Contemplating starting a business in Kokomo, Indiana? We walk you through the process of opening a business in Kokomo.
Are You Sure You Want to Do This?
Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Talk to other entrepreneurs in Kokomo. 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.
Choosing the Right Company to Start
There are many businesses that you can start. How do you know which type of business is right for you? You might get some good ideas about what kind of business to start by reading Free Business Ideas.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Paper Towels Business guide or our How to Start a Self Realization Fellowship Churches Business guide.
Always keep in mind that starting a business in Kokomo has some implications. Some businesses will do better in Kokomo than others. A critical consideration is whether Kokomo demographics mesh well with your startup concept.
Kokomo, Indiana Demographic Information
Kokomo has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Kokomo demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Kokomo.
| Business Size | # of
Businesses |
| 1-4 Employees |
2621 |
| 5-9 Employees |
1355 |
| 10-19 Employees |
798 |
| 20-49 Employees |
522 |
| 50-99 Employees |
168 |
| 100-249 Employees |
96 |
| 250-499 Employees |
18 |
| 500-999 Employees |
9 |
| 1000+ Employees |
15 |
| All Kokomo Businesses |
5602 |
As a new Kokomo entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Kokomo 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 |
3 |
| Aluminum Extruded Product Manufacturing |
1 |
| Ambulance Services |
1 |
| Appliance Repair and Maintenance |
3 |
| Apprenticeship Training |
1 |
| Architectural Services |
1 |
| Audio and Video Equipment Manufacturing |
1 |
| Automobile Driving Schools |
3 |
| Automotive Exhaust System Repair |
2 |
| Automotive Glass Replacement Shops |
2 |
| Automotive Parts and Accessories Stores |
14 |
| Automotive Transmission Repair |
2 |
| Baked Goods Stores |
3 |
| Beauty Salons |
20 |
| Bed-and-Breakfast Inns |
1 |
| Beer and Ale Merchant Wholesalers |
1 |
| Beer, Wine, and Liquor Stores |
12 |
| Blood and Organ Banks |
2 |
| Boat Dealers |
2 |
| Book Stores |
3 |
| Bowling Centers |
2 |
| Building Inspection Services |
1 |
| Business Associations |
3 |
| Cable and Other Program Distribution |
1 |
| Cafeterias |
1 |
| Car Washes |
8 |
| Carpet and Upholstery Cleaning Services |
3 |
| Caterers |
1 |
| Cemeteries and Crematories |
5 |
| Child and Youth Services |
2 |
| Child Day Care Services |
14 |
| Children's and Infants' Clothing Stores |
1 |
| Civic and Social Organizations |
13 |
| Claims Adjusting |
1 |
| Clothing Accessories Stores |
4 |
| Coin-Operated Laundries and Drycleaners |
4 |
| Collection Agencies |
2 |
| Commercial Bakeries |
1 |
| Commercial Lithographic Printing |
5 |
| Commercial Screen Printing |
4 |
| Community Food Services |
4 |
| Computer and Software Stores |
3 |
| Computer Systems Design Services |
3 |
| Construction Sand and Gravel Mining |
1 |
| Consumer Lending |
7 |
| Convenience Stores |
16 |
| Convention and Trade Show Organizers |
1 |
| Convention and Visitors Bureaus |
1 |
| Cosmetology and Barber Schools |
1 |
| Couriers |
5 |
| Credit Unions |
10 |
| Custom Computer Programming Services |
2 |
| Dental Laboratories |
4 |
| Diagnostic Imaging Centers |
3 |
| Diet and Weight Reducing Centers |
1 |
| Direct Life Insurance Carriers |
2 |
| Discount Department Stores |
3 |
| Display Advertising |
2 |
| Drinking Places (Alcoholic Beverages) |
25 |
| Drywall and Insulation Contractors |
5 |
| Educational Support Services |
1 |
| Electric Power Distribution |
3 |
| Electrical Contractors |
8 |
| Electronic Shopping |
2 |
| Elementary and Secondary Schools |
3 |
| Emergency and Other Relief Services |
1 |
