January 24, 2021  
 
  Entrepreneurial Resources - Advice for Minnesota Entrepreneurs  
  Deer River, Minnesota Resources for Entrepreneurs  
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Starting a Business in Deer River, Minnesota

Thinking about starting a business in Deer River, Minnesota? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Deer River.

Are You Sure You Want to Do This?

Running your own business is demanding, much harder than working as an employee. Are you sure you want to go into business for yourself?

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 Deer River. 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.

Which Business to Choose?

There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read Free Business Ideas.

For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dry Wall Equipment & Supplies Business guide or our How to Start a Fragrances Wholesale & Manufacturers Business guide.

Remember that your new startup will be located in Deer River. If Deer River already has plenty of the kind of business you want to start, you might want to change your plans. Don't forget to review Deer River demographics to see if there's a market for what you want to sell.

Deer River, Minnesota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 249
5-9 Employees 48
10-19 Employees 45
20-49 Employees 21
50-99 Employees 0
100-249 Employees 6
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Deer River Businesses 369

As a new Deer River entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Deer River 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 2
Baked Goods Stores 1
Beer, Wine, and Liquor Stores 2
Bowling Centers 1
Business Associations 1
Casinos (except Casino Hotels) 1
Caterers 1
Child Day Care Services 2
Civic and Social Organizations 1
Commercial Screen Printing 2
Convenience Stores 1
Credit Unions 1
Drinking Places (Alcoholic Beverages) 1
Electrical Contractors 4
Engineering Services 1
Exterminating and Pest Control Services 2
Florists 1
Framing Contractors 3
Full-Service Restaurants 6
Funeral Homes and Funeral Services 1
Furniture Stores 1
General Automotive Repair 2
General Freight Trucking, Local 1
General Medical and Surgical Hospitals 1
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 1
Hardware Stores 1
Insurance Agencies and Brokerages 2
Landscaping Services 1
Logging 1
Masonry Contractors 2
Newspaper Publishers 1
Offices of Chiropractors 2
Offices of Dentists 1
Offices of Lawyers 1
Painting and Wall Covering Contractors 1
Payroll Services 1
Pharmacies and Drug Stores 1
Pipeline Transportation of Natural Gas 1
Residential Remodelers 1
Rice Milling 2
Roofing Contractors 1
Sawmills 1
School and Employee Bus Transportation 1
Siding Contractors 1
Site Preparation Contractors 3
Solid Waste Collection 1
Tradebinding and Related Work 1
Used Car Dealers 1
Wired Telecommunications Carriers 1

Picking a Company Name

A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.

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.

For other considerations regarding naming a company, we recommend this article: Naming a Company.

As a final piece of advice, remember that because you are planning on starting a business in Deer River, it's critical that you ensure that no other Minnesota company is using the business name you want to use.

Startup Financing Basics

Getting your Deer River business the capital it needs to succeed requires strong organization skills and perseverance. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Business Incubators.

For Deer River entrepreneurs who need startup capital, check out our List of Minnesota Angel Investors and our List of Minnesota Venture Capital Firms.

Marketing Your New Venture

Whether your goal is to attract Deer River customers or you plan on selling elsewhere, you need a great marketing plan.

You can learn quite a bit about marketing on our site. Introduction to Advertising is an article that will stimulate a few thoughts on your marketing plan. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Next Steps

As an entrepreneur in Deer River, you won't be working for the boss anymore. You are the boss.

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

This site is all about helping entrepreneurs in Deer River and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Deer River 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 Deer River, Minnesota

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

 

 

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