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Florida Business Experts Share Successful Startup Stories

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Success does not always happen overnight. Margaret Johnson is one of many examples that showcase that success is a process. Margaret Johnson, who is the owner of Salon Kyoor, an LLC based in Jacksonville, Florida exemplifies that statement.

In 2009, she started her career as a hairstylist. She experienced a health scare that led to her questioning the dangers behind some chemicals. She began doing research on chemical-free products in her household. 

People around her started asking about her products and that is when her idea for a natural-based hair care product line and merchandise began. However, her business closed for seven years due to personal losses and the COVID-19 pandemic. She enlisted the help of a business consultant who then assisted with getting her business back on track. Margaret continues to grow her business while pursuing a business degree. 

According to the U.S. Small Business Administration, starting a business includes research and detailed planning, making important financial decisions and legal paperwork. One of the steps to starting a business is to choose a business structure which is important because it affects the legal status of the business. One of the most popular business structures is Limited Liability Corporation (LLC) because it is simple, flexible and there is limited personal liability. 

Establishing an LLC in Florida can be a seamless process that requires almost no stress, giving entrepreneurs peace of mind when they enter the business world. Florida is a state that is filled to the brim with opportunities and possibilities for new and already established business owners who want to sell something unique and innovative. 

If you would like to start an LLC, here is a guide on forming an LLC.

Create a Business Name

It is often said that first impressions last therefore it is a step that cannot be missed. When considering a name, it is important to take into consideration the rules for LLCs. This includes incorporating LLC into the name and not linking the name to a federal or state agency. Your name should also not be misleading and should be discernible from other businesses. It is recommended that entrepreneurs register a URL for their website. They might not want a website now but they might need it in the future.

Find a Registered Agent

The next step is to appoint a registered agent that will help with legal needs. A registered agent or service will mediate between the business and the government. It is important to note that every business must, in writing, appoint a registered agent that is an individual of the state or belongs to a registered agent service. Without a registered agent, the LLC might not succeed.

File the Article of Organizations Document

Once LLCs have an agent, they can now move on to filling out the Articles of Organization. This document will be needed to register an LLC with the state. Entrepreneurs can choose to do this step on their own or they can use a service. The form can be submitted online once it has been obtained with written consent from the registered agent.

Create an Operating Agreement

When entrepreneurs have registered their company, it is suggested that they write an agreement that details the operations of their business. They can hire an attorney to help them with this step or they can find a template online. Make sure to read up operating agreements so that all the needed information is included.

Obtain Permits and Licenses

Before starting operations, there might be legal documents such as permits and licenses that will be needed. According to state law, LLCs can only provide one specific service of which all members of the LLC should be registered for. Furthermore, permit costs will vary based on the type of permit needed. Even though not all businesses need licenses, they can check online to find out if their business requires licensing.

Get a Business Bank Account 

Lastly, create a separate bank account for the business. It is important to separate money coming in from the business from personal accounts. To open an account, one can go to a financial institution of their choice. Some banks might ask for operating agreements or Employee Identification Numbers.Â