| Engineering Services |
11 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
6 |
| Facilities Support Services |
1 |
| Family Clothing Stores |
7 |
| Family Planning Centers |
1 |
| Farm Supplies Merchant Wholesalers |
1 |
| Fine Arts Schools |
3 |
| Finish Carpentry Contractors |
6 |
| Fitness and Recreational Sports Centers |
13 |
| Flat Glass Manufacturing |
1 |
| Floor Covering Stores |
6 |
| Flooring Contractors |
2 |
| Florists |
7 |
| Food (Health) Supplement Stores |
2 |
| Food Service Contractors |
4 |
| Formal Wear and Costume Rental |
1 |
| Framing Contractors |
3 |
| Freight Transportation Arrangement |
1 |
| Fruit and Vegetable Markets |
1 |
| Full-Service Restaurants |
52 |
| Funeral Homes and Funeral Services |
6 |
| Furniture Stores |
8 |
| General Automotive Repair |
13 |
| General Freight Trucking, Local |
4 |
| General Medical and Surgical Hospitals |
2 |
| General Rental Centers |
4 |
| General Warehousing and Storage |
3 |
| Gift, Novelty, and Souvenir Stores |
15 |
| Glass and Glazing Contractors |
1 |
| Golf Courses and Country Clubs |
6 |
| Grantmaking Foundations |
1 |
| Graphic Design Services |
2 |
| Hardware Merchant Wholesalers |
1 |
| Hardware Stores |
2 |
| Hobby, Toy, and Game Stores |
2 |
| Home Centers |
2 |
| Home Health Care Services |
4 |
| Home Health Equipment Rental |
4 |
| Homes for the Elderly |
2 |
| Household Appliance Stores |
4 |
| Ice Manufacturing |
1 |
| Industrial Gas Manufacturing |
1 |
| Industrial Launderers |
1 |
| Industrial Mold Manufacturing |
4 |
| Insurance Agencies and Brokerages |
42 |
| Interior Design Services |
4 |
| Investment Advice |
5 |
| Janitorial Services |
17 |
| Jewelry Stores |
13 |
| Kidney Dialysis Centers |
1 |
| Landscaping Services |
17 |
| Lessors of Other Real Estate Property |
4 |
| Libraries and Archives |
1 |
| Limited-Service Restaurants |
73 |
| Linen Supply |
1 |
| Local Messengers and Local Delivery |
1 |
| Machine Shops |
2 |
| Manufactured (Mobile) Home Dealers |
3 |
| Marketing Consulting Services |
2 |
| Masonry Contractors |
6 |
| Mattress Manufacturing |
1 |
| Meat Markets |
3 |
| Medical Laboratories |
2 |
| Metal Tank (Heavy Gauge) Manufacturing |
1 |
| Miscellaneous Intermediation |
1 |
| Mortgage and Nonmortgage Loan Brokers |
7 |
| Motion Picture and Video Production |
2 |
| Motor Vehicle Towing |
2 |
| Motorcycle Dealers |
2 |
| Museums |
1 |
| Musical Instrument and Supplies Stores |
3 |
| Nail Salons |
1 |
| Natural Gas Distribution |
1 |
| New Car Dealers |
6 |
| New Housing Operative Builders |
1 |
| Newspaper Publishers |
2 |
| Nonresidential Property Managers |
1 |
| Nursing Care Facilities |
5 |
| Office Administrative Services |
3 |
| Office Equipment Merchant Wholesalers |
3 |
| Office Supplies and Stationery Stores |
5 |
| Offices of Certified Public Accountants |
11 |
| Offices of Chiropractors |
12 |
| Offices of Dentists |
46 |
| Offices of Lawyers |
46 |
| Offices of Optometrists |
9 |
| Offices of Other Holding Companies |
1 |
| Offices of Podiatrists |
3 |
| Offices of Real Estate Appraisers |
7 |
| Optical Goods Stores |
4 |
| Outdoor Power Equipment Stores |
2 |
| Packaging and Labeling Services |
1 |
| Paint and Wallpaper Stores |
2 |
| Painting and Wall Covering Contractors |
5 |
| Passenger Car Rental |
2 |
| Payroll Services |
2 |
| Pet and Pet Supplies Stores |
6 |
| Pet Care (except Veterinary) Services |
3 |
| Pharmacies and Drug Stores |
10 |
| Photography Studios, Portrait |
4 |
| Plate Work Manufacturing |
1 |
| Political Organizations |
3 |
| Portfolio Management |
2 |
| Professional Employer Organizations |
2 |
| Professional Organizations |
1 |
| Quick Printing |
2 |
| Radio Stations |
3 |
| Ready-Mix Concrete Manufacturing |
2 |
| Real Estate Credit |
7 |
| Real Estate Investment Trusts |
