January 13, 2021  
 
  Entrepreneurial Resources - Advice for Indiana Entrepreneurs  
  Winamac, Indiana Resources for Entrepreneurs  
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Opening a Business in Winamac, Indiana

Contemplating starting a business in Winamac, Indiana? We walk you through the process of opening a business in Winamac.

Are You Ready for the Challenges of Being an Entrepreneur?

Most startup ventures don't make it, in part because the business owner did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.

Here are three things we recommend you do before you fully commit to starting a new business of your own.

  • Speak with other entrepreneurs in Winamac. Listen closely to their experiences and see if you think you too can be successful.
  • You should read Starting a Company. It's a good read for those who are thinking about becoming an entrepreneur.
  • Talk it over with a close friend or partner. 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.

Winamac, Indiana Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 357
5-9 Employees 183
10-19 Employees 81
20-49 Employees 30
50-99 Employees 18
100-249 Employees 9
250-499 Employees 0
500-999 Employees 3
1000+ Employees 0
All Winamac Businesses 681

As a new Winamac entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Winamac 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
Amusement Arcades 1
Animal (except Poultry) Slaughtering 1
Automotive Parts and Accessories Stores 3
Beauty Salons 3
Beer and Ale Merchant Wholesalers 1
Beer, Wine, and Liquor Stores 2
Cable and Other Program Distribution 1
Child Day Care Services 1
Civic and Social Organizations 5
Coin-Operated Laundries and Drycleaners 1
Commercial Lithographic Printing 1
Commercial Screen Printing 1
Computer and Software Stores 1
Drinking Places (Alcoholic Beverages) 1
Educational Support Services 1
Electronic Shopping 1
Farm Supplies Merchant Wholesalers 1
Finish Carpentry Contractors 1
Floor Covering Stores 1
Florists 3
Full-Service Restaurants 7
Funeral Homes and Funeral Services 1
Furniture Stores 1
General Automotive Repair 2
General Freight Trucking, Local 1
General Medical and Surgical Hospitals 1
Golf Courses and Country Clubs 1
Grantmaking Foundations 1
Hardware Stores 2
Household Appliance Stores 1
Insurance Agencies and Brokerages 5
Investment Advice 2
Iron and Steel Mills 1
Janitorial Services 1
Jewelry Stores 1
Landscaping Services 1
Limited-Service Restaurants 5
Machine Shops 1
Manufactured (Mobile) Home Dealers 1
Masonry Contractors 1
Motor Vehicle Body Manufacturing 1
Motorcycle Dealers 1
New Car Dealers 5
Newspaper Publishers 1
Nonresidential Property Managers 1
Nursing Care Facilities 2
Offices of Certified Public Accountants 1
Offices of Chiropractors 2
Offices of Dentists 4
Offices of Lawyers 8
Offices of Optometrists 1
Pharmacies and Drug Stores 1
Professional Organizations 1
Radio Stations 1
Ready-Mix Concrete Manufacturing 1
Residential Remodelers 2
Savings Institutions 1
Securities Brokerage 4
Site Preparation Contractors 2
Sporting Goods Stores 1
Tax Preparation Services 3
Tire Dealers 3
Title Abstract and Settlement Offices 2
Tobacco Stores 1
Used Car Dealers 3
Vending Machine Operators 1
Veterinary Services 2
Video Tape and Disc Rental 2
Wired Telecommunications Carriers 1
Women's Clothing Stores 1

Forming a Company in Winamac, Indiana

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 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 Indiana, you don't necessarily have to incorporate in Indiana. In fact, you can 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 Incorporation Advice. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Winamac, Indiana, our information on Incorporating in Indiana may be a useful resource if you decide to incorporate in Indiana.

Don't Forget to Create a Business Plan

Creating a business plan is vital in laying a solid foundation for your business success. Indeed, a business plan is a written description of the future you envision for your business. Starting a business without a business plan

To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Indiana.

Raising Money for Your New Venture

Getting your Winamac business the capital it needs to succeed will be harder than you might expect. If you don't have a rich uncle to fund you, you'll need to be creative in how you approach your fundraising efforts.

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

For Winamac entrepreneurs with great ambition but a shortage of investment capital, check out our List of Indiana Angel Investors and our List of Indiana Venture Capital Firms.

Marketing Your New Business

To grow your Winamac business, you'll need to have a good marketing plan.

We have some great resources on this site for entrepreneurs who are working on marketing plans. Advertising on Google discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. That's just a taste of the many useful articles we have on Marketing a Small Business.

Never Give Up

Most new Winamac 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 Winamac 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 Winamac, Indiana

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

 

 

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