Thinking about starting a business in Medford, Massachusetts? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Medford.
Are You Sure You Want to Do This?
Before quitting your day job, consider your entrepreneurial instincts and capabilities.
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
- Talk to other entrepreneurs in Medford. Ask them candidly what it's like to run a business.
- 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. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Which Business to Choose?
An important decision is what kind of business you want to start. To stir your creative juices on what kind of business to start, take a look at Free Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Plumbing & Heating Supplies Wholesale & Manufacturers Business guide or our How to Start a Stereo Equipment Custom Installation Business guide.
Don't forget that your new startup will be located in Medford. Some businesses will do better in Medford than others. Study Medford demographics and do a competitive analysis as part of your startup planning process.
Medford, Massachusetts Demographic Information
Medford has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Medford demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Medford.
| Business Size | # of
Businesses |
| 1-4 Employees |
10620 |
| 5-9 Employees |
3972 |
| 10-19 Employees |
2694 |
| 20-49 Employees |
1566 |
| 50-99 Employees |
558 |
| 100-249 Employees |
288 |
| 250-499 Employees |
54 |
| 500-999 Employees |
18 |
| 1000+ Employees |
36 |
| All Medford Businesses |
19806 |
As a new Medford entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Medford 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 |
5 |
| Art Dealers |
1 |
| Automobile Driving Schools |
1 |
|
Automotive Glass Replacement Shops |
1 |
| Automotive Parts and Accessories Stores |
10 |
| Automotive Transmission Repair |
1 |
| Baked Goods Stores |
1 |
| Barber Shops |
1 |
| Beauty Salons |
16 |
| Beer and Ale Merchant Wholesalers |
1 |
| Beer, Wine, and Liquor Stores |
10 |
|
Boat Dealers |
1 |
| Book Stores |
4 |
| Cafeterias |
2 |
| Car Washes |
2 |
| Carpet and Upholstery Cleaning Services |
1 |
| Caterers |
5 |
| Child and Youth Services |
1 |
| Child Day Care Services |
10 |
|
Children's and Infants' Clothing Stores |
1 |
| Civic and Social Organizations |
3 |
| Clothing Accessories Stores |
1 |
| Coin-Operated Laundries and Drycleaners |
3 |
| Commercial Bakeries |
3 |
| Commercial Photography |
1 |
| Commercial Screen Printing |
2 |
| Computer and Software Stores |
4 |
|
Computer Systems Design Services |
7 |
| Confectionery Merchant Wholesalers |
1 |
| Convenience Stores |
10 |
| Convention and Trade Show Organizers |
1 |
| Cookie and Cracker Manufacturing |
1 |
| Cosmetology and Barber Schools |
1 |
| Couriers |
4 |
| Court Reporting and Stenotype Services |
1 |
|
Credit Card Issuing |
1 |
| Credit Unions |
1 |
| Curtain and Drapery Mills |
1 |
| Custom Computer Programming Services |
11 |
| Dental Laboratories |
2 |
| Diagnostic Imaging Centers |
2 |
| Diet and Weight Reducing Centers |
1 |
| Discount Department Stores |
1 |
|
Document Preparation Services |
1 |
| Drinking Places (Alcoholic Beverages) |
2 |
| Drywall and Insulation Contractors |
3 |
| Educational Support Services |
1 |
| Electrical Contractors |
30 |
| Electronic Shopping |
1 |
| Elementary and Secondary Schools |
2 |
| Employment Placement Agencies |
2 |
|
Engineering Services |
11 |
| Envelope Manufacturing |
1 |
| Environmental Consulting Services |
2 |
| Exam Preparation and Tutoring |
1 |
| Exterminating and Pest Control Services |
3 |
| Family Clothing Stores |
3 |
| Fine Arts Schools |
2 |
| Finish Carpentry Contractors |
6 |
|
Fitness and Recreational Sports Centers |
5 |
| Floor Covering Stores |
1 |
| Flooring Contractors |
2 |
| Florists |
5 |
| Food (Health) Supplement Stores |
2 |
| Food Service Contractors |
1 |
| Framing Contractors |
1 |
| Fruit and Vegetable Markets |
1 |
|
Full-Service Restaurants |
27 |
| Funeral Homes and Funeral Services |
2 |
| Furniture Merchant Wholesalers |
2 |
| Furniture Stores |
3 |
| General Automotive Repair |
18 |
| General Freight Trucking, Local |
2 |
| General Medical and Surgical Hospitals |
1 |
| General Warehousing and Storage |
1 |
|
Gift, Novelty, and Souvenir Stores |
3 |
| Glass and Glazing Contractors |
2 |
| Grantmaking Foundations |
2 |
| Graphic Design Services |
2 |
| Hardware Merchant Wholesalers |
1 |
| Hardware Stores |
1 |
| Heating Oil Dealers |
6 |
| Hobby, Toy, and Game Stores |
1 |
|
Home Furnishing Merchant Wholesalers |
1 |
| Home Health Care Services |
1 |
| Household Appliance Stores |
2 |
| Industrial Valve Manufacturing |
1 |
| Insurance Agencies and Brokerages |
21 |
| Interior Design Services |
1 |
| Internet Publishing and Broadcasting |
1 |
| Internet Service Providers |
1 |
|
Investment Advice |
1 |
| Janitorial Services |
13 |
| Jewelry Stores |
6 |
| Kidney Dialysis Centers |
1 |
| Land Subdivision |
1 |
| Landscape Architectural Services |
2 |
| Landscaping Services |
13 |
| Language Schools |
1 |
|
Limited-Service Restaurants |
28 |
| Limousine Service |
4 |
| Local Messengers and Local Delivery |
2 |
| Locksmiths |
4 |
| Masonry Contractors |
5 |
| Mattress Manufacturing |
1 |
| Meat Markets |
1 |
| Medical Laboratories |
3 |
