Idaho Business Startup Guides
Starting a Business in Sandpoint, Idaho
Thinking about starting a business in Sandpoint, Idaho? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Sandpoint.
Is Becoming an Entrepreneur Right for You?
Most new ventures don't make it, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Sandpoint. Get their take on what it's really like to be an entrepreneur.
- 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. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Sandpoint, Idaho Demographic Information
Sandpoint has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Sandpoint demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Sandpoint.
Businesses
As a new Sandpoint entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Sandpoint 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.
Businesses
What About Franchising Opportunities?
Examine a list of Sandpoint businesses and you may be surprised to see how many franchises there are in the area. But is franchising the right option for you?
We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as Common Franchisee Mistakes. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Sirloin Stockade and Worldwide Express. Alternatively, you can browse franchise categories, such as Seafood Restaurant Franchises and Baby Franchises.
Note on Sandpoint Franchise Opportunities: To find out if a franchise you are interested in is available in Sandpoint, you will need to get in direct contact with the franchisor.
Have You Considered Buying an Existing Sandpoint Business?
We've created a handy website page for those who want to Buy a Business in Idaho. Follow that link and you can assess several good businesses for sale in Sandpoint.
If you are headed down the path of buying a business, you may want to read this article: Buying a Business.
Raising Money for Your Startup
Getting your Sandpoint business the capital it needs to succeed is very difficult due to the ongoing business credit crunch. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Sandpoint entrepreneurs on the hunt for startup funding, browse our List of Idaho Angel Investors and our List of Idaho Venture Capital Firms.
Increase Your Entrepreneurial Knowledge
Successful entrepreneurs know that they don't know everything.
With your business being located in Sandpoint, Idaho, you will want to take advantage of the many programs available at nearby Idaho universities, colleges and community colleges. It's also worthwhile to see if there are any Sandpoint networking organizations.
Moving Forward
Most new Sandpoint businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Sandpoint and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Sandpoint 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 Sandpoint, Idaho
Here are more links that we believe will help you be successful in starting a business in Sandpoint.
- Resources for Sandpoint, Idaho Entrepreneurs - Browse a variety of resources we've collected to assist Sandpoint entrepreneurs.
- Idaho Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Idaho.
- Idaho Small Business Development Center - The Idaho Small Business Development Center (Idaho SBDC) is a university-based organization offering a wealth of free and low-cost services to help small businesses and entrepreneurs be successful.
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