Kick-start your business in 2024
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QUESTION: I am thinking about starting a business but don’t know what steps I should take. Can you give me some direction in this regard?
ANSWER: Starting a new business is quite an undertaking that requires courage as well as confidence that you have what it takes to succeed.
The first thing you should do is construct a written business plan. I see too many entrepreneurs who invest a lot of money with start-up expenses before doing the necessary due diligence. A well-constructed business plan will address all of the necessary steps to take in the formation of a new business.
I normally am not one to encourage shortcuts. However, the SCORE organization has developed a one-page business model that helps you answer the critical questions facing a start-up business.
In essence, your business model is the structure with which you will take your product or service to market and make a profit. It makes you answer questions like who are your typical customers and how will you reach out to them? Who are your competitors, and how much can you charge for your product or service?
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Answering these questions can help you begin to crystallize your thoughts about your business model:
Do you have the necessary funds to cover your start-up costs, and will your monthly cash flow be sufficient to cover your costs of operation until you reach break-even?
Who are your target customers, and what value will you deliver to them?
How will you reach your customers? What is your marketing strategy? How much will it cost?
What is your e-commerce strategy, and what role will it play in your business?
Who is your competition, and how will you compete? What are your competitive advantages?
How much are your customers willing to pay for the value you offer? What are they currently paying, and what are your pricing tactics?
What resources are needed to produce your product or service, deliver it to market and make a profit? What infrastructure will it take to do it?
Do you have a team in place including an attorney, accountant and insurance agent? You can’t know or do everything, and you need to have professionals to back you up.
Richmond SCORE is conducting a two-hour workshop on the subject at 5:30 p.m. Jan. 10 at the Chesterfield North Courthouse Road Library, 325 Courthouse Road, Richmond 23236. Cost is $35. To register, log on to https://www.score.org/richmond/event/one-page-business-plan-0
Richmond-area business expansions, openings and closings
Whistle Express car wash
Whistle Express Car Wash plans to open in Powhatan County, Mechanicsville and Midlothian.
The Powhatan site, at 1880 Stavemill Crossing Lane, will open Nov. 3 and will be the chain’s 100th location. Whistle Express purchased the 2-acre plot in 2021 for about $1 million. Near Route 60, the property is diagonal from Walmart.
In Hanover, a location will open at 7419 Pole Green Road in the coming weeks. The parcel is a 2-acre plot bought by the chain that is adjacent to a Sheetz gas station and convenience store. Property records do not list a sale price.
The Midlothian property is at 10300 Midlothian Turnpike, an almost 1-acre plot bought by the company for $1.4 million in 2021 at the intersection of Midlothian Turnpike and Sturbridge Drive. It’ll also open in the weeks to come, the company said.
— Nov. 3, 2023
Wawa
Wawa opened a location at 5900 W. Broad St. in Henrico County on Sept. 21, 2023. The first Wawa store in Virginia opened in 1998.
R3 Screening Services
R3 Screening Services has opened at 7641 Hull Street Road, Suite 202, in North Chesterfield. The company provides background check and notary services and fingerprinting.
Salty Paws
Salty Paws, the Richmond area’s first dog ice cream bar and bakery, is now open at 2436 Old Brick Road, Glen Allen in West Broad Village.
88 Street Food
Popular drinks, including matcha milk tea, fruit tea and Vietnamese coffee are also on the menu. Read the story.
Rams House Bar + Kitchen
Rams House Bar + Kitchen from the Lindsey Food Group is headed to 2035 W. Broad St. in Fan this summer.
Revel Market & Bar
Revel Market & Bar from Julep’s rolls into North Side with tapas, craft cocktails and more. 6223 Lakeside Ave. Read the story.
Popshelf
Popshelf, Goodwill, Chipotle headed to Shops at Stratford Hills
The Veil Brewing Co.’s new taproom
The Veil’s new taproom, located in Scott’s Addition at 1509 Belleville St., will be three times the size of its current space, with a patio, an event space and a new in-house food concept, Nokoribi, from the owners of Longoven.
P.T. Hastings Seafood
P.T. Hastings Seafood, founded more than a century ago, closed in April following a severe brain injury suffered by its owner.
Genova’s Pizza Station & Take Out Kitchen
Genova’s Pizza Station & Take Out Kitchen opened at 723 Buford Road in Bon Air on April 19, 2023. This is the newest venture from the owners of Casa Italiana and Pizza Express, over 4 years in the making. Read the story.
Eggs Up Grill
Eggs Up Grill is now open at 12050 Southshore Pointe Drive in the Southshore Shops off Hull Street Road in Midlothian. Read the story.
Killa Dillas
Killa Dillas is a new quesadilla and nacho spot at 6114 Lakeside Ave., next to the Lakeside Farmers Market.
Luxe New American Bar & Grill
Luxe New American Bar & Grill, a new fine dining concept, is now open at 1331 E. Cary St., next door to Siné Irish Pub in Shockoe Slip. Read the story.
RICH Nail Lounge
RICH Nail Lounge has opened at 1106 Hull St. in Manchester. — April 2023
Sycamore Jewelers, Midlothian
Sycamore Jewelers at 4676 Commonwealth Centre Parkway in Midlothian was set to close in April 2023. Terry Sprankle and Joe Cheslock opened the business in 1998. The business previously had locations in Sycamore Square in Midlothian and Chesterfield Meadows. — April 2023
Mi Casita Restaurant
Mi Casita Restaurant opened at 2606B Broad Rock Blvd.
