January 24, 2021  
 
  Entrepreneurial Resources - Advice for Michigan Entrepreneurs  
  Royal Oak, Michigan Resources for Entrepreneurs  
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Opening a Business in Royal Oak, Michigan

Contemplating starting a business in Royal Oak, Michigan? We walk you through the process of opening a business in Royal Oak.

Are You Sure You Want to Do This?

Being an entrepreneur is difficult, much more arduous than working as an employee. Are you certain you are ready to take on this challenge?

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

  • Speak with other entrepreneurs in Royal Oak. Ask them candidly what it's like to run a business.
  • You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
  • Reach out to a trusted acquaintance. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.

Royal Oak, Michigan Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 2788
5-9 Employees 937
10-19 Employees 639
20-49 Employees 437
50-99 Employees 138
100-249 Employees 51
250-499 Employees 15
500-999 Employees 0
1000+ Employees 3
All Royal Oak Businesses 5008

As a new Royal Oak entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Royal Oak 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 9
Appliance Repair and Maintenance 2
Apprenticeship Training 1
Architectural Services 9
Art Dealers 6
Automobile Driving Schools 2
Automotive Exhaust System Repair 3
Automotive Parts and Accessories Stores 10
Automotive Transmission Repair 4
Baked Goods Stores 1
Barber Shops 1
Beauty Salons 24
Beer and Ale Merchant Wholesalers 1
Beer, Wine, and Liquor Stores 4
Blind and Shade Manufacturing 1
Book Publishers 1
Book Stores 5
Bowling Centers 3
Building Inspection Services 2
Business Associations 2
Cable and Other Program Distribution 1
Cafeterias 2
Canvas and Related Product Mills 1
Car Washes 6
Carpet and Upholstery Cleaning Services 5
Caterers 3
Cemeteries and Crematories 2
Child and Youth Services 4
Child Day Care Services 15
Civic and Social Organizations 5
Claims Adjusting 3
Coin-Operated Laundries and Drycleaners 1
Commercial Flexographic Printing 1
Commercial Lithographic Printing 4
Commercial Photography 8
Commercial Screen Printing 2
Community Food Services 2
Computer and Software Stores 2
Computer Facilities Management Services 1
Computer Systems Design Services 9
Confectionery Merchant Wholesalers 1
Consumer Lending 3
Convenience Stores 5
Convention and Trade Show Organizers 1
Cosmetology and Barber Schools 1
Court Reporting and Stenotype Services 1
Credit Unions 10
Custom Compounding of Purchased Resins 1
Custom Computer Programming Services 13
Dental Laboratories 1
Diagnostic Imaging Centers 2
Diet and Weight Reducing Centers 1
Direct Life Insurance Carriers 2
Direct Title Insurance Carriers 1
Document Preparation Services 1
Drafting Services 1
Drinking Places (Alcoholic Beverages) 11
Drywall and Insulation Contractors 3
Educational Support Services 1
Electric Power Distribution 2
Electrical Contractors 21
Electronic Shopping 3
Elementary and Secondary Schools 2
Employment Placement Agencies 2
Engineering Services 16
Environmental Consulting Services 1
Exam Preparation and Tutoring 1
Exterminating and Pest Control Services 1
Family Clothing Stores 3
Fine Arts Schools 6
Finish Carpentry Contractors 6
Fish and Seafood Merchant Wholesalers 1
Fitness and Recreational Sports Centers 3
Flight Training 1
Floor Covering Stores 4
Flooring Contractors 1
Florists 9
Food (Health) Supplement Stores 2
Food Service Contractors 2
Framing Contractors 3
Full-Service Restaurants 59
Funeral Homes and Funeral Services 4
Furniture Merchant Wholesalers 2
Furniture Stores 8
General Automotive Repair 17
General Freight Trucking, Local 3
General Medical and Surgical Hospitals 1
General Rental Centers 1
General Warehousing and Storage 1
Gift, Novelty, and Souvenir Stores 10
Golf Courses and Country Clubs 3
Graphic Design Services 19
Hand and Edge Tool Manufacturing 1
Hardware Stores 6
Hobby, Toy, and Game Stores 3
Home Furnishing Merchant Wholesalers 1
Home Health Care Services 1
Homes for the Elderly 7
Household Appliance Stores 1
Industrial Design Services 1
Insurance Agencies and Brokerages 27
Interior Design Services 4
Internet Service Providers 1
Investigation Services 2
Investment Advice 3
Iron and Steel Forging 2
Janitorial Services 9
Jewelry (except Costume) Manufacturing 1
Jewelry Stores 10
Land Subdivision 1
Landscape Architectural Services 1
Landscaping Services 16
Lessors of Other Real Estate Property 1
Libraries and Archives 2
Limited-Service Restaurants 44
Limousine Service 1
Locksmiths 1
Machine Shops 4
Mail-Order Houses 2
Marinas 1
Marketing Consulting Services 10
Marking Device Manufacturing 1
Masonry Contractors 1
Meat Markets 1
