Contemplating starting a business in Farmington, Missouri? We walk you through the process of opening a business in Farmington.
Will You Be a Successful Entrepreneur?
Running your own business is demanding, much more challenging than working as an employee. Are you sure you want to go into business for yourself?
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 Farmington. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- 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. Others sometimes know you better than you know yourself.
What Business to Start
An important decision is what kind of business you want to start. To stir your creative juices on what kind of business to start, take a look at Free Business Ideas.
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 a Lighting Maintenance Business guide or our Opening a Sweaters Wholesale & Manufacturers Business guide.
Don't forget that you are starting a business in Farmington. Some businesses will do better in Farmington than others. Only by spending some time analyzing Farmington demographics can you decide if there will be strong demand for your business idea.
Farmington, Missouri 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 |
17490 |
| 5-9 Employees |
6525 |
| 10-19 Employees |
4230 |
| 20-49 Employees |
2925 |
| 50-99 Employees |
1260 |
| 100-249 Employees |
405 |
| 250-499 Employees |
270 |
| 500-999 Employees |
135 |
| 1000+ Employees |
0 |
| All Farmington Businesses |
33240 |
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 |
| Ambulance Services |
1 |
| Architectural Services |
1 |
| Automotive Exhaust System Repair |
1 |
| Automotive Parts and Accessories Stores |
8 |
| Automotive Transmission Repair |
3 |
| Baked Goods Stores |
1 |
| Beauty Salons |
5 |
|
Beer, Wine, and Liquor Stores |
1 |
| Book Stores |
1 |
| Bowling Centers |
1 |
| Business Associations |
1 |
| Cable and Other Program Distribution |
2 |
| Cafeterias |
2 |
| Car Washes |
1 |
| Carpet and Upholstery Cleaning Services |
1 |
|
Cemeteries and Crematories |
1 |
| Child and Youth Services |
1 |
| Child Day Care Services |
14 |
| Civic and Social Organizations |
3 |
| Clothing Accessories Stores |
2 |
| Coin-Operated Laundries and Drycleaners |
1 |
| Collection Agencies |
1 |
| Computer and Software Stores |
2 |
|
Consumer Lending |
7 |
| Continuing Care Retirement Communities |
2 |
| Cosmetology and Barber Schools |
1 |
| Couriers |
1 |
| Custom Computer Programming Services |
3 |
| Diagnostic Imaging Centers |
3 |
| Direct Life Insurance Carriers |
2 |
| Discount Department Stores |
1 |
|
Document Preparation Services |
1 |
| Drafting Services |
1 |
| Drinking Places (Alcoholic Beverages) |
3 |
| Drywall and Insulation Contractors |
2 |
| Educational Support Services |
1 |
| Electrical Contractors |
6 |
| Engineering Services |
1 |
| Exterminating and Pest Control Services |
2 |
|
Family Clothing Stores |
1 |
| Fine Arts Schools |
2 |
| Finish Carpentry Contractors |
3 |
| Fitness and Recreational Sports Centers |
3 |
| Flooring Contractors |
1 |
| Florists |
4 |
| Food (Health) Supplement Stores |
2 |
| Food Service Contractors |
4 |
|
Footwear and Leather Goods Repair |
1 |
| Footwear Merchant Wholesalers |
2 |
| Framing Contractors |
1 |
| Full-Service Restaurants |
26 |
| Funeral Homes and Funeral Services |
2 |
| Furniture Stores |
1 |
| General Automotive Repair |
8 |
| General Freight Trucking, Local |
1 |
|
General Medical and Surgical Hospitals |
2 |
| General Rental Centers |
1 |
| General Warehousing and Storage |
1 |
| Gift, Novelty, and Souvenir Stores |
3 |
| Golf Courses and Country Clubs |
4 |
| Grantmaking Foundations |
1 |
| Gypsum Product Manufacturing |
1 |
| Hardware Merchant Wholesalers |
1 |
|
Hardware Stores |
1 |
| Home Centers |
1 |
| Home Furnishing Merchant Wholesalers |
1 |
| Home Health Care Services |
6 |
| Home Health Equipment Rental |
2 |
| Homes for the Elderly |
3 |
| Industrial Launderers |
3 |
| Insurance Agencies and Brokerages |
15 |
|
Investment Advice |
1 |
| Janitorial Services |
4 |
| Jewelry Stores |
1 |
| Land Subdivision |
6 |
| Landscaping Services |
6 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
23 |
| Livestock Merchant Wholesalers |
1 |
|
Logging |
1 |
| Machine Shops |
2 |
| Manufactured (Mobile) Home Dealers |
1 |
| Masonry Contractors |
4 |
| Meat Processed from Carcasses |
1 |
| Mortgage and Nonmortgage Loan Brokers |
2 |
| Motor Vehicle Towing |
1 |
| Musical Instrument and Supplies Stores |
1 |
|
Natural Gas Distribution |
1 |
| New Car Dealers |
2 |
| New Housing Operative Builders |
4 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
3 |
| Nursing Care Facilities |
11 |
| Office Administrative Services |
2 |
