August 8, 2020  
 
  Entrepreneurial Resources - Advice for Oklahoma Entrepreneurs  
  Wynnewood, Oklahoma Resources for Entrepreneurs  
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Opening a Business in Wynnewood, Oklahoma

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

Wynnewood, Oklahoma Demographic Information

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

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

Business Size# of
Businesses
1-4 Employees 135
5-9 Employees 36
10-19 Employees 21
20-49 Employees 9
50-99 Employees 3
100-249 Employees 3
250-499 Employees 0
500-999 Employees 0
1000+ Employees 0
All Wynnewood Businesses 207

As a new Wynnewood entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Wynnewood 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
Business Associations 1
Community Food Services 2
Convenience Stores 1
Electrical Contractors 1
Family Clothing Stores 1
Florists 1
Full-Service Restaurants 2
Furniture Stores 1
General Automotive Repair 1
Hat, Cap, and Millinery Manufacturing 1
Insurance Agencies and Brokerages 1
Limited-Service Restaurants 2
Masonry Contractors 4
Miscellaneous Intermediation 1
Newspaper Publishers 1
Nursing Care Facilities 1
Offices of Certified Public Accountants 2
Offices of Dentists 1
Offices of Lawyers 1
Pet Care (except Veterinary) Services 1
Petroleum Refineries 1
Pharmacies and Drug Stores 2
Site Preparation Contractors 1
Tax Preparation Services 1
Used Car Dealers 1
Veterinary Services 1
Water Supply and Irrigation Systems 1
Zoos and Botanical Gardens 1

Forming a Company in Wynnewood, Oklahoma

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. 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 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 Oklahoma, you don't necessarily have to incorporate in Oklahoma. In fact, you are allowed to 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 C Corp Versus S Corp. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Wynnewood, Oklahoma, our information on Incorporating in Oklahoma may be a useful resource if you decide to incorporate in Oklahoma.

Startup Financing Basics

Getting your Wynnewood business the capital it needs to succeed requires strong organization skills and perseverance. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

On the bright side, this site contains dozens of articles on raising money, including one we recommend entitled Getting a Small Business Loan.

For Wynnewood entrepreneurs who want to raise money for a new venture, check out our List of Oklahoma Angel Investors and our List of Oklahoma Venture Capital Firms.

Getting the Word Out About Your New Business

To rise above the crowd in Wynnewood and grow your business, having an excellent marketing plan is fundamental to your beating the competition.

There are myriad resources on this site to help you with your marketing plan. Internet Advertising is a good read to get your marketing ideas flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Bring in Revenues

Being able to sell is critical to your business success. Whether you are focused on selling local customers in Wynnewood or are selling to customers throughout Oklahoma, the United States or even the world, you have to be able to sell.

Clever sales techniques can transform any business from good to great. Fortunately, we've got plenty of good advice to help you improve your selling skills.

Why Salespeople Fail is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.

How to Improve Your Entrepreneurial Abilities

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

As an entrepreneur who lives in Wynnewood, Oklahoma, you will want to take advantage of the many programs available at nearby Oklahoma universities, colleges and community colleges. It's also wise to see if there are any networking organizations for Wynnewood entrepreneurs.

Never Give Up

You have a dream -- starting a business in Wynnewood. 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 Wynnewood businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Wynnewood, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Wynnewood, Oklahoma

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

 

 

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