For example, which are you more likely to remember: “Jane Doe Landscaping” or “Sweeping Vistas Landscaping”?
You should also check whether someone has registered the name as a trademark. You can search the federal trademark database, available at https://www. uspto. gov/trademarks-application-process/search-trademark-database.
Reserve the name if it is available. There’s no need to wait until you are prepared to create a website.
Enter information directly into the form or print the form off and use black ink. You must file the form with the county clerk for every county where you intend to do business. [5] X Research source The fee is $25. You may need to pay more depending on the counties where you file. Remember to get a copy of the form, which you will need when you open a bank account. You might need to pay a small fee.
You can get your EIN online at https://www. irs. gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online.
You can also call a business information specialist at 518-453-8130 with questions. Someone is available on weekdays from 8:30 am to 4:30 pm.
If you work in New York City, you should also register for city taxes. Call the city’s Department of Finance at 212-504-4036. [8] X Research source
You might need to pay unemployment insurance for your employees. Call the Department of Labor at 1-888-899-8810 to register. You probably also need to carry workers’ compensation and state disability insurance (SDI). Call 877-632-4996 for more information.
It’s better to keep your business banking separate from your personal banking. That way, you can more easily track your business expenses. One good idea is to open your business account at a different bank.
Don’t rely on your homeowners’ insurance policy. If clients are injured when visiting your home, they might need be covered. [12] X Research source There may be other insurance available unique to your industry. Talk to your agent.
If you want to rent commercial space, consider working with a real estate agent. Otherwise, you can find commercial space on websites such as Loopnet. com. Generally, commercial rents are based on the square footage or on a percentage of your gross profits.
Business description. Capture the essence of what you’re trying to do with your business. For example, you might want to start a cosmetology service in New York City for women with sensitive skin. Market analysis. Describe the industry—its health, size, new trends, etc. Place your business in this larger framework. For example, specialty cosmetology might be an emerging field. Also describe your typical consumer. What is their age, income, gender, educational level, etc. ? Competitive assessment. Identify any key competitors and analyze what they do well. Explain how you will distinguish yourself. Marketing plan. You should identify how you will promote your products or services. Paid advertising? Social media? Discuss how your pricing strategy plays into your marketing. Operating plan. Identify anyone else who will help you manage the business. If you sell products, identify who actually manufactures them. Financial needs. Discuss how much money you need and what you will spend it on. Lenders and other investors need some clue as to your financial stability, so create financial projections for three years.
Business attorney. A good attorney can help you negotiate favorable contracts and represent you in case you are sued. They also are helpful advisers. For example, an attorney can guide you through the process of firing or disciplining an employee without getting sued. Obtain a referral from your nearest bar association. [15] X Research source Accountant. A good accountant does more than just prepare your taxes. They can also help you generate financial documents to include in your business plan, and they can help you make smart financial decisions. [16] X Research source Bookkeeper. You can use bookkeeping software to start. However, as your business grows, you might need to hire someone to record your daily business transactions.
