Resources - Chapter 10 Supplement
Business Startup Checklist
As a new small business owner, you may be wondering where to start. Here's a checklist for the major business start-up tasks.
- Conduct marketplace research.
- Evaluate your business potential
- Scope out the competition.
- Identify three specific client target markets.
- Choose a business name (might simply be your name).
- Join a networking group before graduation.
- Design and print marketing materials.
- Send out press releases and announcements about your business opening.
- Send letters to your school clinic clients inviting them to continue working with you.after graduation.
- Schedule an open house.
- Determine the city where you want to practice.
- Develop a business plan.
- Establish your support system of advisors and mentors.
- Reserve a business telephone number.
- Find a location.
- Design or update the office layout.
- Obtain any required licenses and permits.
- Purchase appropriate insurance coverage.
- Apply for your Federal Employer Identification Number (if you plan to have employees).
- Purchase equipment, furniture, supplies and office sign.
Finances and Legal
- Project your startup costs.
- Create a budget.
- Finalize startup financing.
- Select a legal status (most massage therapists start out as sole proprietors).
- Open a business checking account
- Decide which products you want to carry and establish accounts with vendors.
- Determine your fee schedule.
- Set up a merchant account to take credit card payments.
- Set up your bookkeeping system.
- Review tax requirements with your accountant.