Ohio Business Startup Guides
Opening a Business in Stow, Ohio
Contemplating starting a business in Stow, Ohio? We walk you through the process of opening a business in Stow.
What Type of Business Should You Start?
Choosing a business that is right for you is very important. You might get some good ideas about what kind of business to start by reading Free Business Ideas.
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 Underwater & Marine Photographers Business guide or our How to Start a Tobacco Warehouses Business guide.
Remember that starting a business in Stow has some implications. Some businesses will do better in Stow than others. Make sure you fully understand Stow demographics before you lock in on your business idea.
Stow, Ohio Demographic Information
Stow has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Stow demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Stow.
Businesses
As a new Stow entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Stow 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 Stow, you'll conclude that many business owners have opted to buy a franchise, rather than starting a business on their own. Would going with a franchise be a good idea for you?
We highly recommend you consider franchising as an option. We have many articles on franchises, such as Franchising and Veterans. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Vintner's Cellar Franchising International Inc. and ColorTyme Rent To Own. Alternatively, you can browse franchise categories, such as Child Education and Tutoring Franchises and Payday Loan Franchises.
Note on Stow Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Stow.
Naming the Company
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
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: Naming a Business.
On a final note, given that you are planning on starting a business in Stow, it's very important that you make sure no other Ohio company is using the business name you want to use.
Forming a Company in Stow, Ohio
A critical step is ensuring that you form your business as a legal structure. 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.
Incorporation 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 Ohio, you don't necessarily have to incorporate in Ohio. In fact, 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 Where to Incorporate. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Stow, Ohio, our information on Incorporating in Ohio may be a useful resource if you decide to incorporate in Ohio.
The Role of the Business Plan
A business plan is critical to the health of your new business. Simply put, a business plan describes what you plan to do with the business and how you plan to do it. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Ohio.
Learning More About Entrepreneurship
The best entrepreneurs recognize that they don't know everything.
As an entrepreneur who lives in Stow, Ohio, you will want to take advantage of the many programs available at nearby Ohio universities, colleges and community colleges. It's also beneficial to see if there are any networking groups or organizations in which Stow entrepreneurs get together to network and trade their business experiences.
Moving Forward
You have a dream -- starting a business in Stow. 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 Stow businesses to be successful. We want to be there for you to answer your business questions, whether you are a new Stow 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 Stow, Ohio
Here are more links that we believe will help you be successful in starting a business in Stow.
- Resources for Stow, Ohio Entrepreneurs - Browse a variety of resources we've collected to assist Stow entrepreneurs.
- Ohio Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Ohio.
- Ohio Small Business Development Center - Whether you're starting your business, expanding your business, or just looking to stay in business, the Small Business Development Centers of Ohio (SBDCs of Ohio) can help with professional guidance by connecting you with research, financing sources, and training opportunities.
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