Are you starting a business in Norfolk, Virginia? This article discusses the most important things to consider when opening a business in Norfolk.
Most new ventures fail, in part because the business owner did not have the entrepreneurial skills and traits needed to succeed. So, before you start your business, 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:
Norfolk has an active business community that includes small businesses,
mid-sized businesses and large businesses.
To give you a better feel for Norfolk demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Norfolk.
As a new Norfolk entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Norfolk 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 |
10 |
| Air and Gas Compressor Manufacturing |
2 |
| Ambulance Services |
1 |
| Amusement Arcades |
3 |
| Animal (except Poultry) Slaughtering |
1 |
| Appliance Repair and Maintenance |
1 |
| Apprenticeship Training |
4 |
|
Architectural Services |
23 |
| Armored Car Services |
2 |
| Art Dealers |
2 |
| Automobile Driving Schools |
1 |
| Automotive Exhaust System Repair |
4 |
| Automotive Glass Replacement Shops |
6 |
| Automotive Parts and Accessories Stores |
29 |
| Automotive Transmission Repair |
8 |
|
Baked Goods Stores |
6 |
| Barber Shops |
8 |
| Beauty Salons |
59 |
| Bed-and-Breakfast Inns |
2 |
| Beer, Wine, and Liquor Stores |
8 |
| Blood and Organ Banks |
2 |
| Boat Building |
2 |
| Boat Dealers |
10 |
|
Book Publishers |
1 |
| Book Stores |
12 |
| Bowling Centers |
3 |
| Broadwoven Fabric Finishing Mills |
1 |
| Building Inspection Services |
5 |
| Business Associations |
16 |
| Cable and Other Program Distribution |
2 |
| Cafeterias |
10 |
|
Camera and Photographic Supplies Stores |
4 |
| Canvas and Related Product Mills |
3 |
| Car Washes |
10 |
| Carpet and Upholstery Cleaning Services |
4 |
| Caterers |
6 |
| Cemeteries and Crematories |
3 |
| Child and Youth Services |
15 |
| Child Day Care Services |
43 |
|
Children's and Infants' Clothing Stores |
3 |
| Civic and Social Organizations |
43 |
| Claims Adjusting |
4 |
| Clothing Accessories Stores |
12 |
| Coffee and Tea Manufacturing |
1 |
| Coin-Operated Laundries and Drycleaners |
16 |
| Collection Agencies |
6 |
| Commercial Bakeries |
4 |
|
Commercial Lithographic Printing |
13 |
| Commercial Photography |
10 |
| Commercial Screen Printing |
4 |
| Commodity Contracts Dealing |
1 |
| Community Food Services |
1 |
| Computer and Software Stores |
16 |
| Computer Facilities Management Services |
6 |
| Computer Systems Design Services |
53 |
|
Computer Training |
3 |
| Confectionery and Nut Stores |
3 |
| Confectionery Merchant Wholesalers |
1 |
| Consumer Lending |
8 |
| Continuing Care Retirement Communities |
4 |
| Convenience Stores |
40 |
| Convention and Trade Show Organizers |
2 |
| Convention and Visitors Bureaus |
2 |
|
Cosmetology and Barber Schools |
2 |
| Couriers |
7 |
| Court Reporting and Stenotype Services |
5 |
| Credit Unions |
34 |
| Curtain and Drapery Mills |
1 |
| Custom Computer Programming Services |
25 |
| Deep Sea Freight Transportation |
10 |
| Dental Laboratories |
3 |
|
Diagnostic Imaging Centers |
1 |
| Diet and Weight Reducing Centers |
1 |
| Direct Life Insurance Carriers |
4 |
| Direct Title Insurance Carriers |
3 |
| Directory and Mailing List Publishers |
1 |
| Discount Department Stores |
4 |
| Display Advertising |
1 |
| Document Preparation Services |
1 |
|
Drafting Services |
