Kansas Business Startup Guides
Starting a Business in Lincoln, Kansas
Thinking about starting a business in Lincoln, Kansas? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Lincoln.
Lincoln, Kansas Demographic Information
Lincoln has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lincoln demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lincoln.
Businesses
As a new Lincoln entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lincoln 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
Is a Franchise Opportunity Right For You?
Browse the Yellow Pages for Lincoln and you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. Would going with a franchise be a good idea for you?
Our advice is to consider franchising as an option. We have many articles on franchises, such as Before Buying a Franchise. Become a franchising expert of sorts by reading more of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Representative franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Lincoln Franchise Opportunities: To find out if a franchise you are interested in is available in Lincoln, you will need to get in direct contact with the franchisor.
Should You Buy an Existing Lincoln Business?
If you have some capital to play with, you may want to Buy a Business in Kansas. Follow that link and you can assess several good businesses for sale in Lincoln.
If you are going to be buying a business, you may want to read this article: How to Buy a Business.
Forming a Company in Lincoln, Kansas
It's very important that you form your business as a legal structure. 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.
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 Kansas, it doesn't mean you are required to incorporate in Kansas. As it turns out, you can 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 LLC Advantages. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Lincoln, Kansas, our information on Incorporating in Kansas may be a useful resource if you decide to incorporate in Kansas.
Don't Forget to Create a Business Plan
Writing a business plan is essential in maximizing the prospects of your new company. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan will greatly reduce your chances of business success.
To learn more about business plans, read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Kansas.
Where to Get Money to Start a Company
Getting your Lincoln business the capital it needs to succeed will be harder than you might expect. 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 finding startup capital, such as 504 Loans.
For Lincoln entrepreneurs who want to raise money for a new venture, check out our List of Kansas Angel Investors and our List of Kansas Venture Capital Firms.
What's Next?
You have a dream -- starting a business in Lincoln. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
We are here to help Lincoln businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Lincoln, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lincoln, Kansas
Here are more links that we believe will help you be successful in starting a business in Lincoln.
- Resources for Lincoln, Kansas Entrepreneurs - Browse a variety of resources we've collected to assist Lincoln entrepreneurs.
- Kansas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kansas.
- Kansas Small Business Development Center - The KSBDC Network provides Kansas entrepreneurs and small business owners with knowledge, tools and resources to enhance their success. Contact them and they will help you identify your business needs and guide you toward opportunities and solutions.
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