August 3, 2020  
 
  Entrepreneurial Resources - Advice for New York Entrepreneurs  
  Waterville, New York Resources for Entrepreneurs  
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Start a Business in Waterville, New York

Are you starting a business in Waterville, New York? This article discusses the most important things to consider when opening a business in Waterville.

Choosing the Right Company to Start

An important decision is what kind of business you want to start. We recommend that you read Free Business Ideas.

To view an extensive list of business types, complete with startup instructions, spend some time in the Good Businesses to Start section of our site. For example, you might be interested in our Starting an International Movers Business guide or our Starting a Pet Cemeteries Business guide.

Don't forget that you are starting a business in Waterville. Some businesses will do better in Waterville than others. Make sure you fully understand Waterville demographics before you lock in on your business idea.

Waterville, New York Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 777
5-9 Employees 315
10-19 Employees 126
20-49 Employees 105
50-99 Employees 0
100-249 Employees 21
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Waterville Businesses 1344

As a new Waterville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Waterville 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
Beer, Wine, and Liquor Stores 1
Civic and Social Organizations 1
Computer Systems Design Services 1
Finish Carpentry Contractors 1
Floor Covering Stores 1
Florists 1
Framing Contractors 1
Full-Service Restaurants 2
Funeral Homes and Funeral Services 1
General Automotive Repair 5
General Freight Trucking, Local 1
Hardware Stores 1
Heating Oil Dealers 1
Home Centers 1
Insurance Agencies and Brokerages 1
Janitorial Services 1
Landscaping Services 1
Limited-Service Restaurants 1
Newspaper Publishers 1
Nursing Care Facilities 1
Offices of Dentists 1
Offices of Lawyers 2
Outdoor Power Equipment Stores 1
Pet Care (except Veterinary) Services 1
Pharmacies and Drug Stores 1
Remediation Services 2
Residential Remodelers 1
Savings Institutions 1
Sawmills 1
Snack and Nonalcoholic Beverage Bars 1
Veterinary Services 1
Video Tape and Disc Rental 1
Wired Telecommunications Carriers 1

Have You Considered Franchising?

Examine a list of Waterville businesses and you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?

We highly recommend you look into purchasing a franchise. We have many articles on franchises, such as Detecting Franchising Scams. 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 Egismoz and Kolache Factory. Alternatively, you can browse franchise categories, such as Home Furnishings Franchises and Automotive Services Franchises.

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

Naming the Company

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: Naming a Business.

There's one other important factor when naming a business. Since you are planning on starting a business in Waterville, it's very important that you make sure no other New York company is using the business name you want to use.

Forming a Company in Waterville, New York

A critical step is ensuring 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.

Incorporation is a very common way to legally create a business entity. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in New York, you don't necessarily have to incorporate in New York. In fact, you can incorporate in the state of your choosing. 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 Registered Agents. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Waterville, New York, our information on Incorporating in New York may be a useful resource if you decide to incorporate in New York.

Don't Skip the Business Plan

Creating a business plan is vital to the health of your new business. Indeed, your business plan is your game plan for how you hope to grow your business. Not having a business plan

Before you start writing a business plan, we suggest you skim Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in New York.

What's Next?

You have a dream -- starting a business in Waterville. To achieve your dream, you have to persevere, even when the odds are against you.

From this point on, you control your own destiny.

We are here to help Waterville businesses to be successful. We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.

More Entrepreneurial Resources for Starting a Business in Waterville, New York

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

 

 

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