August 6, 2020  
 
  Entrepreneurial Resources - Advice for Rhode Island Entrepreneurs  
  Warren, Rhode Island Resources for Entrepreneurs  
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Starting a Business in Warren, Rhode Island

Thinking about starting a business in Warren, Rhode Island? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Warren.

Will You Be a Good Entrepreneur?

Most new businesses don't make it, in part because the entrepreneur did not have the entrepreneurial skills and traits needed to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.

With so much at stake when you start a business, we strongly recommend you do the following before you proceed:

  • Talk to other entrepreneurs in Warren. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
  • We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
  • Seek the advice of somebody who knows you well. Others sometimes know you better than you know yourself.

What Type of Business Should You Start?

Choosing a business that is right for you is very important. To stir your creative juices on what kind of business to start, take a look at Good Business Ideas.

For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.

Remember that your new business will be in Warren. Some businesses will do better in Warren than others. A critical consideration is whether Warren demographics mesh well with your startup concept.

Warren, Rhode Island Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 4944
5-9 Employees 1504
10-19 Employees 960
20-49 Employees 768
50-99 Employees 192
100-249 Employees 144
250-499 Employees 48
500-999 Employees 0
1000+ Employees 0
All Warren Businesses 8560

As a new Warren entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Warren 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 5
Beer, Wine, and Liquor Stores 3
Boat Building 4
Boat Dealers 3
Bowling Centers 1
Building Inspection Services 1
Business Associations 1
Business to Business Electronic Markets 1
Cable and Other Program Distribution 1
Canvas and Related Product Mills 1
Cemeteries and Crematories 1
Child Day Care Services 5
Children's and Infants' Clothing Stores 1
Civic and Social Organizations 1
Coin-Operated Laundries and Drycleaners 1
Commercial Lithographic Printing 1
Commercial Screen Printing 2
Computer Systems Design Services 1
Convenience Stores 2
Couriers 1
Court Reporting and Stenotype Services 1
Credit Unions 1
Custom Computer Programming Services 2
Dental Laboratories 2
Diagnostic Imaging Centers 1
Display Advertising 1
Drinking Places (Alcoholic Beverages) 5
Electrical Contractors 4
Elementary and Secondary Schools 1
Environmental Consulting Services 1
Exam Preparation and Tutoring 2
Farm Supplies Merchant Wholesalers 1
Fine Arts Schools 1
Finish Carpentry Contractors 2
Fish and Seafood Merchant Wholesalers 2
Fitness and Recreational Sports Centers 1
Flooring Contractors 2
Florists 1
Framing Contractors 3
Fresh and Frozen Seafood Processing 1
Full-Service Restaurants 17
Funeral Homes and Funeral Services 2
Furniture Stores 1
General Automotive Repair 7
General Freight Trucking, Local 1
General Rental Centers 1
Gift, Novelty, and Souvenir Stores 1
Glass and Glazing Contractors 1
Golf Courses and Country Clubs 1
Hardware Stores 1
Heating Oil Dealers 1
Hobby, Toy, and Game Stores 1
Home Furnishing Merchant Wholesalers 2
Homes for the Elderly 2
Industrial Mold Manufacturing 1
Insurance Agencies and Brokerages 6
Investment Advice 1
Janitorial Services 4
Landscaping Services 8
Libraries and Archives 1
Limited-Service Restaurants 11
Luggage and Leather Goods Stores 1
Machine Shops 2
Marketing Consulting Services 2
Masonry Contractors 4
Medical Laboratories 1
Motor Vehicle Towing 1
Motorcycle Dealers 1
New Car Dealers 1
New Housing Operative Builders 1
Nursing Care Facilities 3
Office Administrative Services 3
Office Equipment Merchant Wholesalers 1
Offices of Certified Public Accountants 2
Offices of Chiropractors 2
Offices of Dentists 4
Offices of Lawyers 4
Offices of Other Holding Companies 1
Offices of Podiatrists 1
Painting and Wall Covering Contractors 2
Payroll Services 1
Pet Care (except Veterinary) Services 2
Pharmacies and Drug Stores 2
Photography Studios, Portrait 1
Quick Printing 1
Real Estate Credit 1
Residential Remodelers 8
Retail Bakeries 1
Reupholstery and Furniture Repair 2
Roofing Contractors 1
Rooming and Boarding Houses 1
Savings Institutions 2
School and Employee Bus Transportation 1
Securities Brokerage 1
Semiconductor Machinery Manufacturing 1
Setup Paperboard Box Manufacturing 1
Shellfish Fishing 1
Ship Building and Repairing 2
Shoe Stores 1
Siding Contractors 1
Sign Manufacturing 2
Silverware and Hollowware Manufacturing 1
Snack and Nonalcoholic Beverage Bars 8
Soap and Other Detergent Manufacturing 1
Sporting Goods Stores 3
Sports and Recreation Instruction 1
Theater Companies and Dinner Theaters 1
Tire Dealers 1
Title Abstract and Settlement Offices 1
Used Car Dealers 3
Used Merchandise Stores 2
Veterinary Services 1
Vocational Rehabilitation Services 1
Wholesale Trade Agents and Brokers 4
Wired Telecommunications Carriers 1

