Four Things to Know Before Starting Your Business in Florida
March 14, 2019
Your Business Plan
While you have no doubt been dreaming of your business in Florida for some time now, writing out a business plan is the first step towards turning your ideas into a reality. This document states your business goals and how you plan on achieving them down to the specifics.
You will need to be aware of such details as: • The cost to start and run your business • What you plan to do with your business • The demand for your business • Your target audience and how to reach them • Your competition and how to set yourself apart from them • Potential problems in the future and associated solutions
Unique Business Identity
In a world full of competing businessmen and hungry entrepreneurs, standing out from the crowd can seem like quite the challenge. Creating a unique identity for your business can go a long way with this. But you will need to do more than just decide on an attention-grabbing name that complies with Florida State and Federal Law. With the internet wider spread than ever, a well-designed website is a necessary tool to bringing in customers and spreading awareness of your brand.
Need help with a trademark search or establishing a unique name? Contact us for assistance.
Money Money Money
Your business plan might have the perfect road map to turning a profit, but that means less than nothing if you do not have the finances to get started. There are many ways to get this needed capital, but all carry their own risks and rewards and should be decided on a case by case basis with great care. Consider using your own savings, a home equity loan, or another type of loan through a bank, credit union, or microlending program. Trying to capture the attention of a venture capitalist is technically a possibility, but a long shot for most small business owners. You could also ask friends or family for a gift or loan, maybe in exchange for a share of your business.
Find the Right Allies
There’s no shame in having questions or asking for help. If anything, finding the right allies is a key component to success. Tax professionals, of course, aid with taxation, while a branding consultant can help with establishing your company’s identity as discussed above. A Florida business lawyer, however, is one of the most versatile and knowledgeable people available to you. They can handle multiple aspects of your business, such as trademark registration, business entity formation, and many others. A lawyer can also help with any future litigation or legal issues that spring up from sharing ownership of a business.
Tyler Thompson is a second generation St. Petersburgian with a passion for reading and writing. In 2018 he finally made his way to FL Patel Law PLLC where he has found a home for himself as Project Manager. He is an unapologetic dog person who enjoys spending what free time he has with his friends and family.
About us and this blog
This our small business law blog. We provide information about Florida business law, LLC's, C-Corporations, S-Corporations, contracts, and provide resources for small businesses.
If you have a question about starting your business, want to discuss a contract, or would like counsel on a specific matter please do not hesitate to contact us. We provide a free 30 minute consultation for all new clients.