If anyone searches for the best ski destinations in the US, Vail Valley is sure to come up high on the list. Boasting the largest ski mountain in Colorado, it has become not just a go-to for winter sports, but also a lively hub for retail, dining, lodging, and events.
As Vail Valley continues to attract ski enthusiasts and just about any tourist wanting to visit the mountains, entrepreneurs have taken a keen interest in opening businesses in this vibrant small town.
Thinking of starting a business in Vail Valley? Here are a few things to keep in mind.
There are some costs to consider
As with starting any company, there are several factors to look at when setting up a business in Vail Valley in terms of practicality. One of the more pressing ones is considering the costs. When you start a limited liability company in Colorado, or any similar kind of business, you will need to pay filing fees for reserving a business name, filing a trade name, and registering a trademark — all between $20 and $30. Filing your business’s articles of organization will require you to pay approximately $50, and submitting the required annual report for businesses costs around $10 online.
On top of that, you need to consider fees for licenses, permits, and insurance, the costs of which will depend on the size and kind of business you are starting. This may seem like a small amount, but they can add up when launching your business, and thus calls for careful consideration when starting a business in Vail Valley.
It’s becoming tech-forward
Vail Valley isn’t Silicon Valley, but it’s taking steps in the right direction, especially in response to COVID-19. There are plenty of learning opportunities with the likes of Google, which offers workshops on digital marketing to affected businesses in the area. The tech giant talked about various digital platforms, teaching owners in Vail Valley how to use these tools to sustain their businesses through the pandemic.
Early this year as well, the Vail Valley Foundation pushed through with their pre-pandemic plans for their summer events, but with digital solutions. Despite replacing all in-person activities, Vail Valley Foundation still managed to stay true to its cultural roots. The foundation was able to gather audiences to join in on the fun through a digital screening of its notable staples, such as its annual music and dance festivals.
Starting a business in Vail Valley entails adapting to this digital wave — not only for convenience, but also for the safety, security, and sustainability of your business in the long term.
Small businesses are shaping the landscape
Despite intimidating hurdles for new businesses right now, one thing that keeps Vail Valley interesting is that it is home to many small players. In fact, around 99.5% of companies in the Centennial State are small businesses. This is largely due to existing regulations in the state in general being very startup friendly, providing attractive opportunities for opening a small business in Colorado in budding industries, such as daycare services, gyms and fitness centers, and digital marketing and advertising.
Vail Valley also benefits from a very supportive entrepreneurial community, which has helped lay the groundwork for the success of many small businesses in the area.
In the end, it’s all about gearing up for practical considerations and adapting to the cultural shifts of the town’s business environment while taking part in its supportive community. And all of this information should put you well on your way to starting your new venture in Vail Valley.