Are you starting a business in Monroe, Louisiana? This article discusses the most important things to consider when opening a business in Monroe.
Do You Have What It Takes?
Most startup businesses fail, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Speak with other entrepreneurs in Monroe. Get their candid feedback on what it takes to start a successful business.
- You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
- Involve a spouse, family member or trusted friend in the decision. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Monroe, Louisiana Demographic Information
Monroe has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Monroe demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Monroe.
| Business Size | # of
Businesses |
| 1-4 Employees |
58095 |
| 5-9 Employees |
26280 |
| 10-19 Employees |
18090 |
| 20-49 Employees |
10935 |
| 50-99 Employees |
4860 |
| 100-249 Employees |
1890 |
| 250-499 Employees |
180 |
| 500-999 Employees |
225 |
| 1000+ Employees |
225 |
| All Monroe Businesses |
120780 |
As a new Monroe entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Monroe 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 |
| Advertising Agencies |
7 |
| Air and Gas Compressor Manufacturing |
1 |
| Ambulance Services |
1 |
| Amusement Arcades |
1 |
| Appliance Repair and Maintenance |
1 |
| Apprenticeship Training |
1 |
| Architectural Services |
7 |
| Art Dealers |
2 |
| Automotive Parts and Accessories Stores |
16 |
| Automotive Transmission Repair |
3 |
| Baked Goods Stores |
4 |
| Barber Shops |
1 |
| Beauty Salons |
10 |
| Beer and Ale Merchant Wholesalers |
2 |
| Beer, Wine, and Liquor Stores |
8 |
| Blood and Organ Banks |
4 |
| Boat Dealers |
3 |
| Book Stores |
5 |
| Bowling Centers |
1 |
| Broadwoven Fabric Finishing Mills |
1 |
| Business Associations |
9 |
| Cable and Other Program Distribution |
2 |
| Cafeterias |
2 |
| Camera and Photographic Supplies Stores |
1 |
| Car Washes |
1 |
| Carpet and Upholstery Cleaning Services |
1 |
| Caterers |
3 |
| Cemeteries and Crematories |
2 |
| Child and Youth Services |
8 |
| Child Day Care Services |
31 |
| Children's and Infants' Clothing Stores |
8 |
| Civic and Social Organizations |
16 |
| Claims Adjusting |
1 |
| Clothing Accessories Stores |
3 |
| Collection Agencies |
4 |
| Commercial Bakeries |
1 |
| Commercial Lithographic Printing |
5 |
| Commercial Photography |
1 |
| Community Food Services |
2 |
| Computer and Software Stores |
2 |
| Computer Systems Design Services |
3 |
| Confectionery and Nut Stores |
1 |
| Consumer Lending |
32 |
| Convenience Stores |
12 |
| Convention and Trade Show Organizers |
1 |
| Cosmetology and Barber Schools |
3 |
| Couriers |
4 |
| Court Reporting and Stenotype Services |
2 |
| Credit Unions |
9 |
| Custom Computer Programming Services |
5 |
| Dance Companies |
1 |
| Dental Laboratories |
2 |
| Diagnostic Imaging Centers |
2 |
| Digital Printing |
2 |
| Direct Life Insurance Carriers |
5 |
| Directory and Mailing List Publishers |
2 |
| Discount Department Stores |
1 |
| Display Advertising |
3 |
| Document Preparation Services |
1 |
| Drafting Services |
2 |
| Drilling Oil and Gas Wells |
4 |
| Drinking Places (Alcoholic Beverages) |
9 |
| Educational Support Services |
4 |
| Electrical Contractors |
8 |
| Electronic Shopping |
1 |
| Elementary and Secondary Schools |
10 |
| Emergency and Other Relief Services |
1 |
| Employment Placement Agencies |
1 |
| Engineering Services |
26 |
| Environmental Consulting Services |
3 |
| Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
6 |
| Facilities Support Services |
2 |
| Family Clothing Stores |
20 |
| Farm Supplies Merchant Wholesalers |
2 |
| Fine Arts Schools |
3 |
| Finish Carpentry Contractors |
3 |
| Fish and Seafood Markets |
1 |
| Fish and Seafood Merchant Wholesalers |
2 |
| Fitness and Recreational Sports Centers |
14 |
| Floor Covering Stores |
7 |
| Flooring Contractors |
4 |
| Florists |
7 |
| Food (Health) Supplement Stores |
3 |
| Food Service Contractors |
12 |
| Formal Wear and Costume Rental |
5 |
| Framing Contractors |
1 |
| Freight Transportation Arrangement |
