Starting a business is an exciting venture for a budding entrepreneur! It can also become a complex process, and ensuring that you are covering all bases in the beginning can save you time and money in the long run.
If you are starting a business that requires you to operate on a specific property, such as a restaurant or storefront, you will have zoning laws and legal codes to meet. There are different requirements based on what type of business you are running.
Hiring a lawyer can help you determine what requirements you have to meet. They can also help you to get in touch with the right people to move things along. Think of your lawyer as a connector. They know all of the right places to contact, and how to contact them, to get your business started as quickly and efficiently as possible.
Figuring out what type of entity you’ll become is also important. Should you become a corporation, an LLC, or just operate as a sole proprietor? Corporations have the most protection financially and legally, but also have the strictest requirements when it comes to forming and operating.
An LLC will protect you to a certain point financially, but will also require documentation which states your intentions as far as making decisions, dissolving your business, and distributing finances.
The easiest entity to claim is a sole proprietorship, but that connects you completely to your business, and you are personally responsible for the actions of your business both legally and financially.
You also need to determine your place of operation. Finding a great location and the perfect space is exciting and full of unlimited possibilities! Once you find the perfect space, you can start designing it according to your vision for your business. Finding the right furniture should be a top priority, maybe a pre furnished location would be the smarter choice. I’ve always used Cornerstone Furnished Solutions and highly recommend them.
When you decide what space to use, you may want to consult a lawyer to go over the lease with you and ensure your interests and the interests of your business are protected.
Unlike a personal lease, you will need to ensure that the longevity and restrictions allow you to operate your business professionally. If you are purchasing the building, you will want to get a lawyer as soon as possible to offer you advisement and research the property.
Starting a business can be exciting and exhilarating! By knowing the simple steps to getting started, you can make sure you are prepared to begin your journey to success.