Many people are trying their hand at owning a business since it’s much easier to get started now than it was in the past. If you have a good business idea, the first thing you need to do is write up a business plan. This helps you map out how you’re going to gain financing for your business and also how you’re going to advertise to your target market.
If you’re not sure what kind of business to start, some of the most profitable businesses in Florida include restaurants/breweries, nail salons, hotels/motels and auto repair shops.
Once you have your business idea, your business plan and financing for your business, you’re ready to begin the process of opening up and running a successful business. Here are four quick tips to follow when starting up and advertising a small business in Florida and other parts of the United States.
Determine Your Business Structure
Depending on what type of business you start, you may not register it as a limited liability company (LLC), which is the most common business structure. Another common type of business structure is a sole proprietorship, where you own and run the business all on your own. The final type of business structure is a corporation, and this is done to limit the liability of the owners and shareholders. You can also change your business structure later as your business grows.
Register Your Business as a Legal Entity
Registering your business legally is a lengthy, yet necessary process— no matter where your business is located. This process consists of registering your business name, registering from an employer identification number (EIN), registering with the department of state (DOS), and registering with the department of revenue (DOR).
Depending on the type of business you’re starting, you may also need to apply for a business license/permit/registration— especially if your work lies in the skilled trades. You’ll also need to check the local regulations and requirements as they pertain to your business.
Hire Your Team
Once all of the legal aspects of your business are taken care of, it’s time to hire the people you may need to work for you. Again, depending on the type of business you’re opening, you may or may not need additional employees. But no matter what type of business you have, it’s nice to have a few employees that can help you with the daily tasks that come with running a business.
You’ll also benefit from having a marketing team or a single marketing expert that is knowledgeable in different types of marketing. Some of the basic marketing strategies you’ll be using include social media marketing, email marketing, search engine optimization, and traditional marketing techniques, such as posting flyers in your local community.
Advertise Your Business
Right before you open your doors, you need to advertise your business. This is different from what your marketing team will be doing. Advertising, on the other hand, is simply making your target market aware of your business’s existence, and this is just as necessary as marketing.
You can use traditional marketing techniques, such as posting flyers, as a way to advertise your business, but you can also advertise on social media as well. Another way to advertise your business is to attend local (and even non-local) business events that allow business owners to advertise their businesses.
Investing in promotional items such as pens, keychains, refrigerator magnets, buttons, cell phone cases, T-shirts, hats, water bottles, and mugs is a great way to make your business more memorable for those attending these events. These are simple, everyday items used by the majority of people, and having your logo on them is free advertising for your business.
A new startup takes a lot of work, no matter what type of business it is and even if you’ve already started businesses in the past. The hardest and most tedious work is in the beginning when you have to do your market research and math to develop your business plan, and then you have to wait for financing.
Once you’ve gotten the money to start your business, you have to go through all of the legal tasks so that you’re legally able to run your business. Finally, you get to hire help and start advertising and marketing— which can be an ongoing task itself.