1 |
| Full-Service Restaurants |
51 |
| Funeral Homes and Funeral Services |
3 |
| Furniture Merchant Wholesalers |
1 |
| Furniture Stores |
20 |
| General Automotive Repair |
22 |
| General Freight Trucking, Local |
2 |
| General Medical and Surgical Hospitals |
6 |
| General Rental Centers |
4 |
| General Warehousing and Storage |
4 |
| Gift, Novelty, and Souvenir Stores |
12 |
| Golf Courses and Country Clubs |
3 |
| Hardware Merchant Wholesalers |
2 |
| Hardware Stores |
4 |
| Hazardous Waste Treatment and Disposal |
1 |
| Hobby, Toy, and Game Stores |
2 |
| Home Centers |
2 |
| Home Health Care Services |
22 |
| Home Health Equipment Rental |
2 |
| Homes for the Elderly |
1 |
| Household Appliance Stores |
3 |
| Ice Manufacturing |
3 |
| Industrial Building Construction |
1 |
| Industrial Launderers |
1 |
| Insurance Agencies and Brokerages |
66 |
| Interior Design Services |
3 |
| Internet Service Providers |
1 |
| Interurban and Rural Bus Transportation |
1 |
| Investigation Services |
1 |
| Investment Advice |
4 |
| Janitorial Services |
18 |
| Jewelry Stores |
15 |
| Kidney Dialysis Centers |
4 |
| Land Subdivision |
3 |
| Landscape Architectural Services |
3 |
| Landscaping Services |
20 |
| Lessors of Other Real Estate Property |
2 |
| Limited-Service Restaurants |
79 |
| Limousine Service |
1 |
| Local Messengers and Local Delivery |
3 |
| Locksmiths |
2 |
| Logging |
1 |
| Machine Shops |
2 |
| Mail-Order Houses |
1 |
| Manufactured (Mobile) Home Dealers |
7 |
| Marinas |
1 |
| Marketing Consulting Services |
2 |
| Masonry Contractors |
7 |
| Meat Markets |
2 |
| Medical Laboratories |
2 |
| Men's Clothing Stores |
10 |
| Metal Tank (Heavy Gauge) Manufacturing |
1 |
| Metal Window and Door Manufacturing |
1 |
| Miscellaneous Intermediation |
4 |
| Mortgage and Nonmortgage Loan Brokers |
9 |
| Motion Picture and Video Production |
5 |
| Motor Vehicle Towing |
3 |
| Motorcycle Dealers |
4 |
| Museums |
4 |
| Musical Groups and Artists |
1 |
| Musical Instrument and Supplies Stores |
3 |
| Nail Salons |
2 |
| Natural Gas Distribution |
1 |
| New Car Dealers |
12 |
| New Housing Operative Builders |
1 |
| Newspaper Publishers |
2 |
| Nonresidential Property Managers |
3 |
| Nursing Care Facilities |
8 |
| Office Administrative Services |
9 |
| Office Equipment Merchant Wholesalers |
4 |
| Office Supplies and Stationery Stores |
7 |
| Offices of Certified Public Accountants |
49 |
| Offices of Chiropractors |
7 |
| Offices of Dentists |
51 |
| Offices of Lawyers |
126 |
| Offices of Optometrists |
3 |
| Offices of Other Holding Companies |
3 |
| Offices of Podiatrists |
2 |
| Offices of Real Estate Appraisers |
10 |
| One-Hour Photofinishing |
1 |
| Ophthalmic Goods Merchant Wholesalers |
1 |
| Optical Goods Stores |
6 |
| Outdoor Power Equipment Stores |
2 |
| Packaging and Labeling Services |
1 |
| Packaging Machinery Manufacturing |
1 |
| Paging |
2 |
| Paint and Wallpaper Stores |
3 |
| Painting and Wall Covering Contractors |
9 |
| Passenger Car Rental |
3 |
| Payroll Services |
4 |
| Periodical Publishers |
1 |
| Perishable Prepared Food Manufacturing |
1 |
| Pet and Pet Supplies Stores |
2 |
| Pet Care (except Veterinary) Services |
1 |
| Petroleum Bulk Stations and Terminals |
3 |
| Pharmacies and Drug Stores |
21 |
| Photography Studios, Portrait |
5 |
| Pipeline Transportation of Natural Gas |
2 |
| Plastics Plumbing Fixture Manufacturing |
1 |
| Portfolio Management |
4 |
| Printing Ink Manufacturing |
1 |
| Professional Employer Organizations |
5 |
| Professional Organizations |
5 |
| Radio Stations |
3 |
| Ready-Mix Concrete Manufacturing |
2 |
| Real Estate Credit |
14 |
| Recreational Vehicle Dealers |
1 |
| Residential Property Managers |
14 |
| Residential Remodelers |
6 |
| Roofing Contractors |
6 |
| Sales Financing |
2 |
| Sawmills |
1 |
| Scheduled Passenger Air Transportation |
4 |
| School and Employee Bus Transportation |
1 |
| Securities Brokerage |
23 |
| Security Guards and Patrol Services |
7 |
| Ship Building and Repairing |
1 |
| Shoe Stores |
18 |
| Siding Contractors |
4 |
| Sign Manufacturing |
