June 5, 2020  
 
  Entrepreneurial Resources - Advice for Wisconsin Entrepreneurs  
  Algoma, Wisconsin Resources for Entrepreneurs  
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Open a Business in Algoma, Wisconsin

Need help starting a business in Algoma, Wisconsin? We've got the information you need to open a business in Algoma.

Algoma, Wisconsin Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 348
5-9 Employees 258
10-19 Employees 114
20-49 Employees 60
50-99 Employees 0
100-249 Employees 12
250-499 Employees 12
500-999 Employees 0
1000+ Employees 0
All Algoma Businesses 804

As a new Algoma entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Algoma 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
Art Dealers 1
Automotive Parts and Accessories Stores 2
Beauty Salons 1
Book Publishers 1
Bowling Centers 1
Business Associations 1
Cemeteries and Crematories 1
Cheese Manufacturing 1
Child Day Care Services 1
Commercial Bakeries 1
Commercial Flexographic Printing 1
Commercial Lithographic Printing 2
Commercial Screen Printing 1
Computer and Software Stores 2
Computer Systems Design Services 1
Credit Unions 1
Cut Stock, Resawing Lumber, and Planing 1
Display Advertising 1
Drinking Places (Alcoholic Beverages) 1
Electrical Contractors 2
Elementary and Secondary Schools 1
Fish and Seafood Markets 1
Flooring Contractors 1
Fruit and Vegetable Markets 1
Full-Service Restaurants 11
General Automotive Repair 2
Hardware Stores 2
Homes for the Elderly 1
Household Appliance Stores 1
Insurance Agencies and Brokerages 2
Landscaping Services 1
Limited-Service Restaurants 1
Logging 1
Masonry Contractors 1
Metal Household Furniture Manufacturing 1
New Car Dealers 1
Nitrogenous Fertilizer Manufacturing 1
Offices of Certified Public Accountants 3
Offices of Chiropractors 1
Offices of Dentists 3
Offices of Lawyers 2
Offices of Optometrists 1
Painting and Wall Covering Contractors 4
Pharmacies and Drug Stores 1
Photography Studios, Portrait 1
Ready-Mix Concrete Manufacturing 1
Savings Institutions 1
Sawmills 1
Securities Brokerage 1
Siding Contractors 2
Sporting Goods Stores 1
Used Merchandise Stores 1
Video Tape and Disc Rental 1
Vocational Rehabilitation Services 1
Wineries 1
Wood Window and Door Manufacturing 1

Is a Franchise Opportunity Right For You?

As you drive around Algoma, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. But is franchising the right option for you?

Our advice is to consider franchising as an option. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Franchising and Veterans. Become a franchising expert of sorts by reading more of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Tile Outlet Always in Stock and Pizza Delight. Alternatively, you can browse franchise categories, such as Sports Restaurant Franchises and Auto Rental Franchises.

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

Have You Considered Buying an Existing Algoma Business?

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

If you are serious about buying a business, you may want to read this article: Buying a Business.

Picking a Company 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 need to be easy to spell, easy to pronounce, and easy to remember.

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

On a final note, given that you are starting a business in Algoma, it's imperative that you check now that no other Wisconsin company is using the business name you want to use.

Forming a Company in Algoma, Wisconsin

It's essential that you are forming a legal entity that operates independently from you. Among other things, forming a legal entity for the business limits your liabilities.

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. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Wisconsin, you don't necessarily have to incorporate in Wisconsin. In fact, you can 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 Why Incorporate in Delaware. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Algoma, Wisconsin, our information on Incorporating in Wisconsin may be a useful resource if you decide to incorporate in Wisconsin.

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. Starting a business without a business plan is a recipe for disaster.

To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Wisconsin.

Learning More About Entrepreneurship

Successful entrepreneurs recognize that they need to continually improve.

Given that you are starting a business in Algoma, Wisconsin, you will want to take advantage of the learning programs at local Wisconsin educational institutions. It's also beneficial to see if there are any networking organizations for Algoma entrepreneurs.

Next Steps

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

From this point on, you control your own destiny.

We are here to help Algoma businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Algoma 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 Algoma, Wisconsin

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

 

 

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