Pennsylvania Business Startup Guides
Open a Business in Altoona, Pennsylvania
Need help starting a business in Altoona, Pennsylvania? We've got the information you need to open a business in Altoona.
Will You Be a Good Entrepreneur?
Before announcing to the world that you are going to start your own business, take inventory of your entrepreneurial instincts and capabilities.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Talk to other entrepreneurs in Altoona. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. Others sometimes know you better than you know yourself.
Altoona, Pennsylvania Demographic Information
Altoona has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Altoona demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Altoona.
Businesses
As a new Altoona entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Altoona 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.
Businesses
Is Franchising a Better Option?
As you drive around Altoona, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Most business experts recommend that you investigate buying a franchise. On our site, you can read many articles about franchising, such as Franchising Mistakes. 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 Cartridge World and IM=X Pilates Studio. Alternatively, you can browse franchise categories, such as Retail Franchises and Frozen Yogurt Franchises.
Note on Altoona Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Altoona.
Choosing a Business Name
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.
There's one other important factor when naming a business. Since you are planning on starting a business in Altoona, it's very important that you make sure no other Pennsylvania company is using the business name you want to use.
Company Formation in Altoona, Pennsylvania
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. The principal advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
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 Pennsylvania, you don't necessarily have to incorporate in Pennsylvania. In fact, you are allowed to incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Nevada Incorporation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Altoona, Pennsylvania, our information on Incorporating in Pennsylvania may be a useful resource if you decide to incorporate in Pennsylvania.
The Role of the Business Plan
A business plan is vital in maximizing the prospects of your new company. Indeed, 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 you want more information on writing business plans, we recommend reading Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in Pennsylvania.
Letting the World Know You Exist
Whether your goal is to attract Altoona customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your succeeding.
You can learn quite a bit about marketing on our site. Billboard Advertising Costs is a good read to get your marketing ideas flowing. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
What's Next?
You have a dream -- starting a business in Altoona. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
We are here to help Altoona businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Altoona, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Altoona, Pennsylvania
Here are more links that we believe will help you be successful in starting a business in Altoona.
- Resources for Altoona, Pennsylvania Entrepreneurs - Browse a variety of resources we've collected to assist Altoona entrepreneurs.
- Pennsylvania Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Pennsylvania.
- Pennsylvania Small Business Development Center - Pennsylvania SBDCs help aspiring entrepreneurs turn ideas into businesses, help small firms expand, and provide the information every business person needs to make critical decisions. There is no charge for their assistance and their free help can make the difference between business success and failure.
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