Kentucky Business Startup Guides

Open a Business in Richmond, Kentucky

Need help starting a business in Richmond, Kentucky? We've got the information you need to open a business in Richmond.

Richmond, Kentucky Demographic Information

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

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

Business Size
# of
Businesses
1-4 Employees
23646
5-9 Employees
10080
10-19 Employees
6720
20-49 Employees
4242
50-99 Employees
1302
100-249 Employees
672
250-499 Employees
252
500-999 Employees
84
1000+ Employees
0
All Richmond Businesses
46998

As a new Richmond entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Richmond 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
Architectural Services
1
Art Dealers
1
Automotive Glass Replacement Shops
3
Automotive Parts and Accessories Stores
11
Beauty Salons
7
Beer and Ale Merchant Wholesalers
1
Boat Dealers
2
Book Publishers
1
Book Stores
2
Bowling Centers
2
Building Inspection Services
1
Business Associations
4
Cable and Other Program Distribution
3
Car Washes
1
Carpet and Upholstery Cleaning Services
3
Caterers
1
Cemeteries and Crematories
2
Child Day Care Services
16
Civic and Social Organizations
3
Clothing Accessories Stores
1
Commercial Lithographic Printing
2
Commodity Contracts Brokerage
1
Computer and Software Stores
1
Computer Systems Design Services
4
Confectionery and Nut Stores
1
Consumer Lending
6
Continuing Care Retirement Communities
1
Court Reporting and Stenotype Services
1
Credit Unions
2
Custom Computer Programming Services
2
Dental Laboratories
2
Diagnostic Imaging Centers
2
Direct Life Insurance Carriers
1
Drafting Services
1
Drywall and Insulation Contractors
3
Electric Power Distribution
5
Electrical Contractors
21
Elementary and Secondary Schools
1
Employment Placement Agencies
3
Engineering Services
5
Environmental Consulting Services
1
Exterminating and Pest Control Services
2
Family Clothing Stores
6
Family Planning Centers
1
Farm Supplies Merchant Wholesalers
1
Fine Arts Schools
1
Finish Carpentry Contractors
5
Fitness and Recreational Sports Centers
8
Floor Covering Stores
3
Flooring Contractors
3
Florists
6
Food (Health) Supplement Stores
2
Food Service Contractors
3
Framing Contractors
1
Freight Transportation Arrangement
1
Funeral Homes and Funeral Services
3
Furniture Stores
1
General Automotive Repair
8
General Freight Trucking, Local
3
General Medical and Surgical Hospitals
1
General Rental Centers
3
General Warehousing and Storage
1
Glass and Glazing Contractors
1
Golf Courses and Country Clubs
2
Hardware Merchant Wholesalers
1
Hardware Stores
3
Hobby, Toy, and Game Stores
1
Home Centers
1
Home Health Care Services
1
Homes for the Elderly
3
Household Appliance Stores
2
Industrial Mold Manufacturing
1
Insurance Agencies and Brokerages
27
Internet Service Providers
1
Iron and Steel Forging
1
Janitorial Services
6
Junior Colleges
1
Kidney Dialysis Centers
2
Land Subdivision
7
Landscape Architectural Services
2
Landscaping Services
10
Lessors of Other Real Estate Property
1
Limited-Service Restaurants
39
Local Messengers and Local Delivery
1
Locksmiths
1
Machine Shops
2
Manufactured (Mobile) Home Dealers
3
Marketing Consulting Services
1
Masonry Contractors
5
Meat Markets
1
Men's Clothing Stores
1
Metal Heat Treating
1
Metal Stamping
1
Mortgage and Nonmortgage Loan Brokers
3
Motor Vehicle Metal Stamping
1
Motor Vehicle Towing
1
Motorcycle Dealers
4
Musical Instrument and Supplies Stores
3
New Car Dealers
8
New Housing Operative Builders
5
Newspaper Publishers
1
Nursing Care Facilities
3
Office Administrative Services
2
Office Equipment Merchant Wholesalers
1
Offices of Certified Public Accountants
12
Offices of Chiropractors
6
Offices of Dentists
22
Offices of Lawyers
21
Offices of Optometrists
5
Offices of Real Estate Appraisers
5
Optical Goods Stores
2
Paint and Wallpaper Stores
2
Payroll Services
1
Pet and Pet Supplies Stores
1
Pet Care (except Veterinary) Services
2
Petroleum Bulk Stations and Terminals
2
Pharmacies and Drug Stores
7
Photography Studios, Portrait
3
Precision Turned Product Manufacturing
2
Private Mail Centers
1
Professional Organizations
1
Radio Stations
2
Ready-Mix Concrete Manufacturing
3
Real Estate Credit
7
Residential Property Managers
6
Reupholstery and Furniture Repair
1
Roofing Contractors
1
Securities Brokerage
6
Security Guards and Patrol Services
1
Shoe Stores
6
Siding Contractors
2
Site Preparation Contractors
3
Solid Waste Collection
2
Sporting Goods Stores
2
Sports and Recreation Instruction
2
Storage Battery Manufacturing
1
Support Activities for Forestry
1
Tax Preparation Services
2
Taxi Service
1
Temporary Shelters
2
Testing Laboratories
1
Tile and Terrazzo Contractors
4
Tire and Tube Merchant Wholesalers
1
Tire Dealers
2
Tobacco Stores
5
Travel Agencies
1
Used Household and Office Goods Moving
1
Used Merchandise Stores
4
Vending Machine Operators
3
Veterinary Services
6
Video Tape and Disc Rental
3
Warehouse Clubs and Supercenters
1
Water Supply and Irrigation Systems
1
Wineries
1
Wired Telecommunications Carriers
3
Women's Clothing Stores
7

