Washington Business Startup Guides
Start a Business in Sequim, Washington
Are you starting a business in Sequim, Washington? This article discusses the most important things to consider when opening a business in Sequim.
Which Business to Choose?
An important decision is what kind of business you want to start. We recommend that you read Good Business Ideas.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our Starting a Commercial Laundry guide or our Opening an Energy Engineers Business guide.
Don't forget that you are opening your new business in Sequim. Some businesses will do better in Sequim than others. Study Sequim demographics and do a competitive analysis as part of your startup planning process.
Sequim, Washington Demographic Information
Sequim has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Sequim demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Sequim.
As a new Sequim entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Sequim 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.
Is Franchising a Better Option?
As you drive around Sequim, 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. This site has dozens of articles on franchising, such as How to Find Financing for Franchises. Become a franchising expert of sorts by reading more of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Bounce Party Entertainment Center and EncouraGym. Alternatively, you can browse franchise categories, such as Accounting Franchises and Interior Environment Franchises.
Note on Sequim Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Sequim.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
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?
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
There's one other important factor when naming a business. Since you are planning on starting a business in Sequim, it's imperative that you check now that no other Washington company is using the business name you want to use.
Forming a Company in Sequim, Washington
It's essential that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating 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 Washington, you don't necessarily have to incorporate in Washington. In fact, you can incorporate in any state you would like to. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as How to Incorporate. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Sequim, Washington, our information on Incorporating in Washington may be a useful resource if you decide to incorporate in Washington.
The Role of the Business Plan
A business plan is critical in laying a solid foundation for your business success. Indeed, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Washington.
Never Give Up
Most new Sequim businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Sequim and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Sequim, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Sequim, Washington
Here are more links that we believe will help you be successful in starting a business in Sequim.
- Resources for Sequim, Washington Entrepreneurs - Browse a variety of resources we've collected to assist Sequim entrepreneurs.
- Washington Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Washington.
- Washington Small Business Development Center - Washington Small Business Development Centers promote economic vitality by providing advice, training and research to Washington entrepreneurs and existing Washington businesses.
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