 3
Office Administrative Services 1
Offices of Chiropractors 3
Offices of Dentists 5
Offices of Lawyers 10
Offices of Optometrists 2
Offices of Podiatrists 1
Offices of Real Estate Appraisers 2
Passenger Car Rental 1
Pet Care (except Veterinary) Services 1
Pharmacies and Drug Stores 2
Photography Studios, Portrait 2
Radio Stations 1
Ready-Mix Concrete Manufacturing 1
Recreational Vehicle Dealers 1
Residential Remodelers 2
Roofing Contractors 1
Savings Institutions 4
Sawmills 1
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 4
Sporting Goods Stores 3
Tax Preparation Services 1
Telemarketing Bureaus 1
Temporary Shelters 2
Tire Dealers 2
Tobacco Stores 1
Travel Agencies 1
Used Car Dealers 2
Used Merchandise Stores 3
Veterinary Services 3
Video Tape and Disc Rental 2
Vocational Rehabilitation Services 1
Warehouse Clubs and Supercenters 1
Wired Telecommunications Carriers 2
Women's Clothing Stores 2

Is Franchising a Better Option?

Browse the Yellow Pages for Farmington and it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?

We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as Costs of Franchise Ownership. 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.

Sample franchise opportunities include Money Mailer, LLC and Hot Harry's Fresh Burritos. Alternatively, you can browse franchise categories, such as Fitness Franchises and Mail and Shipping Services Franchises.

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

What About Buying an Existing Farmington Business?

If you have some capital to play with, you may want to Buy a Business in Maine. Follow that link and you might discover several good businesses for sale in Farmington.

If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.

Don't Skip the Business Plan

Writing a business plan is essential to the health of your new business. Indeed, a business plan is a written description of the future you envision for your business. Failure to write a business plan will greatly reduce your chances of business success.

To learn more about business plans, read The Art of the Executive Summary. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Maine.

Startup Financing Basics

Raising money to fund your new Farmington business is not an easy task. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.

Recognizing this challenge, this site contains dozens of articles on raising money, including one we recommend entitled Business Credit Evaluation.

For Farmington entrepreneurs who need startup capital, you'll want to take a look at our List of Maine Angel Investors and our List of Maine Venture Capital Firms.

Ramping Up Sales

Do you know how to sell? In order to attract customers to your new Farmington business, you need to focus on sales.

Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Hiring Telemarketing Firms to Generate Sales Leads is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Learning More About Entrepreneurship

Good entrepreneurs recognize that they don't know everything.

As an entrepreneur who lives in Farmington, Maine, you should get information on some of the many programs available at nearby Maine universities, colleges and community colleges. You should also check if there are any Farmington networking organizations.

Now It's Up To You

As an entrepreneur in Farmington, you won't be working for the boss anymore. You are the boss.

From this point on, you control your own destiny.

We are here to help Farmington businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Farmington, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Farmington, Maine

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

  • Resources for Farmington, Maine Entrepreneurs - Browse a variety of resources we've collected to assist Farmington entrepreneurs.
  • Maine Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Maine.
  • Maine Small Business Development Center - Maine Small Business Development Centers and its technology-focused group, the Maine Small Business & Technology Development Centers, provide comprehensive business management assistance, training, resource and information services to Maine's entrepreneurs and small business owners.
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Additional Resources for Entrepreneurs

Buying a Business - Writing a Business Plan - Raising Money - Incorporate

Small Business Marketing - Advertising Advice - Public Relations -

Customer Service Tips - Entrepreneurial Selling - Workplace Safety