3 |
| Drinking Places (Alcoholic Beverages) |
21 |
| Drywall and Insulation Contractors |
9 |
| Educational Support Services |
1 |
| Electric Power Distribution |
2 |
| Electrical Contractors |
42 |
| Electronic Shopping |
4 |
| Elementary and Secondary Schools |
22 |
|
Emergency and Other Relief Services |
5 |
| Employment Placement Agencies |
6 |
| Engineering Services |
53 |
| Environmental Consulting Services |
3 |
| Exam Preparation and Tutoring |
3 |
| Exterminating and Pest Control Services |
11 |
| Facilities Support Services |
4 |
| Family Clothing Stores |
22 |
|
Family Planning Centers |
1 |
| Farm Supplies Merchant Wholesalers |
1 |
| Fine Arts Schools |
10 |
| Finish Carpentry Contractors |
14 |
| Fish and Seafood Markets |
5 |
| Fish and Seafood Merchant Wholesalers |
3 |
| Fitness and Recreational Sports Centers |
16 |
| Floor Covering Stores |
7 |
|
Flooring Contractors |
7 |
| Florists |
15 |
| Food (Health) Supplement Stores |
7 |
| Food Service Contractors |
40 |
| Footwear and Leather Goods Repair |
3 |
| Footwear Merchant Wholesalers |
1 |
| Formal Wear and Costume Rental |
2 |
| Framing Contractors |
7 |
|
Freight Transportation Arrangement |
45 |
| Fresh and Frozen Seafood Processing |
2 |
| Full-Service Restaurants |
206 |
| Funeral Homes and Funeral Services |
12 |
| Furniture Merchant Wholesalers |
7 |
| Furniture Stores |
25 |
| General Automotive Repair |
57 |
| General Freight Trucking, Local |
14 |
|
General Medical and Surgical Hospitals |
4 |
| General Rental Centers |
5 |
| General Warehousing and Storage |
10 |
| Gift, Novelty, and Souvenir Stores |
26 |
| Glass and Glazing Contractors |
4 |
| Golf Courses and Country Clubs |
3 |
| Grantmaking Foundations |
7 |
| Graphic Design Services |
7 |
|
Gypsum Product Manufacturing |
1 |
| Hardware Merchant Wholesalers |
7 |
| Hardware Stores |
8 |
| Hazardous Waste Treatment and Disposal |
1 |
| Heating Oil Dealers |
3 |
| Historical Sites |
2 |
| HMO Medical Centers |
1 |
| Hobby, Toy, and Game Stores |
9 |
|
Home Centers |
3 |
| Home Furnishing Merchant Wholesalers |
7 |
| Home Health Care Services |
19 |
| Home Health Equipment Rental |
2 |
| Homes for the Elderly |
10 |
| Household Appliance Stores |
3 |
| Human Rights Organizations |
3 |
| Hunting and Trapping |
1 |
|
Ice Manufacturing |
1 |
| Industrial Building Construction |
1 |
| Industrial Launderers |
10 |
| Inland Water Freight Transportation |
4 |
| Insurance Agencies and Brokerages |
63 |
| Interior Design Services |
8 |
| Internet Publishing and Broadcasting |
3 |
| Internet Service Providers |
3 |
|
Interurban and Rural Bus Transportation |
2 |
| Investigation Services |
4 |
| Investment Advice |
6 |
| Janitorial Services |
31 |
| Jewelry Stores |
40 |
| Junior Colleges |
1 |
| Kidney Dialysis Centers |
5 |
| Land Subdivision |
5 |
|
Landscape Architectural Services |
4 |
| Landscaping Services |
33 |
| Lessors of Other Real Estate Property |
4 |
| Libraries and Archives |
1 |
| Limited-Service Restaurants |
208 |
| Limousine Service |
3 |
| Linen Supply |
2 |
| Local Messengers and Local Delivery |
6 |
|
Locksmiths |
6 |
| Machine Shops |
10 |
| Mail-Order Houses |
6 |
| Manifold Business Forms Printing |
2 |
| Manufactured (Mobile) Home Dealers |
1 |
| Marinas |
10 |
| Marine Cargo Handling |
4 |
| Marketing Consulting Services |
11 |
|
Marking Device Manufacturing |
2 |
| Masonry Contractors |
17 |
| Mattress Manufacturing |
2 |
| Meat Markets |
