by admin on March 14, 2011
When considering starting a small business in Florida, there are many things to consider first, such as the type of business and the type of products or services to be sold. How many retailers in and around the area where the business is intended to locate? How are these businesses doing in today’s economic climate? How long have these other establishments been in the area? What percentage of the public would be interested in this type of product or service and is it seasonal and what percentage of that market lives in the status demographically speaking? Another important factor is the median income in the area to sight the percentage that can afford the product or service.
Step 1: Resolve the total cash on hand, the ability to acquire more cash through the employ of equity in property, assets that can be used as collateral to secure a loan, stocks, bonds, mutual funds, IRAs, term life insurance policies and so on.
Step 2: Score a location that affords the best visibility, access, parking, the correct image, the right amount of walk in traffic and the right cost and terms. If you are near the beach or one of the major resorts, prefer into consideration the amount of tourists and what the tourists will be willing to expend their money on.
Step 3: Purchase several double entry journals, one for cash on hand and personal taxes, one for business expenses, one for payroll, and another for sales and sales tax collected due to the IRS. In the alternative, you can purchase accounting software if you are comfortable using accounting programs. Most major cities in Florida also have many accountants that you can hire, should you not feel comfortable doing your own accounting.
Step 4: Determine the classification for the business. Weigh the pro and cons as associated to the business when choosing a limited liability corporation, an S corp., a sole proprietorship or a profit corporation. Decide who the officers will be. Apply for the entity with Florida’s division of corporations. Most applications can be made online at sunbiz.org.
Step 5: Contact the IRS and apply for a federal employer identification number. This can also be applied for online through their website at irs.gov.
Step 6: Get a county and city occupational license, a employee tax permit, and sales tax permit, and register the business as the entity decided on and file a DBA fictitious name. Start looking for a suited insurance company for business insurance. This is a must have and can be pretty expensive. It may take a bit of shopping prices as they differ considerably. The problem with many of them they are not only high but want 50 percent or better down and only give six months to pay the difference.
Step 7: Get all the exposure possible prior to opening. If it is a retail business, install a mammoth sign in front of the establishment. Have it professionally painted with the business name in large letters and a message to make notice of a grand opening extravaganza. Employ something that creates as much interest or excitement as possible. Use of the news media or television is a good vehicle for propagating this type of information to the masses in the spot and creating interest. Offer enticing reasons for the public to anxiously anticipate the opening of the business and to visit the business once opened.
by admin on February 27, 2011
Many individuals and families across the country have been negatively affected by our economic troubles. Consumers are trying their best to keep their head above water while other discouraged people have lost their jobs and homes. As smart consumers, we do have the ability to control some of our bills and get more for our money. There are many opportunities to cut back and save on many services we us.
Some of the most common expenses we use consist of cable & internet, cell phone, groceries, and car insurance. There are several approaches you can select to control the amount of spending on these goods and services. A lot of savings can simply come down to separating needs versus wants.
One method that I recommend to cut down on your cable & internet bill is to call your company and ask to converse with the retention department. If you mention that you are thinking about cancelling your service or downgrading then you may get a retention offer. I recently was paying around $55 for cable and $45 for internet. I called my cable provider and said I wanted to save money on my bill and that I felt like I was paying too much for service. The first thing they mentioned was that I could slice the download speed of my internet which would save me about $15 dollars per month. I quickly said that I wanted to do this since I only use my internet for basic use and I don’t do a lot of downloading. Next, they offered me the same cable package I currently had for $29.99 for 6 months. Because I was extremely friendly throughout the process, the lady I spoke with told me to call back in 6 months and ask for this rate again. As you can see, by simply calling and understanding my options I was able to reduce my bill from $100 to $60 per month.
You can lop your cell phone bill by better view what services you have. A call to your cell phone provider’s customer service can allow you to go over your bill in detail and glean rid of things you don’t need. For example, some consumers have an excessive amount of minutes and text messages that go unused. Another popular move for many people has been cancelling your landline and increasing your cellular minutes. This allows you to take advantage of the higher price plans that give a better value. Bundling is also popular and allows you to combine several services for a lower rate. In addition, people today are spending a lot of money on useless services they don’t need such as internet on their phone. Many people want these expensive phones that require a data package (internet) that can increase your bill by $30 – $40 per month. Remember the needs versus wants belief and understand that you need minutes, but you want internet.
Grocery bills have been out of control recently and it seems products are continually becoming more expensive. I have heard a lot of consumers complain that grocery stores have been charging the same price for a smaller fragment. This way the company looks like they are controlling the prices and giving customers a deal. One way to save on groceries is to watch for the amount you are paying per ounce or pound. The next way is to clip coupons from each stores newspaper add or on the internet. There are several websites dedicated to providing consumers with free coupons such as www.smartsource.com or www.couponmom.com. Each of these websites provides great savings on popular products.
Lastly, car insurance is a necessity but there are opportunities to get a better rate. It only takes a few minutes to get a free quote from multiple companies. One website is www.insurance.com and provides you with insurance quotes from over five different insurance companies. Some consumers just continue to pay the same rate because they don’t feel like checking out other options. Also, remember that you can get discounts for good grades or bundling other types of insurance with your auto coverage. For example, I have my home insurance and auto insurance through the same company. Because of this, my insurance company gave me a $10 discount per month for having home insurance with them.
As you can see, there are many ways to save and still maintain your lifestyle in this economy. By taking the time to understand what you are paying for, you can take advantage of being an informed consumer. Always remember your needs versus your wants and you will save a lot more money than you imagined.
