Are you starting a business in Lexington Park, Maryland? This article discusses the most important things to consider when opening a business in Lexington Park.
Do You Have What It Takes?
Most new ventures fail, in part because the founder did not have the entrepreneurial skills and traits needed to succeed. So, before jumping into the world of entrepreneurship, 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.
- Reach out to other entrepreneurs in Lexington Park. Get their candid feedback on what it takes to start a successful business.
- 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. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
Lexington Park, Maryland Demographic Information
Lexington Park has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Lexington Park demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lexington Park.
| Business Size | # of
Businesses |
| 1-4 Employees |
468 |
| 5-9 Employees |
261 |
| 10-19 Employees |
213 |
| 20-49 Employees |
147 |
| 50-99 Employees |
51 |
| 100-249 Employees |
27 |
| 250-499 Employees |
6 |
| 500-999 Employees |
3 |
| 1000+ Employees |
3 |
| All Lexington Park Businesses |
1179 |
As a new Lexington Park entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lexington Park 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 |
|
Appliance Repair and Maintenance |
1 |
| Automotive Glass Replacement Shops |
1 |
| Automotive Parts and Accessories Stores |
5 |
| Beauty Salons |
9 |
| Beer, Wine, and Liquor Stores |
4 |
| Book Stores |
1 |
| Bowling Centers |
1 |
| Business Associations |
1 |
|
Car Washes |
1 |
| Caterers |
1 |
| Child Day Care Services |
3 |
| Civic and Social Organizations |
5 |
| Coin-Operated Laundries and Drycleaners |
2 |
| Commercial Lithographic Printing |
1 |
| Community Food Services |
1 |
| Computer Facilities Management Services |
4 |
|
Computer Systems Design Services |
12 |
| Computer Training |
2 |
| Convenience Stores |
5 |
| Credit Unions |
3 |
| Custom Computer Programming Services |
6 |
| Diet and Weight Reducing Centers |
1 |
| Drinking Places (Alcoholic Beverages) |
1 |
| Elementary and Secondary Schools |
1 |
|
Emergency and Other Relief Services |
1 |
| Engineering Services |
29 |
| Exam Preparation and Tutoring |
1 |
| Exterminating and Pest Control Services |
1 |
| Facilities Support Services |
3 |
| Family Clothing Stores |
1 |
| Family Planning Centers |
1 |
| Fine Arts Schools |
1 |
|
Fitness and Recreational Sports Centers |
2 |
| Floor Covering Stores |
1 |
| Flooring Contractors |
1 |
| Florists |
2 |
| Framing Contractors |
1 |
| Freight Transportation Arrangement |
1 |
| Full-Service Restaurants |
10 |
| Furniture Stores |
2 |
|
General Automotive Repair |
7 |
| General Rental Centers |
1 |
| Gift, Novelty, and Souvenir Stores |
1 |
| Glass and Glazing Contractors |
1 |
| Heating Oil Dealers |
1 |
| Home Health Care Services |
1 |
| Household Appliance Stores |
1 |
| Insurance Agencies and Brokerages |
6 |
|
Interior Design Services |
1 |
| Janitorial Services |
5 |
| Landscaping Services |
4 |
| Limited-Service Restaurants |
18 |
| Mortgage and Nonmortgage Loan Brokers |
1 |
| Motion Picture and Video Production |
1 |
| Museums |
1 |
| Musical Instrument and Supplies Stores |
1 |
|
Nail Salons |
3 |
| New Car Dealers |
3 |
| Newspaper Publishers |
1 |
| Nonresidential Property Managers |
2 |
| Nursing Care Facilities |
1 |
| Office Administrative Services |
1 |
| Office Supplies and Stationery Stores |
1 |
| Offices of Certified Public Accountants |
1 |
|
Offices of Chiropractors |
1 |
| Offices of Dentists |
9 |
| Offices of Lawyers |
6 |
| Offices of Optometrists |
1 |
| Offices of Podiatrists |
1 |
| Paint and Wallpaper Stores |
1 |
| Painting and Wall Covering Contractors |
1 |
| Passenger Car Rental |
2 |
|
Pet and Pet Supplies Stores |
1 |
| Pharmacies and Drug Stores |
2 |
| Photography Studios, Portrait |
1 |
| Real Estate Credit |
2 |
| Real Estate Investment Trusts |
1 |
| Residential Property Managers |
2 |
| Residential Remodelers |
5 |
| School and Employee Bus Transportation |
9 |
|
Security Guards and Patrol Services |
1 |
| Shoe Stores |
1 |
| Site Preparation Contractors |
2 |
| Snack and Nonalcoholic Beverage Bars |
2 |
| Sporting Goods Stores |
4 |
| Sports and Recreation Instruction |
1 |
| Tax Preparation Services |
3 |
| Taxi Service |
1 |
|
Temporary Help Services |
2 |
| Temporary Shelters |
1 |
| Textile Machinery Manufacturing |
1 |
| Tire Dealers |
3 |
| Title Abstract and Settlement Offices |
1 |
| Travel Agencies |
1 |
| Used Car Dealers |
1 |
| Used Household and Office Goods Moving |
2 |
|
Veterinary Services |
3 |
| Vocational Rehabilitation Services |
1 |
| Wired Telecommunications Carriers |
1 |
Have You Considered Buying an Existing Lexington Park Business?
An excellent way to get started in business is to Buy a Business in Maryland. Follow that link and you may find several good businesses for sale in Lexington Park.
Before buying a business, be sure to read this article: How to Buy a Business.
Marketing Your New Venture
To grow your Lexington Park business, you need a excellent marketing plan.
We have some great resources on this site for entrepreneurs who are working on marketing plans. Bus Bench Advertising Costs 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.
How to Sell
Mastering the art of selling is priority one if you want your new Lexington Park business to do well.
Why should customers buy from you instead of buying from competitors? The good news is we can help you to make selling a big competitve advantage for your new firm.
The Art of Customer Referrals is a good article to read, one of dozens in the Selling for Entrepreneurs section of our site.
Improving Your Entrepreneurial Skillset
Good entrepreneurs recognize that they need to continually improve.
As an entrepreneur who lives in Lexington Park, Maryland, you will want to take advantage of the learning programs at local Maryland educational institutions. It's also worthwhile to see if there are any Lexington Park networking organizations.
Now It's Up To You
Most new Lexington Park 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 Lexington Park and throughout the United States . We want to be there for you to answer your business questions, whether you are a new Lexington Park 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 Lexington Park, Maryland
Here are more links that we believe will help you be successful in starting a business in Lexington Park.
- Resources for Lexington Park, Maryland Entrepreneurs - Browse a variety of resources we've collected to assist Lexington Park entrepreneurs.
- Maryland Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Maryland.
- Maryland Small Business Development Center - The Maryland Small Business Development Center Network has six regional offices and more than 20 locations where Maryland entrepreneurs can receive comprehensive, resources and relevant assistance.
- Lexington Park, Maryland Newspaper Ad Rates - This is a nearly comprehensive list of advertising rates for Lexington Park, Maryland newspapers, including ad costs for newspapers serving the Lexington Park area.
- Lexington Park, Maryland Payroll Services - This list includes Lexington Park, Maryland payroll services, national payroll services for Lexington Park, and helpful information on choosing a Lexington Park payroll service.
- Lexington Park, Maryland Businesses for Sale - This list includes resources for buying a business in Lexington Park, Maryland, such as business brokers in Lexington Park and other helpful information on how to buy a Lexington Park business.
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