Kentucky Business Startup Guides
Start a Business in Paintsville, Kentucky
Are you starting a business in Paintsville, Kentucky? This article discusses the most important things to consider when opening a business in Paintsville.
Are You Ready for Life as an Owner?
Before you get too far along in the process, assess your entrepreneurial instincts and capabilities.
To determine whether you have what it takes to run a business, we recommend these three steps to help you decide:
- Talk to other entrepreneurs in Paintsville. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Why Small Businesses Fail. For aspiring new entrepreneurs, it's a must read article.
- Get feedback from somebody whom you trust. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Paintsville, Kentucky Demographic Information
Paintsville has an active business community that includes small businesses, mid-sized businesses and large businesses.
To give you a better feel for Paintsville demographics for small businesses, we have tabulated the small business sizes, based on number of employees, for business in Paintsville.
Businesses
As a new Paintsville entrepreneur, you may also be interested in the table below. It shows how many businesses there are in Paintsville 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.
Businesses
Have You Considered Franchising?
As you drive around Paintsville, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Our recommendation is that you look into purchasing a franchise. This site has dozens of articles on franchising, such as How to Franchise. 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 CosmiKids and FoodNet. Alternatively, you can browse franchise categories, such as Senior Care Franchises and Child Entertainment Franchises.
Note on Paintsville Franchise Opportunities: To find out if a franchise you are interested in is available in Paintsville, you will need to get in direct contact with the franchisor.
Have You Considered Buying an Existing Paintsville Business?
We've created a useful website page for those who want to Buy a Business in Kentucky. Follow that link and you might discover several good businesses for sale in Paintsville.
Before buying a business, be sure to read this article: How to Buy a Business.
Naming the Company
Making the right decision when choosing a company name is very important. There are many decisions you'll make now that you can change later, but changing a company name years down the road is not very easy. So, choose a good company name at the outset.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
For other considerations regarding naming a company, we recommend this article: Naming a Company.
As a final piece of advice, remember that because you are planning on starting a business in Paintsville, it's very important that you make sure your company name has not already been claimed by another Kentucky business.
Forming a Company in Paintsville, Kentucky
It's essential that your business is formed as a legal entity that is separate from its owners. Among other things, forming a legal entity for the business limits your liabilities.
When forming a company, you will decide among many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
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. If you are starting a business in Kentucky, it doesn't mean you are required to incorporate in Kentucky. In fact, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
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 C Corp Versus S Corp. You should also consider getting professional assistance from your business lawyer. On a final note, since you will be starting a business in Paintsville, Kentucky, our web page covering Incorporating in Kentucky may be a useful resource if you decide to incorporate in Kentucky.
Bring in Revenues
Being able to sell is essential to your business success. Whether you are focused on selling local customers in Paintsville or are selling to customers throughout Kentucky, the United States or even the world, you have to be able to sell.
So what does it take to bring in more prospects and close more business? Let us help you refine your selling techniques through our many useful sales advice tips.
The Art of Customer Referrals is worth reading, as it may give you some good ideas on how to sell your products or services. We have many more good articles on selling that you may enjoy reading.
Never Give Up
You have a dream -- starting a business in Paintsville. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Paintsville 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.
More Entrepreneurial Resources for Starting a Business in Paintsville, Kentucky
Here are more links that we believe will help you be successful in starting a business in Paintsville.
- Resources for Paintsville, Kentucky Entrepreneurs - Browse a variety of resources we've collected to assist Paintsville 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.
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