Wok This Way
Wok This Way opened and closed this year. It was located at 13 W. Broad St.
Mayu Sushi & Thai
Thai Diner Too, the Carytown mainstay at 3028 W. Cary St., has rebranded at Mayu Sushi & Thai.
Max’s on Broad
Max’s on Broad restaurant is closing, will relaunch as new concept.
Ironclad Coffee
Ironclad Coffee opened three locations at Richmond International Airport, including this pre-security café in the atrium. — March 2023
Grit Coffee
Grit Coffee Roasting Co. will open its second Richmond location in Scott’s Addition on April 17. — March 2023
Rockler Woodworking and Hardware
Storefront for a Rockler Woodworking and Hardware location. The brand is opening a new store in Short Pump by the end of March 2023.
Boiling Crab Richmond
The Boiling Crab Richmond is now to open at 2053 W. Broad St., Richmond, in March 2023. The Orange County, California-based chain has 25 locations in the U.S., as well as Australia, China, and Saudi Arabia. The Richmond location was previously Cornerstone Cigar Bar.
Blue Cow Ice Cream Co.
Roanoke-based Blue Cow Ice Cream Co. entered the Richmond market last year and now has two Richmond area locations: one in the Village Shopping Center at 7017 Three Chopt Road and another in Short Pump in the Greengate Shopping Center, 12171-C W. Broad St.
Blue Cow churns out hand-crafted flavors in small batches made from simple and real ingredients, including non-dairy and vegan offerings. Examples of flavors include Sea Salt Brickle with Caramel Swirl and Backyard Basil Chip.
Suzy Sno
Suzy Sno’s new location in Carytown at 3423 W. Cary St. is now open.
Diablo Doughnuts RVA
Diablo Doughnuts RVA, located at 1090 Virginia Center Parkway, Suite 105, in Glen Allen, hosted its grand opening Feb. 11.
The Brass Tap
The Brass Tap opened in Libbie Mill at 4901 Libbie Mill E Blvd Suite 100. It has a focus on beer with 60 beers on tap, plus 20 bottled beverages.
Graybo’s Sports Cards
Graybo’s Sports Cards has opened at 214 E. Grace St. in Richmond. The business sells baseball, football and basketball cards.
Blue Ridge Cyclery
Full-service bike store Blue Ridge Cyclery to open at Libbie Mill-Midtown
BigWife’s
BigWife’s Mac n’ Cheese brick-and-mortar shop is now open at 1017A N. Arthur Ashe Boulevard in Scott’s Addition.
Jeni’s Splendid Ice Creams
Jeni’s Ice Cream in Carytown at 3500 W. Cary St. in Richmond.
Acacia Midtown
Aline Reitzer of Acacia Midtown came up with the idea for Richmond Restaurant Week. The new location at Libbie Mill will be among the participants in the annual event.
Zoom Room Richmond
Zoom Room has opened its first Richmond area franchise 3450 B Lauderdale Drive in Short Pump.
Torchy’s Tacos
Torchy’s Tacos has opened two fast-casual restaurants in the Richmond area: one in Short Pump and the second in Carytown. A third is on the way for Chesterfield.
Planet Fitness
A Planet Fitness location is expected to open this winter at Stony Point Village shopping center in Richmond.
Raising Cane’s Chicken Fingers
The fast-food restaurant chain Raising Cane’s Chicken Fingers is planning to open two Richmond-area locations in fall 2022.
Locations are planned at 12721 Jefferson Davis Highway in Chester and 1321 Huguenot Road in Midlothian. The company currently has a location at 805 W. Grace St. in Richmond.
The Baton Rouge, Louisiana-based company has nearly 700 locations in 35 states and Guam. The chain was founded in 1996.
— Sept. 1, 2022
Three Notch’d Brewing
Three Notch’d Brewing has expanded its Scott’s Addition location at 2930 W. Broad St. The group acquired a former wine shop on Broad Street and pizza kitchen next door, which will be combined. Muralist Nico Cathcart was hired to design and paint two new pieces inside the space.
Three Notch’d, founded in 2013, operates five venues throughout Virginia.
— August 2022
Retail or Resell
Footwear business Retail or Resell has signed a lease in Short Pump’s Towne Center West Shopping Center.
— Aug. 9, 2022
Marshalls
A Marshalls location is planned in Staples Mill Square at 9041 Staples Mill Road in Henrico.
The chain dates to 1956 and includes more than 1,000 stores. — July 21, 2022
Raising Cane’s
Raising Cane’s is planning a location in the 6900 block of Lake Harbor Drive in Chesterfield County, Cushman & Wakefield | Thalhimer announced.
The office represented the company in the sale.
Founded by Todd Graves in 1996, Raising Cane’s Chicken Fingers has more than 530 restaurants in 28 states and other countries.
The 1.9-acre Chesterfield plot sold for $2.5 million. A 2023 opening is planned.
— June 22, 2022
My Favorite Muffin
My Favorite Muffin has opened at 10174 W. Broad St. in Glen Allen. The local owners/operators are Sam and Suzanne Makarem. — June 7, 2022
Mattress King
After more than 40 years of carrying the moniker of Mattress King, business owner Anil “Neil” Gulati, 72, said he’s ready to retire this year. Read more here.
Anthony’s on the Hill
Anthony’s on the Hill in Church Hill announced that it is permanently closing. — March 2023
The Mill on MacArthur
The Mill on MacArthur closed Feb. 26. — February 2023
