January 26, 2021  
 
  Entrepreneurial Resources - Advice for Illinois Entrepreneurs  
  Olney, Illinois Resources for Entrepreneurs  
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Starting a Business in Olney, Illinois

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

Olney, Illinois Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 2013
5-9 Employees 864
10-19 Employees 477
20-49 Employees 378
50-99 Employees 45
100-249 Employees 27
250-499 Employees 27
500-999 Employees 9
1000+ Employees 0
All Olney Businesses 3840

As a new Olney entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Olney 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
Appliance Repair and Maintenance 1
Apprenticeship Training 1
Automotive Glass Replacement Shops 1
Automotive Parts and Accessories Stores 5
Beauty Salons 4
Beer, Wine, and Liquor Stores 3
Bowling Centers 1
Business Associations 3
Cable and Other Program Distribution 1
Car Washes 4
Caterers 1
Child and Youth Services 1
Child Day Care Services 2
Civic and Social Organizations 7
Claims Adjusting 1
Coin-Operated Laundries and Drycleaners 1
Collection Agencies 1
Commercial Lithographic Printing 1
Computer Systems Design Services 1
Consumer Lending 4
Convenience Stores 1
Couriers 1
Custom Compounding of Purchased Resins 1
Dental Laboratories 1
Diagnostic Imaging Centers 3
Drilling Oil and Gas Wells 3
Drinking Places (Alcoholic Beverages) 1
Electric Power Distribution 2
Electrical Contractors 3
Engineering Services 1
Exterminating and Pest Control Services 1
Family Clothing Stores 1
Farm Supplies Merchant Wholesalers 3
Fertilizer (Mixing Only) Manufacturing 1
Finish Carpentry Contractors 1
Fitness and Recreational Sports Centers 3
Floor Covering Stores 1
Flooring Contractors 3
Florists 2
Fluid Milk Manufacturing 1
Food Product Machinery Manufacturing 1
Food Service Contractors 1
Freight Transportation Arrangement 2
Full-Service Restaurants 7
Funeral Homes and Funeral Services 2
Furniture Stores 2
General Automotive Repair 4
General Freight Trucking, Local 3
General Medical and Surgical Hospitals 1
General Rental Centers 2
Gift, Novelty, and Souvenir Stores 3
Golf Courses and Country Clubs 1
Hardware Stores 1
Home Centers 1
Home Health Care Services 1
Home Health Equipment Rental 1
Homes for the Elderly 2
Household Appliance Stores 3
Insurance Agencies and Brokerages 9
Investment Advice 1
Janitorial Services 1
Landscaping Services 1
Limited-Service Restaurants 11
Machine Shops 5
Marinas 1
Masonry Contractors 1
Medical Laboratories 1
Men's Clothing Stores 1
Miscellaneous Intermediation 1
Motorcycle Dealers 1
Natural Gas Distribution 2
New Car Dealers 2
New Housing Operative Builders 1
Newspaper Publishers 1
Nursing Care Facilities 1
Office Supplies and Stationery Stores 1
Offices of Certified Public Accountants 3
Offices of Chiropractors 6
Offices of Dentists 4
Offices of Lawyers 8
Offices of Optometrists 2
Outdoor Power Equipment Stores 1
Paint and Wallpaper Stores 2
Painting and Wall Covering Contractors 1
Petroleum Bulk Stations and Terminals 1
Pharmacies and Drug Stores 4
Photography Studios, Portrait 2
Quick Printing 1
Radio Stations 1
Ready-Mix Concrete Manufacturing 1
Recreational Vehicle Dealers 1
Residential Remodelers 6
Roofing Contractors 1
Securities Brokerage 3
Shoe Stores 1
Siding Contractors 1
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 2
Solid Waste Landfill 1
Sporting Goods Stores 4
Sports and Recreation Instruction 1
Steel Wire Drawing 1
Tax Preparation Services 3
Taxi Service 1
Temporary Help Services 2
Temporary Shelters 1
Tire Dealers 1
Title Abstract and Settlement Offices 1
Travel Agencies 3
Travel Trailer and Camper Manufacturing 1
Used Car Dealers 1
Used Merchandise Stores 1
Veterinary Services 2
Video Tape and Disc Rental 2
Vocational Rehabilitation Services 2
Warehouse Clubs and Supercenters 1
Wholesale Trade Agents and Brokers 4
Wired Telecommunications Carriers 3
Women's Clothing Stores 2
Wood Window and Door Manufacturing 1

Is Franchising a Better Option?

As you drive around Olney, you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?

We advise the entrepreneurs we work with to evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Detecting Franchising Scams. 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 Car Wash Guys and Chem-Dry Carpet & Upholstery Cleaning. Alternatively, you can browse franchise categories, such as Fitness Franchises and Mail and Shipping Services Franchises.

Note on Olney Franchise Opportunities: To find out if a franchise you are interested in is available in Olney, you will need to get in direct contact with the franchisor.

Startup Financing Basics

Obtaining startup financing for your Olney business is very difficult due to the ongoing business credit crunch. In fact, financing your new business may be the hardest challenge you ever face.

Take advantage of our many articles on raising capital, such as Only Idiots Send Venture Capitalists Business Plans.

For Olney entrepreneurs who want to raise money for a new venture, check out our List of Illinois Angel Investors and our List of Illinois Venture Capital Firms.

Marketing Your New Startup

Whether your goal is to attract Olney customers or you plan on selling elsewhere, you'll need to have a good marketing plan.

We have some great resources on this site for entrepreneurs who are working on marketing plans. Advertising on Google discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just one of the many useful articles we have on Marketing a Small Business.

The Art of Selling

Mastering the art of selling is essential if you want your new Olney business to do well.

So what does it take to bring in more prospects and close more business? Let us help you refine your selling techniques through our many useful sales advice tips.

Compensating Sales People is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Learning More About Entrepreneurship

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

Given that you are starting a business in Olney, Illinois, you should investigate some of the many programs available at nearby Illinois universities, colleges and community colleges. Another way to keep up on your learning is to investigate networking groups or organizations in which Olney entrepreneurs get together to network and trade their business experiences.

Moving Forward

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

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

This site is all about helping entrepreneurs in Olney and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Olney entrepreneur who is just getting started or you are already up and running with your new venture.

More Entrepreneurial Resources for Starting a Business in Olney, Illinois

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

 

 

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