North Dakota Business Startup Guides
Starting a Business in Garrison, North Dakota
Thinking about starting a business in Garrison, North Dakota? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Garrison.
Are You Sure You Want to Do This?
An entrepreneurial life is hard work, much harder than working as an employee. Are you certain you are ready to take on this challenge?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Garrison. Ask them candidly what it's like to run a business.
- 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. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Garrison, North Dakota Demographic Information
Garrison has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Garrison demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Garrison.
Businesses
As a new Garrison entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Garrison 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.
Businesses
Is a Franchise Opportunity Right For You?
As you drive around Garrison, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
We advise the entrepreneurs we work with to look into purchasing a franchise. We have many articles on franchises, such as Franchise Due Diligence. 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.
Sample franchise opportunities include Planet Beach Tanning Spa and Chock Full O' Nuts. Alternatively, you can browse franchise categories, such as Gift Items Franchises and Auto Sales Franchises.
Note on Garrison Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Garrison.
Have You Considered Buying an Existing Garrison Business?
If you have some capital to play with, you may want to Buy a Business in North Dakota. Follow that link and you may find several good businesses for sale in Garrison.
If you are intent on buying a business, you may want 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.
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.
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
On a final note, given that you are planning on starting a business in Garrison, it's critical that you ensure that you will be the only North Dakota company using the business name you have chosen.
Company Formation in Garrison, North Dakota
A critical step is ensuring that you choose the right legal structure for your new entity. Doing so will shield 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.
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 North Dakota, you don't necessarily have to incorporate in North Dakota. In fact, you can incorporate in the state of your choosing. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
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 LLC Advantages. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Garrison, North Dakota, our information on Incorporating in North Dakota may be a useful resource if you decide to incorporate in North Dakota.
Increase Your Entrepreneurial Knowledge
Good entrepreneurs know that they need to continually improve.
As an entrepreneur who lives in Garrison, North Dakota, you will want to take advantage of the many programs available at nearby North Dakota universities, colleges and community colleges. We also recommend you look into networking organizations for Garrison entrepreneurs.
Next Steps
As an entrepreneur in Garrison, 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 Garrison and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Garrison 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 Garrison, North Dakota
Here are more links that we believe will help you be successful in starting a business in Garrison.
- Resources for Garrison, North Dakota Entrepreneurs - Browse a variety of resources we've collected to assist Garrison entrepreneurs.
- North Dakota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in North Dakota.
- North Dakota Small Business Development Center - The North Dakota Small Business Development Center's mission is to provide high quality business assistance in the form of counseling, training, and research to existing and prospective North Dakota small businesses.
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