Of course there is no one answer that fits all cases. But we give you here good advise to find your answer.
The path right for you will depend on your specific goals, the stage in which you find yourself now and your needs. Find here some question to ask your self before take the first steps.
- Will you buy an existing business?. Then you will need to take some precautions. The last thing that you want is to buy an empty shell, a money pit with no incomes! In our article Considerations before buying a business we explain some of the pitfall to be alert to before signing the contract.
- Will you need a license? Check if a license is needed and how easy, in terms of legality and costs, is to obtaining it. The long process of obtaining some type of licences can delay the opening day beyond the season in which you entended to make your profit! . You may need to start the process earlier than you think. You can learn about sanitation license, for food-handling business, and trading licencies in the article linked before.
- Will I need to employ somebody? Employing is not cheap and doing it without complying with all the legal requirement is not a good idea. There are a few thing you need to know first You will need to decide how much work can you, as the entrepreneur, perform in order to save some resources. Other options, rather than employing, are: outsource part of you work, employing your spouse, etc..
- What is the correct legal form? There is no an answer that fit all cases. Some variables to considers are: prospect of incomes, number of partners, initial investment needed,… Fin in this article , “SL or autonomo?”, we considered the money matters and all other factors too.