Oklahoma Business Startup Guides
Starting a Business in Drumright, Oklahoma
Thinking about starting a business in Drumright, Oklahoma? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Drumright.
Drumright, Oklahoma Demographic Information
Drumright has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Drumright demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Drumright.
Businesses
As a new Drumright entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Drumright 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?
Visit the business district of Drumright and you'll notice that many local entrepreneurs have gone the franchising route. Should you be giving franchising serious consideration?
Our advice is to consider franchising as an option. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Buying an Existing Franchise. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include SmallBizPros and Coffee Perks Franchise, Inc.. Alternatively, you can browse franchise categories, such as Accounting Franchises and Textile Repair Franchises.
Note on Drumright Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Drumright.
Have You Considered Buying an Existing Drumright Business?
An excellent way to get started in business is to Buy a Business in Oklahoma. Follow that link and you may find several good businesses for sale in Drumright.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Choosing a Company Name
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.
Company names need to be easy to spell, easy to pronounce, and easy to remember.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
As a final piece of advice, remember that because you are planning on starting a business in Drumright, it's very important that you make sure no Oklahoma company has already registered the company name you have selected.
Company Formation in Drumright, Oklahoma
It's very important that you choose the right legal structure for your new entity. Among other things, forming a legal entity for the business limits your liabilities.
When forming a company, you will pick from many company types, such as 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. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in Oklahoma, you don't necessarily have to incorporate in Oklahoma. 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 Why Incorporate in Delaware. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Drumright, Oklahoma, our web page covering Incorporating in Oklahoma may be a useful resource if you decide to incorporate in Oklahoma.
Getting Money to Start a Business
Obtaining startup financing for your Drumright business is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
Take advantage of our many articles on raising capital, such as 504 Loans.
For Drumright entrepreneurs with great ambition but a shortage of investment capital, we have assembled a List of Oklahoma Angel Investors and our List of Oklahoma Venture Capital Firms.
Now It's Up To You
You have a dream -- starting a business in Drumright. 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.
This site is all about helping entrepreneurs in Drumright 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 Drumright, Oklahoma
Here are more links that we believe will help you be successful in starting a business in Drumright.
- Resources for Drumright, Oklahoma Entrepreneurs - Browse a variety of resources we've collected to assist Drumright entrepreneurs.
- Oklahoma Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Oklahoma.
- Oklahoma Small Business Development Center - Whether you are in business or thinking about it, the Oklahoma Small Business Development Center staff can assist you. Their goal is to help Oklahoma entrepreneurs like you be more successful.
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