Ecwid for Small Business
How to Start a Small Business in Oklahoma (OK)
We all know Oklahoma is where the wind comes sweeping down the plane. But what may be a slightly less known fact is that Oklahoma has the
Best Business Ideas for Oklahoma
There are plenty of great business ideas that could flourish in Oklahoma. However, if you’re unsure of where to start, here are some fantastic jumping off points:
- Clothing boutique
- Bait and tackle shop
Drive-inmovie theater Drive-inmovie theater
- Anime caricatures
Whichever you choose, you’re going to need to draft a solid business plan.
Drafting a business plan can be daunting, we know. That’s why we have a
1. Playing the name game
Choose a name for your business that is straightforward and doesn’t leave your customers wondering what you do. While there are some rules and regulations for naming your business, don’t let that discourage you. For example, Final Fan to See is an excellent name for your anime caricature business.
2. Conducting market research
You need to get to know your market. Do search engine optimization research. Hold focus groups. Conduct surveys. What you find out might surprise you! Final Fan Too See found out it may not have the market it originally thought it would in Oklahoma alone.
3. Structuring your business
LLC, corporation, nonprofit, partnership, sole proprietorship: which is best? It depends on what your goal is. Registering as an LLC has favorable tax treatment, while a nonprofit is funded by donations, as opposed to investors. Final Fan to See would likely work best as a corporation, LLC, partnership, or sole proprietorship.
Registering in Oklahoma
Get all the info you need about your business: your business’ name, employer identification number (EIN), and the name of your registered agent. Next, file those formation documents. Depending on the structure you choose, you may need different documents.
Congrats, Final Fan to See, LLC is now an officially recognized business in the state of Oklahoma!
Best Location for Your Business in Oklahoma
Before you set up shop, it’s best to identify what your
Final Fan to See, LLC determined they would do best solely online.
Banking and Accounting
We highly recommend setting up a separate account for your business. It’s important to have one because it not only protects your personal assets if you get sued but also helps to monitor your business expenditures more easily. We suggest opening a credit line under your business, as establishing good credit will make your business look more attractive to potential lenders. We also recommend hiring a business accountant, as their expertise could help your business save thousands!
Ensure Your Business Is Insured
Business insurance is crucial to growing your small business in Oklahoma. It’s a way to ensure your business avoids any unknown risks, like an employee stubbing their toe on the property or a bison deciding it desires to be drawn in the style of Dragon Ball. In Oklahoma, any company with one or more employees is required to have worker’s comp insurance. However, this does not include the owner.
Permits and Licensing
It’s important to get the proper permits and licenses to operate your business legally. The best way to determine what you need is by searching on a federal, state, and local level. The best way to determine which local permits are needed is to call your local clerk and ask them directly. We strongly recommend hiring a professional to help you during this step.
The hiring process can be a very exciting moment in a business’ life. It’s how many entrepreneurs realize their dreams are now a reality. However, before you start curating that perfect team, you need to make sure you’re operating legally.
This includes making sure you’re registered with the IRS for employee taxes, reporting new hires to the state of Oklahoma, and registering with the State of Oklahoma for withholding tax and unemployment tax. We recommend creating a payroll service, as it will ensure your employees get paid on time. As an added benefit, it will help you save time.
Branding is fun for some, miserable for others. First, let’s start with the logo. Make sure your logo is representative of the brand, what you offer, and make sure it’s visually pleasing to your customer. Final Fan to See thinks aquatic colors with a fluid font work best to express what they do. You may decide muted, calming colors work best for your brand. There is plenty of software online that can help you if you’re stumped, too.
Branding also requires you to think about what your values are as a company. Do you believe there aren’t enough people willing to draw your loved ones next to their favorite anime characters? Do you think there is absolutely no need for that, and if you like anime that much just take a class and learn how to draw yourself? This might seem like an odd example, but it’s necessary to make it clear to yourself as much as to your customer the values your company holds itself to and what it can offer to your customers.
Do some personal reflection and truly embrace what your company believes in. Making sure these points strike home will ensure that your customers are in it for the long run.
In the day and age of social media, having an online presence for your brand is very important. While this can look like having a website and online store (if applicable), this also means needing Facebook, Instagram, YouTube, and TikTok accounts. One of the best things you can do for your business is to follow trends on social media. It makes you look hip, in touch, and it will help your business flourish. Get creative!
Having an online presence is great, but what about marketing on those platforms? All legitimate businesses have a website. And if we’re being honest, the less legitimate ones do, too. Unfortunately, social media profiles are not a replacement for a website. Having a professional website makes your brand seem trustworthy and reliable, and it offers
If this seems to be way too much, don’t worry! Companies like Ecwid help your store grow and succeed. They can help you create a beautiful,
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Need Legal Advice?
We Have It Here
- 25 Places to Find
Low-CostLegal Advice For Your Business
- Registering Your
E-CommerceBusiness: Sole Proprietorship, LLC or Corporation?
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