How to Start Business? As a Legal Business Planner, I have helped over 3000+ different businesses to get started.
We completely understand the requirements, legal documents and basic structure in order to get clearance from the respective departments.
How to Startup Your Own Business ?
The very first step is to make it very clear in your mind about: What Business to Start? IF, in any case, you are not sure then below we have given the list of businesses you can start from Home and Continue online.
- Lip Gloss Business
- Vending Machine Business
- Medical Transportation Business
- Tutoring Business
- ATM Business
- Wine Business
- CBD Business
- Courier Business
How to start LipGloss Business –
The cosmetic industry is booming with a very rapid rate every year. In 2018, Industry estimated business was of $500+ Billion and is expected to turn over $800 Billion by 2024
Out of which Lip Gloss and Lipstick collectively did a business of $12 Billion in 2018 .and will reach upto 20 Billion by the end of 2024.
And we have seen many new brands coming in the marketing with high quality at cheaper prices and after taking the business of the established brands.
In the last 2 years, many case studies were noticed where an ordinary man or woman becomes a millionaire just by selling a single cosmetic product (lip gloss or Lipstick).
How to start a lipgloss business?
One of the quickest way to start your own lipgloss business is by buying Whitelabel lip gloss from the open market and label it with your own brand. Definitely FDA is involved in it, make sure you fulfill all their requirements in terms of safety and quality of the product.
Once your product is ready and now you want to publish it online or offline. Please ONLY make claims of what the product is made of.
ORGANIC LIP GLOSS
IF you use the word ORGANIC Lip Gloss then, it should contain 95% of the organic components or items as well as In term of Organic product you need to take a clearance from USDA as Organic product lies under the USDA.
However, the product category “cosmetics” comes under FDA, so you must get approval from both the departments before launching your product in the market.
Vending Machine Business
How to Start Vending Machine Business? Running a vending machine business is among the best business in the world.
However, you need to take care of the things given below:
- Vending Machine
Vending Machine: Firstly, you need to decide which type of vending machine you wanna buy. Is it going to be of toys, candy, snacks?
It comes in multiple price ranges starting from $xxx up to $5xxx.
However, buying a vending machine worth $5xxx actually do not worth at all. You will be able to generate that much amount in years.
It is highly recommended to buy a refurbished machine to get started.
Space: You need a place with more footfall. Even if you have that near to your house, you can place it outside of your house or rent a space in a shopping mall.
Product: Try to choose a product with a higher margin or profit. And little adjustments in the machine working pattern will do a great job.
If you do the all steps correctly. Your business will start within $2500 and you will start generating profit from the very first day.
Medical Transportation Business
How to start Medical Transportation Business – The healthcare industry is one of the largest in the world and is growing rapidly. Medical Transportation Business is a booming business opportunity that provides a valuable link to those in need. But you do need to have a few things in place before you launch your medical transportation business.
The 6 steps required to start a medical transportation business are:
1) Select a legal structure – You will have to decide the legal status of your business such as proprietorship, partnership or LLC (Limited Liability Company).
2) License and permissions – Like any other business, there are certain licenses required for practice. Some of the things you will require are –
• Federal employer identification number.
• Local business certificates and permits as required by your city or government.
• Article of incorporation filed with the secretary of state or a partnership agreement if you are in a partnership.
• Certificate of commercial liability insurance for atleast $100,000 per claim and minimum annual aggregate of atleast $ 300,000.
• Certificate of worker’s compensation insurance.
• Copy of driver’s license and driving records.
• Copy of proof of commercial vehicle insurance.
• Special vehicles permit or drivers’ permits (if applicable).
• First aid and CPR certificates.
• Copy of pre-employment drugs and alcohol tests.
3) Pick a name – You need to pick a name to operate your business under but make sure it is not already in use or trademarked.
4) Vehicles and Equipment’s – You can start with one vehicle and slowly add a few more once you start generating profit from the business. You might wanna invest in a vehicle with a lift or a ramp or you could use manual ramps. Make sure the vehicles used to dispatch rides are licensed. Also, don’t forget to get a good liability insurance policy for the vehicles in use.
5) Deciding service hours – You can choose your hours of operations. You should provide the service on weekdays between 8:00 AM till 6:00 PM.
6) Market your business – Once you’re all set up, it’s time to go out and get your first client. Send marketing information to prospective clients to let them know that you are open for business.
And there you have it! These steps will help you get your medical transportation business in operation.
How to Start a Tutoring Business? Starting a tutoring business is a great way to earn or even for a career change. But you do need a few things in place before you launch your business.
The following are the steps that can help you do it.
1. Make a list of subjects and educational level you can help with: The very first step is to decide on the subjects that you’re going to teach. You may not need a college degree, but having credentials in the subjects can be of help.
2. Determine the list of potential clients: After you determine the subjects and the level you’re going to teach, make a list of clients you can target.
3. Decide how you are going to tutor students: Decide whether you’re going to tutor the local students, or tutor online or you could do both.
4. Where to conduct the sessions? : If you decide to tutor the local students, look for options where you can conduct the sessions. If you plan to tutor the students in your home, you might want to check with your county/city zoning department. You can also tutor the students in a public library.
