Starting a New Business

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I knew that when I started this venture into creating a Yoga Studio at my home that it would be time consuming and I would be running around like a chicken without my head on.  I say that with tongue and cheek…although it is true!  So many things to do, but really not much information that gives you a step by step guide in what you need to do.  I looked all over the internet.  I found things that helped, but not an all inclusive list.

I hope this may be able to help some people who are flailing around with creating the dream they have!  Mine is a Yoga Studio at my home.  My opening will be sometime in the middle of April, 2017.

THINK OF YOUR BUSINESS NAME -SOCIAL MEDIA-DOMAIN!

This is very important!  You need to think about this and think hard about it.  This is what people will see and what you want to go with you everywhere, and when I say everywhere I mean everywhere!  Do you want a .COM?  Does that matter to you?  Can you deal with .NET or .SOMETHINGELSE?  I use GoDaddy.  I went to that site first to find my .COM.  I wanted a .COM only.  No .NET or anything else.

Don’t immediately buy your domain yet.  What?!?!?  Just follow me….Social Media-Very Important in this day and age.  Start doing your searching.  Search all the ones you want to be a part of…

INSTAGRAM

FACEBOOK

PINTEREST

TWITTER

GOOGLE+

TUMBLR

SNAPCHAT

And whatever else you want to use!

See what you can get here and set it up immediately if you can.  Get a hold on the name you want at all of the social media sites you can.

Search the LLC’s in your state.  Here is Louisiana’s…

Search Louisiana LLC

Special note on LLC’s.  Please snag your LLC now if it is available.  I made the mistake of checking and then saying I will go back and if you can believe it three months later someone took my name.  I had to change everything!  Don’t wait.  Get it as fast as you can.

You may also want to search USA Trademarks.  If you want to do this it is up to you.  Hey-if you have something fabulous then snag it up!

Search Trademarks

Get your EIN – your Federal Tax ID number.  This is free and very easy to do on the IRS site.

Business License-this is done locally and will not take long.  You may use your SSN or your EIN number depending on how you set your business up.  You may be asked to estimate annual gross receipts….if you are…remember it is just an estimate….don’t stress!

When you are on the phone with the local department in reference to your Business License ask them about permits.  They can direct you in the right direction!  (more on permits at the end of this)

Even if you are only performing a service right now.  I suggest that you also get your resale certificate (tax).  I offer a service, but in time I want to probably sell some t-shirts, etc….it may be 6 months to a year, but I have it  and I don’t have to worry about it later.

Set up your bank account (now that you have your EIN and your Business License).  You will need to bring this paperwork with you to set it up!

Set up your accounting system.  I use GoDaddy and I am very happy with it!

Note on permits and inspections!  Make sure you have the your state officials come out and view your site prior…even if you received your permit already.  You want to make sure that they come out and view prior to any work being done so you don’t get screwed up later on.  Let them tell you what needs to be done.  You will then have them come out again for the final inspection.

Also, in reference to permits it may be different state to state, but here in Louisiana I need the State Fire Marshall to come out as well as the Parish (County) Officials to come out and inspect before I can do anything.  Make sure you know how it works in your state.

I hope this helps someone trying to come to grips with all that needs to be done!  Eileen

Please know that this is my experience only.  Yours may be different.  Please use this only as a guide to point you in the right direction!