Maryland Business Startup Guides

Starting a Business in Towson, Maryland

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

Do You Have Entrepreneurial Drive and Passion?

Most startup companies do not succeed, in part because the business owner did not have the tenacity and/or the skills to succeed. So, before jumping into the world of entrepreneurship, 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 Towson. 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.

Towson, Maryland Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
3937
5-9 Employees
1509
10-19 Employees
1041
20-49 Employees
738
50-99 Employees
336
100-249 Employees
144
250-499 Employees
30
500-999 Employees
6
1000+ Employees
18
All Towson Businesses
7759

As a new Towson entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Towson 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
12
Ambulance Services
2
Appliance Repair and Maintenance
2
Architectural Services
11
Art Dealers
1
Automotive Glass Replacement Shops
2
Automotive Parts and Accessories Stores
3
Barber Shops
2
Beauty Salons
26
Beer, Wine, and Liquor Stores
6
Book Publishers
4
Book Stores
6
Bowling Centers
2
Building Inspection Services
2
Business Associations
8
Cable and Other Program Distribution
4
Cafeterias
1
Camera and Photographic Supplies Stores
3
Car Washes
4
Caterers
3
Child and Youth Services
1
Child Day Care Services
12
Children's and Infants' Clothing Stores
8
Civic and Social Organizations
9
Claims Adjusting
7
Clothing Accessories Stores
11
Collection Agencies
7
Commercial Lithographic Printing
3
Commodity Contracts Brokerage
1
Community Food Services
1
Computer and Software Stores
5
Computer Systems Design Services
17
Confectionery and Nut Stores
4
Continuing Care Retirement Communities
3
Convenience Stores
4
Convention and Visitors Bureaus
1
Cosmetology and Barber Schools
1
Court Reporting and Stenotype Services
2
Credit Unions
3
Custom Computer Programming Services
10
Diagnostic Imaging Centers
10
Diet and Weight Reducing Centers
1
Digital Printing
1
Direct Life Insurance Carriers
11
Direct Mail Advertising
1
Direct Title Insurance Carriers
2
Directory and Mailing List Publishers
1
Display Advertising
2
Document Preparation Services
1
Drinking Places (Alcoholic Beverages)
7
Educational Support Services
5
Electrical Contractors
3
Electronic Shopping
3
Elementary and Secondary Schools
2
Employment Placement Agencies
10
Engineering Services
27
Environmental Consulting Services
2
Exam Preparation and Tutoring
7
Exterminating and Pest Control Services
1
Facilities Support Services
4
Family Clothing Stores
23
Fine Arts Schools
2
Finish Carpentry Contractors
3
Fish and Seafood Merchant Wholesalers
1
Fitness and Recreational Sports Centers
17
Floor Covering Stores
3
Florists
2
Food (Health) Supplement Stores
6
Formal Wear and Costume Rental
1
Freight Transportation Arrangement
4
Full-Service Restaurants
40
Funeral Homes and Funeral Services
3
Furniture Merchant Wholesalers
1
Furniture Stores
16
General Automotive Repair
19
General Rental Centers
1
Gift, Novelty, and Souvenir Stores
16
Glass and Glazing Contractors
1
Grantmaking Foundations
10
Graphic Design Services
10
Hardware Manufacturing
1
Hardware Stores
3
HMO Medical Centers
1
Hobby, Toy, and Game Stores
5
Home Furnishing Merchant Wholesalers
2
Home Health Care Services
9
Homes for the Elderly
5
Human Rights Organizations
3
Industrial Building Construction
1
Insurance Agencies and Brokerages
85
Interior Design Services
6
Internet Service Providers
1
Investigation Services
2
Investment Advice
19
Janitorial Services
8
Jewelry Stores
17
Land Subdivision
2
Landscape Architectural Services
1
Landscaping Services
11
Lessors of Other Real Estate Property
1
Limited-Service Restaurants
65
Luggage and Leather Goods Stores
1
Marketing Consulting Services
12
Meat Markets
1
Media Buying Agencies
1
Medical Laboratories
4
Men's Clothing Stores
6
Mortgage and Nonmortgage Loan Brokers
15
Motion Picture and Video Production
3
Motor Vehicle Towing
3
Musical Groups and Artists
2
Musical Instrument and Supplies Stores
1
New Car Dealers
5
News Syndicates
1
Newspaper Publishers
3
Nonresidential Property Managers
9
Nursing Care Facilities
20
Office Equipment Merchant Wholesalers
3
Office Supplies and Stationery Stores
2
Offices of Certified Public Accountants
55
Offices of Chiropractors
6
Offices of Dentists
69
Offices of Lawyers
275
Offices of Optometrists
6
Offices of Podiatrists
3
Offices of Real Estate Appraisers
9
One-Hour Photofinishing
1
Optical Goods Stores
10
Paint and Wallpaper Stores
2
Painting and Wall Covering Contractors
4
Parking Lots and Garages
5
Payroll Services
3
Periodical Publishers
3
Pet and Pet Supplies Stores
2
Pet Care (except Veterinary) Services
1
Pharmacies and Drug Stores
12
Photography Studios, Portrait
2
Political Organizations
1
Private Mail Centers
1
Professional Organizations
2
Public Relations Agencies
3
Quick Printing
2
Radio Stations
5
Real Estate Credit
21
Recreational Goods Rental
1
Reinsurance Carriers
2
Remediation Services
2
Residential Property Managers
12
Residential Remodelers
24
Retail Bakeries
1
Roofing Contractors
1
Sales Financing
6
Securities Brokerage
18
Security Guards and Patrol Services
2
Shoe Stores
18
Site Preparation Contractors
2
Snack and Nonalcoholic Beverage Bars
14
Software Publishers
3
Sound Recording Studios
2
Sporting Goods Stores
6
Sports and Recreation Instruction
4
Tax Preparation Services
3
Taxi Service
2
Telecommunications Resellers
3
Telephone Answering Services
2
Temporary Help Services
31
Theater Companies and Dinner Theaters
2
Tire Dealers
2
Title Abstract and Settlement Offices
21
Tobacco Stores
1
Travel Agencies
5
Used Car Dealers
1
Veterinary Services
10
Voluntary Health Organizations
9
Water Supply and Irrigation Systems
1
Web Search Portals
1
Wholesale Trade Agents and Brokers
13
Window Treatment Stores
1
Wired Telecommunications Carriers
8
Women's Clothing Stores
31

