Start Up Checklist

 

Business Plan

Decide on the Legal Structure of Your Business

Employee Issues

Regulations and Licensing

Marketing

Advice and Counseling

Financial Statements

Protect Yourself

Small Business Tax

 

 

Franchises or Existing Businesses  

Franchises – Franchising has become a very attractive means of starting and operating a small business. A franchise is an agreement that binds a franchisor (a parent company of the product, service, or method) with a franchisee (a small business that pays fees and royalties for exclusive rights to local distribution of the product or service). Through the franchise agreement, the franchisee gains the benefit of the parent company’s expertise, experience, management systems, marketing, and financial help. Franchisors benefit by expanding their operations by building a base of franchisees rather than using their own capital and resources.

Existing Business – You possess the necessary personal qualities, managerial ability, and capital to run a business, but you haven’t decided on the approach, you may want to buy out an existing establishment which is already functioning – maybe even a proven success.

 

 

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