Wyoming Business Startup Guides
Open a Business in Torrington, Wyoming
Need help starting a business in Torrington, Wyoming? We've got the information you need to open a business in Torrington.
Are You Sure You Want to Do This?
Before announcing to the world that you are going to start your own business, consider your entrepreneurial instincts and capabilities.
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:
- Talk to other entrepreneurs in Torrington. Ask them candidly what it's like to run a business.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Torrington, Wyoming Demographic Information
Torrington has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Torrington demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Torrington.
Businesses
As a new Torrington entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Torrington 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
Have You Considered Franchising?
As you drive around Torrington, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
We highly recommend you investigate buying a franchise. We have many articles on franchises, such as How to Franchise a Business. Get a thorough education on franchising by browsing all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include Ellianos Coffee and Fox's Pizza Den. Alternatively, you can browse franchise categories, such as Dating Service Franchises and Mail and Shipping Services Franchises.
Note on Torrington Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Torrington.
Is Buying an Existing Torrington Business a Good Strategy?
If you have some capital to play with, you may want to Buy a Business in Wyoming. Follow that link and you may find several good businesses for sale in Torrington.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Don't Skip the Business Plan
A business plan is critical to the health of your new business. Indeed, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
If you want more information on writing business plans, we recommend reading Business Plan Outsourcing. You can also get free business counselors available to you through your local SCORE chapter in Wyoming.
Raising Money for Your New Venture
Finding the funds to fuel the growth of your Torrington business is not an easy task. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
To learn about raising money, we recommend you read the fundraising articles on our site, such as How to Raise Money.
For Torrington entrepreneurs with great ambition but a shortage of investment capital, browse our List of Wyoming Angel Investors and our List of Wyoming Venture Capital Firms.
Next Steps
You have a dream -- starting a business in Torrington. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Torrington and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Torrington, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Torrington, Wyoming
Here are more links that we believe will help you be successful in starting a business in Torrington.
- Resources for Torrington, Wyoming Entrepreneurs - Browse a variety of resources we've collected to assist Torrington entrepreneurs.
- Wyoming Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Wyoming.
- Wyoming Small Business Development Center - The Wyoming Small Business Development Center provides free and confidential consulting services to individual businesses, offers various products online of specific use to various businesses, sponsors affordable educational programs targeted at the small business community, and maintains links with various business resources throughout Wyoming and the nation.
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