Ohio Business Startup Guides
Open a Business in Lima, Ohio
Need help starting a business in Lima, Ohio? We've got the information you need to open a business in Lima.
What Business to Start
Choosing a business that is right for you is very important. If you are struggling with what type of business to start, read Good Business Ideas.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Wholesale & Manufacturers Ice Cream Cone Business guide or our Starting an Oil & Gas Well Drilling Business guide.
Don't forget that starting a business in Lima has some implications. If Lima already has plenty of the kind of business you want to start, you might want to change your plans. Don't forget to review Lima demographics to see if there's a market for what you want to sell.
Lima, Ohio Demographic Information
Lima has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lima demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lima.
Businesses
As a new Lima entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lima 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
Should You Franchise?
As you drive around Lima, you'll notice that many local entrepreneurs have gone the franchising route. Is there a franchise opportunity out there that makes sense for you?
We highly recommend you investigate buying a franchise. We have many articles on franchises, such as Credit and Franchise Purchasing. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Yakety Yak Wireless and Fetch! Pet Care. Alternatively, you can browse franchise categories, such as Home Furnishings Franchises and Automotive Services Franchises.
Note on Lima Franchise Opportunities: To find out if a franchise you are interested in is available in Lima, you will need to get in direct contact with the franchisor.
Forming a Company in Lima, Ohio
A critical step is ensuring that you choose the right legal structure for your new entity. Doing so will protect you from personal liability for business debts and obligations.
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 Ohio, it doesn't mean you are required 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. To learn the fundamentals of company formation, browse articles on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Lima, Ohio, our information on Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
The Role of the Business Plan
A business plan is vital in laying a solid foundation for your business success. Indeed, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
If you want more information on writing business plans, we recommend reading Business Plan Contests. You can also get free counseling sessions provided by your local SCORE chapter in Ohio.
Letting the World Know You Exist
Whether your goal is to attract Lima customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
You can learn a ton about marketing on our site. How to Get Started with Advertsing is a good read to get your marketing juices flowing. That's just one of the many useful articles we have on Marketing a Small Business.
What's Next?
You have a dream -- starting a business in Lima. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Lima and elsewhere to achieve real success. 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 Lima, Ohio
Here are more links that we believe will help you be successful in starting a business in Lima.
- Resources for Lima, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Lima 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.
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