Virginia Business Startup Guides
Starting a Business in Wirtz, Virginia
Thinking about starting a business in Wirtz, Virginia? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Wirtz.
Are You Sure You Want to Do This?
Running your own business is demanding, much harder than working as an employee. Are you sure you have the stamina and skills to succeed on your own?
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Wirtz. Ask them candidly what it's like to run a business.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Wirtz, Virginia Demographic Information
Wirtz has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Wirtz demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Wirtz.
Businesses
As a new Wirtz entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Wirtz 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
What About Franchising Opportunities?
As you drive around Wirtz, you'll see that franchises make up a large percentage of local businesses. But is franchising the right option for you?
Our advice is to consider franchising as an option. We have many articles on franchises, such as Franchising and Veterans. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Wirtz Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Wirtz.
Selecting a Name For Your Startup
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
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.
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
There's one other important factor when naming a business. Since you are starting a business in Wirtz, it's critical that you ensure that no other Virginia company is using the business name you want to use.
Company Formation in Wirtz, Virginia
It's essential that you are forming a legal entity that operates independently from you. Doing so will separate 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. Just because you are starting a business in Virginia, you don't necessarily have to incorporate in Virginia. 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'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 Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Wirtz, Virginia, our information on Incorporating in Virginia may be a useful resource if you decide to incorporate in Virginia.
Make Sure You Have a Business Plan
A business plan is critical in maximizing the prospects of your new company. Indeed, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Virginia.
Improving Your Entrepreneurial Skillset
Successful entrepreneurs know that what they know now may not be enough to ensure their future success.
With your business being located in Wirtz, Virginia, you will want to take advantage of the many programs available at nearby Virginia universities, colleges and community colleges. It's also worthwhile to see if there are any Wirtz networking organizations.
Next Steps
As an entrepreneur in Wirtz, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Wirtz and elsewhere to achieve real success. 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 Wirtz, Virginia
Here are more links that we believe will help you be successful in starting a business in Wirtz.
- Resources for Wirtz, Virginia Entrepreneurs - Browse a variety of resources we've collected to assist Wirtz entrepreneurs.
- Virginia Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Virginia.
- Virginia Small Business Development Center - Virginia Small Business Development Centers offer professional business counseling, training and information resources to help grow and strengthen Virginia businesses.
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