October 18, 2019  
 
  Entrepreneurial Resources - Advice for Connecticut Entrepreneurs  
  Guilford, Connecticut Resources for Entrepreneurs  
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Starting a Business in Guilford, Connecticut

Thinking about starting a business in Guilford, Connecticut? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Guilford.

Will You Be a Successful Entrepreneur?

Running your own business is hard work, much harder than working as an employee. Are you sure you are ready to take on this challenge?

Here are three things we recommend you do before you fully commit to starting a new business of your own.

  • Grab a meal or cofee with other entrepreneurs in Guilford. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
  • Take a look at The Entrepreneurial Personality. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
  • Reach out to a trusted acquaintance. Others sometimes know you better than you know yourself.

What Business Are You Starting?

Choosing a business that is right for you is very important. You might get some good ideas about what kind of business to start by reading 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 Dance Club guide or our Starting a Tatoo Parlor guide.

Remember that you are starting a business in Guilford. Think about what needs are currently being underserved in Guilford. Only by spending some time analyzing Guilford demographics can you decide if there will be strong demand for your business idea.

Guilford, Connecticut Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 3552
5-9 Employees 1116
10-19 Employees 756
20-49 Employees 468
50-99 Employees 153
100-249 Employees 45
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Guilford Businesses 6090

As a new Guilford entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Guilford 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 2
Amusement Arcades 1
Architectural Services 3
Art Dealers 1
Automobile Driving Schools 1
Automotive Parts and Accessories Stores 2
Automotive Transmission Repair 1
Baked Goods Stores 1
Beauty Salons 13
Beer, Wine, and Liquor Stores 5
Boat Dealers 1
Book Publishers 2
Book Stores 2
Building Inspection Services 1
Business Associations 2
Cable and Other Program Distribution 1
Child Day Care Services 9
Children's and Infants' Clothing Stores 2
Clothing Accessories Stores 1
Commercial Bakeries 1
Commercial Flexographic Printing 1
Commercial Gravure Printing 2
Commercial Lithographic Printing 1
Computer and Software Stores 3
Computer Systems Design Services 4
Computer Training 1
Confectionery and Nut Stores 1
Convention and Trade Show Organizers 1
Copper Wire (except Mechanical) Drawing 1
Cosmetology and Barber Schools 2
Custom Computer Programming Services 3
Direct Life Insurance Carriers 1
Discount Department Stores 1
Document Preparation Services 2
Drafting Services 1
Drinking Places (Alcoholic Beverages) 1
Educational Support Services 1
Electrical Contractors 7
Electronic Connector Manufacturing 1
Employment Placement Agencies 4
Engineering Services 5
Environmental Consulting Services 3
Exam Preparation and Tutoring 1
Family Clothing Stores 1
Fine Arts Schools 4
Finish Carpentry Contractors 6
Fish and Seafood Markets 1
Fitness and Recreational Sports Centers 5
Floor Covering Stores 4
Florists 2
Food (Health) Supplement Stores 2
Food Service Contractors 1
Framing Contractors 1
Full-Service Restaurants 22
Funeral Homes and Funeral Services 1
Furniture Stores 3
General Automotive Repair 7
General Freight Trucking, Local 2
Gift, Novelty, and Souvenir Stores 3
Grantmaking Foundations 2
Graphic Design Services 2
Heating Oil Dealers 1
Historical Sites 1
Hobby, Toy, and Game Stores 1
Home Health Care Services 2
Homes for the Elderly 1
Household Appliance Stores 1
Insurance Agencies and Brokerages 14
Interior Design Services 1
Internet Publishing and Broadcasting 1
Internet Service Providers 1
Investigation Services 1
Investment Advice 5
Janitorial Services 1
Jewelry Stores 3
Landscaping Services 16
Lessors of Other Real Estate Property 1
Limited-Service Restaurants 10
Luggage and Leather Goods Stores 1
Machine Shops 1
Mail-Order Houses 4
Marinas 3
Marketing Consulting Services 3
Masonry Contractors 2
Mortgage and Nonmortgage Loan Brokers 3
Museums 2
Musical Instrument and Supplies Stores 1
Nail Salons 5
New Car Dealers 3
New Housing Operative Builders 1
Newspaper Publishers 1
Nonresidential Property Managers 1
Nursing Care Facilities 2
Office Administrative Services 1
Office Supplies and Stationery Stores 3
Offices of Certified Public Accountants 11
Offices of Chiropractors 2
Offices of Dentists 10
Offices of Lawyers 17
Offices of Optometrists 2
Offices of Other Holding Companies 1
Offices of Real Estate Appraisers 1
One-Hour Photofinishing 1
Optical Goods Stores 1
Paint and Coating Manufacturing 1
Painting and Wall Covering Contractors 4
Periodical Publishers 2
Pet and Pet Supplies Stores 2
Pet Care (except Veterinary) Services 1
Pharmacies and Drug Stores 3
Portfolio Management 2
Precision Turned Product Manufacturing 1
Prepress Services 1
Private Mail Centers 1
Professional Employer Organizations 1
Quick Printing 2
Racetracks 1
Residential Property Managers 1
Residential Remodelers 10
Retail Bakeries 2
Roofing Contractors 1
Savings Institutions 5
Sawmills 1
School and Employee Bus Transportation 1
Securities Brokerage 5
Shoe Stores 1
Site Preparation Contractors 4
Snack and Nonalcoholic Beverage Bars 4
Solid Waste Collection 1
Special Needs Transportation 1
Sporting Goods Stores 3
Sports and Recreation Instruction 2
Tax Preparation Services 2
Television Broadcasting 1
Temporary Help Services 1
Tire Dealers 1
Tour Operators 1
Translation and Interpretation Services 1
Travel Agencies 1
Used Car Dealers 1
Used Merchandise Stores 2
Veterinary Services 2
Video Tape and Disc Rental 2
Vocational Rehabilitation Services 1
Voluntary Health Organizations 1
Wholesale Trade Agents and Brokers 12
Wired Telecommunications Carriers 2
Women's Clothing Stores 7

