September 30, 2020  
 
  Entrepreneurial Resources - Advice for North Dakota Entrepreneurs  
  Fordville, North Dakota Resources for Entrepreneurs  
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Opening a Business in Fordville, North Dakota

Contemplating starting a business in Fordville, North Dakota? We walk you through the process of opening a business in Fordville.

Fordville, North Dakota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 27
5-9 Employees 6
10-19 Employees 0
20-49 Employees 0
50-99 Employees 0
100-249 Employees 0
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Fordville Businesses 33

As a new Fordville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Fordville 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
Drinking Places (Alcoholic Beverages) 1
New Housing Operative Builders 1
Newspaper Publishers 1

Is a Franchise Opportunity Right For You?

Visit the business district of Fordville and it's apparent that franchising has become a very popular way to start a business. Evidently, there must be some significant advantages to purchasing a franchise.

We advise the entrepreneurs we work with to investigate buying a franchise. We have many articles on franchises, such as Opportunities in International Franchising. Get a thorough education on franchising by browsing all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Shake's Frozen Custard, Inc and Wellesley Inns & Suites Franchising, Inc.. Alternatively, you can browse franchise categories, such as Cleaning and Maintenance Franchises and Personal Services Franchises.

Note on Fordville Franchise Opportunities: To find out if a franchise you are interested in is available in Fordville, you will need to get in direct contact with the franchisor.

Naming the Company

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.

Company names need to be easy to spell, easy to pronounce, and easy to remember.

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

On a final note, given that you are starting a business in Fordville, it's critical that you ensure that no other North Dakota company is using the business name you want to use.

Forming a Company in Fordville, North Dakota

It's very important that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.

The entity you form can be 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 North Dakota, it doesn't mean you are required to incorporate in North Dakota. 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. To learn the fundamentals of company formation, browse articles on our site, such as Corporate Formalities. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Fordville, North Dakota, our information on Incorporating in North Dakota may be a useful resource if you decide to incorporate in North Dakota.

Where to Get Money to Start a Company

Getting your Fordville business the capital it needs to succeed requires strong organization skills and perseverance. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.

For Fordville entrepreneurs on the hunt for startup funding, check out our List of North Dakota Angel Investors and our List of North Dakota Venture Capital Firms.

The Art of Selling

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

Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Compensating Sales People 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.

What's Next?

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

From this point on, you control your own destiny.

This site is all about helping entrepreneurs in Fordville and elsewhere to achieve real success. 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 Fordville, North Dakota

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

 

 

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