Contemplating starting a business in Lakewood, Washington? We walk you through the process of opening a business in Lakewood.
Are You Sure You Want to Do This?
Most new businesses fail, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Speak with other entrepreneurs in Lakewood. Ask them candidly what it's like to run a business.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Lakewood, Washington Demographic Information
Lakewood has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Lakewood demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lakewood.
| Business Size | # of
Businesses |
| 1-4 Employees |
23724 |
| 5-9 Employees |
9072 |
| 10-19 Employees |
5805 |
| 20-49 Employees |
3564 |
| 50-99 Employees |
972 |
| 100-249 Employees |
459 |
| 250-499 Employees |
54 |
| 500-999 Employees |
81 |
| 1000+ Employees |
27 |
| All Lakewood Businesses |
43758 |
As a new Lakewood entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lakewood 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 |
2 |
| Art Dealers |
1 |
| Automobile Driving Schools |
1 |
| Automotive Exhaust System Repair |
4 |
| Automotive Glass Replacement Shops |
4 |
| Automotive Parts and Accessories Stores |
21 |
| Automotive Transmission Repair |
2 |
| Baked Goods Stores |
3 |
| Barber Shops |
2 |
| Beauty Salons |
21 |
| Beer, Wine, and Liquor Stores |
2 |
| Book Stores |
2 |
| Business Associations |
5 |
| Business to Business Electronic Markets |
1 |
| Cafeterias |
1 |
| Canvas and Related Product Mills |
1 |
| Car Washes |
4 |
| Casinos (except Casino Hotels) |
1 |
| Caterers |
1 |
| Child Day Care Services |
17 |
| Civic and Social Organizations |
6 |
| Claims Adjusting |
1 |
| Clothing Accessories Stores |
1 |
| Coin-Operated Laundries and Drycleaners |
1 |
| Commercial Bakeries |
2 |
| Commercial Flexographic Printing |
1 |
| Commercial Lithographic Printing |
1 |
| Commercial Screen Printing |
3 |
| Community Food Services |
1 |
| Computer and Software Stores |
2 |
| Computer Facilities Management Services |
1 |
| Computer Systems Design Services |
4 |
| Confectionery and Nut Stores |
2 |
| Consumer Lending |
5 |
| Continuing Care Retirement Communities |
1 |
| Convenience Stores |
13 |
| Convention and Trade Show Organizers |
1 |
| Couriers |
1 |
| Credit Bureaus |
1 |
| Credit Unions |
5 |
| Custom Computer Programming Services |
7 |
| Dental Laboratories |
7 |
| Diagnostic Imaging Centers |
3 |
| Direct Mail Advertising |
1 |
| Direct Title Insurance Carriers |
1 |
| Directory and Mailing List Publishers |
1 |
| Discount Department Stores |
2 |
| Document Preparation Services |
3 |
| Drafting Services |
1 |
| Drinking Places (Alcoholic Beverages) |
14 |
| Drywall and Insulation Contractors |
3 |
| Educational Support Services |
1 |
| Electric Power Distribution |
1 |
| Electrical Contractors |
7 |
| Elementary and Secondary Schools |
1 |
| Employment Placement Agencies |
2 |
| Engineering Services |
6 |
| Environmental Consulting Services |
1 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
2 |
| Family Clothing Stores |
7 |
| Farm Labor Contractors and Crew Leaders |
1 |
| Fine Arts Schools |
3 |
| Finfish Fishing |
2 |
| Finish Carpentry Contractors |
2 |
| Fish and Seafood Markets |
1 |
| Fish and Seafood Merchant Wholesalers |
1 |
| Fitness and Recreational Sports Centers |
7 |
| Floor Covering Stores |
3 |
| Flooring Contractors |
6 |
| Florists |
4 |
| Food (Health) Supplement Stores |
4 |
| Food Service Contractors |
2 |
| Formal Wear and Costume Rental |
2 |
| Framing Contractors |
7 |
| Freight Transportation Arrangement |
