New Mexico Business Startup Guides
Opening a Business in Clovis, New Mexico
Contemplating starting a business in Clovis, New Mexico? We walk you through the process of opening a business in Clovis.
Will You Be a Good Entrepreneur?
Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.
With so much at stake when you start a business, we strongly recommend you do the following before you proceed:
- Reach out to other entrepreneurs in Clovis. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
- Seek the advice of somebody who knows you well. Others sometimes know you better than you know yourself.
Clovis, New Mexico Demographic Information
Clovis has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Clovis demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Clovis.
Businesses
As a new Clovis entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Clovis 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
What About Franchising Opportunities?
Examine a list of Clovis businesses and you'll notice that many local entrepreneurs have gone the franchising route. Is franchising maybe a better way for you to start your business?
We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as Growth Trends in Franchising. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include Winfree Systems, Inc. and Great Clips, Inc.. Alternatively, you can browse franchise categories, such as Healthcare Franchises and Miscellaneous Franchises.
Note on Clovis Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Clovis.
Is Buying an Existing Clovis Business a Good Strategy?
We've created a helpful website page for those who want to Buy a Business in New Mexico. Follow that link and you may find several good businesses for sale in Clovis.
For anybody who wants to buy a business, we recommend reading this useful article: Buying a Business.
Company Formation in Clovis, New Mexico
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating 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. Just because you are starting a business in New Mexico, you don't necessarily have to incorporate in New Mexico. 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'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 Getting an EIN. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Clovis, New Mexico, our information on Incorporating in New Mexico may be a useful resource if you decide to incorporate in New Mexico.
Raising Capital for Your Venture
Getting your Clovis business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
Take advantage of our many articles on securing funding, such as 504 Loans.
For Clovis entrepreneurs on the hunt for startup funding, check out our List of New Mexico Angel Investors and our List of New Mexico Venture Capital Firms.
Learning More About Entrepreneurship
The best business owners know that what they know now may not be enough to ensure their future success.
Given that you are starting a business in Clovis, New Mexico, you will want to take advantage of the learning programs at local New Mexico educational institutions. It's also worthwhile to see if there are any Clovis networking organizations.
What's Next?
You have a dream -- starting a business in Clovis. 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.
We are here to help Clovis businesses to be successful. 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 Clovis, New Mexico
Here are more links that we believe will help you be successful in starting a business in Clovis.
- Resources for Clovis, New Mexico Entrepreneurs - Browse a variety of resources we've collected to assist Clovis entrepreneurs.
- New Mexico Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New Mexico.
- New Mexico Small Business Development Center - New Mexico Small Business Development Centers provide quality direct assistance, entrepreneurial education and resource links for potential and existing small businesses to strengthen the economy of New Mexico.
More Startup Articles for New Mexico Cities
Starting a Business in Cloudcroft
Starting a Business in Deming
Browse All Business Startup Guides for New Mexico
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs