Florida Business Startup Guides
Start a Business in Orlando, Florida
Are you starting a business in Orlando, Florida? This article discusses the most important things to consider when opening a business in Orlando.
Will You Be a Successful Entrepreneur?
Most new companies don't make it, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
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 Orlando. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. Others sometimes know you better than you know yourself.
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 Good Business Ideas.
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 Opening a Collectible & Vintage Clothing Retail Business guide or our How to Start a Petroleum Oils Retail Business guide.
Always keep in mind that you are starting a business in Orlando. The business you want to start may already be well-represented in Orlando. A critical consideration is whether Orlando demographics mesh well with your startup concept.
Orlando, Florida Demographic Information
Orlando has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Orlando demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Orlando.
Businesses
As a new Orlando entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Orlando 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 Buying an Existing Orlando Business?
If you have some capital to play with, you may want to Buy a Business in Florida. Follow that link and you may find several good businesses for sale in Orlando.
Before buying a business, be sure to read this article: Buying a Business.
Forming a Company in Orlando, Florida
It's essential that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporation is a very common way to legally create a business entity. 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 Florida, you don't necessarily have to incorporate in Florida. In fact, 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Orlando, Florida, our information on Incorporating in Florida may be a useful resource if you decide to incorporate in Florida.
The Role of the Business Plan
Having 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 makes you more prone to becoming a business failure statistic.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the face-to-face free consulting available from your local SCORE chapter in Florida.
Ramping Up Sales
Mastering the art of selling is a must if you want your new Orlando business to do well.
Not knowing how to sell can result in lost customers and minimal market share. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Cold Call Selling offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Orlando Entrepreneur Interviews
Enjoy these interviews we've had with Orlando entrepreneurs.
- Interview with Dawn Veselka, Founder of Out of the Blue Delivered, Inc.
- Interview with Courtney Barnette, President of CommXperts
- Interview with Susan Greene, Freelance Copywriter
What's Next?
Most new Orlando businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
We are here to help Orlando businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Orlando, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Orlando, Florida
Here are more links that we believe will help you be successful in starting a business in Orlando.
- Resources for Orlando, Florida Entrepreneurs - Browse a variety of resources we've collected to assist Orlando entrepreneurs.
- Florida Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Florida.
- Florida Small Business Development Center - The Florida Small Business Development Center Network (FSBDCN) is a statewide economic development partnership between higher education and other stakeholder organizations dedicated to providing entrepreneurs and established businesses with the assistance needed to start, grow and succeed, contributing to the Florida economy.
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