Are you starting a business in Hannibal, Missouri? This article discusses the most important things to consider when opening a business in Hannibal.
Are You Sure You Want to Do This?
Most startup businesses don't make it, in part because the founder did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, 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.
- Talk to other entrepreneurs in Hannibal. Ask them candidly what it's like to run a business.
- 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. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
What Business to Start
There are many businesses that you can start. How do you know which type of business is right for you? To help you decide on a business type, we encourage you to read Good 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 How to Start a Paving Equipment Manufacturers Business guide or our Opening a Saw Rental Business guide.
Remember that your new startup will be located in Hannibal. The business you want to start may already be well-represented in Hannibal. Make sure you fully understand Hannibal demographics before you lock in on your business idea.
Hannibal, Missouri Demographic Information
Hannibal has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Hannibal demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Hannibal.
| Business Size | # of
Businesses |
| 1-4 Employees |
2158 |
| 5-9 Employees |
744 |
| 10-19 Employees |
576 |
| 20-49 Employees |
390 |
| 50-99 Employees |
90 |
| 100-249 Employees |
66 |
| 250-499 Employees |
36 |
| 500-999 Employees |
12 |
| 1000+ Employees |
0 |
| All Hannibal Businesses |
4072 |
As a new Hannibal entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Hannibal 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 |
1 |
| Ambulance Services |
1 |
| Apprenticeship Training |
1 |
| Architectural Services |
1 |
| Art Dealers |
1 |
| Automotive Exhaust System Repair |
2 |
| Automotive Glass Replacement Shops |
1 |
| Automotive Parts and Accessories Stores |
4 |
| Baked Goods Stores |
1 |
| Beauty Salons |
13 |
| Bed-and-Breakfast Inns |
3 |
| Beer and Ale Merchant Wholesalers |
2 |
| Beer, Wine, and Liquor Stores |
2 |
| Boat Dealers |
2 |
| Book Stores |
1 |
| Business Associations |
2 |
| Cafeterias |
2 |
| Car Washes |
3 |
| Carpet and Upholstery Cleaning Services |
2 |
| Caterers |
1 |
| Cement Manufacturing |
1 |
| Cemeteries and Crematories |
2 |
| Child Day Care Services |
7 |
| Children's and Infants' Clothing Stores |
1 |
| Civic and Social Organizations |
6 |
| Clothing Accessories Stores |
1 |
| Coin-Operated Laundries and Drycleaners |
2 |
| Commercial Screen Printing |
1 |
| Community Food Services |
1 |
| Computer and Software Stores |
3 |
| Computer Systems Design Services |
1 |
| Consumer Lending |
2 |
| Credit Unions |
4 |
| Digital Printing |
1 |
| Display Advertising |
3 |
| Document Preparation Services |
1 |
| Drinking Places (Alcoholic Beverages) |
5 |
| Drywall and Insulation Contractors |
1 |
| Educational Support Services |
1 |
| Electrical Contractors |
3 |
| Elementary and Secondary Schools |
1 |
| Emergency and Other Relief Services |
1 |
| Employment Placement Agencies |
2 |
| Engineering Services |
1 |
| Exterminating and Pest Control Services |
1 |
| Family Clothing Stores |
1 |
| Fine Arts Schools |
3 |
| Finish Carpentry Contractors |
4 |
| Fitness and Recreational Sports Centers |
4 |
| Floor Covering Stores |
2 |
| Florists |
2 |
| Fluid Milk Manufacturing |
1 |
| Food Service Contractors |
2 |
| Full-Service Restaurants |
22 |
| Funeral Homes and Funeral Services |
2 |
| Furniture Stores |
1 |
| General Automotive Repair |
7 |
| General Freight Trucking, Local |
2 |
| General Medical and Surgical Hospitals |
1 |
| General Rental Centers |
2 |
| Gift, Novelty, and Souvenir Stores |
5 |
| Glass and Glazing Contractors |
2 |
| Golf Courses and Country Clubs |
3 |
| Graphic Design Services |
2 |
| Hardware Stores |
1 |
| Home Health Care Services |
4 |
| Home Health Equipment Rental |
2 |
