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Starting a Small Business in Kentucky

Welcome to the Small Business Startup Kentucky Franchise Directory! Here, you’ll find everything you need to begin your journey to business ownership in The Bluegrass State. If you’re considering starting a small business in Kentucky, read on for an overview of the state economy. Afterward, explore business opportunities and franchises for sale with our Kentucky Franchise Search Tool.

Kentucky Industry Trends

If an industry is performing well, business opportunities within it are often worth exploring. Begin your market research with this list of the Kentucky economy’s most significant industries in 2022. Afterward, take your research one step further by investigating niche markets and B2B opportunities within one of these top revenue-generating industries.

Health & Medical Insurance (Revenue: $31.4 billion)
Automobile Wholesaling (Revenue: $16.7 billion)
Hospitals ($16.3 billion)
New Car Dealers ($12.7 billion)
Wholesale Trade Agents & Brokers ($11.5 billion)
Warehouse Clubs & Supercenters ($10.3 billion)
Gas Stations with Convenience Stores (9.8 billion)
Gasoline & Petroleum Bulk Stations ($9.7 billion)
SUV & Light Truck Manufacturing ($9.6 billion)
Commercial Banking ($9.1 billion)

Kentucky Sector Statistics

When starting a small business in Kentucky, gross domestic product (GDP) is another tool entrepreneurs can use to make investment decisions. Generally, a steadily rising GDP means that people are spending more money and creating more jobs.

The three sectors that contributed most to Kentucky’s GDP in 2022 were Manufacturing; Real Estate, Rentals & Leasing; and Healthcare & Social Assistance. Combined, these three sectors represented 43.9% of the state’s GDP. In 2022, the sectors that contributed most to Kentucky’s GDP included:

Manufacturing (Value: $38.0 billion* | Annual growth: 2.7%)
Real Estate, Rentals & Leasing (Value: $20.2 billion* | Annual growth: 1.0%)
Healthcare & Social Assistance (Value: $18.4 billion* | Annual growth: 3.7%)
Wholesale Trade (Value: $13.8 billion* | Annual growth: 0.3%)
Finance & Insurance (Value: $11.8 billion* | Annual growth: 6.3%)
Retail Trade (Value: $11.8 billion* | Annual growth: -0.2%)
Transportation & Warehousing (Value: $9.3 billion* | Annual growth: 3.4%)
Professional, Scientific & Technical Services (Value: $8.9 billion* | Annual growth: 3.2%)
Administration, Business Support & Waste Management Services (Value: $7.0 billion* | Annual growth: 7.6%)
Information (Value: $5.9 billion* | Annual growth: 3.8%)
Construction (Value: $5.9 billion* | Annual growth: -0.6%)
Accommodation & Food Services (Value: $4.9 billion* | Annual growth: 2.6%)
Agriculture, Forestry, Fishing & Hunting (Value: $4.3 billion* | Annual growth: 3.2%)
Other Services (except Public Administration) (Value: $3.6 billion* | Annual growth: 0.4%)
Management of Companies and Enterprises (Value: $3.5 billion* | Annual growth: 5.3%)

*Approximately

Kentucky Population Statistics

A growing population often means greater demand and a steady flow of new customers. If you are undecided about the location of your new business, start by investigating population statistics. Afterward, take your research a step further by exploring population demographics. Doing so lets you decide whether a location is a good match for your target market.

In 2022, counties with the highest populations in Kentucky included:

Jefferson (Population: 766,800 | Annual growth rate*: N/A)
Fayette (Population: 327,100 | Annual growth rate*: 0.4%)
Kenton (Population: 169,300 | Annual growth rate*: 0.4%)
Boone (Population: 138,600 | Annual growth rate*: 1.2%)
Warren (Population: 138,300 | Annual growth rate*: 1.4%)
Hardin (Population: 112,600 | Annual growth rate*: 0.6%)
Daviess (Population: 103,000 | Annual growth rate*: 0.5%)
Madison (Population: 96,500 | Annual growth rate*: 1.2%)
Campbell (Population: 94,400 | Annual growth rate*: 0.2%)
Bullitt (Population: 83,300 | Annual growth rate*:0.7%)
Christian (Population: 71,400 | Annual growth rate*: N/A)
Oldham (Population: 67,500 | Annual growth rate*: 0.4%)
Pulaski (Population: 66,200 | Annual growth rate*: 0.5%)
Mccracken(Population: 65,800 | Annual growth rate*: 0.1%)
Laurel (Population: 61,900 | Annual growth rate*: 0.5%)

*From 2017 to 2022.

Kentucky Business Opportunities

We hope this snapshot of the Kentucky economy helps as you investigate business opportunities in The Bluegrass State! Starting a small business in Kentucky is an exciting journey; we know you’re probably eager to start. But remember, take your time to explore all your options. While you’ll always have the “opportunity” to start your own business, sometimes, it makes more sense to invest in an opportunity that already exists. These are called “Franchise Opportunities,” and they offer several benefits, including the recognition of a well-established brand and a proven track record of success.

To learn more, start by exploring franchise opportunities in Kentucky below!

Explore Opportunities and Insights

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Cooper's Scoopers

Ready for a rewarding new opportunity? Coopers Scoopers is growing nationwide Take control of your schedule, be your own boss, and make a difference in the lives of pet owners. Were here to guide you every step of the way

$40,000 Min Cash Required

Brusters Real Ice Cream

A Scoop Above The Rest - Bruster'sReal Ice Cream. Since 1989, Bruster's has become one of the country's favorite frozen treat chains. And for the last 20 years, we've been ranked by Entrepreneur Magazine as a top franchise. The Bruster's brand was built on the idea of EXCELLENCE and bringing on the RIGHT franchisees. A majority of entrepreneurs (just like you) make a conscious decision to become Bruster's franchisees not only for their love of our ice cream, but for their PASSION FOR PEOPLE. You'll find over 200 independently owned Bruster's locations in 26 states, Guyana and South Korea -- and more are springing up every single day. So, why Bruster's? It's not rocket science, it's ice cream:

$150,000 Min Cash Required

American Business Systems

American Business Systems (ABS) is the fastest way to start your own medical billing business. 100 Money-Back Guarantee. Profit from ABS 25 years as America's leader in Medical Billing and get Live Online Training and Free Lifetime Support.

$35,000 Min Cash Required

Spartan Floor Coatings

There are potentially countless other garage floor coating franchises that offer coatings of various styles & types that you have come across in your search for a cheap garage floor franchise or a concrete coating franchise. The dependability & variety of our floor covering franchise is unmatched. Our franchise offer services that cover much more of a home, including polyaspartic garage flooring, epoxy basement floors, & patio coating. What other garage franchise opportunities offer that much?

$150,000 Min Cash Required

SiteSwan

Start your own web design business with SiteSwan. Create & sell websites to small businesses in your area with our easy-to-use, private label website builder. Set your own prices - keep 100 of the sales. Our turnkey platform is designed for anyone looking to sell websites to small businesses - no experience needed.

$199 Min Cash Required

Proper Ecom

We build and manage Amazon stores for you. You bring the startup capital. We set up your store, add high-demand products, and handle everythinglistings, shipping, customer support, and growth. You own the store and keep the profits. We run the business behind the scenes for you.

Starting a Small Business in Kentucky