Opening a Business in Laramie, Wyoming

Contemplating starting a business in Laramie, Wyoming? We walk you through the process of opening a business in Laramie.

Laramie, Wyoming Demographic Information

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

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

As a new Laramie entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Laramie 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.

Have You Considered Buying an Existing Laramie Business?

We've created a useful website page for those who want to Buy a Business in Wyoming. Follow that link and you can assess several good businesses for sale in Laramie.

If you are serious about buying a business, you may want to read this article: How to Buy a Business.

Picking 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.

Company names need to be easy to spell, easy to pronounce, and easy to remember.

For other considerations regarding naming a company, we recommend this article: Naming a Business.

As a final piece of advice, remember that because you are opening a business in Laramie, it's very important that you make sure no other Wyoming company is using the business name you want to use.

Forming a Company in Laramie, Wyoming

A critical step is ensuring that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.

The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.

Incorporation is a very common way to legally create a business entity. 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. If you are starting a business in Wyoming, you don't necessarily have to incorporate in Wyoming. In fact, you can 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 ESOP Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Laramie, Wyoming, our information on Incorporating in Wyoming may be a useful resource if you decide to incorporate in Wyoming.

Don't Forget to Create a Business Plan

Creating a business plan is critical to the health of your new business. Simply put, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan

To learn more about business plans, read Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in Wyoming.

Advancing Your Entrepreneurial Skills

The best entrepreneurs recognize that they need to continually improve.

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

Next Steps

You have a dream -- starting a business in Laramie. 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 Laramie businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Laramie, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Laramie, Wyoming

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

• Resources for Laramie, Wyoming Entrepreneurs - Browse a variety of resources we've collected to assist Laramie entrepreneurs.
• Wyoming Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Wyoming.
• Wyoming Small Business Development Center - The Wyoming Small Business Development Center provides free and confidential consulting services to individual businesses, offers various products online of specific use to various businesses, sponsors affordable educational programs targeted at the small business community, and maintains links with various business resources throughout Wyoming and the nation.
• Laramie, Wyoming Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Laramie, Wyoming newspapers, including ad costs for newspapers serving the Laramie area.
• Laramie, Wyoming Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Laramie, Wyoming area radio stations.