| Office Supplies and Stationery Stores |
1 |
|
Offices of Certified Public Accountants |
8 |
| Offices of Chiropractors |
4 |
| Offices of Dentists |
12 |
| Offices of Lawyers |
21 |
| Offices of Optometrists |
3 |
| Offices of Other Holding Companies |
1 |
| Offices of Podiatrists |
1 |
| Offices of Real Estate Appraisers |
2 |
|
Outdoor Power Equipment Stores |
1 |
| Packaging and Labeling Services |
1 |
| Paint and Wallpaper Stores |
1 |
| Painting and Wall Covering Contractors |
2 |
| Payroll Services |
1 |
| Pet and Pet Supplies Stores |
1 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
6 |
|
Photography Studios, Portrait |
1 |
| Precision Turned Product Manufacturing |
1 |
| Private Mail Centers |
1 |
| Professional Organizations |
2 |
| Public Relations Agencies |
1 |
| Quick Printing |
2 |
| Racetracks |
1 |
| Radio Stations |
1 |
|
Ready-Mix Concrete Manufacturing |
1 |
| Real Estate Credit |
1 |
| Recreational Vehicle Dealers |
1 |
| Residential Property Managers |
2 |
| Residential Remodelers |
5 |
| Rolled Steel Shape Manufacturing |
1 |
| Roofing Contractors |
1 |
| Savings Institutions |
1 |
|
Securities Brokerage |
5 |
| Shoe Stores |
2 |
| Siding Contractors |
3 |
| Sign Manufacturing |
3 |
| Site Preparation Contractors |
5 |
| Snack and Nonalcoholic Beverage Bars |
3 |
| Solid Waste Collection |
1 |
| Special Needs Transportation |
1 |
|
Sporting Goods Stores |
3 |
| Tax Preparation Services |
3 |
| Taxi Service |
1 |
| Temporary Help Services |
4 |
| Timber Tract Operations |
1 |
| Tire Dealers |
3 |
| Title Abstract and Settlement Offices |
1 |
| Tobacco Stores |
1 |
|
Tradebinding and Related Work |
1 |
| Used Car Dealers |
2 |
| Used Household and Office Goods Moving |
1 |
| Used Merchandise Stores |
3 |
| Vending Machine Operators |
1 |
| Veterinary Services |
1 |
| Video Tape and Disc Rental |
3 |
| Vocational Rehabilitation Services |
2 |
|
Voluntary Health Organizations |
1 |
| Warehouse Clubs and Supercenters |
1 |
| Wholesale Trade Agents and Brokers |
3 |
| Wired Telecommunications Carriers |
4 |
| Women's Clothing Stores |
2 |
| Wood Container and Pallet Manufacturing |
1 |
Have You Considered Buying an Existing Farmington Business?
If you have some capital to play with, you may want to Buy a Business in Missouri. 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: Buying a Business.
Forming a Company in Farmington, Missouri
A critical step is ensuring that you form your business as a legal structure. Doing so will insulate 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.
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. If you are starting a business in Missouri, you don't necessarily have to incorporate in Missouri. In fact, you can incorporate in any state you would like to. 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 Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Farmington, Missouri, our information on Incorporating in Missouri may be a useful resource if you decide to incorporate in Missouri.
Marketing Your New Business
Whether your goal is to attract Farmington customers or you plan on selling elsewhere, you need a great marketing plan.
There are myriad resources on this site to help you with your marketing plan. Yellow Pages Advertising Advice is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.
What's Next?
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 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 Farmington, Missouri
Here are more links that we believe will help you be successful in starting a business in Farmington.
- Resources for Farmington, Missouri Entrepreneurs - Browse a variety of resources we've collected to assist Farmington entrepreneurs.
- Missouri Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Missouri.
- Missouri Small Business Development Center - Missouri Small Business Development Center business specialists are uniquely qualified to help small businesses get started, develop and thrive.
- Farmington, Missouri Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Farmington, Missouri newspapers, including ad costs for newspapers serving the Farmington area.
- Farmington, Missouri Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Farmington, Missouri area radio stations.
- Farmington, Missouri Payroll Services - This list includes Farmington, Missouri payroll services, national payroll services for Farmington, and helpful information on choosing a Farmington payroll service.
- Farmington, Missouri Businesses for Sale - This list includes resources for buying a business in Farmington, Missouri, such as business brokers in Farmington and other helpful information on how to buy a Farmington business.
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