Maine Business Startup Guides
Opening a Business in Saco, Maine
Contemplating starting a business in Saco, Maine? We walk you through the process of opening a business in Saco.
Saco, Maine Demographic Information
Saco has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Saco demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Saco.
Businesses
As a new Saco entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Saco 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?
Visit the business district of Saco and you'll see that franchises make up a large percentage of local businesses. But is franchising the right option for you?
Our advice is to investigate buying a franchise. This site has dozens of articles on franchising, such as The Franchising Process. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
You can find franchise opportunities by browsing our Franchise Opportunities Directory.
Representative franchise opportunities include Baby Boot Camp (now Momleta) and Latino Income Tax. Alternatively, you can browse franchise categories, such as Dollar Store Franchises and Dry Cleaning & Laundry Franchises.
Note on Saco Franchise Opportunities: To find out if a franchise you are interested in is available in Saco, you will need to get in direct contact with the franchisor.
Should You Buy an Existing Saco Business?
If you have some capital to play with, you may want to Buy a Business in Maine. Follow that link and you may find several good businesses for sale in Saco.
If you are serious about buying a business, you may want to read this article: Hold Harmless Agreements When Buying Businesses.
Selecting a Name For Your Venture
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
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.
Numerous company naming issues are discussed in more detail in this article: Branding Advice.
There's one other important factor when naming a business. Since you are planning on starting a business in Saco, it's critical that you ensure that your company name has not already been claimed by another Maine business.
Company Formation in Saco, Maine
A critical step is ensuring 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 pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporating is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. Just because you are starting a business in Maine, it doesn't mean you are required to incorporate in Maine. As it turns out, you are allowed to 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'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 Nevada Incorporation. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Saco, Maine, our web page covering Incorporating in Maine may be a useful resource if you decide to incorporate in Maine.
Do You Need a Business Plan?
Having a business plan is vital in maximizing the prospects of your new company. 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.
If you want more information on writing business plans, we recommend reading Expert Advice on Business Plans. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Maine.
Bring in Revenues
Do you know how to sell? In order to attract customers to your new Saco 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.
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.
Never Give Up
As an entrepreneur in Saco, 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 Saco and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Saco 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 Saco, Maine
Here are more links that we believe will help you be successful in starting a business in Saco.
- Resources for Saco, Maine Entrepreneurs - Browse a variety of resources we've collected to assist Saco entrepreneurs.
- Maine Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Maine.
- Maine Small Business Development Center - Maine Small Business Development Centers and its technology-focused group, the Maine Small Business & Technology Development Centers, provide comprehensive business management assistance, training, resource and information services to Maine's entrepreneurs and small business owners.
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