| Homes for the Elderly |
6 |
| Household Appliance Stores |
2 |
| Human Rights Organizations |
1 |
| Industrial Launderers |
1 |
| Industrial Mold Manufacturing |
1 |
| Insurance Agencies and Brokerages |
17 |
| Janitorial Services |
5 |
| Jewelry (except Costume) Manufacturing |
1 |
| Jewelry Stores |
2 |
| Land Subdivision |
1 |
| Landscaping Services |
3 |
| Limited-Service Restaurants |
13 |
| Locksmiths |
1 |
| Machine Shops |
1 |
| Mortgage and Nonmortgage Loan Brokers |
1 |
| Museums |
4 |
| Nail Salons |
2 |
| Natural Gas Distribution |
1 |
| New Car Dealers |
4 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
1 |
| Nursing Care Facilities |
5 |
| Office Supplies and Stationery Stores |
1 |
| Offices of Certified Public Accountants |
4 |
| Offices of Chiropractors |
4 |
| Offices of Dentists |
8 |
| Offices of Lawyers |
15 |
| Offices of Optometrists |
2 |
| Offices of Podiatrists |
1 |
| One-Hour Photofinishing |
1 |
| Ophthalmic Goods Manufacturing |
1 |
| Optical Goods Stores |
2 |
| Paint and Coating Manufacturing |
1 |
| Paint and Wallpaper Stores |
2 |
| Painting and Wall Covering Contractors |
3 |
| Pet Care (except Veterinary) Services |
1 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
4 |
| Photography Studios, Portrait |
2 |
| Portfolio Management |
1 |
| Quick Printing |
3 |
| Radio Stations |
1 |
| Real Estate Credit |
2 |
| Recreational Vehicle Dealers |
1 |
| Residential Property Managers |
2 |
| Residential Remodelers |
4 |
| Roofing Contractors |
1 |
| Rooming and Boarding Houses |
1 |
| Savings Institutions |
2 |
| Sawmills |
2 |
| Securities Brokerage |
4 |
| Security Guards and Patrol Services |
1 |
| Shoe Stores |
1 |
| Sign Manufacturing |
3 |
| Site Preparation Contractors |
3 |
| Snack and Nonalcoholic Beverage Bars |
1 |
| Solid Waste Collection |
3 |
| Specialty Canning |
1 |
| Sporting Goods Stores |
2 |
| Sports and Recreation Instruction |
1 |
| Tax Preparation Services |
1 |
| Taxi Service |
1 |
| Television Broadcasting |
2 |
| Temporary Help Services |
1 |
| Temporary Shelters |
1 |
| Theater Companies and Dinner Theaters |
1 |
| Tire Dealers |
1 |
| Title Abstract and Settlement Offices |
1 |
| Tour Operators |
2 |
| Used Car Dealers |
4 |
| Used Merchandise Stores |
3 |
| Veterinary Services |
2 |
| Video Tape and Disc Rental |
2 |
| Vocational Rehabilitation Services |
1 |
| Warehouse Clubs and Supercenters |
1 |
| Water Supply and Irrigation Systems |
1 |
| Window Treatment Stores |
1 |
| Wired Telecommunications Carriers |
2 |
| Women's Clothing Stores |
3 |
Choosing a Company Name
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
As a final piece of advice, remember that because you are planning on starting a business in Hannibal, it's imperative that you check now that no other Missouri company is using the business name you want to use.
Raising Funding for Your Venture
Getting your Hannibal business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Realistic Debt Financing Options.
For Hannibal entrepreneurs with great ambition but a shortage of investment capital, we have assembled a List of Missouri Angel Investors and our List of Missouri Venture Capital Firms.
Promoting Your New Company
Whether your goal is to attract Hannibal customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your doing well.
There are myriad resources on this site to help you with your marketing plan. National TV Spot Advertising Rates discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Next Steps
Most new Hannibal businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Hannibal 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 Hannibal, Missouri
Here are more links that we believe will help you be successful in starting a business in Hannibal.
Starting-a-Business Guides for Other Cities in Missouri
Starting a Business in Hamilton
Starting a Business in Harrisonville
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Business Startup Guides for Missouri
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