North Carolina Business Startup Guides
Open a Business in Winston-Salem, North Carolina
Need help starting a business in Winston-Salem, North Carolina? We've got the information you need to open a business in Winston-Salem.
What Business Are You Starting?
There are many businesses that you can start. How do you know which type of business is right for you? To help you decide on a business type, we encourage you to read Good Business Ideas.
If you still are not sure what type of business to start, peruse the Good Businesses to Start section of our site. For example, you might be interested in our Opening a Russian Restaurant guide or our How to Start a Marble Tiles Business guide.
Don't forget that Winston-Salem is the place where you are starting a business. If Winston-Salem already has plenty of the kind of business you want to start, you might want to change your plans. Study Winston-Salem demographics and do a competitive analysis as part of your startup planning process.
Is Franchising a Better Option?
As you drive around Winston-Salem, you'll notice that many local entrepreneurs have gone the franchising route. Should you be giving franchising serious consideration?
We highly recommend you consider franchising as an option. This site has dozens of articles on franchising, such as Growth Trends in Franchising. Become a franchising expert of sorts by reading more of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Doc Chey's Asian Kitchen and Learning Express Toys. Alternatively, you can browse franchise categories, such as Flooring Franchises and Mexican Restaurant Franchises.
Note on Winston-Salem Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Winston-Salem.
Have You Considered Buying an Existing Winston-Salem Business?
We've created a helpful website page for those who want to Buy a Business in North Carolina. Follow that link and you may find several good businesses for sale in Winston-Salem.
For anybody who wants to buy a business, we recommend reading this useful article: Hold Harmless Agreements When Buying Businesses.
Company Formation in Winston-Salem, North Carolina
A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. The main advantage of forming your new business as a legal entity is that it separates your business liabilities from your personal liabilities.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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. Just because you are starting a business in North Carolina, you don't necessarily have to incorporate in North Carolina. In fact, you can incorporate wherever you want. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There's a lot to know about forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Dissolving a Corporation. You should also consider getting professional assistance from your business lawyer. Finally, if you are starting a business in Winston-Salem, North Carolina, our information on Incorporating in North Carolina may be a useful resource if you decide to incorporate in North Carolina.
The Role of the Business Plan
A business plan is critical in maximizing the prospects of your new company. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Reasons to Write a Business Plan. You can also get face-to-face free consulting available from your local SCORE chapter in North Carolina.
Ramping Up Sales
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Winston-Salem or are selling to customers throughout North Carolina, the United States or even the world, you have to be able to sell.
Good selling involves demonstrating that your wares meet your customer's needs. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Sales Forecasting offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Now It's Up To You
You have a dream -- starting a business in Winston-Salem. To achieve your dream, you have to persevere, even when the odds are against you.
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 Winston-Salem and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Winston-Salem, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Winston-Salem, North Carolina
Here are more links that we believe will help you be successful in starting a business in Winston-Salem.
- Resources for Winston-Salem, North Carolina Entrepreneurs - Browse a variety of resources we've collected to assist Winston-Salem entrepreneurs.
- North Carolina Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in North Carolina.
- North Carolina SBA - With offices in Charlotte, Wilmington, Raleigh and Asheville, the SBA organizes many events and provides useful resources for new entrepreneurs and growing businesses throughout North Carolina.
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