Minnesota Business Startup Guides
Opening a Business in Willmar, Minnesota
Contemplating starting a business in Willmar, Minnesota? We walk you through the process of opening a business in Willmar.
Are You Ready for Entrepreneurship?
Most new ventures do not succeed, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you open a business, 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 Willmar. Listen closely to their experiences and see if you think you too can be successful.
- 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. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Willmar, Minnesota Demographic Information
Willmar has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Willmar demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Willmar.
Businesses
As a new Willmar entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Willmar 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 Willmar, 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. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Protecting Your Franchise Territory. 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 WindPath Sailing and Camille's Sidewalk Cafe. Alternatively, you can browse franchise categories, such as Framing Store Franchises and Juice Bar Franchises / Smoothie Franchises.
Note on Willmar Franchise Opportunities: To find out if a franchise you are interested in is available in Willmar, you will need to get in direct contact with the franchisor.
Have You Considered Buying an Existing Willmar Business?
We've created a handy website page for those who want to Buy a Business in Minnesota. Follow that link and you may find several good businesses for sale in Willmar.
If you are intent on buying a business, you may want to read this article: How to Buy a Business.
Company Formation in Willmar, Minnesota
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
The entity you form can be a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporation 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. Just because you are starting a business in Minnesota, it doesn't mean you are required to incorporate in Minnesota. In fact, you can incorporate in any state you would like to. 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's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Why Incorporate in Delaware. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Willmar, Minnesota, our information on Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.
Marketing Your New Venture
To rise above the crowd in Willmar and advance your business, you'll need to have a good marketing plan.
There are myriad resources on this site to help you with your marketing plan. Toll Free Numbers 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.
Improving Your Entrepreneurial Skillset
Successful entrepreneurs know that what they know now may not be enough to ensure their future success.
Given that you are starting a business in Willmar, Minnesota, you will want to take advantage of the learning programs at local Minnesota educational institutions. It's also beneficial to see if there are any networking organizations for Willmar entrepreneurs.
Never Give Up
Most new Willmar businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Willmar and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Willmar, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Willmar, Minnesota
Here are more links that we believe will help you be successful in starting a business in Willmar.
- Resources for Willmar, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Willmar entrepreneurs.
- Minnesota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Minnesota.
- Minnesota Small Business Development Center - The Minnesota Small Business Development Centers provide no-cost, professional business consulting to Minnesota small businesses covering a variety of business needs.
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