Virginia Business Startup Guides
Open a Business in Lexington, Virginia
Need help starting a business in Lexington, Virginia? We've got the information you need to open a business in Lexington.
Which Business to Choose?
Choosing a business that is right for you is very important. We recommend that you read Business Ideas That Don't Make Sense.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Congressional Representatives Business guide or our How to Start a Spinning & Weaving Instruction Business guide.
Don't forget that you are starting a business in Lexington. Some businesses will do better in Lexington than others. A critical consideration is whether Lexington demographics mesh well with your startup concept.
Lexington, Virginia Demographic Information
Lexington has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Lexington demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Lexington.
As a new Lexington entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Lexington 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.
Have You Considered Franchising?
Visit the business district of Lexington and it's apparent that franchising has become a very popular way to start a business. So, it probably makes sense for you to consider franchising too.
Our advice is to look into purchasing a franchise. We have many articles on franchises, such as Evaluating Franchise Opportunities. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Representative franchise opportunities include Woodfield Suites and Hawthorn Suites. Alternatively, you can browse franchise categories, such as Car Wash Franchises and Healthy Alternative Foods Franchises.
Note on Lexington Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Lexington.
Do You Need a Business Plan?
Having a business plan is critical in maximizing the prospects of your new company. Simply put, a business plan is a written description of the future you envision for your business. Failure to write a business plan makes you more prone to becoming a business failure statistic.
Before you start writing a business plan, we suggest you skim Expert Advice on Business Plans. You should also take advantage of free counseling sessions provided by your local SCORE chapter in Virginia.
Raising Money for Your New Venture
Raising money to fund your new Lexington business is a difficult chore. The reality is that there is very little funding available for new small businesses, and you have to explore every possible alternative.
Take advantage of our many articles on raising money, such as 504 Loans.
Marketing Your New Business
Whether your goal is to attract Lexington customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
You can learn quite a bit about marketing on our site. Advertising Campaigns is an article that will generate a few thoughts on your marketing plan. That's just a sampling of the many useful articles we have on Marketing a Small Business.
How to Improve Your Entrepreneurial Abilities
The best entrepreneurs recognize that they don't know everything.
With your business being located in Lexington, Virginia, you should check out some of the many programs available at nearby Virginia universities, colleges and community colleges. You should also check if there are any networking groups or organizations in which Lexington entrepreneurs get together to network and trade their business experiences.
As an entrepreneur in Lexington, you won't be working for the boss anymore. You are the boss.
If you choose the right business and love what you do, you will greatly increase your odds of success.
We are here to help Lexington businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Lexington, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Lexington, Virginia
Here are more links that we believe will help you be successful in starting a business in Lexington.
- Resources for Lexington, Virginia Entrepreneurs - Browse a variety of resources we've collected to assist Lexington entrepreneurs.
- Virginia Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Virginia.
- Virginia Small Business Development Center - Virginia Small Business Development Centers offer professional business counseling, training and information resources to help grow and strengthen Virginia businesses.
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