Have You Considered Buying an Existing Towson Business?

An excellent way to get started in business is to Buy a Business in Maryland. Follow that link and you may find several good businesses for sale in Towson.

For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.

Forming a Company in Towson, Maryland

A critical step is ensuring 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.

When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Maryland, you don't necessarily have to incorporate in Maryland. In fact, you can incorporate wherever you want. 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 C Corp Versus S Corp. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Towson, Maryland, our web page covering Incorporating in Maryland may be a useful resource if you decide to incorporate in Maryland.

Marketing Your New Venture

To rise above the crowd in Towson and grow your business, you need a excellent marketing plan.

There are myriad resources on this site to help you with your marketing plan. Comparing Advertising to PR discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Improving Your Entrepreneurial Skillset

Good entrepreneurs recognize that what they know now may not be enough to ensure their future success.

As an entrepreneur who lives in Towson, Maryland, you should investigate some of the many programs available at nearby Maryland universities, colleges and community colleges. You should also check if there are any networking groups or organizations in which Towson entrepreneurs get together to network and trade their business experiences.

Now It's Up To You

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

Owning your own business will be a daunting task, but you can do it.

This site is all about helping entrepreneurs in Towson and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Towson entrepreneur who is just getting started or you are already up and running with your new venture.

More Entrepreneurial Resources for Starting a Business in Towson, Maryland

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

More Startup Articles for Maryland Cities

Starting a Business in Takoma Park
Starting a Business in Upper Marlboro

Browse All Business Startup Guides for Maryland
Starting a Business Guides for Other States

 

 

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