Kansas Business Startup Guides
Open a Business in Lawrence, Kansas
Need help starting a business in Lawrence, Kansas? We've got the information you need to open a business in Lawrence.
Lawrence, Kansas Demographic Information
Lawrence has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lawrence demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lawrence.
Businesses
As a new Lawrence entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lawrence 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
What About Buying an Existing Lawrence Business?
An excellent way to get started in business is to Buy a Business in Kansas. Follow that link and you can assess several good businesses for sale in Lawrence.
Before buying a business, be sure to read this article: How to Buy a Business.
Picking a Company Name
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 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.
On a final note, given that you are opening a business in Lawrence, it's critical that you ensure that your company name has not already been claimed by another Kansas business.
Forming a Company in Lawrence, Kansas
It's very important that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will select one of 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. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Kansas, it doesn't mean you are required to incorporate in Kansas. As it turns out, you can incorporate wherever you want. 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. To learn the fundamentals of company formation, browse articles on our site, such as C Corp Versus S Corp. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Lawrence, Kansas, our web page covering Incorporating in Kansas may be a useful resource if you decide to incorporate in Kansas.
Do You Need a 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.
To learn more about business plans, read The Art of the Executive Summary. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Kansas.
How to Sell
Do you know how to sell? In order to attract customers to your new Lawrence business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Sales Training is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.
Moving Forward
As an entrepreneur in Lawrence, 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.
This site is all about helping entrepreneurs in Lawrence and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Lawrence, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lawrence, Kansas
Here are more links that we believe will help you be successful in starting a business in Lawrence.
- Resources for Lawrence, Kansas Entrepreneurs - Browse a variety of resources we've collected to assist Lawrence entrepreneurs.
- Kansas Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kansas.
- Kansas Small Business Development Center - The KSBDC Network provides Kansas entrepreneurs and small business owners with knowledge, tools and resources to enhance their success. Contact them and they will help you identify your business needs and guide you toward opportunities and solutions.
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