August 6, 2020  
 
  Entrepreneurial Resources - Advice for Illinois Entrepreneurs  
  Peoria, Illinois Resources for Entrepreneurs  
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Start a Business in Peoria, Illinois

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

Is Becoming an Entrepreneur Right for You?

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

Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:

  • Reach out to other entrepreneurs in Peoria. Get their take on what it's really like to be an entrepreneur.
  • Peruse Characteristics of Successful Entrepreneurs. This is one of our more popular articles for folks who want to go into business for themselves.
  • Seek the advice of somebody who knows you well. That's the best way to get a truly objective assessment as to whether others think you have what it takes.

Peoria, Illinois Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 16323
5-9 Employees 7578
10-19 Employees 5463
20-49 Employees 4257
50-99 Employees 1413
100-249 Employees 945
250-499 Employees 153
500-999 Employees 63
1000+ Employees 72
All Peoria Businesses 36267

As a new Peoria entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Peoria 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
Advertising Agencies 11
Aluminum Die-Casting Foundries 1
Aluminum Foundries (except Die-Casting) 1
Ambulance Services 1
Amusement Arcades 4
Animal (except Poultry) Slaughtering 2
Appliance Repair and Maintenance 3
Apprenticeship Training 2
Architectural Services 12
Armored Car Services 2
Automotive Exhaust System Repair 3
Automotive Glass Replacement Shops 6
Automotive Parts and Accessories Stores 17
Automotive Transmission Repair 3
Baked Goods Stores 3
Beauty Salons 37
Beer and Ale Merchant Wholesalers 4
Beer, Wine, and Liquor Stores 12
Blind and Shade Manufacturing 1
Blood and Organ Banks 2
Boat Building 1
Boat Dealers 3
Book Publishers 1
Book Stores 4
Bowling Centers 3
Breweries 1
Building Inspection Services 1
Business Associations 14
Cable and Other Program Distribution 3
Cafeterias 2
Camera and Photographic Supplies Stores 1
Car Washes 16
Carpet and Upholstery Cleaning Services 10
Caterers 6
Cemeteries and Crematories 6
Charter Bus Industry 1
Child and Youth Services 10
Child Day Care Services 28
Children's and Infants' Clothing Stores 4
Civic and Social Organizations 27
Claims Adjusting 2
Clothing Accessories Stores 7
Coin-Operated Laundries and Drycleaners 4
Collection Agencies 5
Commercial Bakeries 2
Commercial Flexographic Printing 2
Commercial Lithographic Printing 9
Commercial Photography 3
Commercial Screen Printing 3
Commodity Contracts Brokerage 2
Commodity Contracts Dealing 1
Community Food Services 5
Computer and Software Stores 6
Computer Facilities Management Services 1
Computer Systems Design Services 12
Computer Training 1
Concrete Block and Brick Manufacturing 1
Confectionery and Nut Stores 3
Confectionery Merchant Wholesalers 1
Construction Machinery Manufacturing 1
Consumer Lending 20
Continuing Care Retirement Communities 5
Convenience Stores 8
Convention and Trade Show Organizers 1
Convention and Visitors Bureaus 1
Cookie and Cracker Manufacturing 1
Copper Foundries (except Die-Casting) 1
Cosmetology and Barber Schools 1
Couriers 9
Court Reporting and Stenotype Services 4
Credit Bureaus 1
Credit Unions 20
Custom Compounding of Purchased Resins 1
Custom Computer Programming Services 19
Dance Companies 1
Dental Laboratories 7
Diagnostic Imaging Centers 3
Diet and Weight Reducing Centers 2
Digital Printing 2
Direct Life Insurance Carriers 14
Direct Mail Advertising 1
Direct Title Insurance Carriers 4
Directory and Mailing List Publishers 2
Discount Department Stores 5
Display Advertising 2
Document Preparation Services 3
Drinking Places (Alcoholic Beverages) 68
Drywall and Insulation Contractors 14
Educational Support Services 2
Electric Power Distribution 9
Electrical Contractors 20
