Louisiana Business Startup Guides
Starting a Business in Lake Charles, Louisiana
Thinking about starting a business in Lake Charles, Louisiana? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lake Charles.
Lake Charles, Louisiana Demographic Information
Lake Charles has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lake Charles demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lake Charles.
Businesses
As a new Lake Charles entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lake Charles 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
What About Franchising Opportunities?
Browse the Yellow Pages for Lake Charles 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 look into purchasing a franchise. We have many articles on franchises, such as Franchise Marketing Support. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Representative franchise opportunities include New York Burrito-Gourmet Wraps and LJ Hooker. Alternatively, you can browse franchise categories, such as Auto Parts and Tools Franchises and Landscaping Franchises.
Note on Lake Charles Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Lake Charles.
What About Buying an Existing Lake Charles Business?
An excellent way to get started in business is to Buy a Business in Louisiana. Follow that link and you may find several good businesses for sale in Lake Charles.
Before buying a business, be sure to read this article: How to Buy a Business.
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.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Naming a Company.
On a final note, given that you are opening a business in Lake Charles, it's imperative that you check now that no Louisiana company has already registered the company name you have selected.
Forming a Company in Lake Charles, Louisiana
It's essential 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.
Incorporating is a very popular way to form a business. 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 Louisiana, you don't necessarily have to incorporate in Louisiana. As it turns out, 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 Pre-Incorporation Agreements. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Lake Charles, Louisiana, our web page covering Incorporating in Louisiana may be a useful resource if you decide to incorporate in Louisiana.
The Role of the Business Plan
Writing a business plan is critical in maximizing the prospects of your new company. Indeed, a business plan is a written description of the future you envision for your business. Starting a business without a business plan will greatly reduce your chances of business success.
Before you start writing a business plan, we suggest you skim Free Business Plan Templates. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in Louisiana.
Raising Capital for Your Venture
Obtaining startup financing for your Lake Charles business is a difficult chore. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
Take advantage of our many articles on raising capital, such as 504 Loans.
For Lake Charles entrepreneurs who want to raise money for a new venture, check out our List of Louisiana Angel Investors and our List of Louisiana Venture Capital Firms.
Now It's Up To You
Most new Lake Charles businesses underestimate the number of challenges they will face.
If you choose the right business and love what you do, you will greatly increase your odds of success.
This site is all about helping entrepreneurs in Lake Charles and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Lake Charles entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Lake Charles, Louisiana
Here are more links that we believe will help you be successful in starting a business in Lake Charles.
- Resources for Lake Charles, Louisiana Entrepreneurs - Browse a variety of resources we've collected to assist Lake Charles entrepreneurs.
- Louisiana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Louisiana.
- Louisiana Small Business Development Center - The Louisiana Small Business Development Center (LSBDC Network) provides low- or no-cost guidance and training for small business owners and potential owners.
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