Are you starting a business in West Fargo, North Dakota? This article discusses the most important things to consider when opening a business in West Fargo.
Do You Have What It Takes?
Most startup businesses fail, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Speak with other entrepreneurs in West Fargo. Get their candid feedback on what it takes to start a successful business.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. 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.
West Fargo, North Dakota Demographic Information
West Fargo has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for West Fargo demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in West Fargo.
| Business Size | # of
Businesses |
| 1-4 Employees |
804 |
| 5-9 Employees |
300 |
| 10-19 Employees |
236 |
| 20-49 Employees |
144 |
| 50-99 Employees |
54 |
| 100-249 Employees |
36 |
| 250-499 Employees |
0 |
| 500-999 Employees |
0 |
| 1000+ Employees |
0 |
| All West Fargo Businesses |
1574 |
As a new West Fargo entrepreneur, you may also be interested in the table below. It shows how many businesses there are in West Fargo 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 |
|
Amusement Arcades |
1 |
| Animal (except Poultry) Slaughtering |
1 |
| Automobile Driving Schools |
1 |
| Automobile Manufacturing |
1 |
| Automotive Exhaust System Repair |
1 |
| Automotive Parts and Accessories Stores |
6 |
| Automotive Transmission Repair |
2 |
| Baked Goods Stores |
1 |
|
Beauty Salons |
4 |
| Beer, Wine, and Liquor Stores |
6 |
| Book Publishers |
1 |
| Business Associations |
1 |
| Car Washes |
1 |
| Carpet and Upholstery Cleaning Services |
2 |
| Child Day Care Services |
12 |
| Civic and Social Organizations |
4 |
|
Claims Adjusting |
1 |
| Commercial Bakeries |
1 |
| Commercial Flexographic Printing |
1 |
| Commercial Gravure Printing |
1 |
| Commercial Lithographic Printing |
2 |
| Computer Systems Design Services |
2 |
| Computer Training |
1 |
| Construction Machinery Manufacturing |
1 |
|
Consumer Lending |
1 |
| Credit Bureaus |
1 |
| Custom Computer Programming Services |
1 |
| Digital Printing |
1 |
| Display Advertising |
1 |
| Drinking Places (Alcoholic Beverages) |
5 |
| Drywall and Insulation Contractors |
6 |
| Electric Power Distribution |
1 |
|
Electrical Contractors |
6 |
| Engineering Services |
4 |
| Environmental Consulting Services |
1 |
| Exterminating and Pest Control Services |
2 |
| Family Clothing Stores |
3 |
| Farm Supplies Merchant Wholesalers |
4 |
| Finish Carpentry Contractors |
4 |
| Floor Covering Stores |
1 |
|
Flooring Contractors |
10 |
| Florists |
2 |
| Formal Wear and Costume Rental |
1 |
| Framing Contractors |
4 |
| Freight Transportation Arrangement |
4 |
| Full-Service Restaurants |
6 |
| Funeral Homes and Funeral Services |
1 |
| Furniture Stores |
1 |
|
General Automotive Repair |
9 |
| General Freight Trucking, Local |
6 |
| Hardware Stores |
1 |
| Hobby, Toy, and Game Stores |
1 |
| Home Centers |
1 |
| Household Appliance Stores |
1 |
| Industrial Launderers |
1 |
| Insurance Agencies and Brokerages |
12 |
|
Interior Design Services |
1 |
| Investment Advice |
2 |
| Janitorial Services |
5 |
| Land Subdivision |
1 |
| Landscaping Services |
6 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
7 |
| Limousine Service |
1 |
|
Livestock Merchant Wholesalers |
2 |
| Local Messengers and Local Delivery |
3 |
| Manufactured (Mobile) Home Dealers |
1 |
| Marketing Consulting Services |
2 |
| Masonry Contractors |
3 |
| Meat Processed from Carcasses |
1 |
| Metal Window and Door Manufacturing |
1 |
| Motor Vehicle Towing |
2 |
|
Motorcycle Dealers |
1 |
| Museums |
1 |
| New Housing Operative Builders |
1 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
1 |
| Office Administrative Services |
1 |
| Office Equipment Merchant Wholesalers |
1 |
| Offices of Certified Public Accountants |
2 |
|
Offices of Chiropractors |
5 |
| Offices of Dentists |
4 |
| Offices of Lawyers |
3 |
| Offices of Optometrists |
2 |
| Offices of Real Estate Appraisers |
1 |
| Ophthalmic Goods Manufacturing |
1 |
| Ophthalmic Goods Merchant Wholesalers |
