Ten Need To Know Items Before Opening A Business- Applicable To Many- Targeted To Laundromat / Coin...
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Transcript of Ten Need To Know Items Before Opening A Business- Applicable To Many- Targeted To Laundromat / Coin...
These items are targeted to Laundromats but
Ken Barrett
800-792-1941 LaundromatHowTo.com
These items are targeted to Laundromats but apply to most Brick And Mortar Businesses
What Is Your Why?� This is the most important part.
� Ask Yourself “Why Do I Want To Do This?”
� Before you start any business you need to have a dream and a vision.
� Once you know your Why, then you can start.
Certified Public Accountant
�CPA
�You are going to run a business, not a hobby.hobby.
�Make sure you get the right advice up front and your business is set up right.
�Tax ID – EIN
Attorney
On-line
Local
OWNER
LocalINC
Business #3
LLC
Business #2
LLC
Business #1
LLC
Business License
�City
�County�County
�State
Commercial Bank Account� Setup a Business Bank Account
� Debit Card
Confirm bank has no fees to accept large amounts of � Confirm bank has no fees to accept large amounts of cash and quarters.
� Choose a business friendly bank
Insurance� Variables:
� Hours of Operation
� Inventory
� Income� Income
� Equipment Replacement Costs
� Previous Claims
� Credit Score
Taxes� City
� County
� State
Federal� Federal
� Sales Tax
� Business Privilege Tax
� Equipment Tax
� Employee Withholding Tax
Demographics
�Location
�LocationLocation
�Location
Planning, Zoning and Building� Electrical
� Structural
� Gas Piping
Signs� Signs
� Restrooms
� Accessibility
� Zoning Restrictions
Mentor
�Where do you go for advice
and support?and support?
Laundromat How To
� Information on Laundromat Renovations, Operation and
Management.
� LaundromatHowTo.com
� 800-792-1941 Ext 2