Michigan Business Startup Guides
Opening a Business in Chatham, Michigan
Contemplating starting a business in Chatham, Michigan? We walk you through the process of opening a business in Chatham.
Choosing the Right Company to Start
There are many businesses that you can start. How do you know which type of business is right for you? You might get some good ideas about what kind of business to start by reading How to Evaluate a Business Idea.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Medical Transcription Business guide or our Starting a Sauna Baths Business guide.
Remember that you are starting a business in Chatham. Think about what needs are currently being underserved in Chatham. A critical consideration is whether Chatham demographics mesh well with your startup concept.
Chatham, Michigan Demographic Information
Chatham has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Chatham demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Chatham.
Businesses
As a new Chatham entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Chatham 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
Should You Franchise?
As you drive around Chatham, it's apparent that franchising has become a very popular way to start a business. But is franchising the right option for you?
We advise the entrepreneurs we work with to look into purchasing a franchise. We have many articles on franchises, such as The Franchising Process. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Sample franchise opportunities include SimplySold Real Estate and TGI Friday's. Alternatively, you can browse franchise categories, such as Accounting Franchises and Interior Environment Franchises.
Note on Chatham Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Chatham.
Forming a Company in Chatham, Michigan
It's essential that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be 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. If you are starting a business in Michigan, you don't necessarily have to incorporate in Michigan. As it turns out, you can incorporate in any state you would like to. 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 Registered Agents. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Chatham, Michigan, our information on Incorporating in Michigan may be a useful resource if you decide to incorporate in Michigan.
The Role of the Business Plan
A business plan is critical in laying a solid foundation for your business success. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Failure to write a business plan is a recipe for disaster.
Before you start writing a business plan, we suggest you skim Business Plan Contests. You should also take advantage of free business counselors available to you through your local SCORE chapter in Michigan.
Marketing Your New Business
Whether your goal is to attract Chatham customers or you plan on selling elsewhere, you need a great marketing plan.
We have some useful resources on this site for entrepreneurs who are working on marketing plans. Buying Radio Ads is an article that will stimulate a few thoughts on your marketing plan. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Never Give Up
As an entrepreneur in Chatham, 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 Chatham 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 Chatham, Michigan
Here are more links that we believe will help you be successful in starting a business in Chatham.
- Resources for Chatham, Michigan Entrepreneurs - Browse a variety of resources we've collected to assist Chatham entrepreneurs.
- Michigan Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Michigan.
- Michigan Small Business Development Center - This organization supports 12 regional offices and over 30 satellite offices, each providing counseling and training to Michigan small business owners and entrepreneurs throughout the 83 counties in Michigan. Services to entrepreneurs are offered through a cooperative agreement with the U.S. Small Business Administration.
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