4 |
| Media Representatives |
2 |
| Medical Laboratories |
7 |
| Men's Clothing Stores |
23 |
| Metal Window and Door Manufacturing |
1 |
|
Miscellaneous Intermediation |
2 |
| Mobile Food Services |
1 |
| Mortgage and Nonmortgage Loan Brokers |
3 |
| Motion Picture and Video Production |
6 |
| Motor Vehicle Body Manufacturing |
1 |
| Motor Vehicle Towing |
18 |
| Motorcycle Dealers |
3 |
| Museums |
4 |
|
Musical Groups and Artists |
6 |
| Nail Salons |
12 |
| Natural Gas Distribution |
3 |
| Navigational Services to Shipping |
7 |
| New Car Dealers |
13 |
| New Housing Operative Builders |
5 |
| News Dealers and Newsstands |
5 |
| Newspaper Publishers |
5 |
|
Nonresidential Property Managers |
23 |
| Nursing Care Facilities |
6 |
| Office Administrative Services |
9 |
| Office Equipment Merchant Wholesalers |
12 |
| Office Supplies and Stationery Stores |
7 |
| Offices of Bank Holding Companies |
1 |
| Offices of Certified Public Accountants |
32 |
| Offices of Chiropractors |
11 |
|
Offices of Dentists |
55 |
| Offices of Lawyers |
148 |
| Offices of Optometrists |
13 |
| Offices of Other Holding Companies |
5 |
| Offices of Podiatrists |
5 |
| Offices of Real Estate Appraisers |
15 |
| Ophthalmic Goods Manufacturing |
1 |
| Ophthalmic Goods Merchant Wholesalers |
1 |
|
Optical Goods Stores |
14 |
| Outdoor Power Equipment Stores |
1 |
| Packaging and Labeling Services |
1 |
| Packing and Crating |
2 |
| Paint and Wallpaper Stores |
7 |
| Painting and Wall Covering Contractors |
29 |
| Parking Lots and Garages |
12 |
| Passenger Car Rental |
19 |
|
Payroll Services |
6 |
| Periodical Publishers |
79 |
| Pet and Pet Supplies Stores |
3 |
| Pet Care (except Veterinary) Services |
4 |
| Petroleum Bulk Stations and Terminals |
2 |
| Pharmacies and Drug Stores |
24 |
| Photography Studios, Portrait |
11 |
| Plastics Plumbing Fixture Manufacturing |
1 |
|
Political Organizations |
1 |
| Port and Harbor Operations |
3 |
| Portfolio Management |
11 |
| Prepress Services |
3 |
| Private Mail Centers |
3 |
| Professional Employer Organizations |
3 |
| Professional Organizations |
6 |
| Public Relations Agencies |
4 |
|
Quick Printing |
8 |
| Radio Networks |
1 |
| Radio Stations |
10 |
| Ready-Mix Concrete Manufacturing |
3 |
| Real Estate Credit |
15 |
| Record Production |
2 |
| Refrigerated Warehousing and Storage |
2 |
| Reinsurance Carriers |
1 |
|
Remediation Services |
3 |
| Repossession Services |
2 |
| Residential Property Managers |
33 |
| Residential Remodelers |
43 |
| Resilient Floor Covering Manufacturing |
1 |
| Retail Bakeries |
3 |
| Reupholstery and Furniture Repair |
9 |
| Roofing Contractors |
18 |
|
Sales Financing |
6 |
| Savings Institutions |
1 |
| Scheduled Passenger Air Transportation |
12 |
| School and Employee Bus Transportation |
1 |
| Securities Brokerage |
16 |
| Security Guards and Patrol Services |
9 |
| Septic Tank and Related Services |
1 |
| Sheet Metal Work Manufacturing |
5 |
|
Shellfish Fishing |
1 |
| Ship Building and Repairing |
10 |
| Shoe Stores |
49 |
| Siding Contractors |
2 |
| Sign Manufacturing |
4 |
| Silverware and Hollowware Manufacturing |
1 |
| Site Preparation Contractors |
12 |
| Snack and Nonalcoholic Beverage Bars |
25 |
|
Software Publishers |
1 |
| Software Reproducing |
1 |
| Solid Waste Collection |
3 |
| Solid Waste Combustors and Incinerators |
2 |
| Special Needs Transportation |
2 |
| Sporting Goods Stores |
16 |
| Sports and Recreation Instruction |
