Minnesota Business Startup Guides
Open a Business in Red Wing, Minnesota
Need help starting a business in Red Wing, Minnesota? We've got the information you need to open a business in Red Wing.
Are You Sure You Want to Do This?
Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.
Before you move forward with starting a business, be sure to do these three things:
- Talk to other entrepreneurs in Red Wing. Ask them candidly what it's like to run a business.
- We recommend reading Characteristics of Successful Entrepreneurs. For aspiring new entrepreneurs, it's a must read article.
- Seek the advice of somebody who knows you well. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
Which Business to Choose?
An important decision is what kind of business you want to start. To help you decide on a business type, we encourage you to 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 an Axles Retail Business guide or our Starting a Media Consultants Business guide.
Don't forget that your new startup will be located in Red Wing. The business you want to start may already be well-represented in Red Wing. Study Red Wing demographics and do a competitive analysis as part of your startup planning process.
Red Wing, Minnesota Demographic Information
Red Wing has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Red Wing demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Red Wing.
Businesses
As a new Red Wing entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Red Wing 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
Is Franchising a Better Option?
As you drive around Red Wing, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Our advice is to consider franchising as an option. We have many articles on franchises, such as The Franchising Process. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Representative franchise opportunities include Inner Circle and Snappy Tomato Pizza. Alternatively, you can browse franchise categories, such as Senior Care Franchises and Child Entertainment Franchises.
Note on Red Wing Franchise Opportunities: To find out if a franchise you are interested in is available in Red Wing, you will need to get in direct contact with the franchisor.
Forming a Company in Red Wing, Minnesota
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be 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. If you are starting a business in Minnesota, it doesn't mean you are required to incorporate in Minnesota. As it turns out, you can incorporate in any state you would like to. 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 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 Dissolving a Corporation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Red Wing, Minnesota, our information on Incorporating in Minnesota may be a useful resource if you decide to incorporate in Minnesota.
Letting the World Know You Exist
To grow your Red Wing business, you need a solid marketing plan.
We have some useful resources on this site for entrepreneurs who are working on marketing plans. National TV Spot Advertising Rates is a good read to get your marketing creativity flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Next Steps
You have a dream -- starting a business in Red Wing. To achieve your dream, you have to persevere, even when the odds are against you.
Owning your own business will be a daunting task, but you can do it.
We are here to help Red Wing businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Red Wing 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 Red Wing, Minnesota
Here are more links that we believe will help you be successful in starting a business in Red Wing.
- Resources for Red Wing, Minnesota Entrepreneurs - Browse a variety of resources we've collected to assist Red Wing entrepreneurs.
- Minnesota Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Minnesota.
- Minnesota Small Business Development Center - The Minnesota Small Business Development Centers provide no-cost, professional business consulting to Minnesota small businesses covering a variety of business needs.
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