Montana Business Startup Guides
Starting a Business in Big Sky, Montana
Thinking about starting a business in Big Sky, Montana? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Big Sky.
Are You Sure You Want to Do This?
Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Big Sky. 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.
Big Sky, Montana Demographic Information
Big Sky has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Big Sky demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Big Sky.
Businesses
As a new Big Sky entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Big Sky 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 Big Sky, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as Common Franchisee Mistakes. Become a franchising expert of sorts by reading more of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include HyTech Weight Loss and 5 & Diner. Alternatively, you can browse franchise categories, such as Children's Fitness Franchises and Party Supply Franchises.
Note on Big Sky Franchise Opportunities: To find out if a franchise you are interested in is available in Big Sky, you will need to get in direct contact with the franchisor.
Is Buying an Existing Big Sky Business a Good Strategy?
We've created a handy website page for those who want to Buy a Business in Montana. Follow that link and you may find several good businesses for sale in Big Sky.
Before buying a business, be sure to read this article: How to Buy a Business.
Company Formation in Big Sky, Montana
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation 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 Montana, it doesn't mean you are required to incorporate in Montana. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
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 Piercing the Corporate Veil. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Big Sky, Montana, our web page covering Incorporating in Montana may be a useful resource if you decide to incorporate in Montana.
The Role of the Business Plan
A business plan is vital in maximizing the prospects of your new company. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Expert Advice on Business Plans. You can also get free counseling sessions provided by your local SCORE chapter in Montana.
How to Sell
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Big Sky or are selling to customers throughout Montana, the United States or even the world, you have to be able to sell.
Not knowing how to sell can result in lost customers and minimal market share. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Compensating Sales People is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Next Steps
You have a dream -- starting a business in Big Sky. 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 Big Sky businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Big Sky 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 Big Sky, Montana
Here are more links that we believe will help you be successful in starting a business in Big Sky.
- Resources for Big Sky, Montana Entrepreneurs - Browse a variety of resources we've collected to assist Big Sky entrepreneurs.
- Montana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Montana.
- Montana Small Business Development Center - The Montana Small Business Development Centers focus on the creation, retention and expansion of Montana small businesses.
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