July 28, 2020  
 
  Entrepreneurial Resources - Advice for Washington Entrepreneurs  
  Federal Way, Washington Resources for Entrepreneurs  
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Open a Business in Federal Way, Washington

Need help starting a business in Federal Way, Washington? We've got the information you need to open a business in Federal Way.

Federal Way, Washington Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 3287
5-9 Employees 1269
10-19 Employees 759
20-49 Employees 498
50-99 Employees 165
100-249 Employees 81
250-499 Employees 18
500-999 Employees 3
1000+ Employees 3
All Federal Way Businesses 6083

As a new Federal Way entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Federal Way 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 3
Amusement and Theme Parks 1
Amusement Arcades 1
Appliance Repair and Maintenance 1
Architectural Services 1
Art Dealers 1
Automobile Driving Schools 1
Automotive Exhaust System Repair 3
Automotive Glass Replacement Shops 3
Automotive Parts and Accessories Stores 16
Baked Goods Stores 4
Barber Shops 1
Beauty Salons 31
Beer, Wine, and Liquor Stores 2
Book Stores 5
Bowling Centers 1
Business Associations 5
Cafeterias 2
Camera and Photographic Supplies Stores 2
Car Washes 6
Carpet and Upholstery Cleaning Services 8
Casinos (except Casino Hotels) 1
Caterers 3
Cemeteries and Crematories 1
Child and Youth Services 3
Child Day Care Services 29
Children's and Infants' Clothing Stores 2
Civic and Social Organizations 2
Clothing Accessories Stores 4
Collection Agencies 4
Commercial Bakeries 1
Commercial Lithographic Printing 3
Computer and Software Stores 8
Computer Systems Design Services 9
Consumer Lending 5
Convenience Stores 4
Convention and Trade Show Organizers 2
Cosmetology and Barber Schools 1
Court Reporting and Stenotype Services 1
Credit Unions 5
Custom Computer Programming Services 4
Dance Companies 1
Dental Laboratories 6
Diagnostic Imaging Centers 8
Diet and Weight Reducing Centers 4
Direct Life Insurance Carriers 2
Direct Title Insurance Carriers 6
Directory and Mailing List Publishers 1
Discount Department Stores 2
Drinking Places (Alcoholic Beverages) 9
Drywall and Insulation Contractors 8
Educational Support Services 1
Electrical Contractors 12
Electronic Shopping 1
Elementary and Secondary Schools 1
Employment Placement Agencies 1
Engineering Services 16
Environmental Consulting Services 1
Exam Preparation and Tutoring 6
Family Clothing Stores 6
Family Planning Centers 1
Fine Arts Schools 3
Finfish Fishing 1
Finish Carpentry Contractors 6
Fish and Seafood Merchant Wholesalers 2
Fitness and Recreational Sports Centers 10
Floor Covering Stores 3
Flooring Contractors 4
Florists 4
Food (Health) Supplement Stores 3
Food Service Contractors 2
Formal Wear and Costume Rental 1
Framing Contractors 3
Freight Transportation Arrangement 8
Fresh and Frozen Seafood Processing 1
Fruit and Vegetable Canning 1
Fruit and Vegetable Markets 1
Full-Service Restaurants 54
Furniture Merchant Wholesalers 2
Furniture Stores 2
General Automotive Repair 15
General Freight Trucking, Local 6
General Medical and Surgical Hospitals 1
General Rental Centers 1
Gift, Novelty, and Souvenir Stores 8
Glass and Glazing Contractors 1
Golf Courses and Country Clubs 1
Graphic Design Services 1
Hardware Merchant Wholesalers 2
Hardware Stores 1
HMO Medical Centers 1
Hobby, Toy, and Game Stores 5
Home Centers 3
Home Furnishing Merchant Wholesalers 1
Home Health Care Services 6
Homes for the Elderly 13
Household Appliance Stores 1
Industrial Sand Mining 1
Insurance Agencies and Brokerages 53
Interior Design Services 1
Investment Advice 8
Janitorial Services 28
Jewelry Stores 9
Kidney Dialysis Centers 1
Land Subdivision 1
Landscaping Services 12
Lessors of Other Real Estate Property 6
Limited-Service Restaurants 79
Local Messengers and Local Delivery 1
Locksmiths 1
Machine Shops 1
Mail-Order Houses 1
Marketing Consulting Services 3
Masonry Contractors 5
Meat Markets 2
Meat Processed from Carcasses 1
Medical Laboratories 1
Men's Clothing Stores 3
Mobile Food Services 3
Mortgage and Nonmortgage Loan Brokers 5
Motion Picture and Video Production 2
Motor Vehicle Towing 4
Motorcycle Dealers 1
Museums 1
Musical Groups and Artists 1
Musical Instrument and Supplies Stores 2
Nail Salons 2
New Car Dealers 2
New Housing Operative Builders 3
News Syndicates 1
Newspaper Publishers 4
Nonresidential Property Managers 3
Nursing Care Facilities 7
Office Administrative Services 4
Office Supplies and Stationery Stores 4
Offices of Certified Public Accountants 17
Offices of Chiropractors 24
Offices of Dentists 77
Offices of Lawyers 34
Offices of Optometrists 11
Offices of Podiatrists 4
Offices of Real Estate Appraisers 12
Optical Goods Stores 6
Outdoor Power Equipment Stores 1
Paint and Wallpaper Stores 1
Painting and Wall Covering Contractors 17
Passenger Car Rental 3
Periodical Publishers 2
Pet and Pet Supplies Stores 3
Pet Care (except Veterinary) Services 3
Pharmacies and Drug Stores 9
Photography Studios, Portrait 5
Political Organizations 1
Private Mail Centers 3
Professional Employer Organizations 1
Professional Organizations 2
Quick Printing 1
Radio Stations 1
Real Estate Credit 27
Real Estate Investment Trusts 1
Recreational Vehicle Dealers 1
Repossession Services 1
Residential Property Managers 19
Residential Remodelers 24
Retail Bakeries 1
Reupholstery and Furniture Repair 1
Roofing Contractors 7
Sales Financing 3
Savings Institutions 8
Securities Brokerage 15
Security Guards and Patrol Services 4
Septic Tank and Related Services 1
Shoe Stores 10
Siding Contractors 9
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 26
Sound Recording Studios 1
Sporting Goods Stores 10
Sports and Recreation Instruction 5
Tax Preparation Services 10
Telemarketing Bureaus 3
Television Broadcasting 1
Temporary Help Services 8
Testing Laboratories 2
Tile and Terrazzo Contractors 4
Tire Dealers 5
Title Abstract and Settlement Offices 1
Tobacco Stores 3
Travel Agencies 8
Used Household and Office Goods Moving 1
Used Merchandise Stores 4
Vending Machine Operators 3
Veterinary Services 11
Video Tape and Disc Rental 8
Vocational Rehabilitation Services 6
Warehouse Clubs and Supercenters 2
Wholesale Trade Agents and Brokers 13
Window Treatment Stores 1
Wired Telecommunications Carriers 5
Women's Clothing Stores 5
Zoos and Botanical Gardens 2

