New York Business Startup Guides
Opening a Business in Malone, New York
Contemplating starting a business in Malone, New York? We walk you through the process of opening a business in Malone.
Malone, New York Demographic Information
Malone has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Malone demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Malone.
Businesses
As a new Malone entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Malone 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.
Businesses
Is Franchising a Better Option?
Visit the business district of Malone and you'll see that franchises make up a large percentage of local businesses. But is franchising the right option for you?
Most business experts recommend that you look into purchasing a franchise. This site has dozens of articles on franchising, such as Why Franchises Fail. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Raine & Horne and Concrete Raising of America. Alternatively, you can browse franchise categories, such as Accounting Franchises and Textile Repair Franchises.
Note on Malone Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Malone.
Have You Considered Buying an Existing Malone Business?
If you have some capital to play with, you may want to Buy a Business in New York. Follow that link and you can assess several good businesses for sale in Malone.
If you are headed down the path of buying a business, you may want to read this article: How to Buy a Business.
Naming the Company
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.
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.
Numerous company naming issues are discussed in more detail in this article: Naming a Company.
There's one other important factor when naming a business. Since you are opening a business in Malone, it's critical that you ensure that your company name has not already been claimed by another New York business.
Forming a Company in Malone, New York
It's very important that you are forming a legal entity that operates independently from you. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will select one of many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 New York, you don't necessarily have to incorporate in New York. 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 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 Pre-Incorporation Agreements. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Malone, New York, our web page covering Incorporating in New York may be a useful resource if you decide to incorporate in New York.
Startup Financing Basics
Raising money to fund your new Malone business is a difficult chore. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Bank Credit Lines.
For Malone entrepreneurs with great ambition but a shortage of investment capital, browse our List of New York Angel Investors and our List of New York Venture Capital Firms.
Promoting Your New Company
Whether your goal is to attract Malone customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
You can learn quite a bit about marketing on our site. Business Logo Design is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.
Now It's Up To You
As an entrepreneur in Malone, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Malone businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Malone, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Malone, New York
Here are more links that we believe will help you be successful in starting a business in Malone.
- Resources for Malone, New York Entrepreneurs - Browse a variety of resources we've collected to assist Malone entrepreneurs.
- New York Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New York.
- New York Small Business Development Center - The New York State Small Business Development Center delivers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business.
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