What About Franchising Opportunities?

As you drive around Richmond, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?

We advise the entrepreneurs we work with to consider franchising as an option. We have many articles on franchises, such as Franchise Due Diligence. 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 Blue Sky Creamery and Business Card Experts. Alternatively, you can browse franchise categories, such as Telecommunications Franchises and IT Training Franchises.

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

Have You Considered Buying an Existing Richmond Business?

We've created a helpful website page for those who want to Buy a Business in Kentucky. Follow that link and you can assess several good businesses for sale in Richmond.

Before buying a business, be sure to read this article: How to Buy a Business.

Make Sure You Have a Business Plan

A business plan is vital in maximizing the prospects of your new company. Simply put, your business plan is your game plan for how you hope to grow your business. Not having a business plan is a recipe for disaster.

To learn more about business plans, read The Art of the Executive Summary. You can also get free counseling sessions provided by your local SCORE chapter in Kentucky.

Raising Money for Your Startup

Raising money to fund your new Richmond business is very difficult due to the ongoing business credit crunch. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.

Fortunately, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.

For Richmond entrepreneurs who need startup capital, you'll want to take a look at our List of Kentucky Angel Investors and our List of Kentucky Venture Capital Firms.

Marketing Your New Startup

Whether your goal is to attract Richmond 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 a good read to get your marketing thoughts flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.

Improving Your Entrepreneurial Skillset

The best entrepreneurs know that what they know now may not be enough to ensure their future success.

With your business being located in Richmond, Kentucky, you should investigate some of the many programs available at nearby Kentucky universities, colleges and community colleges. You should also check if there are any networking organizations for Richmond entrepreneurs.

Moving Forward

You have a dream -- starting a business in Richmond. To achieve your dream, you have to persevere, even when the odds are against you.

Owning your own business will be a daunting task, but you can do it.

Our goal here is to promote the vitality and growth of small businesses in Richmond and throughout the United States . We believe entrepreneurship is an amazing engine for job creation in Richmond, neighborhood development and overall economic health.

More Entrepreneurial Resources for Starting a Business in Richmond, Kentucky

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

  • Resources for Richmond, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Richmond 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.

Starting-a-Business Guides for Other Cities in Kentucky

Starting a Business in Radcliff
Starting a Business in Russell Springs

Browse All Business Startup Guides for Kentucky
Starting a Business Guides for Other States

 

 

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Additional Resources for Entrepreneurs

Lists of Venture Capital and Private Equity Firms

Franchise Opportunities

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