Media Representatives 3
Medical Laboratories 1
Men's Clothing Stores 2
Miscellaneous Intermediation 1
Mobile Food Services 1
Mortgage and Nonmortgage Loan Brokers 7
Motion Picture and Video Production 13
Motor Vehicle Metal Stamping 3
Motorcycle Dealers 1
Musical Groups and Artists 3
Musical Instrument and Supplies Stores 3
Nail Salons 1
New Car Dealers 4
New Housing Operative Builders 4
Newspaper Publishers 2
Nonresidential Property Managers 2
Nursing Care Facilities 2
Office Administrative Services 2
Office Equipment Merchant Wholesalers 1
Office Supplies and Stationery Stores 4
Offices of Certified Public Accountants 12
Offices of Chiropractors 11
Offices of Dentists 26
Offices of Lawyers 55
Offices of Optometrists 2
Offices of Other Holding Companies 1
Offices of Podiatrists 6
Offices of Real Estate Appraisers 8
Ophthalmic Goods Manufacturing 2
Optical Goods Stores 2
Outdoor Power Equipment Stores 2
Paint and Wallpaper Stores 4
Painting and Wall Covering Contractors 10
Passenger Car Rental 1
Payroll Services 1
Periodical Publishers 1
Pet and Pet Supplies Stores 6
Pet Care (except Veterinary) Services 3
Pharmacies and Drug Stores 9
Photography Studios, Portrait 6
Political Organizations 1
Portfolio Management 2
Prepress Services 2
Private Mail Centers 1
Professional Employer Organizations 5
Professional Organizations 1
Public Relations Agencies 2
Quick Printing 6
Radio Stations 2
Real Estate Credit 10
Recreational Vehicle Dealers 1
Residential Property Managers 4
Residential Remodelers 24
Retail Bakeries 1
Reupholstery and Furniture Repair 4
Roofing Contractors 3
Savings Institutions 5
School and Employee Bus Transportation 1
Securities Brokerage 4
Security Guards and Patrol Services 1
Shoe Stores 6
Sign Manufacturing 1
Site Preparation Contractors 5
Snack and Nonalcoholic Beverage Bars 14
Software Publishers 5
Solid Waste Collection 1
Sporting Goods Stores 7
Sports and Recreation Instruction 4
Tax Preparation Services 7
Taxi Service 3
Telecommunications Resellers 2
Temporary Help Services 4
Temporary Shelters 3
Theater Companies and Dinner Theaters 2
Tile and Terrazzo Contractors 4
Tire Dealers 3
Tobacco Stores 1
Tradebinding and Related Work 1
Travel Agencies 7
Used Household and Office Goods Moving 1
Used Merchandise Stores 9
Vending Machine Operators 1
Veterinary Services 6
Video Tape and Disc Rental 4
Vocational Rehabilitation Services 1
Voluntary Health Organizations 2
Warehouse Clubs and Supercenters 1
Wholesale Trade Agents and Brokers 16
Window Treatment Stores 1
Wired Telecommunications Carriers 5
Women's Clothing Stores 5

Naming the Company

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.

Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?

For other considerations regarding naming a company, we recommend this article: Naming a Company.

On a final note, given that you are starting a business in Royal Oak, it's critical that you ensure that no other Michigan company is using the business name you want to use.

Forming a Company in Royal Oak, Michigan

It's very important that you choose the right legal structure for your new entity. Doing so will protect you from personal liability for business debts and obligations.

The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.

Incorporation 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 Michigan, you don't necessarily have to incorporate in Michigan. In fact, you can incorporate in the state of your choosing. 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. To learn the fundamentals of company formation, browse articles on our site, such as C Corp Versus S Corp. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Royal Oak, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.

The Role of the Business Plan

Writing a business plan is essential 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. Failure to write a business plan will greatly reduce your chances of business success.

To learn more about business plans, read Business Plan Contests. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in Michigan.

How to Sell

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

So what does it take to bring in more prospects and close more business? The good news is we can help you to make selling a big competitve advantage for your new firm.

Anticipating Prospect Responses offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

Next Steps

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

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

This site is all about helping entrepreneurs in Royal Oak 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 Royal Oak, Michigan

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

 

 

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