August 8, 2020  
 
  Entrepreneurial Resources - Advice for Washington Entrepreneurs  
  Monroe, Washington Resources for Entrepreneurs  
Gaebler.com is a daily online magazine covering small business news. We help entrepreneurs transform ideas and innovations into greatness.

Opening a Business in Monroe, Washington

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

Monroe, Washington Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 18315
5-9 Employees 6840
10-19 Employees 4095
20-49 Employees 2835
50-99 Employees 765
100-249 Employees 135
250-499 Employees 90
500-999 Employees 45
1000+ Employees 0
All Monroe Businesses 33120

As a new Monroe entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Monroe 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
Adhesive Manufacturing 1
Architectural Services 1
Automotive Glass Replacement Shops 1
Automotive Parts and Accessories Stores 5
Automotive Transmission Repair 2
Beauty Salons 5
Beer, Wine, and Liquor Stores 1
Blind and Shade Manufacturing 1
Boat Building 2
Book Stores 1
Business Associations 1
Canvas and Related Product Mills 2
Car Washes 2
Carpet and Upholstery Cleaning Services 1
Caterers 1
Cemeteries and Crematories 1
Child Day Care Services 9
Civic and Social Organizations 3
Coin-Operated Laundries and Drycleaners 1
Commercial Lithographic Printing 2
Community Food Services 1
Computer and Software Stores 2
Computer Training 1
Concrete Block and Brick Manufacturing 1
Confectionery Merchant Wholesalers 1
Construction Sand and Gravel Mining 1
Continuing Care Retirement Communities 4
Convenience Stores 1
Copper Foundries (except Die-Casting) 1
Custom Computer Programming Services 2
Diagnostic Imaging Centers 1
Display Advertising 1
Document Preparation Services 3
Drinking Places (Alcoholic Beverages) 3
Drywall and Insulation Contractors 7
Electrical Contractors 13
Electronic Shopping 1
Elementary and Secondary Schools 2
Engineering Services 7
Environmental Consulting Services 1
Exam Preparation and Tutoring 1
Family Planning Centers 1
Farm Supplies Merchant Wholesalers 1
Fine Arts Schools 1
Finish Carpentry Contractors 10
Fitness and Recreational Sports Centers 5
Flooring Contractors 4
Florists 3
Food (Health) Supplement Stores 2
Food Product Machinery Manufacturing 1
Food Service Contractors 1
Framing Contractors 4
Freight Transportation Arrangement 1
Full-Service Restaurants 18
Funeral Homes and Funeral Services 1
Furniture Stores 2
General Automotive Repair 12
General Freight Trucking, Local 1
General Medical and Surgical Hospitals 1
Gift, Novelty, and Souvenir Stores 1
Golf Courses and Country Clubs 1
Graphic Design Services 1
Hardware Stores 1
Hobby, Toy, and Game Stores 3
Home Health Care Services 1
Homes for the Elderly 1
Insurance Agencies and Brokerages 10
Interior Design Services 1
Janitorial Services 3
Jewelry Stores 1
Land Subdivision 2
Landscaping Services 18
Lessors of Other Real Estate Property 1
Limited-Service Restaurants 22
Local Messengers and Local Delivery 1
Locksmiths 1
Logging 1
Machine Shops 5
Masonry Contractors 2
Metal Stamping 1
Mortgage and Nonmortgage Loan Brokers 3
Motion Picture and Video Production 1
Motor Vehicle Towing 1
Motorcycle Dealers 2
Museums 1
Musical Instrument and Supplies Stores 2
Nail Salons 1
New Car Dealers 3
New Housing Operative Builders 4
Newspaper Publishers 1
Nonresidential Property Managers 5
Nursing Care Facilities 2
Office Supplies and Stationery Stores 1
Offices of Certified Public Accountants 4
Offices of Chiropractors 5
Offices of Dentists 10
Offices of Lawyers 3
Offices of Optometrists 2
Offices of Real Estate Appraisers 1
Optical Goods Stores 2
Outdoor Power Equipment Stores 1
Packaging and Labeling Services 1
Painting and Wall Covering Contractors 11
Pet and Pet Supplies Stores 2
Pet Care (except Veterinary) Services 4
Petroleum Bulk Stations and Terminals 1
Pharmacies and Drug Stores 2
Political Organizations 1
Private Mail Centers 1
Quick Printing 1
Ready-Mix Concrete Manufacturing 1
Real Estate Credit 1
Residential Property Managers 2
Residential Remodelers 12
Reupholstery and Furniture Repair 1
Roofing Contractors 8
Savings Institutions 2
Sawmills 1
Seafood Canning 2
Securities Brokerage 1
Shellfish Fishing 1
Shoe Stores 1
Sign Manufacturing 2
Site Preparation Contractors 11
Snack and Nonalcoholic Beverage Bars 13
Software Publishers 3
Sporting Goods Stores 8
Support Activities for Forestry 1
Synthetic Rubber Manufacturing 1
Tax Preparation Services 2
Testing Laboratories 1
Tile and Terrazzo Contractors 1
Tire Dealers 2
Title Abstract and Settlement Offices 1
Tobacco Stores 1
Toilet Preparation Manufacturing 1
Travel Agencies 2
Used Car Dealers 2
Used Merchandise Stores 2
Veterinary Services 4
Video Tape and Disc Rental 2
Vocational Rehabilitation Services 1
Voluntary Health Organizations 1
Warehouse Clubs and Supercenters 1
Watch, Clock, and Part Manufacturing 1
Wholesale Trade Agents and Brokers 2
Window Treatment Stores 1
Wired Telecommunications Carriers 1
Women's Clothing Stores 1
Wood Window and Door Manufacturing 2

Picking a Company Name

A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.

Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.

On a final note, given that you are planning on starting a business in Monroe, it's imperative that you check now that no other Washington company is using the business name you want to use.

Forming a Company in Monroe, Washington

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. The primary advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.

The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Washington, it doesn't mean you are required to incorporate in Washington. 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 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 should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Monroe, Washington, our information on Incorporating in Washington may be a useful resource if you decide to incorporate in Washington.

Don't Skip the Business Plan

Having a business plan is vital to the health of your new business. 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 makes you more prone to becoming a business failure statistic.

To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in Washington.

Startup Financing Basics

Getting your Monroe 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.

To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.

For Monroe entrepreneurs in need of startup financing, check out our List of Washington Angel Investors and our List of Washington Venture Capital Firms.

Marketing Your New Business

Whether your goal is to attract Monroe customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your business achieving its goals.

There are myriad resources on this site to help you with your marketing plan. Telemarketing Service Costs discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Never Give Up

Most new Monroe businesses underestimate the number of challenges they will face.

From this point on, you control your own destiny.

We are here to help Monroe 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 Monroe, Washington

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

 

 

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