April 8, 2020  
 
  Entrepreneurial Resources - Advice for Maryland Entrepreneurs  
  Andrews Air Force Base, Maryland Resources for Entrepreneurs  
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Starting a Business in Andrews Air Force Base, Maryland

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

Are You Sure You Want to Do This?

An entrepreneurial life is hard work, much harder than working as an employee. Are you positive you are ready to take on this challenge?

Before you move forward with starting a business, be sure to do these three things:

  • Talk to other entrepreneurs in Andrews Air Force Base. Ask them candidly what it's like to run a business.
  • We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
  • Have a candid conversation with friends and family. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

What Business Are You Starting?

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 Free Business Ideas.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.

Remember that you are starting a business in Andrews Air Force Base. Some businesses will do better in Andrews Air Force Base than others. Study Andrews Air Force Base demographics and do a competitive analysis as part of your startup planning process.

As a new Andrews Air Force Base entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Andrews Air Force Base 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
Barber Shops 1
Beauty Salons 1
Computer Facilities Management Services 1
Computer Systems Design Services 7
Credit Unions 1
Custom Computer Programming Services 2
Electrical Contractors 1
Engineering Services 1
Facilities Support Services 3
Flight Training 1
Food (Health) Supplement Stores 1
Food Service Contractors 1
General Medical and Surgical Hospitals 1
Limited-Service Restaurants 1
Men's Clothing Stores 1
New Housing Operative Builders 1
Optical Goods Stores 2
Photography Studios, Portrait 1
Security Guards and Patrol Services 1
Travel Agencies 1
Used Merchandise Stores 1

Should You Franchise?

Browse the Yellow Pages for Andrews Air Force Base and it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?

Most business experts recommend that you consider franchising as an option. On our site, you can read many articles about franchising, such as Opportunities in International Franchising. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

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

Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

Note on Andrews Air Force Base Franchise Opportunities: To find out if a franchise you are interested in is available in Andrews Air Force Base, you will need to get in direct contact with the franchisor.

Have You Considered Buying an Existing Andrews Air Force Base Business?

If you have some capital to play with, you may want to Buy a Business in Maryland. Follow that link and you may find several good businesses for sale in Andrews Air Force Base.

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

Naming the Company

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.

Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.

Numerous company naming issues are discussed in more detail in this article: Naming a Company.

There's one other important factor when naming a business. Since you are opening a business in Andrews Air Force Base, it's critical that you ensure that your company name has not already been claimed by another Maryland business.

Forming a Company in Andrews Air Force Base, Maryland

It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will protect you from personal liability for business debts and obligations.

When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.

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 Maryland, it doesn't mean you are required to incorporate in Maryland. In fact, you can 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 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 How to Incorporate. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Andrews Air Force Base, Maryland, our web page covering Incorporating in Maryland may be a useful resource if you decide to incorporate in Maryland.

Do You Need a Business Plan?

Writing a business plan is vital in laying a solid foundation for your business success. In effect, a business plan is a written description of the future you envision for your business. Not having a business plan will greatly reduce your chances of business success.

To learn more about business plans, read Expert Advice on Business Plans. You should also take advantage of free business counselors available to you through your local SCORE chapter in Maryland.

Getting Money to Start a Business

Raising money to fund your new Andrews Air Force Base business 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 504 Loans.

For Andrews Air Force Base entrepreneurs in need of startup financing, check out our List of Maryland Angel Investors and our List of Maryland Venture Capital Firms.

Promoting Your New Venture

Whether your goal is to attract Andrews Air Force Base customers or you plan on selling elsewhere, you'll need to have a good marketing plan.

There are myriad resources on this site to help you with your marketing plan. Holiday-Powered Marketing is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.

Bring in Revenues

Do you know how to sell? In order to attract customers to your new Andrews Air Force Base business, you need to focus on sales.

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.

How to Build and Motivate a Sales Team is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

How to Improve Your Entrepreneurial Abilities

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

With your business being located in Andrews Air Force Base, Maryland, you should check out some of the many programs available at nearby Maryland universities, colleges and community colleges. You should also check if there are any networking organizations for Andrews Air Force Base entrepreneurs.

Next Steps

As an entrepreneur in Andrews Air Force Base, you won't be working for the boss anymore. You are the boss.

From this point on, you control your own destiny.

We are here to help Andrews Air Force Base businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Andrews Air Force Base 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 Andrews Air Force Base, Maryland

Here are more links that we believe will help you be successful in starting a business in Andrews Air Force Base.

 

 

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