Maine Business Startup Guides
Open a Business in Bangor, Maine
Need help starting a business in Bangor, Maine? We've got the information you need to open a business in Bangor.
Are You Ready for Life as an Owner?
Being an entrepreneur is demanding, much more arduous than working as an employee. Are you positive you want to start a business?
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Grab a meal or cofee with other entrepreneurs in Bangor. Listen closely to their experiences and see if you think you too can be successful.
- Take a look at Business Failure. It's a short article but it's a good reality check for those are about to jump into the world of entrepreneurship.
- Involve a spouse, family member or trusted friend in the decision. 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.
Bangor, Maine Demographic Information
Bangor has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Bangor demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Bangor.
Businesses
As a new Bangor entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Bangor 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
Is a Franchise Opportunity Right For You?
As you drive around Bangor, it's apparent that franchising has become a very popular way to start a business. Evidently, there must be some significant advantages to purchasing a franchise.
We highly recommend you consider franchising as an option. This site has dozens of articles on franchising, such as Questions to Ask Franchisors. 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 NuMarkets eBay Store and Coyote Canyon. Alternatively, you can browse franchise categories, such as Bakery Franchises and Moving Franchises.
Note on Bangor Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Bangor.
Selecting a Name For Your Venture
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.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
As a final piece of advice, remember that because you are starting a business in Bangor, it's critical that you ensure that your company name has not already been claimed by another Maine business.
Company Formation in Bangor, Maine
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.
When forming a company, you will choose from many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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 Maine, you don't necessarily have to incorporate in Maine. 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's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Subchapter S Corporations. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Bangor, Maine, our web page covering Incorporating in Maine may be a useful resource if you decide to incorporate in Maine.
Marketing Your New Company
To rise above the crowd in Bangor and build your business, having an excellent marketing plan is fundamental to your business achieving its goals.
We have some useful resources on this site for entrepreneurs who are working on marketing plans. Pricing and Positioning is an article that will generate a few thoughts on your marketing plan. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.
Never Give Up
As an entrepreneur in Bangor, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Bangor 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 Bangor, Maine
Here are more links that we believe will help you be successful in starting a business in Bangor.
- Resources for Bangor, Maine Entrepreneurs - Browse a variety of resources we've collected to assist Bangor entrepreneurs.
- Maine Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Maine.
- Maine Small Business Development Center - Maine Small Business Development Centers and its technology-focused group, the Maine Small Business & Technology Development Centers, provide comprehensive business management assistance, training, resource and information services to Maine's entrepreneurs and small business owners.
More Startup Articles for Maine Cities
Starting a Business in Augusta
Starting a Business in Bar Harbor
Browse All Business Startup Guides for Maine
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs