June 3, 2020  
 
  Entrepreneurial Resources - Advice for Wisconsin Entrepreneurs  
  Elkhart Lake, Wisconsin Resources for Entrepreneurs  
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Opening a Business in Elkhart Lake, Wisconsin

Contemplating starting a business in Elkhart Lake, Wisconsin? We walk you through the process of opening a business in Elkhart Lake.

Elkhart Lake, Wisconsin Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 164
5-9 Employees 51
10-19 Employees 45
20-49 Employees 24
50-99 Employees 6
100-249 Employees 6
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Elkhart Lake Businesses 296

As a new Elkhart Lake entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Elkhart Lake 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
Aluminum Foundries (except Die-Casting) 1
Automobile Driving Schools 1
Beauty Salons 2
Book Stores 1
Bowling Centers 2
Cemeteries and Crematories 1
Civic and Social Organizations 1
Commercial Lithographic Printing 1
Drinking Places (Alcoholic Beverages) 3
Electric Power Distribution 1
Finish Carpentry Contractors 1
Flooring Contractors 1
Food Service Contractors 1
Framing Contractors 1
Full-Service Restaurants 7
General Automotive Repair 1
Golf Courses and Country Clubs 1
Graphic Design Services 1
Janitorial Services 1
Landscaping Services 1
Limited-Service Restaurants 2
Marinas 1
Metal Window and Door Manufacturing 1
New Car Dealers 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 1
Offices of Lawyers 1
Painting and Wall Covering Contractors 2
Racetracks 1
Residential Property Managers 1
Residential Remodelers 2
Sheet Metal Work Manufacturing 1
Site Preparation Contractors 1
Sound Recording Studios 1
Veterinary Services 1
Wholesale Trade Agents and Brokers 2

Is Buying an Existing Elkhart Lake Business a Good Strategy?

An excellent way to get started in business is to Buy a Business in Wisconsin. Follow that link and you can assess several good businesses for sale in Elkhart Lake.

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 should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.

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

There's one other important factor when naming a business. Since you are starting a business in Elkhart Lake, it's critical that you ensure that your company name has not already been claimed by another Wisconsin business.

Forming a Company in Elkhart Lake, Wisconsin

It's essential 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 select one of many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Wisconsin, it doesn't mean you are required to incorporate in Wisconsin. 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 Getting an EIN. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Elkhart Lake, Wisconsin, our web page covering Incorporating in Wisconsin may be a useful resource if you decide to incorporate in Wisconsin.

Don't Forget to Create a Business Plan

Creating a business plan is critical in maximizing the prospects of your new company. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan

If you want more information on writing business plans, we recommend reading Expert Advice on Business Plans. You should also take advantage of free business counselors available to you through your local SCORE chapter in Wisconsin.

Bring in Revenues

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

So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.

Landing Big Customers offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

How to Improve Your Entrepreneurial Abilities

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

As an entrepreneur who lives in Elkhart Lake, Wisconsin, you should check out some of the learning programs at local Wisconsin educational institutions. You should also check if there are any networking groups or organizations in which Elkhart Lake entrepreneurs get together to network and trade their business experiences.

What's Next?

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

Owning your own business will be a daunting task, but you can do it.

Our goal here is to promote the vitality and growth of small businesses in Elkhart Lake 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 Elkhart Lake, Wisconsin

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

 

 

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