Do you know who your target markets are?
Starting your own business can feel like experiencing twenty emotions in twenty minutes. Exciting, thrilling, scary and sometimes a challenge — but it does not have to be impossible. Here is a thorough, detailed and easy-to-use road map to help you put the pieces together. Welcome to Augusta County!
Meet your economic development staff here. We’re happy to help along any step of your journey.
Consider the feasibility of your business.
Do you have answers to the following questions?
Take the quiz.
Do you know who your target markets are?
Do you know who your customers or suppliers are?
Do you know projected costs and revenues for the business through year three?
Do you know who will manage daily operations?
Do you know your income requirements?
Do you know what capital will be needed to open and stay in business?
Do you know where the start-up capital will come from?
Do you know how much you’ll be investing in your start-up?
Go into detail on your product/service, marketing, financing, and income/expense projections.
Find HelpWho is your management team, and what does your financing look like?
Talk to an ExpertA completed business plan is the key to starting your business.
Double CheckWhat kind of space do you need?
Where should you be located?
Is the site zoned for the type of business you’re opening?
Let’s work through some location questions.
“We were able to take advantage of a small business loan which really helped us launch Black Bear Composting. The process was easy, and I would encourage others to consider this as a way to help start a small business.”
Eric Walter
Black Bear Composting
Crimora, Augusta County VA
Now for the fun part — let’s talk names. Your business name will be your first chance to let your customer know who you are, what you do and why you’re the only choice. Plus, it’s just fun.
The best legal entity varies for each owner and each business. Every option has its advantage.
It has probably been awhile since you wrote your business plan. Has anything changed? Take time to review and make updates to your most important living document.
You get to network with the following: Internal Revenue Service, Virginia Department of Taxation and Virginia Employment Commission. Don’t be daunted. All businesses must register with the state and federal government.
Visit the Augusta County Government Center — we won’t bite.
All of your hard work is coming together. Now is the time to review all the previous steps, and finalize all documents.
Congratulations! Now that you have achieved this milestone, what’s next? Get the word out and schedule a Ribbon Cutting. The Greater Augusta Regional Chamber of Commerce will be happy to help you.