1 |
| Recreational Vehicle Dealers |
2 |
| Remediation Services |
1 |
| Residential Property Managers |
7 |
| Residential Remodelers |
22 |
| Retail Bakeries |
2 |
| Roofing Contractors |
6 |
| Savings Institutions |
4 |
| Securities Brokerage |
13 |
| Semiconductor Machinery Manufacturing |
1 |
| Septic Tank and Related Services |
3 |
| Sheet Metal Work Manufacturing |
1 |
| Shoe Stores |
8 |
| Siding Contractors |
3 |
| Sign Manufacturing |
3 |
| Site Preparation Contractors |
8 |
| Snack and Nonalcoholic Beverage Bars |
10 |
| Soap and Other Detergent Manufacturing |
1 |
| Soft Drink Manufacturing |
1 |
| Sporting Goods Stores |
9 |
| Sports Teams and Clubs |
1 |
| Spring (Light Gauge) Manufacturing |
2 |
| Tax Preparation Services |
9 |
| Taxi Service |
2 |
| Temporary Help Services |
7 |
| Testing Laboratories |
4 |
| Tire and Tube Merchant Wholesalers |
2 |
| Tire Dealers |
5 |
| Title Abstract and Settlement Offices |
2 |
| Travel Agencies |
2 |
| Used Car Dealers |
12 |
| Used Household and Office Goods Moving |
1 |
| Used Merchandise Stores |
11 |
| Vending Machine Operators |
2 |
| Veterinary Services |
5 |
| Video Tape and Disc Rental |
8 |
| Vocational Rehabilitation Services |
2 |
| Voluntary Health Organizations |
1 |
| Warehouse Clubs and Supercenters |
3 |
| Water Supply and Irrigation Systems |
1 |
| Wholesale Trade Agents and Brokers |
10 |
| Wired Telecommunications Carriers |
5 |
| Women's Clothing Stores |
13 |
Have You Considered Franchising?
Visit the business district of Kokomo and you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Most business experts recommend that you investigate buying a franchise. We have many articles on franchises, such as Multi-Unit Franchising. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Solatube and DVDPlay. Alternatively, you can browse franchise categories, such as Cleaning and Maintenance Franchises and Personal Services Franchises.
Note on Kokomo Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Kokomo.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.
For other considerations regarding naming a company, we recommend this article: Naming a Business.
On a final note, given that you are opening a business in Kokomo, it's very important that you make sure no Indiana company has already registered the company name you have selected.
Forming a Company in Kokomo, Indiana
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will insulate you from personal liability for business debts and obligations.
When forming a company, you will select one of many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
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 Indiana, you don't necessarily have to incorporate in Indiana. In fact, you are allowed to incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
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 lawyer. On a final note, since you will be starting a business in Kokomo, Indiana, our web page covering Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.
Raising Money for Your New Venture
Obtaining startup financing for your Kokomo business requires strong organization skills and perseverance. In fact, financing your new business may be the hardest challenge you ever face.
Recognizing this challenge, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.
For Kokomo entrepreneurs who need startup capital, check out our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.
Next Steps
You have a dream -- starting a business in Kokomo. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Kokomo 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 Kokomo, Indiana
Here are more links that we believe will help you be successful in starting a business in Kokomo.
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