June 1, 2020  
 
  Entrepreneurial Resources - Advice for Wisconsin Entrepreneurs  
  Ladysmith, Wisconsin Resources for Entrepreneurs  
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Start a Business in Ladysmith, Wisconsin

Are you starting a business in Ladysmith, Wisconsin? This article discusses the most important things to consider when opening a business in Ladysmith.

Are You Sure You Want to Do This?

Most startup businesses fail, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, consider all of the implications of being an entrepreneur.

Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:

  • Talk to other entrepreneurs in Ladysmith. Ask them candidly what it's like to run a business.
  • We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
  • Get feedback from somebody whom you trust. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Ladysmith, Wisconsin Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 320
5-9 Employees 114
10-19 Employees 84
20-49 Employees 42
50-99 Employees 18
100-249 Employees 21
250-499 Employees 0
500-999 Employees 3
1000+ Employees 0
All Ladysmith Businesses 602

As a new Ladysmith entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ladysmith 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 Glass Replacement Shops 1
Automotive Parts and Accessories Stores 3
Beauty Salons 4
Beer and Ale Merchant Wholesalers 1
Books Printing 1
Bowling Centers 1
Business Associations 1
Cable and Other Program Distribution 1
Child and Youth Services 1
Child Day Care Services 6
Coin-Operated Laundries and Drycleaners 1
Commercial Gravure Printing 1
Commercial Screen Printing 1
Confectionery Merchant Wholesalers 1
Credit Unions 1
Drinking Places (Alcoholic Beverages) 3
Electric Power Distribution 2
Electrical Contractors 1
Engineering Services 1
Environmental Consulting Services 1
Farm Supplies Merchant Wholesalers 1
Finish Carpentry Contractors 1
Fitness and Recreational Sports Centers 1
Flooring Contractors 1
Florists 1
Full-Service Restaurants 5
Funeral Homes and Funeral Services 1
General Automotive Repair 2
General Medical and Surgical Hospitals 1
General Rental Centers 1
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 1
Hardware Stores 1
Heating Oil Dealers 1
Home Health Care Services 1
Homes for the Elderly 1
Hydroelectric Power Generation 1
Insurance Agencies and Brokerages 4
Landscaping Services 2
Limited-Service Restaurants 9
Logging 5
Machine Shops 1
Manufactured (Mobile) Home Dealers 1
Mineral Wool Manufacturing 2
New Car Dealers 2
Newspaper Publishers 1
Nursing Care Facilities 1
Offices of Certified Public Accountants 2
Offices of Chiropractors 3
Offices of Dentists 2
Offices of Lawyers 4
Offices of Optometrists 2
One-Hour Photofinishing 1
Paper (except Newsprint) Mills 1
Pharmacies and Drug Stores 2
Radio Stations 1
Real Estate Credit 1
Residential Property Managers 1
Savings Institutions 1
School and Employee Bus Transportation 5
Site Preparation Contractors 2
Solid Waste Collection 1
Tax Preparation Services 1
Temporary Help Services 1
Temporary Shelters 1
Tire Dealers 1
Title Abstract and Settlement Offices 1
Used Car Dealers 1
Veterinary Services 2
Video Tape and Disc Rental 1
Women's Clothing Stores 1
Wood Window and Door Manufacturing 2

Is a Franchise Opportunity Right For You?

As you drive around Ladysmith, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. But is franchising the right option for you?

We advise the entrepreneurs we work with to evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Franchising My Business. 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 The Herb Stop and The New York Butcher Shoppe. Alternatively, you can browse franchise categories, such as Construction Franchises and Home Services Franchises.

Note on Ladysmith Franchise Opportunities: To find out if a franchise you are interested in is available in Ladysmith, you will need to get in direct contact with the franchisor.

What About Buying an Existing Ladysmith Business?

If you have some capital to play with, you may want to Buy a Business in Wisconsin. Follow that link and you may find several good businesses for sale in Ladysmith.

Before buying a business, be sure to read this article: Buying a Business.

Forming a Company in Ladysmith, Wisconsin

It's essential that you are forming a legal entity that operates independently from you. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.

The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporation 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 Wisconsin, it doesn't mean you are required to incorporate in Wisconsin. As it turns out, you are allowed to incorporate in any state you would like to. 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 Registered Agents. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Ladysmith, Wisconsin, our information on Incorporating in Wisconsin may be a useful resource if you decide to incorporate in Wisconsin.

Where to Get Money to Start a Company

Getting your Ladysmith business the capital it needs to succeed is not an easy task. In fact, financing your new business may be the hardest challenge you ever face.

Take advantage of our many articles on securing funding, such as Find Start-Up Capital.

For Ladysmith entrepreneurs who want to raise money for a new venture, browse our List of Wisconsin Angel Investors and our List of Wisconsin Venture Capital Firms.

How to Sell

Mastering the art of selling is priority one if you want your new Ladysmith business to do well.

Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.

Tips on Customer Referrals is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Next Steps

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

Owning your own business will be a daunting task, but you can do it.

Our goal here is to promote the vitality and growth of small businesses in Ladysmith and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.

More Entrepreneurial Resources for Starting a Business in Ladysmith, Wisconsin

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

 

 

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