Are you starting a business in Monticello, Arkansas? This article discusses the most important things to consider when opening a business in Monticello.
Do You Have What It Takes?
Running your own business is hard work, much more challenging than working as an employee. Are you sure you want to go into business for yourself?
Before you move forward with starting a business, be sure to do these three things:
- Speak with other entrepreneurs in Monticello. Get their candid feedback on what it takes to start a successful business.
- You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
- Talk it over with a close friend or partner. 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.
What Business to Start
An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.
To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Pipe & Boiler Covering Contractors Business guide or our Starting a Power Plant Equipment & Services Business guide.
Don't forget that you are starting a business in Monticello. Some businesses will do better in Monticello than others. Make sure you fully understand Monticello demographics before you lock in on your business idea.
Monticello, Arkansas Demographic Information
Monticello has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Monticello demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Monticello.
| Business Size | # of
Businesses |
| 1-4 Employees |
8568 |
| 5-9 Employees |
4116 |
| 10-19 Employees |
2058 |
| 20-49 Employees |
1848 |
| 50-99 Employees |
420 |
| 100-249 Employees |
294 |
| 250-499 Employees |
126 |
| 500-999 Employees |
0 |
| 1000+ Employees |
0 |
| All Monticello Businesses |
17430 |
As a new Monticello entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Monticello 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 |
| Appliance Repair and Maintenance |
1 |
| Automotive Exhaust System Repair |
1 |
| Automotive Parts and Accessories Stores |
6 |
| Beauty Salons |
1 |
| Bed-and-Breakfast Inns |
1 |
|
Boat Building |
5 |
| Book Stores |
1 |
| Bowling Centers |
1 |
| Business Associations |
2 |
| Cable and Other Program Distribution |
1 |
| Carpet and Rug Mills |
1 |
| Child Day Care Services |
3 |
| Children's and Infants' Clothing Stores |
1 |
|
Civic and Social Organizations |
2 |
| Commercial Bakeries |
1 |
| Convenience Stores |
1 |
| Credit Unions |
1 |
| Discount Department Stores |
1 |
| Electric Power Distribution |
1 |
| Electrical Contractors |
1 |
| Elementary and Secondary Schools |
2 |
|
Exam Preparation and Tutoring |
2 |
| Exterminating and Pest Control Services |
1 |
| Family Clothing Stores |
3 |
| Farm Supplies Merchant Wholesalers |
1 |
| Floor Covering Stores |
2 |
| Florists |
4 |
| Food (Health) Supplement Stores |
1 |
| Food Service Contractors |
1 |
|
Full-Service Restaurants |
9 |
| Funeral Homes and Funeral Services |
2 |
| Furniture Stores |
3 |
| General Automotive Repair |
3 |
| General Medical and Surgical Hospitals |
1 |
| Gift, Novelty, and Souvenir Stores |
2 |
| Golf Courses and Country Clubs |
2 |
| Home Centers |
1 |
|
Home Furnishing Merchant Wholesalers |
1 |
| Home Health Care Services |
2 |
| Home Health Equipment Rental |
1 |
| Homes for the Elderly |
1 |
| Household Appliance Stores |
2 |
| Industrial Building Construction |
1 |
| Insurance Agencies and Brokerages |
7 |
| Janitorial Services |
3 |
|
Jewelry Stores |
2 |
| Kidney Dialysis Centers |
1 |
| Landscaping Services |
2 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
16 |
| Logging |
15 |
| Machine Shops |
1 |
| Manufactured (Mobile) Home Dealers |
2 |
|
Marketing Consulting Services |
1 |
| Museums |
1 |
| Musical Instrument and Supplies Stores |
1 |
| Natural Gas Liquid Extraction |
1 |
| New Car Dealers |
2 |
| Newspaper Publishers |
2 |
| Nursing Care Facilities |
2 |
| Office Administrative Services |
3 |
|
Office Equipment Merchant Wholesalers |
1 |
| Office Supplies and Stationery Stores |
1 |
| Offices of Certified Public Accountants |
5 |
| Offices of Chiropractors |
3 |
| Offices of Dentists |
8 |
| Offices of Lawyers |
10 |
| Offices of Optometrists |
3 |
| Offices of Other Holding Companies |
1 |
|
Offices of Real Estate Appraisers |
3 |
| Outdoor Power Equipment Stores |
1 |
| Paint and Wallpaper Stores |
1 |
| Painting and Wall Covering Contractors |
1 |
| Pharmacies and Drug Stores |
3 |
| Photography Studios, Portrait |
1 |
| Pipeline Transportation of Natural Gas |
1 |
| Polystyrene Foam Product Manufacturing |
1 |
|
Quick Printing |
1 |
| Radio Stations |
1 |
| Ready-Mix Concrete Manufacturing |
1 |
| Residential Property Managers |
2 |
| Residential Remodelers |
1 |
| Sawmills |
6 |
| Securities Brokerage |
1 |
| Shoe Stores |
2 |
|
Site Preparation Contractors |
3 |
| Snack and Nonalcoholic Beverage Bars |
1 |
| Sporting Goods Stores |
2 |
| Support Activities for Forestry |
7 |
| Tax Preparation Services |
1 |
| Temporary Help Services |
2 |
| Temporary Shelters |
1 |
| Tire Dealers |
3 |
|
Title Abstract and Settlement Offices |
1 |
| Tobacco Stores |
3 |
| Used Car Dealers |
1 |
| Veterinary Services |
1 |
| Video Tape and Disc Rental |
2 |
| Vocational Rehabilitation Services |
1 |
| Warehouse Clubs and Supercenters |
1 |
| Water Supply and Irrigation Systems |
4 |
|
Wholesale Trade Agents and Brokers |
1 |
| Wired Telecommunications Carriers |
2 |
| Women's Clothing Stores |
3 |
| Wood Window and Door Manufacturing |
1 |
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.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
There's one other important factor when naming a business. Since you are planning on starting a business in Monticello, it's critical that you ensure that no other Arkansas company is using the business name you want to use.
Startup Financing Basics
Getting your Monticello business the capital it needs to succeed requires strong organization skills and perseverance. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Monticello entrepreneurs with great ambition but a shortage of investment capital, we have assembled a List of Arkansas Angel Investors and our List of Arkansas Venture Capital Firms.
Bring in Revenues
Do you know how to sell? In order to attract customers to your new Monticello business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
Landing Big Customers is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Now It's Up To You
As an entrepreneur in Monticello, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help Monticello businesses to be successful. 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 Monticello, Arkansas
Here are more links that we believe will help you be successful in starting a business in Monticello.
- Resources for Monticello, Arkansas Entrepreneurs - Browse a variety of resources we've collected to assist Monticello entrepreneurs.
- Arkansas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Arkansas.
- Arkansas Small Business Development Center - The Arkansas Small Business Development Center (ASBDC) is a University-based economic development program which provides assistance to entrepreneurs and small businesses throughout Arkansas via a statewide network of seven offices.
- Monticello, Arkansas Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Monticello, Arkansas newspapers, including ad costs for newspapers serving the Monticello area.
- Monticello, Arkansas Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Monticello, Arkansas area radio stations.
- Monticello, Arkansas Payroll Services - This list includes Monticello, Arkansas payroll services, national payroll services for Monticello, and helpful information on choosing a Monticello payroll service.
- Monticello, Arkansas Businesses for Sale - This list includes resources for buying a business in Monticello, Arkansas, such as business brokers in Monticello and other helpful information on how to buy a Monticello business.
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