August 3, 2020  
 
  Entrepreneurial Resources - Advice for Illinois Entrepreneurs  
  Byron, Illinois Resources for Entrepreneurs  
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Open a Business in Byron, Illinois

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

Choosing the Right Company to Start

An important decision is what kind of business you want to start. 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 Opening a Helicopter Charter, Rental, & Leasing Business guide or our Starting a Sign Language & Lip Reading School guide.

Remember that you are starting a business in Byron. Some businesses will do better in Byron than others. Make sure you fully understand Byron demographics before you lock in on your business idea.

Byron, Illinois Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 1848
5-9 Employees 768
10-19 Employees 216
20-49 Employees 120
50-99 Employees 24
100-249 Employees 144
250-499 Employees 0
500-999 Employees 48
1000+ Employees 0
All Byron Businesses 3168

As a new Byron entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Byron 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
Automotive Parts and Accessories Stores 1
Beauty Salons 2
Business Associations 1
Car Washes 4
Cemeteries and Crematories 1
Civic and Social Organizations 1
Construction Sand and Gravel Mining 1
Drinking Places (Alcoholic Beverages) 2
Electrical Contractors 1
Engineering Services 1
Farm Supplies Merchant Wholesalers 1
Fine Arts Schools 1
Finish Carpentry Contractors 1
Florists 1
Framing Contractors 2
Freight Transportation Arrangement 1
Full-Service Restaurants 6
General Automotive Repair 3
General Freight Trucking, Local 1
Grantmaking Foundations 1
Hardware Stores 1
Insurance Agencies and Brokerages 6
Janitorial Services 1
Landscaping Services 1
Limited-Service Restaurants 3
Local Messengers and Local Delivery 1
Mail-Order Houses 1
Masonry Contractors 1
Museums 1
New Car Dealers 2
New Housing Operative Builders 1
Nonresidential Property Managers 1
Nuclear Electric Power Generation 1
Nursing Care Facilities 1
Offices of Bank Holding Companies 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 2
Offices of Dentists 2
Offices of Lawyers 1
Offices of Optometrists 1
Offices of Real Estate Appraisers 2
Pet Care (except Veterinary) Services 1
Pharmacies and Drug Stores 1
Racetracks 1
Ready-Mix Concrete Manufacturing 1
Residential Remodelers 1
Roofing Contractors 1
Savings Institutions 1
Securities Brokerage 1
Security Guards and Patrol Services 1
Sheet Metal Work Manufacturing 1
Sporting Goods Stores 1
Tax Preparation Services 1
Temporary Help Services 1
Title Abstract and Settlement Offices 1
Used Car Dealers 2
Veterinary Services 1
Wired Telecommunications Carriers 1

Have You Considered Franchising?

Examine a list of Byron businesses and you'll notice that many local entrepreneurs have gone the franchising route. Should you be giving franchising serious consideration?

Most business experts recommend that you evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Franchise Marketing Support. 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 Orange Julius of America and P.J.'s Coffee. Alternatively, you can browse franchise categories, such as Rental Franchises and Dating Service Franchises.

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

Have You Considered Buying an Existing Byron Business?

We've created a useful website page for those who want to Buy a Business in Illinois. Follow that link and you can assess several good businesses for sale in Byron.

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

Forming a Company in Byron, Illinois

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.

The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporation is a very common way to legally create a business entity. 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 Illinois, it doesn't mean you are required to incorporate in Illinois. In fact, you are allowed to 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 are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Avoiding Personal Liability in Business. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Byron, Illinois, our information on Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.

Do You Need a Business Plan?

Creating a business plan is vital to the health of your new business. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan

If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Illinois.

Selling Tips

Being able to sell is a key enabler to your business success. Whether you are focused on selling local customers in Byron or are selling to customers throughout Illinois, the United States or even the world, you have to be able to sell.

Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Tips on Customer Referrals is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Next Steps

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

If you choose the right business and love what you do, you will greatly increase your odds of success.

Our goal here is to promote the vitality and growth of small businesses in Byron and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.

More Entrepreneurial Resources for Starting a Business in Byron, Illinois

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

 

 

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