August 3, 2020  
 
  Entrepreneurial Resources - Advice for Illinois Entrepreneurs  
  Pecatonica, Illinois Resources for Entrepreneurs  
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Starting a Business in Pecatonica, Illinois

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

Pecatonica, Illinois Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 168
5-9 Employees 54
10-19 Employees 39
20-49 Employees 9
50-99 Employees 0
100-249 Employees 3
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Pecatonica Businesses 273

As a new Pecatonica entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Pecatonica 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
Beauty Salons 1
Caterers 1
Cemeteries and Crematories 2
Child Day Care Services 1
Clay Refractory Manufacturing 1
Coin-Operated Laundries and Drycleaners 1
Convenience Stores 1
Custom Computer Programming Services 2
Drilling Oil and Gas Wells 1
Drinking Places (Alcoholic Beverages) 2
Drywall and Insulation Contractors 1
Electrical Contractors 2
Farm Supplies Merchant Wholesalers 1
Fine Arts Schools 1
Finish Carpentry Contractors 2
Fitness and Recreational Sports Centers 2
Floor Covering Stores 1
Flooring Contractors 2
Florists 1
Framing Contractors 1
Full-Service Restaurants 3
Funeral Homes and Funeral Services 1
General Automotive Repair 2
General Freight Trucking, Local 2
Hardware Stores 1
Hazardous Waste Treatment and Disposal 1
Insurance Agencies and Brokerages 3
Machine Shops 1
Masonry Contractors 1
Meat Markets 1
Offices of Dentists 1
Offices of Lawyers 1
Pharmacies and Drug Stores 1
Political Organizations 1
Residential Remodelers 2
Septic Tank and Related Services 1
Siding Contractors 1
Site Preparation Contractors 2
Used Car Dealers 1
Video Tape and Disc Rental 1

Have You Considered Franchising?

Examine a list of Pecatonica businesses and 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 consider franchising as an option. We have many articles on franchises, such as Franchising Mistakes. 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.

Sample franchise opportunities include Super Wash, Inc. and HyTech Weight Loss. Alternatively, you can browse franchise categories, such as Training and Education Franchises and IT Franchises.

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

Have You Considered Buying an Existing Pecatonica Business?

If you have some capital to play with, you may want to Buy a Business in Illinois. Follow that link and you can review several good businesses for sale in Pecatonica.

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

Company Formation in Pecatonica, Illinois

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Doing so will protect you from personal liability for business debts and obligations.

When forming a company, you will choose from many company types, such as 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. Just because you are starting a business in Illinois, you don't necessarily have to incorporate in Illinois. 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'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 Piercing the Corporate Veil. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Pecatonica, Illinois, our web page covering Incorporating in Illinois may be a useful resource if you decide to incorporate in Illinois.

The Role of the Business Plan

Creating a business plan is essential in maximizing the prospects of your new company. Simply put, a business plan is a written description of the future you envision for your business. Failure to write a business plan

To learn more about business plans, read Business Plan Software. You should also take advantage of free business counselors available to you through your local SCORE chapter in Illinois.

Improving Your Entrepreneurial Skillset

Successful business owners know that what they know now may not be enough to ensure their future success.

With your business being located in Pecatonica, Illinois, you should check out 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 Pecatonica entrepreneurs get together to network and trade their business experiences.

Next Steps

As an entrepreneur in Pecatonica, you won't be working for the boss anymore. You are the boss.

From this point on, you control your own destiny.

This site is all about helping entrepreneurs in Pecatonica and elsewhere to achieve real success. 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 Pecatonica, Illinois

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

 

 

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