Minnesota Business Startup Guides

Opening a Business in Princeton, Minnesota

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

Are You Ready for the Challenges of Being an Entrepreneur?

Before announcing to the world that you are going to start your own business, assess your entrepreneurial instincts and capabilities.

To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:

  • Talk to other entrepreneurs in Princeton. 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.

Princeton, Minnesota Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
11158
5-9 Employees
3402
10-19 Employees
1890
20-49 Employees
1302
50-99 Employees
252
100-249 Employees
294
250-499 Employees
84
500-999 Employees
42
1000+ Employees
0
All Princeton Businesses
18424

As a new Princeton entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Princeton 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
Automobile Driving Schools
1
Automotive Glass Replacement Shops
2
Automotive Parts and Accessories Stores
3
Beauty Salons
5
Beer, Wine, and Liquor Stores
1
Book Stores
1
Bowling Centers
1
Casino Hotels
1
Child and Youth Services
1
Child Day Care Services
8
Civic and Social Organizations
7
Clothing Accessories Stores
1
Commercial Lithographic Printing
1
Commercial Screen Printing
1
Continuing Care Retirement Communities
1
Credit Unions
1
Distilleries
1
Drinking Places (Alcoholic Beverages)
3
Drywall and Insulation Contractors
3
Electrical Contractors
8
Elementary and Secondary Schools
5
Family Clothing Stores
1
Family Planning Centers
1
Finish Carpentry Contractors
8
Fitness and Recreational Sports Centers
2
Floor Covering Stores
1
Flooring Contractors
1
Florists
1
Full-Service Restaurants
13
Funeral Homes and Funeral Services
1
General Automotive Repair
6
General Medical and Surgical Hospitals
1
General Rental Centers
1
Gift, Novelty, and Souvenir Stores
1
Glass and Glazing Contractors
1
Hardware Merchant Wholesalers
1
Hardware Stores
1
Home Centers
1
Home Health Care Services
1
Household Appliance Stores
1
Insurance Agencies and Brokerages
4
Janitorial Services
3
Lessors of Other Real Estate Property
1
Limited-Service Restaurants
9
Livestock Merchant Wholesalers
1
Logging
2
Machine Shops
5
Mail-Order Houses
1
Masonry Contractors
10
Metal Stamping
1
Mortgage and Nonmortgage Loan Brokers
1
Motor Vehicle Towing
2
Motorcycle Dealers
1
New Car Dealers
2
New Housing Operative Builders
2
Newspaper Publishers
1
Office Administrative Services
1
Offices of Certified Public Accountants
1
Offices of Chiropractors
3
Offices of Dentists
4
Offices of Lawyers
3
Offices of Optometrists
1
Offices of Real Estate Appraisers
1
Painting and Wall Covering Contractors
10
Pharmacies and Drug Stores
1
Quick Printing
1
Radio Stations
1
Real Estate Credit
1
Recreational Vehicle Dealers
1
Residential Remodelers
8
Roofing Contractors
3
School and Employee Bus Transportation
1
Securities Brokerage
1
Shoe Stores
1
Siding Contractors
7
Sign Manufacturing
2
Site Preparation Contractors
4
Solid Waste Landfill
1
Special Needs Transportation
1
Sporting Goods Stores
1
Tax Preparation Services
2
Tile and Terrazzo Contractors
1
Tire and Tube Merchant Wholesalers
1
Title Abstract and Settlement Offices
1
Used Car Dealers
3
Veterinary Services
2
Wholesale Trade Agents and Brokers
2
Wired Telecommunications Carriers
2
Wood Window and Door Manufacturing
1

Don't Forget to Create a Business Plan

A business plan is critical to the health of your new business. Indeed, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.

To learn more about business plans, read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Minnesota.

Marketing Your New Venture

Whether your goal is to attract Princeton customers or you plan on selling elsewhere, having an excellent marketing plan is fundamental to your beating the competition.

We have some excellent resources on this site for entrepreneurs who are working on marketing plans. Marketing Research is a good read to get your marketing juices flowing. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Ramping Up Sales

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Princeton or are selling to customers throughout Minnesota, the United States or even the world, you have to be able to sell.

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.

Selling with Questions is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

Advancing Your Entrepreneurial Skills

Successful entrepreneurs know that they need to continually improve.

Given that you are starting a business in Princeton, Minnesota, you will want to take advantage of the learning programs at local Minnesota educational institutions. It's also beneficial to see if there are any networking groups or organizations in which Princeton entrepreneurs get together to network and trade their business experiences.

Never Give Up

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

From this point on, you control your own destiny.

Our goal here is to promote the vitality and growth of small businesses in Princeton and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Princeton 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 Princeton, Minnesota

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

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