Have you ever dreamed of setting up your own small business? This is something which many of us consider in our lives but most of us never get around to getting it done. Setting up a small business in Queens is similar to setting up a business anywhere else in the states, as long as you know about the local laws and the target market.
In this article, we are going to give you some of our best tips to help you get your small business set up in Queens.
Create a Business Plan
First things first, you need to make sure that you have a business plan for your new venture. It can be easy to skip over this part, especially if you are more a doer than a planner but this is extremely important if you want your new small business to survive. Your business plan will detail everything that you need to know and everything that you are going to do.
One of the key things to establish is who your target market is. Do you want to reach out to locals in Queens? If so, you need a strategy for doing that. You could go to local events and do some questionnaires, or look at your local competitors to see what they’re doing.
If you are struggling with your business plan, then make sure to do some research online. You should be able to find plenty of examples and guidance on how you can write the perfect business plan. Make sure to get this sorted before you go any further.
Secure The Funding
If you are going to open a small business, then you need to make sure that you have the right funding for the job. Funding can come in many different forms but without it, you won’t be able to set up your business and continue to run it until you start making some profit.
Some of the most common types of funding include your own savings, a bank loan and investors. If you cannot secure any of these things, then why not consider some crowdfunding? Look online at crowdfunding sites that give your audience the chance to get involved. Talk about your product or service, your new base in Queens and get the support that you need. This should help you to secure some funding if people believe in your product.
Another thing that you need to consider when you are setting up your small business is the legal issues that come along with this. In New York, you need to have state licenses and permits for your business, but these can be found online. You will also need to register with the New York State Department of Taxation and Finance. Without doing this, you could be putting yourself at risk of paying some pretty heavy fines.
There are many more legal issues that you need to consider so make sure to do your research. This way, you can make sure that you are setting up your business and preparing it for the future.
Setting Up Shop
Once you have the funding and the legal issues out of the way, you can get started on setting up the shop. Whether you are an office-based business, a store or one that has a warehouse, you will need to find somewhere to have a base to get started. In Queens, property isn’t as cheap as you might think and so make sure to do your research and find the right base for your new business.
If you can’t afford to invest in a large warehouse then why not look for storage in Queens? Moishe’s Self Storage in Queens, NY can provide you with self storage units that can be used to get your business off the ground. Store your stock here and visit when you need to pass it on to your customers. Storage in Queens is becoming more popular so this might be a viable option for you.
Once you have somewhere to place your items, you can get started on really making this business work.
Our final tip for those who want to set up their own business in Queens is to market yourself well. Choose your target market from the start and stick to this when it comes to any kind of marketing that you are doing. In 2019, the best way to market your product or service is online and this is something which many other NY-based businesses are choosing to do.
While it might be tempting to have your brand up there in Times Square, you are not going to be able to afford this, so you need to stick to having a website and using social media marketing. Don’t worry though, you can still make a big impact this way.
If you are planning on setting up your own business in Queens this year or next, make sure to follow the advice that we have given you here in this article.