New Mexico Business Startup Guides
Starting a Business in Hobbs, New Mexico
Thinking about starting a business in Hobbs, New Mexico? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Hobbs.
What Business Are You Starting?
An important decision is what kind of business you want to start. We recommend that you read Free Business Ideas.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Ceramics School guide or our How to Start a Shower Doors & Enclosures Wholesale & Manufacturers Business guide.
Remember that you are starting a business in Hobbs. Some businesses will do better in Hobbs than others. Don't forget to review Hobbs demographics to see if there's a market for what you want to sell.
Hobbs, New Mexico Demographic Information
Hobbs has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Hobbs demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Hobbs.
As a new Hobbs entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Hobbs 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.
Should You Franchise?
Visit the business district of Hobbs and you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as Franchising Pros and Cons. 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 Global Pet Foods and Breeze Freeze Frozen Beverage Franchise. Alternatively, you can browse franchise categories, such as Home Inspection Franchises and Print and Sign Franchises.
Note on Hobbs Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Hobbs.
Naming the Company
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
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.
There's one other important factor when naming a business. Since you are starting a business in Hobbs, it's very important that you make sure no other New Mexico company is using the business name you want to use.
The Role of the Business Plan
Having a business plan is vital to the health of your new business. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan makes you more prone to becoming a business failure statistic.
Improving Your Entrepreneurial Skillset
Good entrepreneurs recognize that they need to continually improve.
Given that you are starting a business in Hobbs, New Mexico, you will want to take advantage of the many programs available at nearby New Mexico universities, colleges and community colleges. It's also worthwhile to see if there are any Hobbs networking organizations.
You have a dream -- starting a business in Hobbs. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Hobbs and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Hobbs, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Hobbs, New Mexico
Here are more links that we believe will help you be successful in starting a business in Hobbs.
- Resources for Hobbs, New Mexico Entrepreneurs - Browse a variety of resources we've collected to assist Hobbs entrepreneurs.
- New Mexico Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in New Mexico.
- New Mexico Small Business Development Center - New Mexico Small Business Development Centers provide quality direct assistance, entrepreneurial education and resource links for potential and existing small businesses to strengthen the economy of New Mexico.
Starting-a-Business Guides for Other Cities in New Mexico
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