1 |
| Paint and Wallpaper Stores |
1 |
|
Painting and Wall Covering Contractors |
2 |
| Passenger Car Leasing |
1 |
| Periodical Publishers |
2 |
| Perishable Prepared Food Manufacturing |
1 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
4 |
| Photography Studios, Portrait |
2 |
| Plastics Plumbing Fixture Manufacturing |
1 |
|
Plate Work Manufacturing |
1 |
| Prepress Services |
1 |
| Professional Employer Organizations |
1 |
| Recreational Goods Rental |
1 |
| Residential Property Managers |
3 |
| Residential Remodelers |
4 |
| Roofing Contractors |
2 |
| Sales Financing |
1 |
|
Savings Institutions |
1 |
| Securities Brokerage |
2 |
| Septic Tank and Related Services |
1 |
| Shoe Stores |
1 |
| Siding Contractors |
4 |
| Sign Manufacturing |
1 |
| Site Preparation Contractors |
1 |
| Snack and Nonalcoholic Beverage Bars |
1 |
|
Solid Waste Landfill |
1 |
| Sporting Goods Stores |
1 |
| Sports and Recreation Instruction |
1 |
| Temporary Help Services |
1 |
| Tire Dealers |
1 |
| Tobacco Stores |
1 |
| Truck Trailer Manufacturing |
1 |
| Truss Manufacturing |
1 |
|
Used Car Dealers |
2 |
| Used Household and Office Goods Moving |
1 |
| Video Tape and Disc Rental |
1 |
| Wholesale Trade Agents and Brokers |
4 |
| Wired Telecommunications Carriers |
1 |
| Women's Clothing Stores |
2 |
Have You Considered Buying an Existing West Fargo Business?
We've created a handy website page for those who want to Buy a Business in North Dakota. Follow that link and you can assess several good businesses for sale in West Fargo.
If you are serious about buying a business, you may want to read this article: How to Buy a Business.
Don't Forget to Create 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. Not having a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in North Dakota.
Startup Financing Basics
Getting your West Fargo business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. 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 raising capital, such as Getting a Small Business Loan.
For West Fargo entrepreneurs with great ambition but a shortage of investment capital, check out our List of North Dakota Angel Investors and our List of North Dakota Venture Capital Firms.
Bring in Revenues
Mastering the art of selling is priority one if you want your new West Fargo business to do well.
The key to selling is to set sales goals goals and monitor your progress towards those goals. The good news is we can help you to make selling a big competitve advantage for your new firm.
Selling with Questions is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Now It's Up To You
Most new West Fargo 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 West Fargo businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in West Fargo, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in West Fargo, North Dakota
Here are more links that we believe will help you be successful in starting a business in West Fargo.
- Resources for West Fargo, North Dakota Entrepreneurs - Browse a variety of resources we've collected to assist West Fargo entrepreneurs.
- North Dakota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in North Dakota.
- North Dakota Small Business Development Center - The North Dakota Small Business Development Center's mission is to provide high quality business assistance in the form of counseling, training, and research to existing and prospective North Dakota small businesses.
- West Fargo, North Dakota Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for West Fargo, North Dakota newspapers, including ad costs for newspapers serving the West Fargo area.
- West Fargo, North Dakota Payroll Services - This list includes West Fargo, North Dakota payroll services, national payroll services for West Fargo, and helpful information on choosing a West Fargo payroll service.
- West Fargo, North Dakota Businesses for Sale - This list includes resources for buying a business in West Fargo, North Dakota, such as business brokers in West Fargo and other helpful information on how to buy a West Fargo business.
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