Contemplating starting a business in Madison, Alabama? We walk you through the process of opening a business in Madison.
Will You Be a Good Entrepreneur?
Most new ventures don't make it, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
Before you move forward with starting a business, be sure to do these three things:
- Talk to other entrepreneurs in Madison. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- 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. Others sometimes know you better than you know yourself.
Madison, Alabama Demographic Information
Madison has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Madison demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Madison.
| Business Size | # of
Businesses |
| 1-4 Employees |
33768 |
| 5-9 Employees |
11718 |
| 10-19 Employees |
9198 |
| 20-49 Employees |
6237 |
| 50-99 Employees |
1890 |
| 100-249 Employees |
1638 |
| 250-499 Employees |
315 |
| 500-999 Employees |
63 |
| 1000+ Employees |
63 |
| All Madison Businesses |
64890 |
As a new Madison entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Madison 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 |
|
Air and Gas Compressor Manufacturing |
1 |
| Amusement Arcades |
1 |
| Apprenticeship Training |
1 |
| Architectural Services |
3 |
| Automotive Glass Replacement Shops |
3 |
| Automotive Parts and Accessories Stores |
8 |
| Beauty Salons |
20 |
| Beer, Wine, and Liquor Stores |
6 |
|
Boat Dealers |
1 |
| Book Stores |
1 |
| Building Inspection Services |
1 |
| Business Associations |
3 |
| Cafeterias |
2 |
| Car Washes |
4 |
| Carpet and Upholstery Cleaning Services |
2 |
| Caterers |
1 |
|
Charter Bus Industry |
2 |
| Child and Youth Services |
1 |
| Child Day Care Services |
14 |
| Children's and Infants' Clothing Stores |
2 |
| Civic and Social Organizations |
1 |
| Claims Adjusting |
3 |
| Collection Agencies |
1 |
| Commercial Flexographic Printing |
1 |
|
Commercial Photography |
1 |
| Computer Systems Design Services |
9 |
| Computer Training |
1 |
| Concrete Block and Brick Manufacturing |
2 |
| Confectionery and Nut Stores |
1 |
| Consumer Lending |
3 |
| Continuing Care Retirement Communities |
1 |
| Convenience Stores |
1 |
|
Couriers |
5 |
| Credit Unions |
2 |
| Custom Computer Programming Services |
24 |
| Dental Laboratories |
2 |
| Diagnostic Imaging Centers |
1 |
| Directory and Mailing List Publishers |
1 |
| Discount Department Stores |
1 |
| Drafting Services |
1 |
|
Drinking Places (Alcoholic Beverages) |
2 |
| Drywall and Insulation Contractors |
2 |
| Educational Support Services |
1 |
| Electrical Contractors |
6 |
| Electronic Shopping |
1 |
| Elementary and Secondary Schools |
2 |
| Employment Placement Agencies |
3 |
| Engineering Services |
25 |
|
Environmental Consulting Services |
3 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
2 |
| Facilities Support Services |
1 |
| Family Clothing Stores |
1 |
| Family Planning Centers |
1 |
| Farm Product Warehousing and Storage |
1 |
| Farm Supplies Merchant Wholesalers |
2 |
|
Fine Arts Schools |
4 |
| Finish Carpentry Contractors |
3 |
| Fitness and Recreational Sports Centers |
8 |
| Floor Covering Stores |
2 |
| Flooring Contractors |
2 |
| Florists |
2 |
| Food (Health) Supplement Stores |
3 |
| Framing Contractors |
4 |
|
Freight Transportation Arrangement |
1 |
| Full-Service Restaurants |
29 |
| Funeral Homes and Funeral Services |
1 |
| Furniture Merchant Wholesalers |
1 |
| Furniture Stores |
4 |
| General Automotive Repair |
11 |
| General Freight Trucking, Local |
2 |
| General Warehousing and Storage |
4 |
|
Gift, Novelty, and Souvenir Stores |
6 |
| Glass and Glazing Contractors |
1 |
| Graphic Design Services |
1 |
| Hardware Merchant Wholesalers |
1 |
| Hardware Stores |
1 |
| Hazardous Waste Treatment and Disposal |
1 |
| Home Centers |
2 |
| Home Furnishing Merchant Wholesalers |
1 |
|
Home Health Care Services |
1 |
| Homes for the Elderly |
1 |
| Household Appliance Stores |
2 |
| Industrial Launderers |
1 |
| Industrial Mold Manufacturing |
1 |
| Insurance Agencies and Brokerages |
12 |
| Investment Advice |
2 |
| Janitorial Services |
12 |
|
Jewelry Stores |
4 |
| Land Subdivision |
3 |
| Landscape Architectural Services |
1 |
| Landscaping Services |
11 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
51 |
| Locksmiths |
1 |
| Machine Shops |
4 |
|
Mail-Order Houses |
1 |
| Marketing Consulting Services |
3 |
| Masonry Contractors |
2 |
| Media Buying Agencies |
1 |
| Metal Stamping |
1 |
| Mortgage and Nonmortgage Loan Brokers |
1 |
| Motor Vehicle Body Manufacturing |
1 |
| Motorcycle Dealers |
1 |
|
New Car Dealers |
3 |
| New Housing Operative Builders |
2 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
1 |
| Nursing Care Facilities |
2 |
| Office Administrative Services |
3 |
| Office Equipment Merchant Wholesalers |
1 |
| Office Supplies and Stationery Stores |
4 |
|
Offices of Certified Public Accountants |
7 |
| Offices of Chiropractors |
9 |
| Offices of Dentists |
18 |
| Offices of Lawyers |
3 |
| Offices of Optometrists |
6 |
| Offices of Podiatrists |
1 |
| Offices of Real Estate Appraisers |
3 |
| Outdoor Power Equipment Stores |
1 |
|
Paint and Coating Manufacturing |
1 |
| Paint and Wallpaper Stores |
3 |