5. Insurance: Make sure you get good liability insurance, in case a student gets hurt on the premises.
6. Gather the tools required: You can get workbooks and other tools to assist you in tutoring, online or in a teacher’s store. If you decide to tutor online, make sure to have a good webcam with proper audio and a good network. You can also use a digital whiteboard.
7. Pricing policies: Consider the topics and grade level while deciding on the pricing. The more advanced the topic/grade, the more you can charge.
8. Deciding on a business structure: Consider the pros and cons of different business structures like a sole proprietorship, a Limited Liability Company or even DBAs.
9. Business Name: Decide a name under which you want to operate your business. Just make sure the name you decide on is not in use.
10. Licensing and Permits: There is no special license or permits required to start a tutoring
Business, but you might want to consider registering your business or getting a tutoring certification.
11. Marketing: You can advertise your business online, in public libraries, local schools or a tutors’ directory. Since a lot of people rely on the internet, you can also create a website to spread the word.
How to Start ATM Business? – ATM Business is a lucrative business and is a great source to earn a passive income. It is extremely profitable and requires very little investment. The following are the few steps to help you learn about the business and its requirements if you’re planning to start it.
- PLANNING: Planning is one of the most crucial steps. A good plan is essential for the success of any business. Research and plan out all the required details before going further. Some of the points to consider are the startup cost, target market, and business name.
2. INVESTMENTS AND COSTS: The total investment will be determined by the number of machines you want to start with. A machine can cost you between $3,000 to $10,000. You can also consider leasing a machine instead of purchasing one. Also, each machine is required to have a minimum of $2,000 in cash.
The other important items you need to invest in is a good insurance policy, a vehicle to transport cash, a plan for routine maintenance, a phone line or internet access for each machine and a computer to check the regular status of the machines.
3. TYPE OF BUSINESS: You will have to decide the legal status of your business. There are different structures of entity to choose from such as corporations, Limited Liability Company, or a DBA.
4. LICENSE AND PERMITS: After registering your company, apply for the required licenses from the government to operate the business. some of the legal documents required are:
- Employer Identification Number
- Business Permits
- Zoning License
- Certificate of Incorporation
- Federal Tax Identification Number
- Insurance Policy
5. LOCATION: One of the major factors that ensure the success of an ATM business is location. Do proper research before picking out the ideal spot. Some of the prime locations include shopping areas and malls. Also think of places where vendors don’t accept credit cards or other forms of payment.
6. INSTALLATION: Once you have picked a good location, go ahead and install the ATM machines and fill it with enough money for customers to withdraw regularly.
7. HIRING MANPOWER: You will need to employ a number of people to run your business successfully. Some of the people required includes: a chief executive officer, a system administrator, accountant, marketing executive, customer service officer and a driver.
8. MARKETING: ATM business is one of the ventures that require little marketing. There is no direct interaction with the customers, but you will be in regular contact with the merchants. Develop a strong connection with them to ensure they help you get recognized and have a solid reputation.
You can also establish a business website to allow custo16mers to learn about the company and the services you provide.
You can also take advantage of Social media to attract new customers.
How to start a Wine Business: The Wine business is one of the most lucrative businesses today. It is a field of business that is growing fast. It is a dedicated business that requires strategic planning. Since it involves obtaining permissions and licenses regularly, it is a tough business to get into.
If you are planning to get into wine business you might want to consider the following things:
- Choosing the niche: There are a lot of different business ideas to choose from. Some of the ideas available are starting with a wine shop, wine bars, vineyards, wine exporter, winemaker, e-winery or wine manufacturing.
- Investment: It is a business that requires a large amount of investment but the investment depends on the size of business you plan to operate. It also requires annual maintenance that might cost you around $20,000 per acre.
Other investments required are the cost of machinery, the cost of production building, and the cost of storage and cellar equipment. Other additional cost includes the cost of getting the permits. Since the business requires a large amount of investment you might not see any returns or any gains in the first several years.
- License and permits: License and Permits required are as follows:
- Business license
- Business tax ID
- Winery sellers permit
- Business name permit
- Health department permit
- A license from U.S. bureau of alcohol
- A Federal and a State Employer Identification permit.
- If you decide to start a corporation or a LLC you will require a Certificate of Incorporation.
- If you decide to go with a partnership it is required for you to file a DBA.
- Excise rates: Excise rates vary with states, type of the wine and alcohol content. Some of the states with lowest tax rates are California, Texas, New York, Kansas and Wisconsin. States with highest tax rates Kentucky, Florida, Alaska, Iowa, Alabama and New Mexico.
- Federal Excise Rates on wine:
Up to 14% ABV: $1.07
14% to 21% ABV: $1.57
21% to 24% ABV: $3.15
Sparkling Wine: $3.40 [regardless of alcohol content]
ABV = Alcohol by Volume
Other factors to determine excise rates on wine also include the case of bottle fee. It also depends on the size of the container.
- Marketing: The best way to promote your newly set up business is through online or print business directories.
