August 12, 2020  
 
  Entrepreneurial Resources - Advice for South Dakota Entrepreneurs  
  Wagner, South Dakota Resources for Entrepreneurs  
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Open a Business in Wagner, South Dakota

Need help starting a business in Wagner, South Dakota? We've got the information you need to open a business in Wagner.

Wagner, South Dakota Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 141
5-9 Employees 66
10-19 Employees 30
20-49 Employees 24
50-99 Employees 9
100-249 Employees 3
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Wagner Businesses 273

As a new Wagner entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Wagner 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
Automotive Parts and Accessories Stores 1
Beauty Salons 2
Bowling Centers 1
Child and Youth Services 1
Child Day Care Services 2
Civic and Social Organizations 1
Coin-Operated Laundries and Drycleaners 1
Community Food Services 1
Drinking Places (Alcoholic Beverages) 1
Electrical Contractors 2
Elementary and Secondary Schools 1
Fitness and Recreational Sports Centers 1
Flooring Contractors 1
Florists 1
Full-Service Restaurants 1
Funeral Homes and Funeral Services 1
General Automotive Repair 2
General Medical and Surgical Hospitals 2
Hardware Stores 1
Home Health Equipment Rental 1
Insurance Agencies and Brokerages 5
Limited-Service Restaurants 3
Masonry Contractors 1
Men's Clothing Stores 1
Musical Groups and Artists 1
New Car Dealers 1
Nursing Care Facilities 1
Office Administrative Services 1
Offices of Certified Public Accountants 1
Offices of Chiropractors 1
Offices of Dentists 1
Offices of Lawyers 2
Offices of Optometrists 1
Pharmacies and Drug Stores 1
Residential Remodelers 2
Solid Waste Collection 1
Used Merchandise Stores 1
Video Tape and Disc Rental 1
Water Supply and Irrigation Systems 1
Wholesale Trade Agents and Brokers 1

Have You Considered Franchising?

As you drive around Wagner, it's apparent that franchising has become a very popular way to start a business. Evidently, there must be some significant advantages to purchasing a franchise.

We advise the entrepreneurs we work with to investigate buying a franchise. We have many articles on franchises, such as Franchising and Veterans. 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.

Representative franchise opportunities include Spray Tan of America and Glamour Secrets. Alternatively, you can browse franchise categories, such as Healthy Alternative Foods Franchises and Payroll Service Franchises.

Note on Wagner Franchise Opportunities: To find out if a franchise you are interested in is available in Wagner, you will need to get in direct contact with the franchisor.

Have You Considered Buying an Existing Wagner Business?

An excellent way to get started in business is to Buy a Business in South Dakota. Follow that link and you may find several good businesses for sale in Wagner.

For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.

Naming the Business

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.

Pick a company name that isn't too generic. If you do a search engine search for your proposed name and a billion results come up, you may want to reconsider the name. It's much easier to come up in the search engines when your name is fairly unique.

To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.

As a final piece of advice, remember that because you are planning on starting a business in Wagner, it's critical that you ensure that no other South Dakota company is using the business name you want to use.

Forming a Company in Wagner, South Dakota

It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.

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 South Dakota, it doesn't mean you are required to incorporate in South Dakota. In fact, you are allowed to incorporate wherever you want. 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. To learn the fundamentals of company formation, browse articles on our site, such as ESOP Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Wagner, South Dakota, our information on Incorporating in South Dakota may be a useful resource if you decide to incorporate in South Dakota.

Don't Skip the Business Plan

A business plan is vital to the health of your new business. In effect, your business plan is your game plan for how you hope to grow your business. Failure to write a business plan is a recipe for disaster.

If you want more information on writing business plans, we recommend reading Business Plan Contests. You should also take advantage of free business counselors available to you through your local SCORE chapter in South Dakota.

Never Give Up

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

Owning your own business will be a daunting task, but you can do it.

We are here to help Wagner businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Wagner, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Wagner, South Dakota

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

 

 

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