1 |
| Site Preparation Contractors |
7 |
| Snack and Nonalcoholic Beverage Bars |
10 |
| Soft Drink Manufacturing |
1 |
| Software Publishers |
1 |
| Solid Waste Collection |
2 |
| Solid Waste Landfill |
3 |
| Sound Recording Studios |
1 |
| Special Needs Transportation |
2 |
| Sporting Goods Stores |
8 |
| Sports and Recreation Instruction |
4 |
| Support Activities for Forestry |
1 |
| Surface-Coated Paperboard Manufacturing |
1 |
| Tax Preparation Services |
9 |
| Telecommunications Resellers |
4 |
| Telephone Answering Services |
2 |
| Television Broadcasting |
2 |
| Temporary Help Services |
11 |
| Temporary Shelters |
3 |
| Testing Laboratories |
3 |
| Textile Bag Mills |
1 |
| Theater Companies and Dinner Theaters |
1 |
| Tile and Terrazzo Contractors |
1 |
| Timber Tract Operations |
1 |
| Tire and Tube Merchant Wholesalers |
1 |
| Tire Dealers |
14 |
| Title Abstract and Settlement Offices |
9 |
| Tobacco Stores |
2 |
| Tour Operators |
1 |
| Travel Agencies |
2 |
| Used Car Dealers |
15 |
| Used Household and Office Goods Moving |
3 |
| Used Merchandise Stores |
6 |
| Vending Machine Operators |
1 |
| Veterinary Services |
7 |
| Video Tape and Disc Rental |
5 |
| Vocational Rehabilitation Services |
2 |
| Voluntary Health Organizations |
3 |
| Warehouse Clubs and Supercenters |
2 |
| Water Supply and Irrigation Systems |
5 |
| Wholesale Trade Agents and Brokers |
13 |
| Wired Telecommunications Carriers |
16 |
| Women's Clothing Stores |
28 |
What About Franchising Opportunities?
As you drive around Monroe, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. Should you be giving franchising serious consideration?
We advise the entrepreneurs we work with to consider franchising as an option. This site has dozens of articles on franchising, such as Franchisees Versus Licensees. Become a franchising expert of sorts by reading more of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Representative franchise opportunities include The Complete Garage and United Shipping Solutions. Alternatively, you can browse franchise categories, such as Wedding Franchises and Food and Drink Franchises.
Note on Monroe Franchise Opportunities: To find out if a franchise you are interested in is available in Monroe, you will need to get in direct contact with the franchisor.
Have You Considered Buying an Existing Monroe Business?
An excellent way to get started in business is to Buy a Business in Louisiana. Follow that link and you might discover several good businesses for sale in Monroe.
Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.
Forming a Company in Monroe, Louisiana
A critical step is ensuring 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.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 Louisiana, it doesn't mean you are required to incorporate in Louisiana. In fact, you can incorporate in the state of your choosing. 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. To learn the fundamentals of company formation, browse articles 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 Monroe, Louisiana, our information on Incorporating in Louisiana may be a useful resource if you decide to incorporate in Louisiana.
Make Sure You Have a Business Plan
A business plan is essential in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Louisiana.
Increase Your Entrepreneurial Knowledge
Successful entrepreneurs recognize that they need to continually improve.
As an entrepreneur who lives in Monroe, Louisiana, you will want to take advantage of the many programs available at nearby Louisiana universities, colleges and community colleges. It's also smart to see if there are any Monroe networking organizations.
Now It's Up To You
Most new Monroe 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 Monroe and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Monroe, Louisiana
Here are more links that we believe will help you be successful in starting a business in Monroe.
More Startup Articles for Louisiana Cities
Starting a Business in Minden
Starting a Business in Morgan City
Browse All
Business Startup Guides for Louisiana