Have You Considered Buying an Existing Federal Way Business?

We've created a helpful website page for those who want to Buy a Business in Washington. Follow that link and you might discover several good businesses for sale in Federal Way.

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

Choosing a Company Name

A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.

Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?

For other considerations regarding naming a company, we recommend this article: Branding Advice.

On a final note, given that you are opening a business in Federal Way, it's very important that you make sure your company name has not already been claimed by another Washington business.

Company Formation in Federal Way, Washington

It's essential that your business is formed as a legal entity that is separate from its owners. The main advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.

When forming a company, you will decide among many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.

Incorporating 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. Just because you are starting a business in Washington, you don't necessarily have to incorporate in Washington. In fact, you can incorporate in the state of your choosing. 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 Registered Agents. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Federal Way, Washington, our web page covering Incorporating in Washington may be a useful resource if you decide to incorporate in Washington.

Do You Need a Business Plan?

A business plan is vital in laying a solid foundation for your business success. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Not having a business plan is a recipe for disaster.

Before you start writing a business plan, we suggest you skim Business Plan Mistakes. You can also get free counseling sessions provided by your local SCORE chapter in Washington.

Advancing Your Entrepreneurial Skills

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

As an entrepreneur who lives in Federal Way, Washington, you should get information on some of the learning programs at local Washington educational institutions. You should also check if there are any networking organizations for Federal Way entrepreneurs.

Next Steps

You have a dream -- starting a business in Federal Way. 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.

Our goal here is to promote the vitality and growth of small businesses in Federal Way and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Federal Way 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 Federal Way, Washington

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

 

 

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