Ohio Business Startup Guides

Opening a Business in Loudonville, Ohio

Contemplating starting a business in Loudonville, Ohio? We walk you through the process of opening a business in Loudonville.

Are You Sure You Want to Do This?

Being an entrepreneur is difficult, much more challenging than working as an employee. Are you positive you have the stamina and skills to succeed on your own?

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

  • Talk to other entrepreneurs in Loudonville. 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.

Loudonville, Ohio Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
290
5-9 Employees
132
10-19 Employees
57
20-49 Employees
36
50-99 Employees
9
100-249 Employees
3
250-499 Employees
0
500-999 Employees
0
1000+ Employees
0
All Loudonville Businesses
527

As a new Loudonville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Loudonville 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 Parts and Accessories Stores
1
Beauty Salons
2
Book Publishers
1
Bowling Centers
1
Business Associations
2
Child Day Care Services
2
Civic and Social Organizations
2
Commercial Lithographic Printing
2
Computer Training
1
Convention and Visitors Bureaus
2
Credit Unions
1
Custom Computer Programming Services
1
Drinking Places (Alcoholic Beverages)
3
Electronic Shopping
1
Finish Carpentry Contractors
2
Fitness and Recreational Sports Centers
1
Flooring Contractors
1
Florists
1
Flour Milling
1
Framing Contractors
1
Full-Service Restaurants
5
Furniture Stores
1
General Automotive Repair
2
General Freight Trucking, Local
1
Graphic Design Services
1
Hardware Stores
1
Heavy Duty Truck Manufacturing
1
Home Centers
1
Household Appliance Stores
1
Insurance Agencies and Brokerages
5
Internet Service Providers
1
Jewelry Stores
3
Landscaping Services
3
Limited-Service Restaurants
5
Machine Shops
1
New Car Dealers
2
Nursing Care Facilities
1
Offices of Chiropractors
3
Offices of Dentists
2
Offices of Lawyers
3
Offices of Optometrists
2
Optical Goods Stores
1
Pharmacies and Drug Stores
1
Quick Printing
1
Ready-Mix Concrete Manufacturing
1
Recreational Goods Rental
6
Recreational Vehicle Dealers
1
Sawmills
2
Septic Tank and Related Services
1
Site Preparation Contractors
2
Snack and Nonalcoholic Beverage Bars
2
Tire Dealers
1
Used Car Dealers
1
Used Merchandise Stores
1
Veterinary Services
1
Video Tape and Disc Rental
1

Is a Franchise Opportunity Right For You?

As you drive around Loudonville, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?

Our recommendation is that you consider franchising as an option. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Understanding Franchise Contracts. Become a franchising expert of sorts by reading more of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Bear Creek Coffee and CruiseOne. Alternatively, you can browse franchise categories, such as Wedding Franchises and Hardware Store Franchises.

Note on Loudonville Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Loudonville.

Have You Considered Buying an Existing Loudonville Business?

If you have some capital to play with, you may want to Buy a Business in Ohio. Follow that link and you might discover several good businesses for sale in Loudonville.

If you are serious about buying a business, you may want to read this article: How to Buy a Business.

Company Formation in Loudonville, Ohio

It's essential that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.

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. Just because you are starting a business in Ohio, you don't necessarily have to incorporate in Ohio. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.

There's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Subchapter S Corporations. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Loudonville, Ohio, our information on Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.

Where to Get Money to Start a Company

Getting your Loudonville business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.

For Loudonville entrepreneurs with great ambition but a shortage of investment capital, browse our List of Ohio Angel Investors and our List of Ohio Venture Capital Firms.

Advancing Your Entrepreneurial Skills

The best entrepreneurs know that they need to continually improve.

Given that you are starting a business in Loudonville, Ohio, you will want to take advantage of the learning programs at local Ohio educational institutions. It's also worthwhile to see if there are any networking groups or organizations in which Loudonville entrepreneurs get together to network and trade their business experiences.

Next Steps

As an entrepreneur in Loudonville, you won't be working for the boss anymore. You are the boss.

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

We are here to help Loudonville businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Loudonville, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Loudonville, Ohio

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

  • Resources for Loudonville, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Loudonville 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.

Starting-a-Business Guides for Other Cities in Ohio

Starting a Business in Lorain
Starting a Business in Louisville

Browse All Business Startup Guides for Ohio
Starting a Business Guides for Other States

 

 

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Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

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