There’s nothing more freeing than waking up one day and realizing that you are your own boss. Being your own boss is exciting, but there’s a lot you have to do in order to set yourself and your business up for success. Before you can ever become the owner of a booming business, there are many things you’ll need to do first.
Here are five steps you’ll want to follow in order to start a business, including the process for applying for a seller’s permit in San Diego.
1. Research Business in the Area
One of the first things you'll want to do before opening a business is to conduct thorough market research. You may be selling the best product or offering amazing service, but, if what you're offering isn't in demand, your business won't last for very long.
With market research, you can determine what San Diegans want and need. By providing a product or service that meets a specific in-demand need, you can go into the business world with supply and demand on your side.
2. Create a Business Plan
A business plan is your company’s roadmap to success. A business plan is beneficial not only in that it serves as a guide but also a must-have if you need to secure business funding. Investors want to see where your business is at currently and where it plans to go.
Your business plan should include:
With a business plan in hand, you know exactly where your business is headed and how you plan to get there.
3. Create a Business Name
Give your business name some serious thought. This is a name that needs to be catchy and descriptive, and it is something that will follow your brand forever. The business name you choose should be marketable, unique, and memorable. It should also provide insight into what your company sells.
Before settling on a name, make sure that it's legally compliant. This means checking for any infringement or trademark issues that you may run up against. It's also important to ensure you meet all local, state, and federal rules.
Depending on the business name you choose, you may also need to come up with a fictitious business name. San Diego County requires that business names clearly indicate the purpose of the business while also including the owner's last name. So, if you choose Smith's Landscaping, you're in the clear, but if your business name is Exterior Improvements, you'll need to register a fictitious name.
4. Determine a Legal Structure
There are several business structures to choose from. Some of the most common include sole proprietorships, corporations, partnerships, and limited liability company (LLC). The business structure you choose impacts how many taxes you must pay, your personal liability, required paperwork, and your ability to generate income.
If this is your first time owning a business, you'll want to consult with an attorney, accountant, and business counselor to determine which business type is ideal for you. The good news is that the business type you choose can be changed in the future, especially as your business grows.
5. File for a CA Seller’s Permit
Once you have a name and legal structure in place, you’ll need to apply for a seller’s permit in San Diego. A seller’s permit is what legally allows your business to start making sales. You need a seller’s permit for all business that you conduct. This includes brick and mortar and online sales.
Wondering how to get a seller’s permit in California? The process is easier than many think. There’s no wrong or right way to file for a permit, but some are definitely much faster. You can choose to register in person or by mail to the Board of Equalization’s office.
If you’re looking for an even more convenient and flexible option, consider FastFilings.
Apply for Your Seller’s Permit Online
As a new California company owner, you’re excited and anxious to start making money and offering your product to the local community—but, before you can open your business’s doors, you’ll need to apply for a seller’s permit in San Diego.
Not filing for a seller’s permit all but promises legal and tax issues in the future. What if you don’t have time to go to the BOE in person? What if you don’t want to mail such important information?
This is where FastFilings can help. FastFilings does all of the heavy lifting for you. With just some basic information about yourself and your business and a few clicks, you can quickly and easily apply for a seller’s permit. From there it’s all downhill!
Check out our website today to get started on filing for your business permit.