August 13, 2020  
 
  Entrepreneurial Resources - Advice for Illinois Entrepreneurs  
  Canton, Illinois Resources for Entrepreneurs  
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Start a Business in Canton, Illinois

Are you starting a business in Canton, Illinois? This article discusses the most important things to consider when opening a business in Canton.

Which Business to Choose?

An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to read Good Business Ideas.

If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Food Equipment & Supplies Business guide or our How to Start a Pulmonary & Respiratory Physicians & Surgeons Business guide.

Don't forget that Canton is the place where you are starting a business. Think about what needs are currently being underserved in Canton. A critical consideration is whether Canton demographics mesh well with your startup concept.

Canton, Illinois Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 7980
5-9 Employees 3150
10-19 Employees 2226
20-49 Employees 1176
50-99 Employees 252
100-249 Employees 378
250-499 Employees 42
500-999 Employees 0
1000+ Employees 0
All Canton Businesses 15204

As a new Canton entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Canton 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
Ambulance Services 1
Amusement Arcades 1
Architectural Services 1
Automotive Glass Replacement Shops 1
Automotive Parts and Accessories Stores 5
Automotive Transmission Repair 1
Baked Goods Stores 1
Beauty Salons 5
Beer, Wine, and Liquor Stores 3
Bituminous Coal Underground Mining 1
Blood and Organ Banks 1
Boat Dealers 1
Bowling Centers 3
Business Associations 1
Car Washes 2
Cemeteries and Crematories 1
Child and Youth Services 1
Child Day Care Services 4
Civic and Social Organizations 7
Coin-Operated Laundries and Drycleaners 1
Commercial Screen Printing 1
Computer and Software Stores 3
Consumer Lending 4
Continuing Care Retirement Communities 2
Cosmetology and Barber Schools 1
Couriers 1
Credit Unions 1
Discount Department Stores 2
Drinking Places (Alcoholic Beverages) 8
Drywall and Insulation Contractors 4
Electric Power Distribution 3
Electrical Contractors 2
Emergency and Other Relief Services 1
Engineering Services 1
Exterminating and Pest Control Services 1
Family Clothing Stores 1
Finish Carpentry Contractors 1
Fitness and Recreational Sports Centers 4
Floor Covering Stores 1
Florists 2
Food Service Contractors 2
Fossil Fuel Electric Power Generation 1
Full-Service Restaurants 21
Funeral Homes and Funeral Services 3
Furniture Stores 2
General Automotive Repair 6
General Freight Trucking, Local 1
General Medical and Surgical Hospitals 1
General Rental Centers 1
Gift, Novelty, and Souvenir Stores 4
Golf Courses and Country Clubs 1
Homes for the Elderly 1
Household Appliance Stores 1
Insurance Agencies and Brokerages 10
Interior Design Services 1
Investigation Services 1
Janitorial Services 2
Jewelry Stores 1
Kidney Dialysis Centers 1
Landscaping Services 2
Limited-Service Restaurants 10
Machine Shops 1
Meat Markets 1
Motor Vehicle Towing 2
Motorcycle Dealers 1
New Car Dealers 5
Newspaper Publishers 1
Nursing Care Facilities 3
Offices of Certified Public Accountants 4
Offices of Chiropractors 3
Offices of Dentists 3
Offices of Lawyers 5
Offices of Optometrists 2
Offices of Podiatrists 1
Optical Goods Stores 1
Paint and Wallpaper Stores 1
Painting and Wall Covering Contractors 3
Passenger Car Rental 1
Pet Care (except Veterinary) Services 1
Petroleum Bulk Stations and Terminals 1
Pharmacies and Drug Stores 5
Photography Studios, Portrait 3
Professional Organizations 1
Ready-Mix Concrete Manufacturing 2
Residential Remodelers 3
Reupholstery and Furniture Repair 1
Securities Brokerage 2
Septic Tank and Related Services 1
Shoe Stores 3
Siding Contractors 1
Telemarketing Bureaus 1
Tire Dealers 1
Tobacco Stores 1
Used Car Dealers 1
Used Household and Office Goods Moving 1
Used Merchandise Stores 2
Vending Machine Operators 1
Veterinary Services 4
Video Tape and Disc Rental 1
Vocational Rehabilitation Services 4
Voluntary Health Organizations 1
Wired Telecommunications Carriers 3
Women's Clothing Stores 1

Is a Franchise Opportunity Right For You?

As you drive around Canton, you'll see that franchises make up a large percentage of local businesses. Evidently, there must be some significant advantages to purchasing a franchise.

Most business experts recommend that you consider franchising as an option. We have many articles on franchises, such as Franchise Due Diligence. 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.

Representative franchise opportunities include Baker Bros. American Deli and Melting Pot Fondue Restaurants. Alternatively, you can browse franchise categories, such as Bagel Franchises and Convenience Store Franchises.

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

Have You Considered Buying an Existing Canton Business?

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

Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.

Naming the Company

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.

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: Naming a Company.

On a final note, given that you are starting a business in Canton, it's critical that you ensure that no Illinois company has already registered the company name you have selected.

Forming a Company in Canton, Illinois

A critical step is ensuring that you form your business as a legal structure. Among other things, forming a legal entity for the business limits your liabilities.

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.

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 Illinois, you don't necessarily have to incorporate in Illinois. 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. To learn the fundamentals of company formation, browse articles on our site, such as Where to Incorporate. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Canton, Illinois, our web page covering Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.

Bring in Revenues

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

So what does it take to bring in more prospects and close more business? Let us help you refine your selling techniques through our many useful sales advice tips.

Sales Training 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.

Now It's Up To You

As an entrepreneur in Canton, 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 Canton businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Canton, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Canton, Illinois

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

 

 

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