Thinking about starting a business in Homestead AFB, Florida? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Homestead AFB.
Are You Ready for Entrepreneurship?
Before quitting your day job, take inventory of your entrepreneurial instincts and capabilities.
While entrepreneurship has become a popular career choice, we recommend you do the following before you take the plunge:
- Talk to other entrepreneurs in Homestead AFB. Listen closely to their experiences and see if you think you too can be successful.
- We recommend reading Should You Become an Entrepreneur?. For aspiring new entrepreneurs, it's a must read article.
- Have a candid conversation with friends and family. Ask them directly: Do I have what it takes to be an entrepreneur? Listen carefully to their answer, as they presumably know your strengths and weaknesses.
Choosing the Right Company to Start
An important decision is what kind of business you want to start. You might get some good ideas about what kind of business to start by reading Business Ideas That Don't Make Sense.
For in-depth how-to guides on how to start specific businesses, browse our Good Businesses to Start section of our site. For example, you might be interested in our Starting a Dance Club guide or our Starting a Tatoo Parlor guide.
Don't forget that your new startup will be located in Homestead AFB. Some businesses will do better in Homestead AFB than others. Only by spending some time analyzing Homestead AFB demographics can you decide if there will be strong demand for your business idea.
What About Franchising Opportunities?
As you drive around Homestead AFB, you'll notice that many local entrepreneurs have gone the franchising route. But is franchising the right option for you?
Our recommendation is that you consider franchising as an option. We have many articles on franchises, such as Franchisees Versus Licensees. Become a franchising expert of sorts by reading more of our Articles on Franchising.
A comprehensive list of franchisors is available via our List of Franchise Opportunities.
Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Homestead AFB Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Homestead AFB.
Is Buying an Existing Homestead AFB Business a Good Strategy?
We've created a handy website page for those who want to Buy a Business in Florida. Follow that link and you may find several good businesses for sale in Homestead AFB.
Before buying a business, be sure to read this article: Hold Harmless Agreements When Buying Businesses.
Naming the Company
A big decision when starting a company is choosing a company name. Believe it or not, choosing a good company name can be a big contributor to your business success.
We strongly advocate that you make sure the ".com" domain name is available for your company name. Every business needs a strong Web presence these days, and having a non ".com" domain means somebody else may outrank you in the search results for your own company name.
For other considerations regarding naming a company, we recommend this article: Branding Advice.
As a final piece of advice, remember that because you are planning on starting a business in Homestead AFB, it's very important that you make sure no other Florida company is using the business name you want to use.
Forming a Company in Homestead AFB, Florida
It's very important that your business is formed as a legal entity that is separate from its owners. Without a legal structure for the business, you can be held personally liable for the actions, debts and obligations of your company.
The entity you form can be a traditional C-corporation, a Limited Liability Company (LLC), or an S-corporation.
Incorporating is a very popular way to form a business. A key decision is whether to form and S-Corp or a C-Corp, and you also must decide in which state you will incorporate. If you are starting a business in Florida, you don't necessarily have to incorporate in Florida. In fact, you can incorporate in any state you would like to. However, if you do incorporate in another state, you'll have to register as a foreign corporation in your home state.
There are many nuances to forming a company. We recommend you read some of the educational articles about company formation that are availabe on our site, such as Nevada Incorporation. You may also want to seek the advice of an lawyer. Finally, if you are starting a business in Homestead AFB, Florida, our information on Incorporating in Florida may be a useful resource if you decide to incorporate in Florida.
Don't Forget to Create a Business Plan
A business plan is vital to the health of your new business. Indeed, a business plan is a written description of the future you envision for your business. Not having a business plan is a recipe for disaster.
To learn more about business plans, read Business Plan Contests. You can also get face-to-face free consulting available from your local SCORE chapter in Florida.
Raising Capital for Your Venture
Getting your Homestead AFB business the capital it needs to succeed will be harder than you might expect. To obtain business financing, you will need to hear a lot of rejections before you finally find a funding solution that works for you.
On the bright side, this site contains dozens of articles on raising money, including one we recommend entitled 504 Loans.
For Homestead AFB entrepreneurs with great ambition but a shortage of investment capital, check out our List of Florida Angel Investors and our List of Florida Venture Capital Firms.
Promoting Your New Business
To rise above the crowd in Homestead AFB and accelerate your business, you need a solid marketing plan.
You can learn quite a bit about marketing on our site. How to Market to Accountants and CPAs is a good read to get your marketing thoughts flowing. That's just a sampling of the many useful articles we have on Marketing a Small Business.
Building Up Your Sales
Being able to sell is critical to your business success. Whether you are focused on selling local customers in Homestead AFB or are selling to customers throughout Florida, the United States or even the world, you have to be able to sell.
Good selling involves demonstrating that your wares meet your customer's needs. Let us help you refine your selling techniques through our many useful sales advice tips.
Why Salespeople Fail offers some helpful tips on how to sell. It's one of several good articles on our site regarding Entrepreneurial Selling.
Increase Your Entrepreneurial Knowledge
Good entrepreneurs recognize that they need to continually improve.
Given that you are starting a business in Homestead AFB, Florida, you will want to take advantage of the many programs available at nearby Florida universities, colleges and community colleges. It's also worthwhile to see if there are any networking groups or organizations in which Homestead AFB entrepreneurs get together to network and trade their business experiences.
Never Give Up
You have a dream -- starting a business in Homestead AFB. To achieve your dream, you have to persevere, even when the odds are against you.
From this point on, you control your own destiny.
This site is all about helping entrepreneurs in Homestead AFB and elsewhere to achieve real success. We believe entrepreneurship is an amazing engine for job creation in Homestead AFB, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Homestead AFB, Florida
Here are more links that we believe will help you be successful in starting a business in Homestead AFB.
- Resources for Homestead AFB, Florida Entrepreneurs - Browse a variety of resources we've collected to assist Homestead AFB entrepreneurs.
- Florida Entrepreneurial Resources - We've gathered state-level entrepreneurial resources to help new entrepreneurs who are based in Florida.
- Florida Small Business Development Center - The Florida Small Business Development Center Network (FSBDCN) is a statewide economic development partnership between higher education and other stakeholder organizations dedicated to providing entrepreneurs and established businesses with the assistance needed to start, grow and succeed, contributing to the Florida economy.