August 13, 2020  
 
  Entrepreneurial Resources - Advice for Minnesota Entrepreneurs  
  Ortonville, Minnesota Resources for Entrepreneurs  
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Opening a Business in Ortonville, Minnesota

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

Ortonville, Minnesota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 400
5-9 Employees 174
10-19 Employees 54
20-49 Employees 66
50-99 Employees 6
100-249 Employees 6
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Ortonville Businesses 706

As a new Ortonville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Ortonville 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
Automotive Parts and Accessories Stores 2
Baked Goods Stores 1
Beauty Salons 2
Beer, Wine, and Liquor Stores 2
Bowling Centers 1
Cemeteries and Crematories 1
Civic and Social Organizations 3
Commercial Lithographic Printing 1
Commercial Screen Printing 1
Convenience Stores 1
Dental Laboratories 1
Electrical Contractors 2
Fitness and Recreational Sports Centers 1
Floor Covering Stores 1
Flooring Contractors 1
Florists 1
Framing Contractors 1
Full-Service Restaurants 4
Furniture Stores 1
General Automotive Repair 1
General Medical and Surgical Hospitals 1
Grantmaking Foundations 1
Hardware Stores 2
Insurance Agencies and Brokerages 6
Jewelry Stores 1
Landscaping Services 2
Limited-Service Restaurants 2
Meat Markets 1
New Housing Operative Builders 1
Newspaper Publishers 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 1
Offices of Dentists 1
Offices of Lawyers 4
Offices of Optometrists 2
Pharmacies and Drug Stores 4
Securities Brokerage 1
Sporting Goods Stores 2
Tax Preparation Services 1
Title Abstract and Settlement Offices 1
Used Car Dealers 1
Video Tape and Disc Rental 1
Wired Telecommunications Carriers 1

Should You Franchise?

As you drive around Ortonville, you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. But is franchising the right option for you?

Our advice is to evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as Selling A Franchise. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

You can review hundreds of franchise opportunities by browing our Franchise Directory.

Sample franchise opportunities include The Johnny Rockets Group, Inc. and Breadeaux Pizza. Alternatively, you can browse franchise categories, such as Tanning Franchises and Healthcare Services Franchises.

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

What About Buying an Existing Ortonville Business?

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

For anybody who wants to buy a business, we recommend reading this useful article: Buying a Business.

Naming the Business

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.

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.

As a final piece of advice, remember that because you are planning on starting a business in Ortonville, it's very important that you make sure no other Minnesota company is using the business name you want to use.

Forming a Company in Ortonville, Minnesota

A critical step is ensuring that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.

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. If you are starting a business in Minnesota, you don't necessarily have to incorporate in Minnesota. 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 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 Pre-Incorporation Agreements. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Ortonville, Minnesota, our information on Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.

Getting Money to Start a Business

Getting your Ortonville business the capital it needs to succeed will be harder than you might expect. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.

Take advantage of our many articles on raising money, such as How to Raise Money.

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

What's Next?

You have a dream -- starting a business in Ortonville. To achieve your dream, you have to persevere, even when the odds are against you.

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

Our goal here is to promote the vitality and growth of small businesses in Ortonville and throughout the United States . 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 Ortonville, Minnesota

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

 

 

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