Identify Your Business Opportunity - Know exactly what kind of furniture store you will start, and what the furniture store entails.
Name Your Furniture Store - The right name can make your company the talk of the town; the wrong one can doom it to obscurity and failure. The name and the logo are of vital importance, here are some tips when considering a name.
* Reflect your target niche.
* Clarify what sort of furniture your business will sell.
* Keep the name simple.
* Try to utilize the same business name as your domain name for your web site.
* Make the name meaningful.
* Make sure the name is easy to understand and pronounce.
* Make it unique.
* Turn to designers for a professional-looking logo.
Don't rush the final decision. "Try on" each choice for a few days. See which names your friends and colleagues like.
Get Started Now - Call our Business Specialists at 954-892-6868 to assist you with a name registration today. Naroka LLC can also help you search federal, state, and common law records to determine potential conflicts with your perspective business name.
Choose a Business Structure - Find the best ownership structure for your small business. The most basic of all business legal structures is the sole proprietorship. Other possible structures include the popular limited liability company, a partnership, or an S corporation. You may even use Alternate/Fictitious Names but must register to do so.
Determine Your Business Location - Depending on the business, the best location for your furniture store is one where customers will want to shop, whether it is retail, wholesale or service oriented, a convenient, accessible location is extremely important. Whatever location you choose, you will be required to have a location and submit a Certificate of Occupancy or Home Occupation Permit when applying for your business license.
Register Your Furniture Store - If you are starting a new business you must register it with several different federal and local authorities, depending what state your business is located in. At the minimum, almost every state requires the following:
* Federal Identification Number
* Resale Tax Certificate – Sales & Use Tax
* Occupational Permits
* Business License
* Unemployment Insurance Number
Build a Business Plan - Having made the thoughtful decision to convert your dream into a real business is an important step. At this point, you have convinced yourself that there is business to be done and that you want to do it. A business plan will help you firm up the details of how that will work. And, it will help you convince others that your dream can and should become a reality.
The importance of developing the business plan cannot be over emphasized. The document is valuable. It will permit you to communicate your ideas with potential investors, creditors, vendors, employees, and others. But, the process is at least as important as the document itself. If you need help in constructing your business plan, please contact us for a quote.
Create an Accounting System - Finances are a part of any business, and maintaining accounting records and financial transactions in a systematic manner that will ensure that the business objectives are fully accounted for, are of extreme importance. Business record keeping and accounting records should be in compliance with the Generally Accepted Accounting Standards (GAAS) and also laws and statutes that govern the organization.
We always recommend you speak to an accountant or bookkeeper, especially when initially setting up your accounting system. This way, they can help you setup your accounting system properly the first time so you don't make mistakes that will need to be corrected later in the year when filing taxes or other government forms. There are many software programs available, some of the more common small business software programs are QuickBooks, Peachtree and MYOB.
Recruiting Employees - If you plan to have employees, you should take the time to think through and carefully define the job descriptions for each position. It would be well if you were to write these out. You can contact the local Chamber of Commerce to determine the probable pay scales for the jobs you have defined. You will probably want to place help-wanted ads in local newspapers; place those ads 30 to 45 days before you anticipate the actual employment. You will want time to perform background checks on some, if not all, employees.
Obtaining the Product – There are several furniture trade shows and exhibitons around the United States, like High Point Furniture Marrket, Las Vegas Furniture Market, San Francisco Furniture market and much more. It is a good idea to visit these shows to establish relationships with furniture manufacturers and to obtain your products.
Conclusion - Being in business for yourself is a wonderful, gratifying experience. Or, at least it can be. But, there are literally thousands of details that must be handled. To improve your probability of success and to minimize the headaches, get all the help you can. Please feel free to contact us for more information.