Colorado Business Startup Guides
Starting a Business in Lafayette, Colorado
Thinking about starting a business in Lafayette, Colorado? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lafayette.
Do You Have What It Takes?
Before you get too far along in the process, consider your entrepreneurial instincts and capabilities.
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 Lafayette. Get their candid feedback on what it takes to start a successful business.
- 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. 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 help you decide on a business type, we encourage you to read Good Business Ideas.
To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our Starting an Unfinished Furniture Business guide or our How to Start a Weed Control Services Business guide.
Remember that you are starting a business in Lafayette. The business you want to start may already be well-represented in Lafayette. Make sure you fully understand Lafayette demographics before you lock in on your business idea.
Lafayette, Colorado Demographic Information
Lafayette has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lafayette demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lafayette.
Businesses
As a new Lafayette entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lafayette 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
Have You Considered Franchising?
As you drive around Lafayette, you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. So, it probably makes sense for you to consider franchising too.
Most business experts recommend that you evaluate the possibility of your buying a franchise opportunity. On our site, you can read many articles about franchising, such as Buying a Franchise. Get a thorough education on franchising by browsing all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include Paradise Bakery and Cafe Franchises and Canine Campus. Alternatively, you can browse franchise categories, such as Golf Franchises and Landscaping Franchises.
Note on Lafayette Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Lafayette.
Raising Money for Your New Venture
Obtaining startup financing for your Lafayette business requires strong organization skills and perseverance. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Business Cash Advances.
For Lafayette entrepreneurs on the hunt for startup funding, check out our List of Colorado Angel Investors and our List of Colorado Venture Capital Firms.
The Art of Selling
Being able to sell is essential to your business success. Whether you are focused on selling local customers in Lafayette or are selling to customers throughout Colorado, the United States or even the world, you have to be able to sell.
So what does it take to bring in more prospects and close more business? Let us help you refine your selling techniques through our many useful sales advice tips.
Anticipating Prospect Responses offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Now It's Up To You
You have a dream -- starting a business in Lafayette. 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 Lafayette and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Lafayette, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lafayette, Colorado
Here are more links that we believe will help you be successful in starting a business in Lafayette.
- Resources for Lafayette, Colorado Entrepreneurs - Browse a variety of resources we've collected to assist Lafayette entrepreneurs.
- Colorado Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Colorado.
- Colorado Small Business Development Center - The Colorado Small Business Development Center (SBDC) Network is dedicated to helping small businesses throughout Colorado achieve their goals by providing free confidential counseling and various training programs.
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