January 22, 2021  
 
  Entrepreneurial Resources - Advice for Minnesota Entrepreneurs  
  International Falls, Minnesota Resources for Entrepreneurs  
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Starting a Business in International Falls, Minnesota

Thinking about starting a business in International Falls, Minnesota? This step-by-step guide walks you through the major decisions you should consider before opening a new business in International Falls.

Are You Ready for Life as an Owner?

Most new companies do not succeed, in part because the entrepreneur did not have the tenacity and/or the skills to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

  • Talk to other entrepreneurs in International Falls. Listen closely to their experiences and see if you think you too can be successful.
  • 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. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.

International Falls, Minnesota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 518
5-9 Employees 225
10-19 Employees 114
20-49 Employees 60
50-99 Employees 24
100-249 Employees 9
250-499 Employees 0
500-999 Employees 3
1000+ Employees 0
All International Falls Businesses 953

As a new International Falls entrepreneur, you may also be interested in the table below. It shows how many businesses there are in International Falls 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
Automotive Parts and Accessories Stores 2
Beauty Salons 2
Beer and Ale Merchant Wholesalers 1
Beer, Wine, and Liquor Stores 3
Boat Building 1
Boat Dealers 2
Bowling Centers 1
Cable and Other Program Distribution 1
Cemeteries and Crematories 1
Charter Bus Industry 1
Child Day Care Services 2
Civic and Social Organizations 5
Coin-Operated Laundries and Drycleaners 1
Community Food Services 1
Convenience Stores 1
Convention and Visitors Bureaus 2
Couriers 2
Credit Bureaus 1
Credit Unions 1
Discount Department Stores 1
Drinking Places (Alcoholic Beverages) 4
Electrical Contractors 7
Elementary and Secondary Schools 1
Emergency and Other Relief Services 1
Engineering Services 3
Family Clothing Stores 3
Family Planning Centers 1
Finish Carpentry Contractors 1
Fitness and Recreational Sports Centers 4
Flooring Contractors 1
Florists 1
Framing Contractors 2
Freight Transportation Arrangement 1
Full-Service Restaurants 6
Funeral Homes and Funeral Services 1
Furniture Stores 1
General Automotive Repair 3
General Medical and Surgical Hospitals 1
General Rental Centers 3
Gift, Novelty, and Souvenir Stores 3
Golf Courses and Country Clubs 1
Home Centers 1
Home Health Care Services 2
Hydroelectric Power Generation 1
Insurance Agencies and Brokerages 8
Janitorial Services 4
Jewelry Stores 1
Landscaping Services 2
Limited-Service Restaurants 8
Locksmiths 1
Logging 5
Machine Shops 1
Marketing Consulting Services 1
Men's Clothing Stores 1
Museums 2
Natural Gas Distribution 1
New Car Dealers 2
Newspaper Publishers 1
Nursing Care Facilities 1
Offices of Certified Public Accountants 2
Offices of Chiropractors 5
Offices of Dentists 5
Offices of Lawyers 7
Offices of Optometrists 2
Offices of Real Estate Appraisers 1
Painting and Wall Covering Contractors 1
Paper (except Newsprint) Mills 2
Passenger Car Rental 2
Pharmacies and Drug Stores 2
Photography Studios, Portrait 1
Radio Stations 2
Recreational Goods Rental 2
Residential Remodelers 3
Roofing Contractors 1
Scheduled Passenger Air Transportation 1
Securities Brokerage 3
Security Guards and Patrol Services 1
Shoe Stores 2
Snack and Nonalcoholic Beverage Bars 1
Sporting Goods Stores 3
Tax Preparation Services 1
Taxi Service 1
Temporary Help Services 1
Temporary Shelters 1
Tire Dealers 1
Used Merchandise Stores 1
Veterinary Services 1
Video Tape and Disc Rental 2
Vocational Rehabilitation Services 2
Wholesale Trade Agents and Brokers 1
Wired Telecommunications Carriers 1
Women's Clothing Stores 1
Wood Container and Pallet Manufacturing 1

What About Franchising Opportunities?

Examine a list of International Falls businesses and you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?

Our recommendation is that you consider franchising as an option. On our site, you can read many articles about franchising, such as Franchise Law. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

A comprehensive list of franchisors is available via our List of Franchise Opportunities.

Sample franchise opportunities include Amerihost Franchise Systems and IDENT-A-Kid Services of America, Inc.. Alternatively, you can browse franchise categories, such as Rental Franchises and Dating Service Franchises.

Note on International Falls Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in International Falls.

Naming the Business

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 Business.

On a final note, given that you are planning on starting a business in International Falls, it's imperative that you check now that no Minnesota company has already registered the company name you have selected.

Forming a Company in International Falls, Minnesota

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.

When forming a company, you will pick from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporation is a very common way to legally create a business entity. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Minnesota, you don't necessarily have to incorporate in Minnesota. 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 are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Dissolving a Corporation. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in International Falls, Minnesota, our web page covering Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.

Do You Need a Business Plan?

Creating a business plan is essential in maximizing the prospects of your new company. In effect, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan

To learn more about business plans, read Business Plan Software. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in Minnesota.

Never Give Up

Most new International Falls businesses underestimate the number of challenges they will face.

From this point on, you control your own destiny.

We are here to help International Falls businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in International Falls, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in International Falls, Minnesota

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

 

 

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