Montana Business Startup Guides
Opening a Business in Terry, Montana
Contemplating starting a business in Terry, Montana? We walk you through the process of opening a business in Terry.
Are You Sure You Want to Do This?
Most new businesses fail, in part because the business owner did not have the entrepreneurial skills and traits needed to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.
Because entrepreneurship is not for everyone, we recommend you do the following to help you assess whether you should move forward with starting a business:
- Speak with other entrepreneurs in Terry. Ask them candidly what it's like to run a business.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. The people who know you best are often in the best position to tell you bluntly whether you will be a good entrepreneur.
What Business 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 Business Ideas That Don't Make Sense.
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 Starting a Picture Libraries Business guide or our Starting a Sewer Connections Business guide.
Remember that your new startup will be located in Terry. The business you want to start may already be well-represented in Terry. Only by spending some time analyzing Terry demographics can you decide if there will be strong demand for your business idea.
Terry, Montana Demographic Information
Terry has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Terry demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Terry.
Businesses
As a new Terry entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Terry 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 a Franchise Opportunity Right For You?
As you drive around Terry, you may be surprised to see how many franchises there are in the area. Should you be giving franchising serious consideration?
We advise the entrepreneurs we work with to consider franchising as an option. This site has dozens of articles on franchising, such as Franchise Marketing Support. Gain a solid understanding of franchising by scanning all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Rocky Mountain Chocolate Factory and Banfield, The Pet Hospital. Alternatively, you can browse franchise categories, such as Soccer Franchises and Payday Loan Franchises.
Note on Terry Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Terry.
Forming a Company in Terry, Montana
It's very important that you choose the right legal structure for your new entity. Doing so will insulate 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.
Incorporating is a very popular way to form a business. 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 Montana, you don't necessarily have to incorporate in Montana. In fact, you can incorporate in any state you would like to. 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. To learn the fundamentals of company formation, browse articles on our site, such as Company Formation. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Terry, Montana, our information on Incorporating in Montana may be a useful resource if you decide to incorporate in Montana.
The Role of the Business Plan
A business plan is vital to the health of your new business. Simply put, your business plan is your game plan for how you hope to grow your business. Starting a business without a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. A great resource for business planning assistance is the free counseling sessions provided by your local SCORE chapter in Montana.
The Art of Selling
Mastering the art of selling is a must if you want your new Terry business to do well.
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.
Landing Big Customers is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Next Steps
Most new Terry businesses underestimate the number of challenges they will face.
From this point on, you control your own destiny.
Our goal here is to promote the vitality and growth of small businesses in Terry and throughout the United States . We have a wealth of experience in business start-ups, financing, marketing, sales and more...and we've made all of our knowledge available to you.
More Entrepreneurial Resources for Starting a Business in Terry, Montana
Here are more links that we believe will help you be successful in starting a business in Terry.
- Resources for Terry, Montana Entrepreneurs - Browse a variety of resources we've collected to assist Terry entrepreneurs.
- Montana Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Montana.
- Montana Small Business Development Center - The Montana Small Business Development Centers focus on the creation, retention and expansion of Montana small businesses.
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