によって Charity Porter 2年前.
106
how to open and operate a business
Choosing the right business structure is crucial and involves deciding between an LLC, partnership, or sole proprietorship, each with its benefits and drawbacks. Estimating the number of employees and their wages requires a thorough business plan and financial consultation, especially when considering different business models, such as a physical location versus a mobile food truck.
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how to open and operate a business pros and cons of hiring a logo designer vs designing it myself they specialize in designs that grab attention if you pick the right one designers know what is popular would an LLC, partnership, or sole proprietorship be more effective? how to file taxes for said business be sure to file the correct tax return keep up with deadlines ensure all documentation is correct and accessible meet with a financial advisor how to determine a good location for said business consider parking and/or drive through options think about advertising and recruiting efforts go where the demand for your business is find a safe location think about venders and suppliers ensure the potential spaces are within budget how to go about getting a business loan to open said business follow up and stay on top of paperwork fill out and submit application narrow down the right lender for my needs gather documentation figure up approval odds before meeting decide what kind of financing I would need figure out what each lender I am interested in is looking for would it be better to hire a manager up front to train and such or easier to do it myself initially? manager can take the scheduling and training off my plate completely doing it myself would ensure everyone was trained the way I wanted them to be hiring a manager up front would give me more time to focus on the business as an entirety hiring a manager up front would cost more how to deduce how many employees I would need and what to pay them after speaking with the bank and determining a business plan and loan, I can estimate how much I can afford to pay employees initially depending on the hours of operation will be a factor in determining how many shifts I would need if I decide on a food truck, I wouldn't need as many employees if I rent or buy a site built space, I would likely need more employees what is needed from the irs to make this business legal? decide to offer employee healthcare or not accounting for business apply for EIN figure up business taxed get a business structure together pros and cons of buying a mobile food/coffee truck smaller space means fewer employees cheaper alternative to a site built space having to get permission to park certain places mobile to park in different places for better business pros and cons of renting a space when renting there is a landlord to fix issues with the building. lower cost of maintenance if I bought the property, it could be whatever I envision for my business if the business didn't survive, I could get out of a lease easier than selling the space if I buy, the space would be exclusively mine cost of rent is more expensive in a site built space how to draw up a business plan get a rough financial plan together look up commercial listings to get an idea of what type of space I would need get with several different banks to explore my options decide what kind of business I want to open find a niche