Elementary and Secondary Schools 10
Emergency and Other Relief Services 4
Employment Placement Agencies 3
Engineering Services 24
Ethyl Alcohol Manufacturing 1
Exam Preparation and Tutoring 1
Exterminating and Pest Control Services 6
Facilities Support Services 2
Family Clothing Stores 24
Family Planning Centers 4
Farm Labor Contractors and Crew Leaders 1
Farm Management Services 1
Farm Product Warehousing and Storage 1
Farm Supplies Merchant Wholesalers 3
Fertilizer (Mixing Only) Manufacturing 1
Fine Arts Schools 4
Finish Carpentry Contractors 8
Fish and Seafood Markets 1
Fitness and Recreational Sports Centers 15
Flight Training 1
Floor Covering Stores 8
Flooring Contractors 12
Florists 19
Fluid Milk Manufacturing 2
Food (Health) Supplement Stores 6
Food Service Contractors 21
Footwear and Leather Goods Repair 2
Formal Wear and Costume Rental 4
Fossil Fuel Electric Power Generation 2
Framing Contractors 1
Freight Transportation Arrangement 3
Full-Service Restaurants 111
Funeral Homes and Funeral Services 9
Furniture Merchant Wholesalers 5
Furniture Stores 21
General Automotive Repair 30
General Freight Trucking, Local 7
General Medical and Surgical Hospitals 3
General Rental Centers 6
General Warehousing and Storage 5
Gift, Novelty, and Souvenir Stores 27
Glass and Glazing Contractors 3
Golf Courses and Country Clubs 4
Grantmaking Foundations 3
Graphic Design Services 12
Hardware Manufacturing 1
Hardware Merchant Wholesalers 3
Hardware Stores 8
Hazardous Waste Treatment and Disposal 1
Historical Sites 2
Hobby, Toy, and Game Stores 10
Home Centers 2
Home Furnishing Merchant Wholesalers 4
Home Health Care Services 6
Home Health Equipment Rental 6
Homes for the Elderly 3
Household Appliance Stores 9
Human Rights Organizations 1
Industrial Launderers 1
Insurance Agencies and Brokerages 112
Interior Design Services 4
Internet Service Providers 2
Investigation Services 1
Investment Advice 16
Iron and Steel Mills 1
Janitorial Services 35
Jewelry Stores 19
Kidney Dialysis Centers 3
Land Subdivision 2
Landscape Architectural Services 1
Landscaping Services 29
Language Schools 1
Lessors of Other Real Estate Property 4
Limited-Service Restaurants 113
Limousine Service 2
Livestock Merchant Wholesalers 2
Local Messengers and Local Delivery 5
Locksmiths 5
Machine Shops 13
Mail-Order Houses 4
Marine Cargo Handling 1
Marketing Consulting Services 2
Masonry Contractors 11
Mattress Manufacturing 1
Meat Markets 4
Media Representatives 2
Medical Laboratories 3
Men's Clothing Stores 9
Metal Heat Treating 1
Metal Household Furniture Manufacturing 1
Mortgage and Nonmortgage Loan Brokers 9
Motor Vehicle Towing 5
Motorcycle Dealers 3
Museums 2
Musical Groups and Artists 4
Musical Instrument and Supplies Stores 6
Nail Salons 7
Narrow Fabric Mills 1
Navigational Services to Shipping 1
New Car Dealers 12
New Housing Operative Builders 1
News Dealers and Newsstands 1
Newspaper Publishers 6
Nonresidential Property Managers 8
Nursing Care Facilities 9
Office Administrative Services 11
Office Equipment Merchant Wholesalers 4
Office Supplies and Stationery Stores 5
Offices of Certified Public Accountants 31
Offices of Chiropractors 28
Offices of Dentists 77
Offices of Lawyers 129
Offices of Optometrists 14
Offices of Other Holding Companies 1
Offices of Podiatrists 7
Offices of Real Estate Appraisers 11
One-Hour Photofinishing 1
Ophthalmic Goods Merchant Wholesalers 3
Optical Goods Stores 9
Outdoor Power Equipment Stores 3
Packaging and Labeling Services 2
Packing and Crating 1
Paging 1
Paint and Wallpaper Stores 8
Painting and Wall Covering Contractors 18
Paper (except Newsprint) Mills 1
Parking Lots and Garages 15
Passenger Car Rental 18
Periodical Publishers 1
Perishable Prepared Food Manufacturing 1
Pet and Pet Supplies Stores 6
Pet Care (except Veterinary) Services 3
Pharmacies and Drug Stores 26
Photography Studios, Portrait 10
Pipeline Transportation of Natural Gas 1
