Hawaii Business Startup Guides
Start a Business in Lahaina, Hawaii
Are you starting a business in Lahaina, Hawaii? This article discusses the most important things to consider when opening a business in Lahaina.
Are You Ready for Life as an Owner?
Before announcing to the world that you are going to start your own business, assess your entrepreneurial instincts and capabilities.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Talk to other entrepreneurs in Lahaina. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. 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.
Which Business to Choose?
An important decision is what kind of business you want to start. If you are struggling with what type of business to start, read Evaluating Your Idea.
For step-by-step instructions on starting a variety of business types, visit the Good Businesses to Start section of our site. For example, you might be interested in our How to Start a Table Tennis Business guide or our Starting a Plastic Rotational Molding Business guide.
Always keep in mind that you are starting a business in Lahaina. Some businesses will do better in Lahaina than others. Make sure you fully understand Lahaina demographics before you lock in on your business idea.
Lahaina, Hawaii Demographic Information
Lahaina has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lahaina demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lahaina.
Businesses
As a new Lahaina entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lahaina 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 Lahaina, you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. But is franchising the right option for you?
Our recommendation is that you evaluate the possibility of your buying a franchise opportunity. We have many articles on franchises, such as How to Find Financing for Franchises. Become a franchising expert of sorts by reading more of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Representative franchise opportunities include Shoes-N-Feet and Arabica Coffeehouse. Alternatively, you can browse franchise categories, such as Dollar Store Franchises and Dry Cleaning & Laundry Franchises.
Note on Lahaina Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Lahaina.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
For other considerations regarding naming a company, we recommend this article: Naming a Business.
There's one other important factor when naming a business. Since you are starting a business in Lahaina, it's very important that you make sure no other Hawaii company is using the business name you want to use.
Do You Need a Business Plan?
A business plan is critical in laying a solid foundation for your business success. In effect, a business plan is a written description of the future you envision for your business. Starting a business without a business plan is a recipe for disaster.
If writing a business plan is on your to-do list, be sure to read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Hawaii.
Building Up Your Sales
Being able to sell is a key enabler to your business success. Whether you are focused on selling local customers in Lahaina or are selling to customers throughout Hawaii, the United States or even the world, you have to be able to sell.
Why should customers buy from you instead of buying from competitors? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Compensating Sales People is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Never Give Up
You have a dream -- starting a business in Lahaina. 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 Lahaina 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 Lahaina, Hawaii
Here are more links that we believe will help you be successful in starting a business in Lahaina.
- Resources for Lahaina, Hawaii Entrepreneurs - Browse a variety of resources we've collected to assist Lahaina entrepreneurs.
- Hawaii Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Hawaii.
- Hawaii Small Business Development Center - The Hawaii SBDC Network provides you with the resources you need for starting a new business or expanding an existing one.
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