The Vital First 8 Steps to Starting a Pet Sitting Business
Do you love animals? Are you dreaming of a business you can run the way you choose? Pet Sitting may be the answer you're looking for. As with any business, the first step to being successful is laying the proper groundwork. It takes much more than having a good idea or having a passion
competitors, project start up expenses, illustrate how to allocate resources and give you a realistic timeline. If utilized during your initial business set up it will keep you on track and make you successful in achieving your goals.What goes in a business plan?
The plan should be divided into 4 sections:
1) Description of the business
2) Marketing Plan
3) Finances
4) Management
The plan should include an executive summary, supporting documents, and financial projections.
Resources to use to research writing a business plan:
https://www.smallbizlending.com/resources/workshop/sba.htm - This site contains a free online workshop to help develop and improve your business plan.
http://sbinformation.about.com/od/bizplansamples/Business_Plan_Samples.htm - This site contains links to many sample business plans to learn how to write a successful business plan.
2. Decide on a legal structure for your business
a. Decide how much personal liability protection you need
b. Decide how you want your business to be taxed
c. Research the various types of ownership structures
1. Sole proprietorship
2. LLC
3. C Corp
4. S Corp
The choice you make will have a large impact on how legal issues are handled. Sole proprietorship is the simplest legal structure but it does not protect your personal assets. Forming an LLC is more complex and expensive. However, it is designed to provide the limited liability features of a corporation and the tax efficiencies of a partnership. This is a popular choice for sole proprietors who are looking to incorporate simply to protect personal assets.
Use the following resources to investigate the advantages and disadvantages of each and decide which ownership structure is right for you:
http://www.Legalzoom.com
http://www.Corporate.com
3. Choose a name for your business (and a domain name)
Choosing the right name for your business is very important. Choosing the right name can impact the overall success of your new venture. Remember to do your research, take your time and pick wisely.
A worthy name should:
1. Leave no doubt about the industry you support
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3.22 Copyright (C) 2007 Alain Georgette / Copyright (C) 2006 Frantisek Hliva. All rights reserved."
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