Open a Business in Columbia, Kentucky

Are you starting a business in Columbia, Kentucky? This article discusses the most important things to consider when opening a business in Columbia.

Will You Be a Good Entrepreneur?

Most startup businesses fail, in part because the founder did not have the perseverance and abilities that are necessary to succeed. So, before jumping into the world of entrepreneurship, consider all of the implications of being an entrepreneur.

While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:

• Speak with other entrepreneurs in Columbia. They are usually very willing to share their insights on the ups and downs of being an entrepreneur.
• You should read Business Failure. It's a good read for those who are thinking about becoming an entrepreneur.
• Involve a spouse, family member or trusted friend in the decision. Others sometimes know you better than you know yourself.

What Business to Start

There are many businesses that you can start. How do you know which type of business is right for you? We recommend that you read Free 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 Starting a Newsletters Business guide or our Opening a Dump Trucking Business guide.

Remember that you are opening your new business in Columbia. Think about what needs are currently being underserved in Columbia. Study Columbia demographics and do a competitive analysis as part of your startup planning process.

Columbia, Kentucky Demographic Information

Columbia has an active business community that includes small businesses, mid-sized businesses and large businesses.

To give you a better feel for Columbia demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Columbia.

Business Size	# of Businesses
1-4 Employees	6034
5-9 Employees	3150
10-19 Employees	1890
20-49 Employees	1092
50-99 Employees	168
100-249 Employees	126
250-499 Employees	42
500-999 Employees	42
1000+ Employees	0
All Columbia Businesses	12544

As a new Columbia entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Columbia 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.

Business Type	# of Businesses
Automotive Parts and Accessories Stores	3
Automotive Transmission Repair	1
Beauty Salons	1
Boat Building	1
Business and Secretarial Schools	1
Business Associations	1
Cable and Other Program Distribution	1
Child and Youth Services	1
Child Day Care Services	6
Commercial Lithographic Printing	2
Community Food Services	1
Confectionery Merchant Wholesalers	1
Consumer Lending	2
Cut Stock, Resawing Lumber, and Planing	1
Discount Department Stores	1
Drilling Oil and Gas Wells	2
Drywall and Insulation Contractors	1
Electrical Contractors	3
Elementary and Secondary Schools	2
Engineering Services	1
Farm Supplies Merchant Wholesalers	1
Florists	3
Framing Contractors	2
Freight Transportation Arrangement	1
Full-Service Restaurants	8
Funeral Homes and Funeral Services	2
General Automotive Repair	2
General Freight Trucking, Local	6
General Medical and Surgical Hospitals	1
General Rental Centers	2
Gift, Novelty, and Souvenir Stores	1
Golf Courses and Country Clubs	1
Graphic Design Services	1
Hardware Stores	1
Home Centers	1
Home Health Care Services	4
Household Appliance Stores	1
Insurance Agencies and Brokerages	10
Junior Colleges	1
Limited-Service Restaurants	7
Machine Shops	1
Mail-Order Houses	1
Marinas	1
Meat Processed from Carcasses	1
Motorcycle Dealers	1
New Car Dealers	2
New Housing Operative Builders	1
Newspaper Publishers	2
Nursing Care Facilities	2
Office Administrative Services	1
Offices of Certified Public Accountants	1
Offices of Chiropractors	3
Offices of Dentists	3
Offices of Lawyers	6
Offices of Optometrists	1
Painting and Wall Covering Contractors	1
Pet Care (except Veterinary) Services	1
Pharmacies and Drug Stores	6
Public Relations Agencies	1
Radio Stations	1
Real Estate Credit	1
Roofing Contractors	2
Sawmills	3
Securities Brokerage	1
Sheet Metal Work Manufacturing	1
Shoe Stores	1
Site Preparation Contractors	3
Special Needs Transportation	1
Tax Preparation Services	1
Telecommunications Resellers	1
Temporary Help Services	1
Tire Dealers	2
Title Abstract and Settlement Offices	1
Tobacco Stores	2
Used Car Dealers	1
Veterinary Services	3
Video Tape and Disc Rental	2
Wholesale Trade Agents and Brokers	1
Wood Window and Door Manufacturing	1

Is Franchising a Better Option?

As you drive around Columbia, you may be surprised to see how many franchises there are in the area. Should you be giving franchising serious consideration?

We highly recommend you consider franchising as an option. On our site, you can read many articles about 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 Build-A-Bear Workshop and Contem 1g Franchising Ltda. Alternatively, you can browse franchise categories, such as Healthcare Services Franchises and Auto Sales Franchises.

Note on Columbia Franchise Opportunities: To find out if a franchise you are interested in is available in Columbia, you will need to get in direct contact with the franchisor.

Forming a Company in Columbia, Kentucky

A critical step is ensuring that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.

When forming a company, you will pick from 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. If you are starting a business in Kentucky, it doesn't mean you are required to incorporate in Kentucky. In fact, you can incorporate in the state of your choosing. 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 basics of company formation, browse articles on our site, such as C Corp Versus S Corp. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Columbia, Kentucky, our web page covering Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.

Marketing Your New Venture

To grow your Columbia business, having an excellent marketing plan is fundamental to your doing well.

You can learn plenty about marketing on our site. Making the Most of Trade Shows discusses marketing strategy and tactical marketing in a way that should get you thinking about how to creatively promote your business. There are many more articles on marketing on our site. Visit our Small Business Marketing resource section to see them all.

What's Next?

Most new Columbia 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 Columbia and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Columbia 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 Columbia, Kentucky

Here are more links that we believe will help you be successful in starting a business in Columbia.

• Resources for Columbia, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Columbia entrepreneurs.
• Kentucky Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Kentucky.
• Kentucky Small Business Development Center - The Kentucky Small Business Development Center (KSBDC) has been assisting Kentucky small business community for more than 25 years. KSBDC is co-sponsored by the U.S. Small Business Administration and is administered by the University of Kentucky in partnership with regional universities, community and private colleges, and the private sector.
• Columbia, Kentucky Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Columbia, Kentucky newspapers, including ad costs for newspapers serving the Columbia area.
• Columbia, Kentucky Radio Advertising Prices - To help you in your marketing efforts, we've gathered radio advertising rates for Columbia, Kentucky area radio stations.

Starting-a-Business Guides for Other Cities in Kentucky
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Starting a Business in Corbin

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