Utah Business Startup Guides
Opening a Business in Park City, Utah
Contemplating starting a business in Park City, Utah? We walk you through the process of opening a business in Park City.
What Business to Start
There are many businesses that you can start. How do you know which type of business is right for you? If you are struggling with what type of business to start, read How to Evaluate a Business 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 Opening a Dental Insurance Agency guide or our How to Start a Musical Instruments Amplifier Repair Business guide.
Always keep in mind that Park City is the place where you are starting a business. Some businesses will do better in Park City than others. Only by spending some time analyzing Park City demographics can you decide if there will be strong demand for your business idea.
Park City, Utah Demographic Information
Park City has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Park City demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Park City.
Businesses
As a new Park City entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Park City 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 Franchising Opportunities?
As you drive around Park City, you'll see that franchises make up a large percentage of local businesses. Is franchising maybe a better way for you to start your business?
We highly recommend you consider franchising as an option. To help you learn more about franchising, we've gathered a ton of articles on franchising, including Franchise Due Diligence. 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 Saladworks, Inc. and Sutton. Alternatively, you can browse franchise categories, such as Closet Design and Construction Franchises and Payroll Service Franchises.
Note on Park City Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Park City.
Company Formation in Park City, Utah
It's essential that you are forming a legal entity that operates independently from you. 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 corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating is a very popular way to form a business. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in Utah, you don't necessarily have to incorporate in Utah. As it turns out, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There's a lot to know about forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Registered Agents. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Park City, Utah, our web page covering Incorporating in Utah may be a useful resource if you decide to incorporate in Utah.
Don't Forget to Create a Business Plan
A business plan is essential to the health of your new business. Simply put, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.
To learn more about business plans, read Free Business Plan Templates. You should also take advantage of free business counselors available to you through your local SCORE chapter in Utah.
Building Up Your Sales
Do you know how to sell? In order to attract customers to your new Park City business, you need to focus on sales.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
Compensating Sales People offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
What's Next?
As an entrepreneur in Park City, you won't be working for the boss anymore. You are the boss.
From this point on, you control your own destiny.
We are here to help Park City businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Park City entrepreneur who is just getting started or you are already up and running with your new venture.
More Entrepreneurial Resources for Starting a Business in Park City, Utah
Here are more links that we believe will help you be successful in starting a business in Park City.
- Resources for Park City, Utah Entrepreneurs - Browse a variety of resources we've collected to assist Park City entrepreneurs.
- Utah Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Utah.
- Utah Small Business Development Center - The Utah Small Business Development Centers will lead the way in entrepreneurial education, advocacy, and business development statewide.
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