New York Business Startup Guides
Starting a Business in Hempstead, New York
Thinking about starting a business in Hempstead, New York? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Hempstead.
Do You Have What It Takes?
Running your own business is difficult, much more challenging than working as an employee. Are you sure you have the stamina and skills to succeed on your own?
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Talk to other entrepreneurs in Hempstead. Get their candid feedback on what it takes to start a successful 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. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Choosing the Right Company to Start
There are many businesses that you can start. How do you know which type of business is right for you? To stir your creative juices on what kind of business to start, take a look at How to Evaluate a Business Idea.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Opening an Auto Racing Equipment & Supplies Wholesale & Manufacturers Business guide or our Starting an Energy Conservation Products & Services Wholesale & Manufacturers Business guide.
Remember that your new business will be in Hempstead. The business you want to start may already be well-represented in Hempstead. Study Hempstead demographics and do a competitive analysis as part of your startup planning process.
Hempstead, New York Demographic Information
Hempstead has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Hempstead demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Hempstead.
Businesses
As a new Hempstead entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Hempstead 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 Franchising a Better Option?
Browse the Yellow Pages for Hempstead and it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
We highly recommend you consider franchising as an option. This site has dozens of articles on franchising, such as Franchisees Versus Licensees. Get a thorough education on franchising by browsing all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Representative franchise opportunities include P.J.'s Coffee and Cremalita. Alternatively, you can browse franchise categories, such as Retail Franchises and Frozen Yogurt Franchises.
Note on Hempstead Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Hempstead.
Picking a Business Name
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.
Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
As a final piece of advice, remember that because you are planning on starting a business in Hempstead, it's critical that you ensure that you will be the only New York company using the business name you have chosen.
Startup Financing Basics
Finding the funds to fuel the growth of your Hempstead business is very difficult due to the ongoing business credit crunch. 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 504 Loans.
For Hempstead entrepreneurs on the hunt for startup funding, you'll want to take a look at our List of New York Angel Investors and our List of New York Venture Capital Firms.
Now It's Up To You
As an entrepreneur in Hempstead, 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.
This site is all about helping entrepreneurs in Hempstead and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Hempstead, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Hempstead, New York
Here are more links that we believe will help you be successful in starting a business in Hempstead.
- Resources for Hempstead, New York Entrepreneurs - Browse a variety of resources we've collected to assist Hempstead entrepreneurs.
- New York Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New York.
- New York Small Business Development Center - The New York State Small Business Development Center delivers high quality business counseling and training to New Yorkers who want to start a business or improve the performance of an existing business.
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