Launching a new company is a goal for many people. By starting a new small business in your local community, you can make your dream a reality. Plus, you can support your town, bringing in products or services that may otherwise be hard to access.
If you’re interested in starting a business in your local community, here’s a quick how-to guide that can help, courtesy of FRAMCO.
Forming Your Small Business
One of the first steps that you’ll need to take is formally forming your business. In most cases, this involves choosing a business structure, picking a company name, filing with your state, preparing for taxes, and getting local licenses and permits.
If you aren’t sure which business structure is right for you, consider setting up an LLC. With an LLC, you reduce your liability and might capture some tax advantages. Plus, there’s less paperwork, and it’s more flexible than some other options.
You can avoid high-cost lawyer fees by contacting FRAMCO, as we just started offering this business service. You can also choose to use a formation service to launch your LLC or to simply do it yourself. Just make sure that you review local regulations, as laws around LLC formation do vary by state.
Marketing Your Company Online
Once your company is formed, it’s time to start attracting customers. One critical part of marketing your company is establishing your digital presence.
Even if you intend to mainly operate from a local storefront, having some level of online presence is essential. Not only does it help potential customers find out about your business, but it also makes your company feel more legitimate.
Often, the easiest way to begin is by setting up a website. After you find an appropriate domain name, you’ll need to actually create the page. While a DIY web builder can do the trick, hiring a web developer (FRAMCO has multiple members offering this service) may be the better approach if you want a top-notch design.
Another essential step to take is designing a logo. A logo is excellent for boosting brand awareness and making a great impression. Plus, it can help you separate yourself from the competition. Hiring a web developer is your best chance at building an attractive and effective logo. If you have a tight budget, you can skip logo design services and try to make it yourself. Select a style and an icon, add your text, and review the results. Then, customize the one you like best by adjusting the font and color until it’s the perfect match.
Finally, secure every social media handle you might need. You can choose a matching set of handles by doing them all at once, making it easier for customers to track your business across several platforms. If social media management is not your forte, and as for any other service, ask FRAMCO to be put in contact with trusted members. We are always here to help your business needs to the best of our ability.
On a side note, you also want to make sure that you have the gear and peripherals to get all these done. Often, you can already do much of your marketing through your smartphone, so make sure you have a model that’s up to the task, as well as accessories like chargers, cases, and more to keep it in tip-top shape.
Thinking Long Term
It’s never too early to think about the future of your business, whether that means expanding to other locations or giving yourself a boost by pursuing an online degree that will give you extra insights in the field.
Online programs also have the added benefit of allowing you to learn at your own pace, meaning you can keep working as you go. Plus, you could pick any local or international university, giving you the opportunity to discover new cultures and ways of doing things from the comfort of your home.
Starting a small business the right way
Connecting with Your Local Community
Small businesses are incredibly beneficial to local communities. Along with potentially creating jobs, they can bring more money into the area.
Plus, they may bring in goods or services that weren’t available nearby into town. This livens up neighborhoods and benefits to local populations directly.
successful small business
Once you get your company set up, spend time connecting with your local community. Attend local events to boost awareness of your business and to forge new relationships. Volunteer with local non-profits to show your support for the region. Attend international and regional chambers of commerce events to meet and partner with other small business owners for cross-promotions. That way, you can show your community you care while also increasing interest in your business.