Are you thinking of starting your own Limited Liability Company (LLC) in the Big Apple? Have you done your research?
There are few questions you must find answers to first, for example, what are the requirements and process for starting an LLC? How much does an LLC cost in NY? How can you market your business in this entity despite the tight competition?
If you want to form an LLC, we will answer all those questions and even give you helpful tips on effectively marketing your business. If you do not know it yet, almost anyone can start a business. The real challenge is how to keep the ball rolling, and that is when we enter the picture. We will share the strategies on how to kick off an LLC in New York and keep it afloat, given that there are countless business giants in “the City that Never Sleeps.”
What are you waiting for? Find out the secrets of a successful business in New York City by reading below.
Forming an LLC in New York
An LLC is a business entity in the United States wherein the owners are not personally liable for the company’s debts or liabilities. While it is not a partnership or corporation, forming an LLC in New York allows you to enjoy a partnership’s flexibility while relishing the same protections of a corporation.
You are also not required to hold meetings or keep formal minutes. LLC runs more like a partnership — with management flexibility and pass-through taxation. Other benefits include the credibility of having an LLC after your company name, flexible profit distribution, and the ability to deduct health insurance premiums.
Tips in Marketing Your Business
1. Identify your target market
Before you can genuinely connect with your audience, you need to know who your ideal customers are. Focus on who will be most likely to purchase your product or avail of your service. Also, knowing your target audience tells you which marketing tools you should be using.
2. Set up an online presence
These days, social media platforms are your powerhouses for connecting with potential customers and spreading your message over the internet. Best of all, they are free! Social network platforms, including Facebook, YouTube, Instagram, and Twitter, can boost your brand awareness and enhance brand loyalty. You can even use them to get feedback from your clients and even educate them about a topic related to a product or service your business offers. The possibilities are endless! Social networking sites have indeed proven themselves as powerful tools when it comes to growing a business.
3. Hold a contest
Having a contest and giving fun items and giveaways are other great ways to promote your business, especially if the game asks the participants to share a photo of themselves interacting with your products or services. To encourage more joiners, make sure the prize is interesting enough to make it worth their time.
4. Do networking
As a startup, you need to let others in the community know that you are open to business. Taking the time to attend industry-specific conferences and local events is one of the best ways to do that. Find others in your circle online and interact with them. You may volunteer to host a free webinar on a hot topic or talk to a local event and invite others in your industry to attend.
These marketing tips will surely help you win new customers and boost repeat orders or visits from your existing customers. You don’t even need to ask yourself, “How much does an LLC cost in New York?”
Just go for it!
Perseverance, backed with the right marketing strategies, will surely make you one of those business giants in NYC.