January 26, 2021  
 
  Entrepreneurial Resources - Advice for Idaho Entrepreneurs  
  Orofino, Idaho Resources for Entrepreneurs  
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Start a Business in Orofino, Idaho

Are you starting a business in Orofino, Idaho? This article discusses the most important things to consider when opening a business in Orofino.

Are You Ready for Entrepreneurship?

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

With so much at stake when you start a business, we strongly recommend you do the following before you proceed:

  • Talk to other entrepreneurs in Orofino. Listen closely to their experiences and see if you think you too can be successful.
  • We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
  • Have a candid conversation with friends and family. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.

Orofino, Idaho Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 362
5-9 Employees 129
10-19 Employees 81
20-49 Employees 24
50-99 Employees 6
100-249 Employees 6
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Orofino Businesses 608

As a new Orofino entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Orofino 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
Animal (except Poultry) Slaughtering 1
Automotive Parts and Accessories Stores 2
Beer, Wine, and Liquor Stores 1
Bowling Centers 1
Building Inspection Services 1
Carpet and Upholstery Cleaning Services 1
Child and Youth Services 1
Child Day Care Services 3
Computer Systems Design Services 2
Confectionery and Nut Stores 1
Convenience Stores 1
Credit Unions 1
Drinking Places (Alcoholic Beverages) 4
Electric Power Distribution 1
Electrical Contractors 3
Elementary and Secondary Schools 1
Fitness and Recreational Sports Centers 2
Florists 1
Full-Service Restaurants 7
Funeral Homes and Funeral Services 1
Furniture Stores 1
General Automotive Repair 1
General Medical and Surgical Hospitals 1
Golf Courses and Country Clubs 1
Hand and Edge Tool Manufacturing 1
HMO Medical Centers 1
Home Health Care Services 2
Homes for the Elderly 1
Insurance Agencies and Brokerages 2
Internet Service Providers 1
Investment Advice 1
Land Subdivision 1
Limited-Service Restaurants 1
Logging 19
Masonry Contractors 1
Motorcycle Dealers 1
Museums 1
New Car Dealers 2
Newspaper Publishers 1
Nonresidential Property Managers 1
Nursing Care Facilities 1
Offices of Certified Public Accountants 2
Offices of Chiropractors 2
Offices of Dentists 3
Offices of Lawyers 3
Offices of Optometrists 2
Petroleum Bulk Stations and Terminals 1
Pharmacies and Drug Stores 2
Professional Organizations 1
Radio Stations 1
Real Estate Credit 1
Residential Remodelers 3
Retail Bakeries 1
Roofing Contractors 1
Sawmills 2
Securities Brokerage 1
Septic Tank and Related Services 1
Sewage Treatment Facilities 1
Shoe Stores 1
Sign Manufacturing 1
Site Preparation Contractors 2
Snack and Nonalcoholic Beverage Bars 4
Solid Waste Collection 1
Sporting Goods Stores 2
Support Activities for Forestry 1
Tax Preparation Services 1
Tire Dealers 2
Title Abstract and Settlement Offices 1
Used Merchandise Stores 1
Veterinary Services 3
Video Tape and Disc Rental 1
Wired Telecommunications Carriers 2

Should You Franchise?

As you drive around Orofino, you'll see that franchises make up a large percentage of local businesses. But is franchising the right option for you?

Our advice is to investigate buying a franchise. We have many articles on franchises, such as Franchise Versus Business Opportunity. Get a thorough education on franchising by browsing all of our Articles on Franchising.

A comprehensive list of franchisors is available via our List of Franchise Opportunities.

Representative franchise opportunities include ASP Pool & Spa Co. and Concrete Raising of America. Alternatively, you can browse franchise categories, such as Golf Franchises and Real Estate Franchises.

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

Forming a Company in Orofino, Idaho

It's very important that you are forming a legal entity that operates independently from you. Among other things, forming a legal entity for the business limits your liabilities.

When forming a company, you will decide among many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.

Incorporating is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Idaho, you don't necessarily have to incorporate in Idaho. In fact, you are allowed to incorporate wherever you want. 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 Where to Incorporate. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Orofino, Idaho, our web page covering Incorporating in Idaho may be a useful resource if you decide to incorporate in Idaho.

Getting Money to Start a Business

Obtaining startup financing for your Orofino business is a difficult chore. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

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

For Orofino entrepreneurs on the hunt for startup funding, check out our List of Idaho Angel Investors and our List of Idaho Venture Capital Firms.

Getting the Word Out About Your New Startup

Whether your goal is to attract Orofino customers or you plan on selling elsewhere, you need a great marketing plan.

You can learn a ton about marketing on our site. Business Logo Design is an article that will stimulate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Never Give Up

As an entrepreneur in Orofino, 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 Orofino and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Orofino, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Orofino, Idaho

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

 

 

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