If you decide to import wine, it is necessary for you to submit documentation to the U.S Treasury Department. To import wine in the U.S, you’re also required to have a business office and a properly maintained staff.
You can also hire a customs broker to help you prepare the necessary documentation. It is going to add to the cost but can save a lot of time.
How to Start a CBD Business? – CBD industry is one of the fastest-growing industries in the USA. It is a huge market that offers countless opportunities. It is a challenging industry to get into, especially because of the legal requirements. But before getting involved in the CBD industry, you might want to learn a bit about it.
What is CBD?
Cannabidiol also known as CBD is a compound found in cannabis and hemp plants. Cannabidiol is a remedy that is used very often for pain relief and to reduce anxiety. CBD also has other benefits like reducing acne and depression. It is also getting popular in dietary products. It has tons of other health benefits and is commonly used in therapy. CBD oil is one of the most popular products.
Following are the details to help you if you are deciding to get in the CBD industry.
- CBD extracted from hemp plants is fully legal. However, it is illegal to sell products containing CBD extracted from Cannabis in some states.
- It is legal to sell products containing CBD extracted from hemp plants only if the products contain less than 0.3% Tetrahydrocannabinol(THC). Products containing THC above 0.3% is illegal.
- CBD products are also required to get an approval from FDA (Food and Drug Administration). It is against the FDA regulations to promote CBD products as providing health benefits.
Creating a business plan: It is one of the most crucial steps in planning and starting a business. Before you go ahead with the business it is important to design a blueprint of all the things required. Some of the important topics to consider are the capital, your target market, the name of the business and the ongoing costs of the business.
Business Entity: After you are done considering and deciding the business name you need to decide on the legal status of the business. You can start a proprietorship, set up a LLC (Limited Liability Company) or you can operate as a DBA.
Registration: The very next step is the registration for the federal and the state taxes. You will also have to apply to get an EIN (Employer Identification Number).
Permits and Licenses: To learn about getting the state permits and licenses you require, you can either check with your county, town, city clerk’s office or you can take assistance from the local business directories.
Getting a trusted supplier: If you decide to be a distributor, you will require somebody you can buy products from. Make sure the supplier is trustworthy.
Location: The physical location of the business is one of the most important topics to consider. You need a place to sell your products from if you’re a merchant. You can either purchase, build or even lease a place. Make sure you meet the zoning requirements.
Insurance: It is a legal requirement in some of the states to get Workers Compensation Insurance if you decide to hire people to work for you.
Branding: Branding is an important part of starting a business. A solid brand will help you gain customers and to stand out in the market. Design a logo that can attract people and can help you get business.
Build an online presence: According to some researches, most CBD products are sold online. Building a website or posting on different social media platforms can help you market the business and create a loyal market for your products.
Marketing: CBD products are not very difficult to market due to its increasing popularity. Some of the tools you can use to promote or market your products are SEO (Search Engine Optimisation), content marketing, online ads, and social media platforms.
How to Start a Courier Business? – Courier business is a flexible and in-demand business. The demand for courier services is growing constantly. It is one of the easiest businesses to get into but it can also be a frustrating process.
If you are planning to set up your own courier company, the following are the 12 basic steps to help you jumpstart your business.
Planning: One of the very first steps in setting up a business is planning. Finding your niche is a crucial part of it. Designing an all-inclusive business plan can help you in the early stages of operation and to secure investments for the business.
Feasibility: The next important step is to prepare a thorough feasible plan. It includes the sources of finance, services to be offered, equipment costs, pricing, target market and the cost of marketing.
Legal Structure: Before applying for the business license, it is important to decide on the legal structure of the business. One can operate as a sole proprietorship, a LLC (Limited Liability Company), a corporation or a partnership.
Business License: After deciding on the legal status of the business, the next step is to apply for a business license with the town or the state and to get a Federal Tax Identification Number.
Vehicles: Vehicle is the most important tool in a courier business. The type of vehicle required depends on the size of the business. If you decide to deliver large items you will require a van but to deliver small packages a smaller vehicle is more cost-effective.
Equipments: Other than a company vehicle there are some other types of equipment required too like mobile phones, GPS unit, and office supplies.
Storage: A physical location is mandatory to run the business and to store items and packages that are ready to be delivered. Make sure you have enough space for storage.
Insurance: Good insurance is required to cover all the expenses in case of any accidents on the road or on the premises, to cover any damages or in case of goods become lost.
Services: Determining the type of services you want to offer is important. Different services can include special services like one-hour deliveries or overnight deliveries.
Pricing: Before deciding on the rates, it is important to do proper market research. Check out the prices competitors charge for different services and packages. Prices may vary depending on the material, size of the package, etc.
Hiring Employees: In order to run the business efficiently, you will need to employ different people to handle the office, picking up packages and making deliveries.
Advertising: Once the business is all set up the next step is to advertise it. You can advertise your business by spreading a word through newspapers, business directories, distributing fliers or by creating a business website.
I hope the aforementioned steps help you set-up your business successfully.
And there you have it!
I hope the tips provided above are helpful to you.
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