Connecticut Business Startup Guides
Starting a Business in Colchester, Connecticut
Thinking about starting a business in Colchester, Connecticut? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Colchester.
Are You Sure You Want to Do This?
Before announcing to the world that you are going to start your own business, assess your entrepreneurial instincts and capabilities.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Colchester. Ask them candidly what it's like to run a business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Colchester, Connecticut Demographic Information
Colchester has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Colchester demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Colchester.
Businesses
As a new Colchester entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Colchester 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
Have You Considered Franchising?
As you drive around Colchester, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as How Franchises Work. Become a franchising expert of sorts by reading more of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Colchester Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Colchester.
Have You Considered Buying an Existing Colchester Business?
We've created a handy website page for those who want to Buy a Business in Connecticut. Follow that link and you can review several good businesses for sale in Colchester.
Before buying a business, be sure to read this article: Buying a Business.
Do You Need a Business Plan?
A business plan is essential to the health of your new business. In effect, 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 Software. You can also get face-to-face free consulting available from your local SCORE chapter in Connecticut.
Raising Money for Your New Venture
Obtaining startup financing for your Colchester business is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
To learn about raising money, we recommend you read the fundraising articles on our site, such as 504 Loans.
For Colchester entrepreneurs who want to raise money for a new venture, check out our List of Connecticut Angel Investors and our List of Connecticut Venture Capital Firms.
Next Steps
You have a dream -- starting a business in Colchester. To achieve your dream, you have to persevere, even when the odds are against you.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Colchester businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Colchester, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Colchester, Connecticut
Here are more links that we believe will help you be successful in starting a business in Colchester.
- Resources for Colchester, Connecticut Entrepreneurs - Browse a variety of resources we've collected to assist Colchester entrepreneurs.
- Connecticut Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Connecticut.
- Connecticut Small Business Development Center - Central Connecticut State University's Institute of Technology and Business Development (ITBD) supports Connecticut businesses and business-related organizations with training, technology assistance, conferencing services, procurement services and business incubation.
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