What About Franchising Opportunities?

As you drive around Guilford, it's apparent that franchising has become a very popular way to start a business. Is it perhaps smarter to franchise a business instead of doing it from scratch.

Most business experts recommend that you consider franchising as an option. We have many articles on franchises, such as Franchising Mistakes. Become a franchising expert of sorts by reading more of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

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

Have You Considered Buying an Existing Guilford Business?

An excellent way to get started in business is to Buy a Business in Connecticut. Follow that link and you may find several good businesses for sale in Guilford.

Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.

Choosing a Business Name

Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.

Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.

There's one other important factor when naming a business. Since you are opening a business in Guilford, it's critical that you ensure that no other Connecticut company is using the business name you want to use.

Company Formation in Guilford, Connecticut

It's very important that you choose the right legal structure for your new entity. Doing so will shield 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. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. Just because you are starting a business in Connecticut, you don't necessarily have to incorporate in Connecticut. 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's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as C Corp Versus S Corp. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Guilford, Connecticut, our information on Incorporating in Connecticut may be a useful resource if you decide to incorporate in Connecticut.

Make Sure You Have a Business Plan

A business plan is vital in maximizing the prospects of your new company. In effect, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan is a recipe for disaster.

To learn more about business plans, read Reasons to Write a Business Plan. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Connecticut.

Raising Money for Your Venture

Getting your Guilford business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

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

For Guilford entrepreneurs on the hunt for startup funding, check out our List of Connecticut Angel Investors and our List of Connecticut Venture Capital Firms.

Promoting Your New Company

To grow your Guilford business, you'll need to have a good marketing plan.

We have some helpful resources on this site for entrepreneurs who are working on marketing plans. PR Versus Advertising 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.

The Art of Selling

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

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.

Cold Call Selling is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Increase Your Entrepreneurial Knowledge

The best business owners know that they need to continually improve.

With your business being located in Guilford, Connecticut, you will want to take advantage of the many programs available at nearby Connecticut universities, colleges and community colleges. It's also worthwhile to see if there are any Guilford networking organizations.

What's Next?

As an entrepreneur in Guilford, 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 Guilford 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 Guilford, Connecticut

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

 

 

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