3 |
| Full-Service Restaurants |
69 |
| Funeral Homes and Funeral Services |
1 |
| Furniture Merchant Wholesalers |
1 |
| Furniture Stores |
8 |
| General Automotive Repair |
21 |
| General Freight Trucking, Local |
3 |
| General Medical and Surgical Hospitals |
2 |
| General Rental Centers |
3 |
| General Warehousing and Storage |
1 |
| Gift, Novelty, and Souvenir Stores |
7 |
| Glass and Glazing Contractors |
6 |
| Golf Courses and Country Clubs |
3 |
| Grantmaking Foundations |
1 |
| Gypsum Product Manufacturing |
1 |
| Hardware Merchant Wholesalers |
3 |
| Hardware Stores |
2 |
| Hobby, Toy, and Game Stores |
4 |
| Home Centers |
2 |
| Home Furnishing Merchant Wholesalers |
2 |
| Home Health Care Services |
2 |
| Homes for the Elderly |
9 |
| Household Appliance Stores |
2 |
| Human Rights Organizations |
1 |
| Institutional Furniture Manufacturing |
1 |
| Insurance Agencies and Brokerages |
46 |
| Interior Design Services |
2 |
| Investigation Services |
1 |
| Investment Advice |
2 |
| Iron and Steel Mills |
1 |
| Janitorial Services |
14 |
| Jewelry Stores |
5 |
| Junior Colleges |
2 |
| Kidney Dialysis Centers |
1 |
| Land Subdivision |
4 |
| Landscaping Services |
11 |
| Language Schools |
2 |
| Lessors of Other Real Estate Property |
8 |
| Limited-Service Restaurants |
65 |
| Local Messengers and Local Delivery |
1 |
| Locksmiths |
2 |
| Luggage and Leather Goods Stores |
1 |
| Machine Shops |
1 |
| Manufactured (Mobile) Home Dealers |
1 |
| Marketing Consulting Services |
2 |
| Masonry Contractors |
3 |
| Meat Markets |
3 |
| Men's Clothing Stores |
1 |
| Metal Tank (Heavy Gauge) Manufacturing |
1 |
| Metal Window and Door Manufacturing |
1 |
| Mineral Wool Manufacturing |
1 |
| Miscellaneous Intermediation |
1 |
| Mortgage and Nonmortgage Loan Brokers |
2 |
| Motion Picture and Video Distribution |
1 |
| Motor Vehicle Towing |
4 |
| Motorcycle Dealers |
2 |
| Musical Groups and Artists |
3 |
| Musical Instrument and Supplies Stores |
2 |
| Nail Salons |
4 |
| New Car Dealers |
1 |
| New Housing Operative Builders |
5 |
| Newspaper Publishers |
2 |
| Nursing Care Facilities |
2 |
| Office Administrative Services |
3 |
| Office Supplies and Stationery Stores |
1 |
| Offices of Bank Holding Companies |
1 |
| Offices of Certified Public Accountants |
11 |
| Offices of Chiropractors |
16 |
| Offices of Dentists |
38 |
| Offices of Lawyers |
21 |
| Offices of Optometrists |
6 |
| Offices of Podiatrists |
3 |
| Offices of Real Estate Appraisers |
3 |
| One-Hour Photofinishing |
2 |
| Ophthalmic Goods Merchant Wholesalers |
1 |
| Optical Goods Stores |
1 |
| Outdoor Power Equipment Stores |
1 |
| Packing and Crating |
1 |
| Paint and Wallpaper Stores |
3 |
| Painting and Wall Covering Contractors |
11 |
| Passenger Car Rental |
1 |
| Payroll Services |
1 |
| Periodical Publishers |
2 |
| Pet and Pet Supplies Stores |
5 |
| Pet Care (except Veterinary) Services |
2 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
8 |
| Photography Studios, Portrait |
2 |
| Plastics Bottle Manufacturing |
1 |
| Prepress Services |
1 |
| Private Mail Centers |
4 |
| Professional Employer Organizations |
1 |
| Public Relations Agencies |
1 |
| Quick Printing |
1 |
| Radio Stations |
1 |
| Ready-Mix Concrete Manufacturing |
2 |
| Real Estate Credit |
8 |
| Real Estate Investment Trusts |
1 |
| Recreational Goods Rental |
1 |
| Recreational Vehicle Dealers |
2 |
| Remediation Services |
2 |
| Residential Property Managers |
19 |
| Residential Remodelers |
14 |
| Retail Bakeries |
3 |
| Reupholstery and Furniture Repair |
1 |
| Roofing Contractors |
