January 24, 2021  
 
  Entrepreneurial Resources - Advice for Minnesota Entrepreneurs  
  Ada, Minnesota Resources for Entrepreneurs  
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Starting a Business in Ada, Minnesota

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

What Type of Business Should You Start?

Choosing a business that is right for you is very important. You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.

For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Ceiling Contractors Business guide or our Starting a Private Golf Courses Business guide.

Remember that your new business will be in Ada. Think about what needs are currently being underserved in Ada. Only by spending some time analyzing Ada demographics can you decide if there will be strong demand for your business idea.

Ada, Minnesota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 519
5-9 Employees 270
10-19 Employees 90
20-49 Employees 45
50-99 Employees 9
100-249 Employees 18
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Ada Businesses 951

As a new Ada entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ada 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 and Theme Parks 1
Automotive Parts and Accessories Stores 1
Beauty Salons 3
Beer, Wine, and Liquor Stores 1
Bowling Centers 1
Civic and Social Organizations 1
Computer and Software Stores 1
Construction Sand and Gravel Mining 1
Drinking Places (Alcoholic Beverages) 1
Electrical Contractors 2
Farm Supplies Merchant Wholesalers 2
Finish Carpentry Contractors 1
Food Service Contractors 1
Full-Service Restaurants 3
General Freight Trucking, Local 3
General Medical and Surgical Hospitals 1
Golf Courses and Country Clubs 1
Hardware Stores 2
Homes for the Elderly 2
Insurance Agencies and Brokerages 6
Janitorial Services 1
Landscaping Services 1
Natural Gas Distribution 1
New Car Dealers 2
Newspaper Publishers 1
Office Administrative Services 1
Office Supplies and Stationery Stores 1
Offices of Chiropractors 1
Offices of Dentists 1
Offices of Lawyers 3
Pharmacies and Drug Stores 3
Racetracks 1
Radio Stations 1
Residential Remodelers 1
Savings Institutions 1
Site Preparation Contractors 1
Solid Waste Collection 1
Tax Preparation Services 1
Wired Telecommunications Carriers 2

Have You Considered Buying an Existing Ada Business?

If you have some capital to play with, you may want to Buy a Business in Minnesota. Follow that link and you may find several good businesses for sale in Ada.

For anybody who wants to buy a business, we recommend reading this useful article: How to Buy a Business.

Don't Forget to Create a Business Plan

Writing a business plan is vital in maximizing the prospects of your new company. In effect, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan will greatly reduce your chances of business success.

To learn more about business plans, read Reasons to Write a Business Plan. You can also get free counseling sessions provided by your local SCORE chapter in Minnesota.

Raising Money for Your New Venture

Getting your Ada business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

Take advantage of our many articles on raising capital, such as Attracting Investors.

For Ada entrepreneurs in need of startup financing, check out our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.

Marketing Your New Venture

Whether your goal is to attract Ada customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your successs.

There are myriad resources on this site to help you with your marketing plan. Getting Publicity is a good read to get your marketing juices flowing. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

The Art of Selling

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Ada or are selling to customers throughout Minnesota, 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.

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

Now It's Up To You

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

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

This site is all about helping entrepreneurs in Ada and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Ada 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 Ada, Minnesota

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

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety