Are you starting a business in Covington, Louisiana? This article discusses the most important things to consider when opening a business in Covington.
Is Becoming an Entrepreneur Right for You?
Most startup ventures fail, in part because the business owner 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.
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:
- Reach out to other entrepreneurs in Covington. Get their take on what it's really like to be an entrepreneur.
- Peruse Should You Become an Entrepreneur?. This is one of our more popular articles for folks who want to go into business for themselves.
- Have a candid conversation with friends and family. That's the best way to get a truly objective assessment as to whether others think you have what it takes.
Covington, Louisiana Demographic Information
Covington has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Covington demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Covington.
| Business Size | # of
Businesses |
| 1-4 Employees |
23830 |
| 5-9 Employees |
7560 |
| 10-19 Employees |
5850 |
| 20-49 Employees |
3450 |
| 50-99 Employees |
1080 |
| 100-249 Employees |
660 |
| 250-499 Employees |
120 |
| 500-999 Employees |
90 |
| 1000+ Employees |
30 |
| All Covington Businesses |
42670 |
As a new Covington entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Covington 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 |
| Advertising Agencies |
3 |
| Appliance Repair and Maintenance |
3 |
| Architectural Services |
6 |
| Art Dealers |
1 |
| Automobile Driving Schools |
2 |
| Automotive Exhaust System Repair |
1 |
| Automotive Glass Replacement Shops |
2 |
| Automotive Parts and Accessories Stores |
6 |
| Automotive Transmission Repair |
1 |
| Baked Goods Stores |
1 |
| Barber Shops |
1 |
| Beauty Salons |
5 |
| Beer and Ale Merchant Wholesalers |
2 |
| Boat Dealers |
3 |
| Book Publishers |
1 |
| Book Stores |
1 |
| Breweries |
1 |
| Building Inspection Services |
1 |
| Business Associations |
4 |
| Cafeterias |
3 |
| Car Washes |
3 |
| Carpet and Upholstery Cleaning Services |
1 |
| Caterers |
1 |
| Cemeteries and Crematories |
1 |
| Child and Youth Services |
1 |
| Child Day Care Services |
15 |
| Claims Adjusting |
4 |
| Coin-Operated Laundries and Drycleaners |
1 |
| Collection Agencies |
1 |
| Commercial Gravure Printing |
1 |
| Commercial Lithographic Printing |
2 |
| Commercial Screen Printing |
1 |
| Computer and Software Stores |
2 |
| Computer Systems Design Services |
3 |
| Confectionery Merchant Wholesalers |
1 |
| Construction Sand and Gravel Mining |
1 |
| Consumer Lending |
13 |
| Continuing Care Retirement Communities |
1 |
| Convenience Stores |
5 |
| Convention and Trade Show Organizers |
2 |
| Cosmetology and Barber Schools |
1 |
| Couriers |
2 |
| Court Reporting and Stenotype Services |
3 |
| Credit Bureaus |
1 |
| Credit Unions |
2 |
| Curtain and Drapery Mills |
1 |
| Custom Computer Programming Services |
8 |
| Dental Laboratories |
4 |
| Diagnostic Imaging Centers |
3 |
| Diet and Weight Reducing Centers |
2 |
| Digital Printing |
2 |
| Direct Life Insurance Carriers |
1 |
| Directory and Mailing List Publishers |
1 |
| Discount Department Stores |
1 |
| Drafting Services |
2 |
| Drilling Oil and Gas Wells |
2 |
| Drinking Places (Alcoholic Beverages) |
3 |
| Drywall and Insulation Contractors |
2 |
| Educational Support Services |
1 |
| Electrical Contractors |
13 |
| Electronic Shopping |
1 |
| Elementary and Secondary Schools |
5 |
| Employment Placement Agencies |
4 |
| Engineering Services |
12 |
| Environmental Consulting Services |
3 |
| Exterminating and Pest Control Services |
3 |
| Facilities Support Services |
1 |
| Family Clothing Stores |
1 |
| Family Planning Centers |
1 |
| Farm Supplies Merchant Wholesalers |
2 |
| Finish Carpentry Contractors |
1 |
| Fish and Seafood Markets |
1 |
| Fitness and Recreational Sports Centers |
8 |
| Floor Covering Stores |
4 |
| Flooring Contractors |
5 |
| Florists |
1 |
| Food (Health) Supplement Stores |
2 |
| Food Service Contractors |
4 |
| Formal Wear and Costume Rental |
1 |
| Fossil Fuel Electric Power Generation |
1 |
| Framing Contractors |
3 |
| Freight Transportation Arrangement |
2 |
| Full-Service Restaurants |
43 |
| Funeral Homes and Funeral Services |
3 |
| Furniture Merchant Wholesalers |
1 |
| Furniture Stores |
9 |
| General Automotive Repair |
13 |
| General Freight Trucking, Local |
1 |
| General Medical and Surgical Hospitals |
3 |
| General Rental Centers |
2 |
| General Warehousing and Storage |
1 |
| Gift, Novelty, and Souvenir Stores |
5 |
| Glass and Glazing Contractors |
2 |
| Golf Courses and Country Clubs |
2 |
| Hardware Stores |
3 |
| Heating Oil Dealers |
1 |
| Hobby, Toy, and Game Stores |
1 |
| Home Centers |
3 |
| Home Health Care Services |
8 |
| Home Health Equipment Rental |
1 |
| Inland Water Freight Transportation |
1 |
| Insurance Agencies and Brokerages |
29 |
| Interior Design Services |
1 |
| Internet Service Providers |
1 |
| Investigation Services |
4 |
| Investment Advice |
4 |
| Janitorial Services |
10 |
| Jewelry Stores |
3 |
| Kidney Dialysis Centers |
3 |
| Land Subdivision |
2 |
| Landscape Architectural Services |
2 |
| Landscaping Services |
14 |
| Lessors of Other Real Estate Property |
1 |
| Limited-Service Restaurants |
32 |
| Local Messengers and Local Delivery |
2 |
| Machine Shops |
1 |
| Mail-Order Houses |
2 |
| Manufactured (Mobile) Home Dealers |
2 |
| Marinas |
1 |
| Marketing Consulting Services |
3 |
| Masonry Contractors |
2 |
| Meat Markets |
1 |
| Medical Laboratories |
3 |
| Medicinal and Botanical Manufacturing |
1 |
| Miscellaneous Intermediation |
2 |
| Mobile Food Services |
1 |
| Mortgage and Nonmortgage Loan Brokers |
10 |
| Motion Picture and Video Production |
1 |
| Motor Vehicle Towing |
1 |
| Motorcycle Dealers |
2 |
| Musical Instrument and Supplies Stores |
1 |
| Nail Salons |
1 |
| Natural Gas Distribution |
3 |
| Navigational Services to Shipping |
3 |
| New Car Dealers |
6 |
| New Housing Operative Builders |
1 |
| Newspaper Publishers |
3 |
| Nonresidential Property Managers |
4 |
| Nursing Care Facilities |
1 |
| Office Administrative Services |
6 |
| Office Equipment Merchant Wholesalers |
3 |
| Office Supplies and Stationery Stores |
1 |
| Offices of Certified Public Accountants |
13 |
| Offices of Chiropractors |
2 |
| Offices of Dentists |
23 |
| Offices of Lawyers |
81 |
| Offices of Optometrists |
3 |
| Offices of Other Holding Companies |
1 |
| Offices of Podiatrists |
2 |
| Offices of Real Estate Appraisers |
5 |
| Open-End Investment Funds |
1 |
| Optical Goods Stores |
1 |
| Outdoor Power Equipment Stores |
2 |
| Paint and Wallpaper Stores |
1 |
| Painting and Wall Covering Contractors |
3 |
| Periodical Publishers |
1 |
| Pet and Pet Supplies Stores |
5 |
| Pet Care (except Veterinary) Services |
2 |
| Petroleum Bulk Stations and Terminals |
1 |
| Pharmacies and Drug Stores |
6 |
| Photography Studios, Portrait |
2 |
| Pipeline Transportation of Natural Gas |
1 |
| Portfolio Management |
3 |
| Private Mail Centers |
3 |
| Professional Employer Organizations |
2 |
| Professional Organizations |
1 |
| Public Relations Agencies |
1 |
| Ready-Mix Concrete Manufacturing |
1 |
| Real Estate Credit |
5 |
| Recreational Goods Rental |
1 |
| Reinsurance Carriers |
1 |
| Remediation Services |
2 |
| Repossession Services |
2 |
| Residential Property Managers |
3 |
| Residential Remodelers |
10 |
| Retail Bakeries |
2 |
| Reupholstery and Furniture Repair |
1 |
| Roofing Contractors |
3 |
| Sales Financing |
2 |
| Savings Institutions |
3 |
| Securities Brokerage |
12 |
| Security Guards and Patrol Services |
1 |
| Septic Tank and Related Services |
1 |
| Shoe Stores |
4 |
| Siding Contractors |
1 |
| Sign Manufacturing |
1 |
| Site Preparation Contractors |
10 |
| Snack and Nonalcoholic Beverage Bars |
10 |
| Software Publishers |
3 |
| Solid Waste Collection |
1 |
| Sporting Goods Stores |
3 |
| Sports and Recreation Instruction |
1 |
| Tax Preparation Services |
2 |
| Taxi Service |
1 |
| Telephone Answering Services |
2 |
| Temporary Help Services |
6 |
| Testing Laboratories |
1 |
| Tile and Terrazzo Contractors |
1 |
| Tire Dealers |
4 |
| Title Abstract and Settlement Offices |
5 |
| Tobacco Stores |
2 |
| Travel Agencies |
1 |
| Used Car Dealers |
2 |
| Used Household and Office Goods Moving |
3 |
| Used Merchandise Stores |
2 |
| Veterinary Services |
10 |
| Video Tape and Disc Rental |
3 |
| Vocational Rehabilitation Services |
2 |
| Warehouse Clubs and Supercenters |
1 |
| Water Supply and Irrigation Systems |
1 |
| Wholesale Trade Agents and Brokers |
19 |
| Wired Telecommunications Carriers |
5 |
| Women's Clothing Stores |
5 |
| Wood Window and Door Manufacturing |
1 |
| Zoos and Botanical Gardens |
1 |
Should You Franchise?
As you drive around Covington, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. Is franchising maybe a better way for you to start your business?
Our advice is to consider franchising as an option. We have many articles on franchises, such as Franchising My Business. 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 Newport Furnishings and Color Me Mine Enterprises. Alternatively, you can browse franchise categories, such as Video and DVD Rental Franchises and Child Photos and Portraits Franchises.
Note on Covington Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Covington.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Companies like Starbucks, Apple, Target, Microsoft and Intuit all have strong company names that are easy to remember and have become well-loved brands. Wouldn't it be nice if your new company name got on a similar track?
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
There's one other important factor when naming a business. Since you are opening a business in Covington, it's imperative that you check now that no Louisiana company has already registered the company name you have selected.
Forming a Company in Covington, Louisiana
It's very important that you are forming a legal entity that operates independently from you. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
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.
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. If you are starting a business in Louisiana, you don't necessarily have to incorporate in Louisiana. 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Where to Incorporate. You may also want to seek the advice of an lawyer. On a final note, since you will be starting a business in Covington, Louisiana, our web page covering Incorporating in Louisiana may be a useful resource if you decide to incorporate in Louisiana.
Getting Money to Start a Business
Obtaining startup financing for your Covington business is a difficult chore. In fact, financing your new business may be the hardest challenge you ever face.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Incubators.
For Covington entrepreneurs on the hunt for startup funding, you'll want to take a look at our List of Louisiana Angel Investors and our List of Louisiana Venture Capital Firms.
Improving Your Entrepreneurial Skillset
The best entrepreneurs recognize that they need to continually improve.
As an entrepreneur who lives in Covington, Louisiana, you should investigate some of the many programs available at nearby Louisiana universities, colleges and community colleges. Another way to keep up on your entrepreneurial education is to investigate networking organizations for Covington entrepreneurs.
Moving Forward
Most new Covington businesses underestimate the number of challenges they will face.
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 Covington and elsewhere to achieve real success. We want to be there for you to answer your business questions, whether you are a new Covington 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 Covington, Louisiana
Here are more links that we believe will help you be successful in starting a business in Covington.
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