6 |
| Rooming and Boarding Houses |
1 |
| Savings Institutions |
3 |
| School and Employee Bus Transportation |
1 |
| Securities Brokerage |
7 |
| Security Guards and Patrol Services |
2 |
| Shellfish Fishing |
2 |
| Shoe Stores |
4 |
| Siding Contractors |
9 |
| Sign Manufacturing |
1 |
| Site Preparation Contractors |
3 |
| Snack and Nonalcoholic Beverage Bars |
26 |
| Solid Waste Collection |
2 |
| Special Needs Transportation |
1 |
| Sporting Goods Stores |
7 |
| Tax Preparation Services |
8 |
| Taxi Service |
1 |
| Telemarketing Bureaus |
1 |
| Telephone Answering Services |
1 |
| Temporary Help Services |
1 |
| Temporary Shelters |
1 |
| Testing Laboratories |
1 |
| Textile Bag Mills |
1 |
| Theater Companies and Dinner Theaters |
1 |
| Tile and Terrazzo Contractors |
4 |
| Tire Dealers |
6 |
| Tobacco Stores |
1 |
| Translation and Interpretation Services |
1 |
| Travel Agencies |
3 |
| Used Car Dealers |
7 |
| Used Household and Office Goods Moving |
7 |
| Used Merchandise Stores |
11 |
| Veterinary Services |
7 |
| Video Tape and Disc Rental |
11 |
| Vocational Rehabilitation Services |
5 |
| Wired Telecommunications Carriers |
6 |
| Women's Clothing Stores |
6 |
| Wood Container and Pallet Manufacturing |
1 |
| Zoos and Botanical Gardens |
1 |
Have You Considered Buying an Existing Lakewood Business?
An excellent way to get started in business is to Buy a Business in Washington. Follow that link and you may find several good businesses for sale in Lakewood.
For anybody who wants to buy a business, we recommend reading this useful article: How to Buy a Business.
Choosing a Company Name
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.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
There's one other important factor when naming a business. Since you are opening a business in Lakewood, it's imperative that you check now that no other Washington company is using the business name you want to use.
Company Formation in Lakewood, Washington
It's essential that you are forming a legal entity that operates independently from you. Among other things, forming a legal entity for the business limits your liabilities.
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. Just because you are starting a business in Washington, you don't necessarily have to incorporate in Washington. In fact, you can incorporate wherever you want. 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 Piercing the Corporate Veil. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Lakewood, Washington, our information on Incorporating in Washington may be a useful resource if you decide to incorporate in Washington.
Advancing Your Entrepreneurial Skills
Successful entrepreneurs know that they don't know everything.
Given that you are starting a business in Lakewood, Washington, you will want to take advantage of the learning programs at local Washington educational institutions. It's also wise to see if there are any networking organizations for Lakewood entrepreneurs.
Next Steps
Most new Lakewood businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
We are here to help Lakewood businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Lakewood, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lakewood, Washington
Here are more links that we believe will help you be successful in starting a business in Lakewood.
Starting-a-Business Guides for Other Cities in Washington
Starting a Business in Lake Stevens
Starting a Business in Langley
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Business Startup Guides for Washington
