Michigan Business Startup Guides
Opening a Business in Ontonagon, Michigan
Contemplating starting a business in Ontonagon, Michigan? We walk you through the process of opening a business in Ontonagon.
Are You Sure You Want to Do This?
Running your own business is hard work, much more arduous than working as an employee. Are you sure you are ready to take on this challenge?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Ontonagon. 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.
Ontonagon, Michigan Demographic Information
Ontonagon has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Ontonagon demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Ontonagon.
Businesses
As a new Ontonagon entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ontonagon 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 Franchising a Better Option?
As you drive around Ontonagon, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
Most business experts recommend that you evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Franchising Scams. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Sample franchise opportunities include Oilstop-Drive Thru Oil Change Centers and Grower Direct Fresh Cut Flowers. Alternatively, you can browse franchise categories, such as Child Care Franchises and Cleaning and Maintenance Franchises.
Note on Ontonagon Franchise Opportunities: To find out if a franchise you are interested in is available in Ontonagon, you will need to get in direct contact with the franchisor.
Company Formation in Ontonagon, Michigan
It's essential that your business is formed as a legal entity that is separate from its owners. The principal 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 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 Michigan, it doesn't mean you are required to incorporate in Michigan. As it turns out, you are allowed to 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'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 Registered Agents. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Ontonagon, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
Don't Skip the Business Plan
A business plan is critical to the health of your new business. Indeed, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Michigan.
Building Up Your Sales
Do you know how to sell? In order to attract customers to your new Ontonagon business, you need to focus on sales.
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.
Sales Prospecting offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Next Steps
As an entrepreneur in Ontonagon, 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.
This site is all about helping entrepreneurs in Ontonagon and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Ontonagon, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Ontonagon, Michigan
Here are more links that we believe will help you be successful in starting a business in Ontonagon.
- Resources for Ontonagon, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Ontonagon entrepreneurs.
- Michigan Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Michigan.
- Michigan Small Business Development Center - This organization supports 12 regional offices and over 30 satellite offices, each providing counseling and training to Michigan small business owners and entrepreneurs throughout the 83 counties in Michigan. Services to entrepreneurs are offered through a cooperative agreement with the U.S. Small Business Administration.
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