Iowa Business Startup Guides

Opening a Business in Spencer, Iowa

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

What Type of Business Should You Start?

An important decision is what kind of business you want to start. We recommend that you read Evaluating Your Idea.

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 How to Start a Machinery Movers & Erectors Business guide or our Starting a Survival Equipment & Supplies Business guide.

Always keep in mind that your new startup will be located in Spencer. The business you want to start may already be well-represented in Spencer. A critical consideration is whether Spencer demographics mesh well with your startup concept.

Spencer, Iowa Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
10166
5-9 Employees
4602
10-19 Employees
3315
20-49 Employees
2457
50-99 Employees
624
100-249 Employees
195
250-499 Employees
117
500-999 Employees
0
1000+ Employees
0
All Spencer Businesses
21476

As a new Spencer entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Spencer 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
Architectural Services
1
Automotive Exhaust System Repair
1
Automotive Glass Replacement Shops
1
Automotive Parts and Accessories Stores
5
Baked Goods Stores
1
Beauty Salons
6
Beer and Ale Merchant Wholesalers
2
Book Stores
2
Bowling Centers
2
Business Associations
3
Cable and Other Program Distribution
1
Cafeterias
3
Car Washes
2
Carpet and Upholstery Cleaning Services
2
Child Day Care Services
4
Civic and Social Organizations
4
Clothing Accessories Stores
1
Collection Agencies
1
Commercial Lithographic Printing
2
Commercial Screen Printing
1
Computer and Software Stores
2
Consumer Lending
1
Continuing Care Retirement Communities
1
Couriers
1
Credit Unions
2
Custom Computer Programming Services
1
Dental Laboratories
1
Diagnostic Imaging Centers
1
Drywall and Insulation Contractors
1
Electric Power Distribution
1
Electrical Contractors
1
Electronic Shopping
1
Elementary and Secondary Schools
2
Emergency and Other Relief Services
1
Engineering Services
1
Exterminating and Pest Control Services
1
Family Clothing Stores
2
Family Planning Centers
1
Farm Management Services
1
Farm Supplies Merchant Wholesalers
3
Finish Carpentry Contractors
2
Fitness and Recreational Sports Centers
5
Florists
1
Food (Health) Supplement Stores
3
Fossil Fuel Electric Power Generation
1
Framing Contractors
1
Full-Service Restaurants
13
Funeral Homes and Funeral Services
1
Furniture Stores
6
General Freight Trucking, Local
2
General Medical and Surgical Hospitals
1
General Warehousing and Storage
1
Gift, Novelty, and Souvenir Stores
4
Golf Courses and Country Clubs
1
Grantmaking Foundations
1
Hardware Manufacturing
1
Hobby, Toy, and Game Stores
1
Home Centers
1
Home Health Care Services
1
Home Health Equipment Rental
1
Homes for the Elderly
1
Household Appliance Stores
5
Industrial Launderers
2
Interior Design Services
1
Janitorial Services
1
Jewelry Stores
2
Land Subdivision
1
Landscaping Services
3
Lessors of Other Real Estate Property
3
Limited-Service Restaurants
15
Local Messengers and Local Delivery
2
Locksmiths
1
Machine Shops
3
Meat Processed from Carcasses
1
Men's Clothing Stores
2
Mobile Food Services
1
Museums
1
Natural Gas Distribution
1
New Car Dealers
4
Newspaper Publishers
1
Nonresidential Property Managers
1
Nursing Care Facilities
3
Office Administrative Services
1
Office Supplies and Stationery Stores
1
Offices of Chiropractors
7
Offices of Dentists
6
Offices of Lawyers
8
Offices of Optometrists
4
Offices of Podiatrists
1
Offices of Real Estate Appraisers
2
One-Hour Photofinishing
1
Paint and Wallpaper Stores
2
Painting and Wall Covering Contractors
3
Pet and Pet Supplies Stores
1
Pet Care (except Veterinary) Services
1
Pharmacies and Drug Stores
1
Photography Studios, Portrait
3
Precision Turned Product Manufacturing
4
Quick Printing
1
Radio Stations
3
Refrigerated Warehousing and Storage
1
Residential Property Managers
1
Residential Remodelers
3
Rolled Steel Shape Manufacturing
1
Roofing Contractors
3
Securities Brokerage
2
Security Guards and Patrol Services
2
Septic Tank and Related Services
3
Sewage Treatment Facilities
1
Sheet Metal Work Manufacturing
1
Shoe Stores
5
Siding Contractors
1
Snack and Nonalcoholic Beverage Bars
3
Special Needs Transportation
1
Sporting Goods Stores
4
Tax Preparation Services
2
Taxi Service
1
Temporary Help Services
2
Theater Companies and Dinner Theaters
1
Tire Retreading
1
Title Abstract and Settlement Offices
1
Tobacco Stores
1
Travel Agencies
1
Used Car Dealers
2
Used Merchandise Stores
4
Veterinary Services
1
Vocational Rehabilitation Services
2
Warehouse Clubs and Supercenters
1
Wholesale Trade Agents and Brokers
1
Wired Telecommunications Carriers
3
Women's Clothing Stores
7

Picking a Business Name

A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.

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 Company.

As a final piece of advice, remember that because you are starting a business in Spencer, it's very important that you make sure no other Iowa company is using the business name you want to use.

Forming a Company in Spencer, Iowa

It's essential that you choose the right legal structure for your new entity. 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 Iowa, you don't necessarily have to incorporate in Iowa. As it turns out, you are allowed to incorporate in any state you would like to. 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 Registered Agents. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Spencer, Iowa, our information on Incorporating in Iowa may be a useful resource if you decide to incorporate in Iowa.

Where to Get Money to Start a Company

Getting your Spencer business the capital it needs to succeed requires strong organization skills and perseverance. In fact, financing your new business may be the hardest challenge you ever face.

To learn about raising money, we recommend you read the fundraising articles on our site, such as How Equity Dilution Works.

For Spencer entrepreneurs in need of startup financing, we have assembled a List of Iowa Angel Investors and our List of Iowa Venture Capital Firms.

Marketing Your New Venture

To grow your Spencer business, you need a solid marketing plan.

You can learn quite a bit about marketing on our site. Search Engine Promotion is a good read to get your marketing creativity flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Bring in Revenues

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Spencer or are selling to customers throughout Iowa, the United States or even the world, you have to be able to sell.

Why should customers buy from you instead of buying from competitors? The good news is we can help you to make selling a big competitve advantage for your new firm.

Sales Prospecting is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

What's Next?

You have a dream -- starting a business in Spencer. To achieve your dream, you have to persevere, even when the odds are against you.

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in Spencer 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 Spencer, Iowa

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

  • Resources for Spencer, Iowa Entrepreneurs - Browse a variety of resources we've collected to assist Spencer entrepreneurs.
  • Iowa Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Iowa.
  • Iowa Small Business Development Center - The Iowa SBDC conducts research, counsels, and trains business people in management, financing, and operating small businesses. They provide comprehensive information services and access to experts in a variety of fields. This is a great resource for Iowa entrepreneurs!

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