|
Men's Clothing Stores |
2 |
| Mobile Food Services |
1 |
| Monetary Authorities-Central Bank |
1 |
| Motion Picture and Video Production |
2 |
| Motor Vehicle Towing |
4 |
| Museums |
1 |
| Musical Instrument and Supplies Stores |
2 |
| Nail Salons |
3 |
|
New Car Dealers |
7 |
| New Housing Operative Builders |
2 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
2 |
| Nursing Care Facilities |
2 |
| Office Administrative Services |
2 |
| Office Equipment Merchant Wholesalers |
1 |
| Office Supplies and Stationery Stores |
1 |
|
Offices of Certified Public Accountants |
7 |
| Offices of Chiropractors |
3 |
| Offices of Dentists |
29 |
| Offices of Lawyers |
27 |
| Offices of Other Holding Companies |
1 |
| Offices of Podiatrists |
3 |
| One-Hour Photofinishing |
1 |
| Optical Goods Stores |
4 |
|
Paint and Wallpaper Stores |
1 |
| Painting and Wall Covering Contractors |
13 |
| Parking Lots and Garages |
3 |
| Passenger Car Rental |
1 |
| Payroll Services |
1 |
| Periodical Publishers |
1 |
| Perishable Prepared Food Manufacturing |
1 |
| Pet and Pet Supplies Stores |
2 |
|
Pet Care (except Veterinary) Services |
1 |
| Pharmacies and Drug Stores |
6 |
| Portfolio Management |
1 |
| Prepress Services |
1 |
| Professional Organizations |
1 |
| Radio Stations |
14 |
| Real Estate Credit |
2 |
| Refrigerated Warehousing and Storage |
1 |
|
Residential Property Managers |
2 |
| Residential Remodelers |
21 |
| Retail Bakeries |
1 |
| Reupholstery and Furniture Repair |
1 |
| Roofing Contractors |
5 |
| Savings Institutions |
15 |
| School and Employee Bus Transportation |
2 |
| Securities Brokerage |
1 |
|
Security Guards and Patrol Services |
2 |
| Shoe Stores |
5 |
| Siding Contractors |
2 |
| Sign Manufacturing |
1 |
| Site Preparation Contractors |
6 |
| Snack and Nonalcoholic Beverage Bars |
11 |
| Software Publishers |
3 |
| Sporting Goods Stores |
3 |
|
Sports and Recreation Instruction |
3 |
| Tax Preparation Services |
3 |
| Taxi Service |
2 |
| Telemarketing Bureaus |
2 |
| Temporary Help Services |
4 |
| Theater Companies and Dinner Theaters |
1 |
| Tile and Terrazzo Contractors |
2 |
| Tire Dealers |
1 |
|
Title Abstract and Settlement Offices |
1 |
| Tobacco Stores |
2 |
| Travel Agencies |
4 |
| Used Car Dealers |
1 |
| Used Household and Office Goods Moving |
1 |
| Veterinary Services |
2 |
| Video Tape and Disc Rental |
2 |
| Vocational Rehabilitation Services |
1 |
|
Warehouse Clubs and Supercenters |
1 |
| Wholesale Trade Agents and Brokers |
1 |
| Wired Telecommunications Carriers |
5 |
| Women's Clothing Stores |
4 |
Choosing a Company Name
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
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.
For other considerations regarding naming a company, we recommend this article: Branding Advice.
As a final piece of advice, remember that because you are opening a business in Medford, it's very important that you make sure no Massachusetts company has already registered the company name you have selected.
Startup Financing Basics
Obtaining startup financing for your Medford business will be harder than you might expect. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Medford entrepreneurs who need startup capital, check out our List of Massachusetts Angel Investors and our List of Massachusetts Venture Capital Firms.
Letting the World Know You Exist
To grow your Medford business, you need a solid marketing plan.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Making the Most of Trade Shows is a good read to get your marketing juices flowing. That's just one of the many useful articles we have on Marketing a Small Business.
Next Steps
You have a dream -- starting a business in Medford. 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 Medford businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Medford, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Medford, Massachusetts
Here are more links that we believe will help you be successful in starting a business in Medford.
- Resources for Medford, Massachusetts Entrepreneurs - Browse a variety of resources we've collected to assist Medford entrepreneurs.
- Massachusetts Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Massachusetts.
- Massachusetts Small Business Development Center - The Massachusetts Small Business Development Center (MSBDC) Network provides one-to-one free comprehensive and confidential services focusing on, business growth and strategies, financing and loan assistance as well as strategic, marketing and operational analysis.
- Medford, Massachusetts Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Medford, Massachusetts newspapers, including ad costs for newspapers serving the Medford area.
- Medford, Massachusetts Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Medford, Massachusetts area radio stations.
- Medford, Massachusetts Payroll Services - This list includes Medford, Massachusetts payroll services, national payroll services for Medford, and helpful information on choosing a Medford payroll service.
- Medford, Massachusetts Businesses for Sale - This list includes resources for buying a business in Medford, Massachusetts, such as business brokers in Medford and other helpful information on how to buy a Medford business.
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