Thinking about starting a business in Kettering, Ohio? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Kettering.
Is Becoming an Entrepreneur Right for You?
Being an entrepreneur is hard work, much more challenging than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Reach out to other entrepreneurs in Kettering. Get their take on what it's really like to be an entrepreneur.
- Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
- Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
What Business to Start
An important decision is what kind of business you want to start. We recommend that you read Good Business Ideas.
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 How to Start a Building Materials Business guide or our Starting a Foundations Contractors Residential Business guide.
Remember that your new business will be in Kettering. If Kettering already has plenty of the kind of business you want to start, you might want to change your plans. Study Kettering demographics and do a competitive analysis as part of your startup planning process.
Is Franchising a Better Option?
As you drive around Kettering, you'll see that franchises make up a large percentage of local businesses. Is franchising maybe a better way for you to start your business?
Our recommendation is that you evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as The Disadvantages of Franchise Ownership. 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.
Representative franchise opportunities include Pet Habitat and Caltex. Alternatively, you can browse franchise categories, such as Ice Cream Franchises and Pest Control Franchises.
Note on Kettering Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Kettering.
Have You Considered Buying an Existing Kettering Business?
If you have some capital to play with, you may want to Buy a Business in Ohio. Follow that link and you might discover several good businesses for sale in Kettering.
Before buying a business, be sure to read this article: Buying a Business.
Forming a Company in Kettering, Ohio
A critical step is ensuring that you form your business as a legal structure. Among other things, forming a legal entity for the business limits your liabilities.
When forming a company, you will decide among many company types, such as 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. If you are starting a business in Ohio, you don't necessarily have to incorporate in Ohio. In fact, you are allowed to 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 Nevada Incorporation. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Kettering, Ohio, our web page covering Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
Startup Financing Basics
Obtaining startup financing for your Kettering business is very difficult due to the ongoing business credit crunch. In fact, financing your new business may be the hardest challenge you ever face.
Take advantage of our many articles on raising capital, such as Getting a Small Business Loan.
For Kettering entrepreneurs who need startup capital, check out our List of Ohio Angel Investors and our List of Ohio Venture Capital Firms.
As an entrepreneur in Kettering, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
Our goal here is to promote the vitality and growth of small businesses in Kettering and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Kettering, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Kettering, Ohio
Here are more links that we believe will help you be successful in starting a business in Kettering.
- Resources for Kettering, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Kettering entrepreneurs.
- Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
- Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.