| Painting and Wall Covering Contractors |
4 |
| Passenger Car Rental |
1 |
| Payroll Services |
1 |
| Periodical Publishers |
1 |
| Pet Care (except Veterinary) Services |
4 |
| Pharmacies and Drug Stores |
6 |
|
Photography Studios, Portrait |
6 |
| Portfolio Management |
1 |
| Private Mail Centers |
1 |
| Professional Employer Organizations |
1 |
| Quick Printing |
1 |
| Radio Stations |
2 |
| Ready-Mix Concrete Manufacturing |
1 |
| Real Estate Credit |
6 |
|
Recreational Vehicle Dealers |
2 |
| Residential Property Managers |
2 |
| Residential Remodelers |
7 |
| Roofing Contractors |
2 |
| Savings Institutions |
1 |
| Sawmills |
1 |
| Securities Brokerage |
4 |
| Security Guards and Patrol Services |
1 |
|
Shoe Stores |
1 |
| Sign Manufacturing |
2 |
| Site Preparation Contractors |
6 |
| Snack and Nonalcoholic Beverage Bars |
3 |
| Software Publishers |
1 |
| Sporting Goods Stores |
4 |
| Sports and Recreation Instruction |
2 |
| Tax Preparation Services |
3 |
|
Telephone Apparatus Manufacturing |
1 |
| Temporary Help Services |
3 |
| Testing Laboratories |
1 |
| Theater Companies and Dinner Theaters |
1 |
| Tire and Tube Merchant Wholesalers |
1 |
| Tire Dealers |
3 |
| Title Abstract and Settlement Offices |
1 |
| Tour Operators |
1 |
|
Travel Agencies |
1 |
| Truss Manufacturing |
1 |
| Used Car Dealers |
5 |
| Used Merchandise Stores |
4 |
| Vending Machine Operators |
1 |
| Veterinary Services |
9 |
| Video Tape and Disc Rental |
6 |
| Warehouse Clubs and Supercenters |
1 |
|
Water Supply and Irrigation Systems |
1 |
| Wholesale Trade Agents and Brokers |
7 |
| Window Treatment Stores |
1 |
| Wired Telecommunications Carriers |
1 |
| Women's Clothing Stores |
2 |
| Wood Office Furniture Manufacturing |
1 |
What About Franchising Opportunities?
As you drive around Madison, you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?
Our recommendation is that you consider franchising as an option. This site has dozens of articles on franchising, such as Growth Trends in Franchising. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Sample franchise opportunities include Sir Speedy, Inc. and Spray Tan of America. Alternatively, you can browse franchise categories, such as Blind Repair and Sales Franchises and Flooring Franchises.
Note on Madison Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Madison.
What About Buying an Existing Madison Business?
An excellent way to get started in business is to Buy a Business in Alabama. Follow that link and you may find several good businesses for sale in Madison.
For anybody who wants to buy a business, we recommend reading this useful article: How to Buy a Business.
Forming a Company in Madison, Alabama
A critical step is ensuring that you choose the right legal structure for your new entity. Doing so will separate you from personal liability for business debts and obligations.
When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
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. If you are starting a business in Alabama, you don't necessarily have to incorporate in Alabama. As it turns out, 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 Where to Incorporate. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Madison, Alabama, our web page covering Incorporating in Alabama may be a useful resource if you decide to incorporate in Alabama.
The Art of Selling
Mastering the art of selling is priority one if you want your new Madison business to do well.
Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Sales Training 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.
What's Next?
Most new Madison businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
Our goal here is to promote the vitality and growth of small businesses in Madison and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Madison, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Madison, Alabama
Here are more links that we believe will help you be successful in starting a business in Madison.
- Resources for Madison, Alabama Entrepreneurs - Browse a variety of resources we've collected to assist Madison entrepreneurs.
- Alabama Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Alabama.
- Alabama Small Business Development Center - Alabama's Small Business Development Center (SBDC) counsels and trains business people in a wide variety of business topics and provides comprehensive information services and access to experts in many fields. Counseling is provided free of charge to all Alabama small business owners.
- Madison, Alabama Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Madison, Alabama newspapers, including ad costs for newspapers serving the Madison area.
- Madison, Alabama Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Madison, Alabama area radio stations.
- Madison, Alabama Payroll Services - This list includes Madison, Alabama payroll services, national payroll services for Madison, and helpful information on choosing a Madison payroll service.
- Madison, Alabama Businesses for Sale - This list includes resources for buying a business in Madison, Alabama, such as business brokers in Madison and other helpful information on how to buy a Madison business.
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