3 |
| Sports Teams and Clubs |
1 |
|
Spring (Light Gauge) Manufacturing |
1 |
| Steel Foundries (except Investment) |
1 |
| Tax Preparation Services |
29 |
| Taxi Service |
2 |
| Telecommunications Resellers |
3 |
| Telemarketing Bureaus |
2 |
| Telephone Answering Services |
3 |
| Television Broadcasting |
4 |
|
Temporary Help Services |
23 |
| Temporary Shelters |
6 |
| Testing Laboratories |
6 |
| Theater Companies and Dinner Theaters |
6 |
| Tile and Terrazzo Contractors |
3 |
| Tire and Tube Merchant Wholesalers |
2 |
| Tire Dealers |
19 |
| Tire Retreading |
1 |
|
Title Abstract and Settlement Offices |
6 |
| Tobacco Stores |
2 |
| Tour Operators |
2 |
| Tradebinding and Related Work |
1 |
| Translation and Interpretation Services |
1 |
| Travel Agencies |
5 |
| Used Car Dealers |
38 |
| Used Household and Office Goods Moving |
13 |
|
Used Merchandise Stores |
30 |
| Vending Machine Operators |
4 |
| Veterinary Services |
11 |
| Video Tape and Disc Rental |
12 |
| Vocational Rehabilitation Services |
6 |
| Voluntary Health Organizations |
7 |
| Warehouse Clubs and Supercenters |
3 |
| Water Supply and Irrigation Systems |
1 |
|
Wholesale Trade Agents and Brokers |
12 |
| Wired Telecommunications Carriers |
34 |
| Women's Clothing Stores |
37 |
| Wood Container and Pallet Manufacturing |
1 |
| Zoos and Botanical Gardens |
2 |
As you drive around Norfolk, it becomes clear that purchasing a franchise is a common way to get started as an entrepreneur. So, it probably makes sense for you to consider franchising too.
Our recommendation is that you investigate buying a franchise. We have many articles on franchises, such as The Franchising Process. Get a thorough education on franchising by browsing all of our Articles on Franchising.
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.
Company names should be fun to say, and they should help people to understand what you do and how you differentiate yourself in the market.
To get up to speed on what makes for a good company name, we encourage you to read this useful article: Branding Advice.
On a final note, given that you are opening a business in Norfolk, it's imperative that you check now that no other Virginia company is using the business name you want to use.
A critical step is ensuring that you form your business as a legal structure. Doing so will shield you from personal liability for business debts and obligations.
The entity you form can be 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 Virginia, it doesn't mean you are required to incorporate in Virginia. In fact, you are allowed to 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. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Piercing the Corporate Veil. You may also want to seek the advice of an attorney. Finally, if you are starting a business in Norfolk, Virginia, our information on Incorporating in Virginia may be a useful resource if you decide to incorporate in Virginia.
A business plan is essential in laying a solid foundation for your business success. Indeed, a business plan is a written description of the future you envision for your business. Failure to write a business plan is a recipe for disaster.
Most new Norfolk 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 Norfolk 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.
Here are more links that we believe will help you be successful in starting a business in Norfolk.
