January 16, 2021  
 
  Entrepreneurial Resources - Advice for Washington Entrepreneurs  
  Eastsound, Washington Resources for Entrepreneurs  
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Starting a Business in Eastsound, Washington

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

Is Becoming an Entrepreneur Right for You?

Most new companies do not succeed, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.

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 Eastsound. Get their take on what it's really like to be an entrepreneur.
  • We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
  • Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.

What Business Are You Starting?

Choosing a business that is right for you is very important. To help you decide on a business type, we encourage you to read Good Business Ideas.

To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.

Always keep in mind that you are starting a business in Eastsound. The business you want to start may already be well-represented in Eastsound. Only by spending some time analyzing Eastsound demographics can you decide if there will be strong demand for your business idea.

As a new Eastsound entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Eastsound 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
Advertising Agencies 1
Architectural Services 2
Automotive Parts and Accessories Stores 1
Beauty Salons 1
Bed-and-Breakfast Inns 3
Beer, Wine, and Liquor Stores 1
Book Stores 1
Business Associations 1
Carpet and Upholstery Cleaning Services 1
Child and Youth Services 1
Child Day Care Services 4
Children's and Infants' Clothing Stores 1
Civic and Social Organizations 1
Computer Systems Design Services 1
Convenience Stores 1
Couriers 2
Custom Computer Programming Services 1
Drywall and Insulation Contractors 3
Electric Power Distribution 1
Electrical Contractors 6
Elementary and Secondary Schools 1
Engineering Services 2
Family Clothing Stores 1
Finish Carpentry Contractors 3
Fish and Seafood Merchant Wholesalers 1
Flight Training 1
Floor Covering Stores 1
Flooring Contractors 1
Florists 1
Framing Contractors 2
Full-Service Restaurants 12
General Automotive Repair 1
General Freight Trucking, Local 1
General Warehousing and Storage 1
Gift, Novelty, and Souvenir Stores 2
Golf Courses and Country Clubs 2
Hardware Stores 1
Hobby, Toy, and Game Stores 1
Insurance Agencies and Brokerages 3
Investment Advice 1
Janitorial Services 2
Land Subdivision 3
Landscaping Services 5
Limited-Service Restaurants 2
Logging 2
Mail-Order Houses 1
Marinas 1
Masonry Contractors 1
Motion Picture and Video Production 3
Museums 3
Newspaper Publishers 1
Nonresidential Property Managers 1
Office Administrative Services 2
Offices of Chiropractors 3
Offices of Dentists 3
Offices of Lawyers 1
Offices of Optometrists 1
Offices of Real Estate Appraisers 1
One-Hour Photofinishing 1
Outdoor Power Equipment Stores 1
Painting and Wall Covering Contractors 4
Pet Care (except Veterinary) Services 1
Pharmacies and Drug Stores 1
Private Mail Centers 1
Ready-Mix Concrete Manufacturing 1
Recreational Goods Rental 1
Residential Property Managers 1
Residential Remodelers 5
Retail Bakeries 1
Savings Institutions 1
Sawmills 1
Septic Tank and Related Services 1
Sewage Treatment Facilities 1
Shellfish Fishing 2
Siding Contractors 1
Site Preparation Contractors 6
Software Publishers 1
Solid Waste Collection 1
Sound Recording Studios 1
Sporting Goods Stores 2
Sports and Recreation Instruction 1
Testing Laboratories 1
Tile and Terrazzo Contractors 1
Tire Dealers 1
Title Abstract and Settlement Offices 1
Veterinary Services 1
Water Supply and Irrigation Systems 1
Wired Telecommunications Carriers 1

What About Franchising Opportunities?

As you drive around Eastsound, you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?

Most business experts recommend that you investigate buying a franchise. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Benefits of Owning A Franchise. 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 Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

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

Have You Considered Buying an Existing Eastsound Business?

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

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

Naming the Company

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.

Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Business.

There's one other important factor when naming a business. Since you are planning on starting a business in Eastsound, it's imperative that you check now that no other Washington company is using the business name you want to use.

Forming a Company in Eastsound, Washington

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will separate 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 popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Washington, you don't necessarily have to incorporate in Washington. 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Offshore Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Eastsound, Washington, our information on Incorporating in Washington may be a useful resource if you decide to incorporate in Washington.

The Role of the Business Plan

A business plan is essential to the health of your new business. In effect, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.

If you want more information on writing business plans, we recommend reading Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Washington.

Raising Money for Your Venture

Getting your Eastsound business the capital it needs to succeed will be harder than you might expect. 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 Getting a Small Business Loan.

For Eastsound entrepreneurs in need of startup financing, browse our List of Washington Angel Investors and our List of Washington Venture Capital Firms.

Letting the World Know You Exist

To grow your Eastsound business, you'll need to have a good marketing plan.

There are myriad resources on this site to help you with your marketing plan. How to Market to Accountants and CPAs discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just one of the many useful articles we have on Marketing a Small Business.

Ramping Up Sales

Mastering the art of selling is a must if you want your new Eastsound business to do well.

Why should customers buy from you instead of buying from competitors? The good news is we can help you to make selling a big competitve advantage for your new firm.

Sales Prospecting 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.

Increase Your Entrepreneurial Knowledge

The best business owners recognize that they need to continually improve.

As an entrepreneur who lives in Eastsound, Washington, you will want to take advantage of the many programs available at nearby Washington universities, colleges and community colleges. It's also worthwhile to see if there are any Eastsound networking organizations.

Moving Forward

Most new Eastsound businesses underestimate the number of challenges they will face.

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

We are here to help Eastsound businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Eastsound, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Eastsound, Washington

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

 

 

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