June 6, 2020  
 
  Entrepreneurial Resources - Advice for Wisconsin Entrepreneurs  
  Minocqua, Wisconsin Resources for Entrepreneurs  
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Starting a Business in Minocqua, Wisconsin

Thinking about starting a business in Minocqua, Wisconsin? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Minocqua.

Do You Have Entrepreneurial Drive and Passion?

Running your own business is hard work, much harder than working as an employee. Are you sure you have the stamina and skills to succeed on your own?

Before you move forward with starting a business, be sure to do these three things:

  • Talk to other entrepreneurs in Minocqua. Get their candid feedback on what it takes to start a successful business.
  • We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
  • 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

An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Free 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 Dance Club guide or our Starting a Tatoo Parlor guide.

Don't forget that you are starting a business in Minocqua. The business you want to start may already be well-represented in Minocqua. Only by spending some time analyzing Minocqua demographics can you decide if there will be strong demand for your business idea.

As a new Minocqua entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Minocqua 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
Amusement Arcades 1
Architectural Services 1
Art Dealers 2
Automotive Parts and Accessories Stores 1
Beauty Salons 5
Bed-and-Breakfast Inns 2
Boat Dealers 4
Book Stores 1
Bowling Centers 1
Business Associations 1
Child Day Care Services 2
Children's and Infants' Clothing Stores 2
Civic and Social Organizations 1
Clothing Accessories Stores 1
Confectionery and Nut Stores 1
Digital Printing 1
Discount Department Stores 1
Drinking Places (Alcoholic Beverages) 5
Electrical Contractors 2
Elementary and Secondary Schools 2
Engineering Services 1
Family Clothing Stores 4
Finish Carpentry Contractors 2
Fitness and Recreational Sports Centers 3
Floor Covering Stores 1
Flooring Contractors 1
Florists 1
Food (Health) Supplement Stores 1
Framing Contractors 2
Full-Service Restaurants 21
Funeral Homes and Funeral Services 1
Furniture Stores 5
General Automotive Repair 7
Gift, Novelty, and Souvenir Stores 8
Golf Courses and Country Clubs 3
Graphic Design Services 1
Hobby, Toy, and Game Stores 1
Home Health Equipment Rental 2
Homes for the Elderly 1
Household Appliance Stores 1
Insurance Agencies and Brokerages 9
Janitorial Services 2
Jewelry Stores 2
Land Subdivision 1
Landscaping Services 4
Lessors of Other Real Estate Property 1
Limited-Service Restaurants 9
Logging 2
Machine Shops 1
Marinas 1
Masonry Contractors 3
Materials Recovery Facilities 1
Mortgage and Nonmortgage Loan Brokers 2
Motion Picture and Video Production 1
Motor Vehicle Towing 2
New Car Dealers 2
Newspaper Publishers 1
Nonresidential Property Managers 2
Offices of Certified Public Accountants 4
Offices of Chiropractors 3
Offices of Dentists 5
Offices of Lawyers 4
Offices of Real Estate Appraisers 3
One-Hour Photofinishing 1
Paint and Wallpaper Stores 2
Painting and Wall Covering Contractors 6
Pet and Pet Supplies Stores 1
Petroleum Bulk Stations and Terminals 1
Professional Employer Organizations 1
Radio Stations 1
Real Estate Credit 2
Recreational Goods Rental 2
Residential Property Managers 1
Residential Remodelers 4
Retail Bakeries 2
Roofing Contractors 1
Sales Financing 1
Securities Brokerage 3
Security Guards and Patrol Services 1
Sewage Treatment Facilities 1
Siding Contractors 1
Sign Manufacturing 1
Site Preparation Contractors 6
Snack and Nonalcoholic Beverage Bars 3
Solid Waste Collection 1
Sporting Goods Stores 5
Sports and Recreation Instruction 1
Tax Preparation Services 1
Tile and Terrazzo Contractors 1
Travel Agencies 2
Used Car Dealers 3
Used Merchandise Stores 3
Vending Machine Operators 1
Veterinary Services 2
Video Tape and Disc Rental 1
Wired Telecommunications Carriers 1
Women's Clothing Stores 4

Is a Franchise Opportunity Right For You?

Browse the Yellow Pages for Minocqua and it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?

Our advice is to investigate buying a franchise. This site has dozens of articles on franchising, such as Growth Trends in Franchising. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise 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 Minocqua Franchise Opportunities: To find out if a franchise you are interested in is available in Minocqua, you will need to get in direct contact with the franchisor.

Have You Considered Buying an Existing Minocqua Business?

We've created a helpful website page for those who want to Buy a Business in Wisconsin. Follow that link and you may find several good businesses for sale in Minocqua.

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

Naming the Company

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.

For other considerations regarding naming a company, we recommend this article: Branding Advice.

There's one other important factor when naming a business. Since you are opening a business in Minocqua, it's critical that you ensure that no other Wisconsin company is using the business name you want to use.

Forming a Company in Minocqua, Wisconsin

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will separate you from personal liability for business debts and obligations.

The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.

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 Wisconsin, it doesn't mean you are required to incorporate in Wisconsin. In fact, you are allowed to incorporate in any state you would like to. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.

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 Corporate Formalities. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Minocqua, Wisconsin, our information on Incorporating in Wisconsin may be a useful resource if you decide to incorporate in Wisconsin.

The Role of the Business Plan

Writing a business plan is essential in maximizing the prospects of your new company. Indeed, a business plan is a written description of the future you envision for your business. Failure to write a business plan will greatly reduce your chances of business success.

If you want more information on writing business plans, we recommend reading Business Plan Contests. You should also take advantage of free business counselors available to you through your local SCORE chapter in Wisconsin.

Where to Get Money to Start a Company

Getting your Minocqua business the capital it needs to succeed requires strong organization skills and perseverance. In fact, financing your new business may be the hardest challenge you ever face.

To learn about raising money, we recommend you read the fundraising articles on our site, such as Getting a Small Business Loan.

For Minocqua entrepreneurs who want to raise money for a new venture, you'll want to take a look at our List of Wisconsin Angel Investors and our List of Wisconsin Venture Capital Firms.

Marketing Your New Venture

To grow your Minocqua business, you'll need to have a good marketing plan.

There are myriad resources on this site to help you with your marketing plan. Music on Hold is an article that will stimulate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.

Selling Tips

Do you know how to sell? In order to attract customers to your new Minocqua business, you need to focus on sales.

So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.

Compensating Sales People is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Advancing Your Entrepreneurial Skills

Good business owners recognize that what they know now may not be enough to ensure their future success.

As an entrepreneur who lives in Minocqua, Wisconsin, you will want to take advantage of the many programs available at nearby Wisconsin universities, colleges and community colleges. It's also worthwhile to see if there are any networking organizations for Minocqua entrepreneurs.

Now It's Up To You

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

If you choose the right business and love what you do, you will greatly increase your odds of success.

We are here to help Minocqua businesses to be successful. 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 Minocqua, Wisconsin

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

 

 

Additional Resources for Entrepreneurs

Buying a Business

Writing a Business Plan

Raising Money

Incorporate

Small Business Marketing

Advertising Advice

Public Relations -

Customer Service Tips

Entrepreneurial Selling

Workplace Safety