Opening a Business in Magna, Utah

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

Are You Ready for Life as an Owner?

Most new businesses fail, in part because the entrepreneur 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.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

• Talk to other entrepreneurs in Magna. Listen closely to their experiences and see if you think you too can be successful.
• 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. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.

Magna, Utah Demographic Information

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

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

Business Size	# of Businesses
1-4 Employees	306
5-9 Employees	114
10-19 Employees	81
20-49 Employees	48
50-99 Employees	24
100-249 Employees	15
250-499 Employees	3
500-999 Employees	6
1000+ Employees	0
All Magna Businesses	597

As a new Magna entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Magna 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
Automotive Parts and Accessories Stores	1
Automotive Transmission Repair	1
Beauty Salons	3
Beer, Wine, and Liquor Stores	1
Car Washes	1
Carpet and Upholstery Cleaning Services	1
Child Day Care Services	2
Civic and Social Organizations	1
Coin-Operated Laundries and Drycleaners	1
Community Food Services	1
Consumer Lending	1
Convenience Stores	2
Credit Unions	1
Drinking Places (Alcoholic Beverages)	4
Dry Pasta Manufacturing	1
Drywall and Insulation Contractors	2
Electric Power Distribution	1
Electrical Contractors	5
Engineering Services	1
Finish Carpentry Contractors	2
Flooring Contractors	1
Food (Health) Supplement Stores	1
Food Service Contractors	1
Framing Contractors	4
Full-Service Restaurants	3
Funeral Homes and Funeral Services	2
General Automotive Repair	1
General Freight Trucking, Local	6
Gift, Novelty, and Souvenir Stores	1
Golf Courses and Country Clubs	1
Hazardous Waste Treatment and Disposal	1
Industrial Gas Manufacturing	2
Iron and Steel Mills	1
Janitorial Services	3
Landscaping Services	1
Limited-Service Restaurants	11
Locksmiths	1
Mail-Order Houses	1
Masonry Contractors	6
New Housing Operative Builders	2
Newspaper Publishers	1
Office Administrative Services	1
Offices of Chiropractors	1
Offices of Dentists	4
Painting and Wall Covering Contractors	3
Periodical Publishers	1
Pharmacies and Drug Stores	1
Political Organizations	1
Primary Smelting and Refining of Copper	2
Residential Property Managers	1
Residential Remodelers	3
Roofing Contractors	1
Security Guards and Patrol Services	1
Siding Contractors	1
Site Preparation Contractors	2
Snack and Nonalcoholic Beverage Bars	1
Sporting Goods Stores	1
Telemarketing Bureaus	1
Tile and Terrazzo Contractors	3
Tire Dealers	1
Vending Machine Operators	1
Video Tape and Disc Rental	1

Selecting a Name For Your Venture

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 Company.

As a final piece of advice, remember that because you are planning on starting a business in Magna, it's imperative that you check now that your company name has not already been claimed by another Utah business.

Where to Get Money to Start a Company

Raising money to fund your new Magna business is very difficult due to the ongoing business credit crunch. 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 Getting a Small Business Loan.

For Magna entrepreneurs who need startup capital, check out our List of Utah Angel Investors and our List of Utah Venture Capital Firms.

Marketing Your New Startup

To rise above the crowd in Magna and accelerate your business, having an excellent marketing plan is fundamental to your doing well.

You can learn all about marketing on our site. Comparing Advertising to PR discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Improving Your Entrepreneurial Skillset

Good business owners know that they don't know everything.

As an entrepreneur who lives in Magna, Utah, you should get information on some of the learning programs at local Utah educational institutions. You should also check if there are any networking groups or organizations in which Magna entrepreneurs get together to network and trade their business experiences.

Never Give Up

Most new Magna businesses underestimate the number of challenges they will face.

If you choose the right business and love what you do, you will greatly increase your odds of success.

This site is all about helping entrepreneurs in Magna and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Magna, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Magna, Utah

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

• Resources for Magna, Utah Entrepreneurs - Browse a variety of resources we've collected to assist Magna entrepreneurs.
• Utah Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Utah.
• Utah Small Business Development Center - The Utah Small Business Development Centers will lead the way in entrepreneurial education, advocacy, and business development statewide.
• Magna, Utah Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Magna, Utah newspapers, including ad costs for newspapers serving the Magna area.
• Magna, Utah Payroll Services - This list includes Magna, Utah payroll services, national payroll services for Magna, and helpful information on choosing a Magna payroll service.
• Magna, Utah Businesses for Sale - This list includes resources for buying a business in Magna, Utah, such as business brokers in Magna and other helpful information on how to buy a Magna business.

Starting-a-Business Guides for Other Cities in Utah
Starting a Business in Logan
Starting a Business in Manti

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