Opening a Business in Taos, New Mexico

Thinking about starting a business in Taos, New Mexico? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Taos.

Taos, New Mexico Demographic Information

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

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

As a new Taos entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Taos 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.

Is a Franchise Opportunity Right For You?

As you drive around Taos, you may be surprised to see how many franchises there are in the area. Should you be giving franchising serious consideration?

Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as Franchise Marketing Support. 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 America's Best Inns & Suites and Ready Decks Franchise System. Alternatively, you can browse franchise categories, such as Tax Preparation Franchises and Child Safety Franchises.

Note on Taos Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Taos.

Choosing 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.

Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.

There's one other important factor when naming a business. Since you are planning on starting a business in Taos, it's imperative that you check now that no other New Mexico company is using the business name you want to use.

Company Formation in Taos, New Mexico

It's very important that your business is formed as a legal entity that is separate from its owners. 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. Just because you are starting a business in New Mexico, you don't necessarily have to incorporate in New Mexico. 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's a lot to know about forming a company. To learn the basics of company formation, browse articles on our site, such as Incorporation Advice. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Taos, New Mexico, our information on Incorporating in New Mexico may be a useful resource if you decide to incorporate in New Mexico.

Where to Get Money to Start a Company

Getting your Taos business the capital it needs to succeed will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

Take advantage of our many articles on securing funding, such as 504 Loans.

For Taos entrepreneurs with great ambition but a shortage of investment capital, check out our List of New Mexico Angel Investors and our List of New Mexico Venture Capital Firms.

The Art of Selling

Mastering the art of selling is essential if you want your new Taos business to do well.

The key to selling is to set sales goals goals and monitor your progress towards those goals. Let us help you refine your selling techniques through our many useful sales advice tips.

Cold Call Selling offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

Advancing Your Entrepreneurial Skills

Good entrepreneurs know that they don't know everything.

As an entrepreneur who lives in Taos, New Mexico, you will want to take advantage of the many programs available at nearby New Mexico universities, colleges and community colleges. It's also worthwhile to see if there are any networking groups or organizations in which Taos entrepreneurs get together to network and trade their business experiences.

Next Steps

Most new Taos businesses underestimate the number of challenges they will face.

If you choose the right business and love what you do, you will greatly increase your odds of success.

We are here to help Taos 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 Taos, New Mexico

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

• Resources for Taos, New Mexico Entrepreneurs - Browse a variety of resources we've collected to assist Taos entrepreneurs.
• New Mexico Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New Mexico.
• New Mexico Small Business Development Center - New Mexico Small Business Development Centers provide quality direct assistance, entrepreneurial education and resource links for potential and existing small businesses to strengthen the economy of New Mexico.
• Taos, New Mexico Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Taos, New Mexico newspapers, including ad costs for newspapers serving the Taos area.
• Taos, New Mexico Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Taos, New Mexico area radio stations.