Should You Franchise?

Examine a list of Warren businesses and it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. But is franchising the right option for you?

Most business experts recommend that you look into purchasing a franchise. We have many articles on franchises, such as Common Franchisee Mistakes. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.

To learn about specific franchise opportunities, check out our Franchise Directory.

Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.

Note on Warren Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Warren.

Have You Considered Buying an Existing Warren Business?

An excellent way to get started in business is to Buy a Business in Rhode Island. Follow that link and you can review several good businesses for sale in Warren.

If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.

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.

Company names need to be easy to spell, easy to pronounce, and easy to remember.

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

As a final piece of advice, remember that because you are planning on starting a business in Warren, it's imperative that you check now that your company name has not already been claimed by another Rhode Island business.

Forming a Company in Warren, Rhode Island

A critical step is ensuring that you are forming a legal entity that operates independently from you. Among other things, forming a legal entity for the business limits your liabilities.

When forming a company, you will choose from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.

Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in Rhode Island, you don't necessarily have to incorporate in Rhode Island. 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Pre-Incorporation Agreements. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Warren, Rhode Island, our web page covering Incorporating in Rhode Island may be a useful resource if you decide to incorporate in Rhode Island.

The Role of the Business Plan

Creating a business plan is essential in laying a solid foundation for your business success. In effect, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan

Before you start writing a business plan, we suggest you skim Expert Advice on Business Plans. A great resource for business planning assistance is the free business counselors available to you through your local SCORE chapter in Rhode Island.

Getting Money to Start a Business

Raising money to fund your new Warren business will be harder than you might expect. In fact, financing your new business may be the hardest challenge you ever face.

To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.

For Warren entrepreneurs in need of startup financing, we have assembled a List of Rhode Island Angel Investors and our List of Rhode Island Venture Capital Firms.

Letting the World Know You Exist

To grow your Warren business, having an excellent marketing plan is fundamental to your business achieving its goals.

There are myriad resources on this site to help you with your marketing plan. Getting Publicity discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

Bring in Revenues

Mastering the art of selling is priority one if you want your new Warren business to do well.

The key to selling is to set sales goals goals and monitor your progress towards those goals. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Tips on Customer Referrals offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.

Advancing Your Entrepreneurial Skills

The best entrepreneurs recognize that what they know now may not be enough to ensure their future success.

As an entrepreneur who lives in Warren, Rhode Island, you should get information on some of the learning programs at local Rhode Island educational institutions. You should also check if there are any Warren networking organizations.

What's Next?

Most new Warren businesses underestimate the number of challenges they will face.

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

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

More Entrepreneurial Resources for Starting a Business in Warren, Rhode Island

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

 

 

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