Thinking about starting a business in Rockaway Beach, New York? This step-by-step guide walks you through the major decisions you should consider before opening a new business in Rockaway Beach.
Do You Have What It Takes?
Being an entrepreneur is difficult, much harder than working as an employee. Are you certain you have the stamina and skills to succeed on your own?
Before you move forward with starting a business, be sure to do these three things:
- Speak with other entrepreneurs in Rockaway Beach. Get their candid feedback on what it takes to start a successful business.
- You should read The Entrepreneurial Personality. It's a good read for those who are thinking about becoming an entrepreneur.
- Reach out to a trusted acquaintance. A support network of family and friends can be a great sounding board for good advice before you decide for sure to go into business.
What Business to Start
Choosing a business that is right for you is very important. To help you decide on a business type, we encourage you to read Good Business Ideas.
To view an extensive list of business types, complete with startup instructions, spend some time in the 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.
Always keep in mind that your new startup will be located in Rockaway Beach. Some businesses will do better in Rockaway Beach than others. A critical consideration is whether Rockaway Beach demographics mesh well with your startup concept.
Should You Franchise?
Examine a list of Rockaway Beach businesses and it's apparent that franchising has become a very popular way to start a business. Should you be giving franchising serious consideration?
Our recommendation is that you consider franchising as an option. This site has dozens of articles on franchising, such as Franchise Due Diligence. Get a thorough education on franchising by browsing all of our Articles on Franchising.
To learn about specific franchise opportunities, check out our Franchise Directory.
Sample franchise opportunities include Subway Franchises and Starbucks Franchises. Alternatively, you can browse franchise categories, such as Accounting Franchises and Moving Franchises.
Note on Rockaway Beach Franchise Opportunities: You will need to contact franchisors directly to see if their franchises are available in Rockaway Beach.
Have You Considered Buying an Existing Rockaway Beach Business?
If you have some capital to play with, you may want to Buy a Business in New York. Follow that link and you may find several good businesses for sale in Rockaway Beach.
Before buying a business, be sure to read this article: How to Buy a Business.
Naming the Company
A good company name can give a big boost to a new startup. It might seem like an easy thing to do, but there are many things to consider when naming a business.
Even if the name doesn't do it by itself, many naming experts believe there should be a story behind the name that ties into your company mission.
Numerous company naming issues are discussed in more detail in this article: Naming a Business.
As a final piece of advice, remember that because you are planning on starting a business in Rockaway Beach, it's critical that you ensure that no New York company has already registered the company name you have selected.
Forming a Company in Rockaway Beach, New York
It's very important that your business is formed as a legal entity that is separate from its owners. Doing so will separate you from personal liability for business debts and obligations.
When forming a company, you will pick from many company types, such as a corporation, LLC, sole proprietorship, partnership or other structure.
Incorporation is a very common way to legally create a business entity. Of course, you have to decide which type of corporation to form and where to incorporate. If you are starting a business in New York, you don't necessarily have to incorporate in New York. In fact, you can incorporate in the state of your choosing. For example, it's very popular to incorporate in Delaware, and incorporating in Nevada has become very trendy as well. Don't forget, though, that you will have to register as a foreign entity in all states that you do business in.
There are many nuances to forming a company. To learn the fundamentals of company formation, browse articles on our site, such as Incorporation Advice. You may also want to seek the advice of an attorney. On a final note, since you will be starting a business in Rockaway Beach, New York, our web page covering Incorporating in New York may be a useful resource if you decide to incorporate in New York.
Make Sure You Have a Business Plan
Creating a business plan is vital in laying a solid foundation for your business success. Simply put, a business plan is a written description of the future you envision for your business. Not having a business plan
To learn more about business plans, read Free Business Plan Templates. You should also take advantage of face-to-face free consulting available from your local SCORE chapter in New York.
Getting Money to Start a Business
Obtaining startup financing for your Rockaway Beach business will be harder than you might expect. Bootstrapping, which means growing the business without outside funding, is the best alternative, but that's not a viable option for many startup plans.
To learn about raising money, we recommend you read the fundraising articles on our site, such as Business Credit Evaluation.
For Rockaway Beach entrepreneurs who want to raise money for a new venture, you'll want to take a look at our List of New York Angel Investors and our List of New York Venture Capital Firms.
Marketing Your New Venture
Whether your goal is to attract Rockaway Beach customers or you plan on selling elsewhere, you'll need to have a good marketing plan.
We have some helpful resources on this site for entrepreneurs who are working on marketing plans. Holiday-Powered Marketing is an article that will generate a few thoughts on your marketing plan. That's just a taste of the many useful articles we have on Marketing a Small Business.
Ramping Up Sales
Do you know how to sell? In order to attract customers to your new Rockaway Beach business, you need to focus on sales.
So what does it take to bring in more prospects and close more business? Fortunately, we've got plenty of good advice to help you improve your selling skills.
Hiring Good Sales People 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
The best entrepreneurs recognize that they don't know everything.
With your business being located in Rockaway Beach, New York, you should get information on some of the many programs available at nearby New York universities, colleges and community colleges. Another way to keep up on your entrepreneurial education is to investigate Rockaway Beach networking organizations.
Now It's Up To You
As an entrepreneur in Rockaway Beach, you won't be working for the boss anymore. You are the boss.
Owning your own business will be a daunting task, but you can do it.
We are here to help Rockaway Beach businesses to be successful. We believe entrepreneurship is an amazing engine for job creation in Rockaway Beach, neighborhood development and overall economic health.
More Entrepreneurial Resources for Starting a Business in Rockaway Beach, New York
Here are more links that we believe will help you be successful in starting a business in Rockaway Beach.