Political Organizations 3
Port and Harbor Operations 2
Portfolio Management 9
Precision Turned Product Manufacturing 1
Prepress Services 1
Private Mail Centers 5
Professional Employer Organizations 4
Professional Organizations 5
Quick Printing 4
Racetracks 1
Radio Networks 1
Radio Stations 3
Railroad Rolling Stock Manufacturing 1
Ready-Mix Concrete Manufacturing 4
Real Estate Credit 5
Recreational Vehicle Dealers 1
Rendering and Meat Byproduct Processing 1
Residential Property Managers 15
Residential Remodelers 20
Retail Bakeries 5
Reupholstery and Furniture Repair 3
Roofing Contractors 8
Rooming and Boarding Houses 7
Savings Institutions 2
Scheduled Passenger Air Transportation 5
School and Employee Bus Transportation 2
Securities Brokerage 21
Security Guards and Patrol Services 3
Sheet Metal Work Manufacturing 3
Shoe Stores 19
Siding Contractors 5
Sign Manufacturing 2
Site Preparation Contractors 13
Snack and Nonalcoholic Beverage Bars 15
Soap and Other Detergent Manufacturing 1
Software Publishers 3
Solid Waste Collection 2
Sporting Goods Stores 17
Sports and Recreation Instruction 5
Sports Teams and Clubs 2
Storage Battery Manufacturing 1
Tax Preparation Services 12
Taxi Service 3
Telecommunications Resellers 1
Telemarketing Bureaus 5
Telephone Answering Services 1
Television Broadcasting 4
Temporary Help Services 25
Temporary Shelters 4
Testing Laboratories 2
Theater Companies and Dinner Theaters 3
Tile and Terrazzo Contractors 2
Tire Dealers 8
Title Abstract and Settlement Offices 2
Tobacco Stores 3
Travel Agencies 5
Used Car Dealers 7
Used Household and Office Goods Moving 4
Used Merchandise Stores 14
Veterinary Services 9
Video Tape and Disc Rental 13
Vocational Rehabilitation Services 6
Voluntary Health Organizations 5
Warehouse Clubs and Supercenters 2
Water Supply and Irrigation Systems 2
Wholesale Trade Agents and Brokers 20
Window Treatment Stores 2
Wired Telecommunications Carriers 19
Women's Clothing Stores 26
Wood Office Furniture Manufacturing 1

Choosing a Company Name

Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.

Before you decide on a company name, run it by some prospective customers and see what they think. If they don't like it, it's probably a good idea to go back to the drawing board.

For other considerations regarding naming a company, we recommend this article: Branding Advice.

There's one other important factor when naming a business. Since you are planning on starting a business in Peoria, it's critical that you ensure that no other Illinois company is using the business name you want to use.

Where to Get Money to Start a Company

Getting your Peoria business the capital it needs to succeed is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.

Take advantage of our many articles on securing funding, such as SBIR Funding.

For Peoria 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 Venture

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

We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Direct Mail Costs is an article that will generate a few thoughts on your marketing plan. That's just one of the many useful articles we have on Marketing a Small Business.

The Art of Selling

Do you know how to sell? In order to attract customers to your new Peoria business, you need to focus on sales.

Why should customers buy from you instead of buying from competitors? Let us help you refine your selling techniques through our many useful sales advice tips.

Selling Products on eBay is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.

Moving Forward

As an entrepreneur in Peoria, 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.

We are here to help Peoria businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Peoria 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 Peoria, Illinois

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

 

 

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