Maine Business Startup Guides
Opening a Business in Yarmouth, Maine
Contemplating starting a business in Yarmouth, Maine? We walk you through the process of opening a business in Yarmouth.
Are You Sure You Want to Do This?
Most new businesses do not succeed, in part because the founder did not have the tenacity and/or the skills to succeed. So, before you start your business, consider all of the implications of being an entrepreneur.
Here are three things we recommend you do before you fully commit to starting a new business of your own.
- Speak with other entrepreneurs in Yarmouth. 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.
Yarmouth, Maine Demographic Information
Yarmouth has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Yarmouth demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Yarmouth.
Businesses
As a new Yarmouth entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Yarmouth 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
Have You Considered Franchising?
As you drive around Yarmouth, you may be surprised to see how many franchises there are in the area. Should you be giving franchising serious consideration?
Most business experts recommend that you consider franchising as an option. On our site, you can read many articles about franchising, such as Common Franchisee Mistakes. Become a franchising expert of sorts by reading more of our Articles on Franchising.
You can review hundreds of franchise opportunities by browing our Franchise Directory.
Sample franchise opportunities include Cartridge Depot and Jet-Black. Alternatively, you can browse franchise categories, such as Bagel Franchises and eBay Franchises.
Note on Yarmouth Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Yarmouth.
Company Formation in Yarmouth, Maine
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will shield you from personal liability for business debts and obligations.
When forming a company, you will decide among many company types, such as a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
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. Just because you are starting a business in Maine, you don't necessarily have to incorporate in Maine. As it turns out, 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's a lot to know about forming a company. To learn the basics of company formation, browse articles on our site, such as Registered Agents. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Yarmouth, Maine, our web page covering Incorporating in Maine may be a useful resource if you decide to incorporate in Maine.
Raising Money for Your New Venture
Raising money to fund your new Yarmouth business requires strong organization skills and perseverance. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled Choosing VC Firms.
For Yarmouth entrepreneurs in need of startup financing, check out our List of Maine Angel Investors and our List of Maine Venture Capital Firms.
Bring in Revenues
Mastering the art of selling is a must if you want your new Yarmouth business to do well.
Clever sales techniques can transform any business from good to great. Fortunately, we've got plenty of good advice to help you improve your selling skills.
Hiring Telemarketing Firms to Generate Sales Leads offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Advancing Your Entrepreneurial Skills
Good entrepreneurs know that they need to continually improve.
As an entrepreneur who lives in Yarmouth, Maine, you should check out some of the many programs available at nearby Maine universities, colleges and community colleges. You should also check if there are any networking groups or organizations in which Yarmouth entrepreneurs get together to network and trade their business experiences.
Next Steps
Most new Yarmouth businesses underestimate the number of challenges they will face.
Owning your own business will be a daunting task, but you can do it.
This site is all about helping entrepreneurs in Yarmouth and elsewhere to achieve real success. 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 Yarmouth, Maine
Here are more links that we believe will help you be successful in starting a business in Yarmouth.
- Resources for Yarmouth, Maine Entrepreneurs - Browse a variety of resources we've collected to assist Yarmouth 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.
Starting-a-Business Guides for Other Cities in Maine
Starting a Business in Wiscasset
Starting a Business in York
Browse All Business Startup Guides for Maine
Starting a Business Guides for Other States
Share this article
Additional Resources for Entrepreneurs