Factors to Consider Prior To Starting a Landscape Supply Company
Irrespective of one’s financial status, starting a company or rather business is not a walk in the park. It gets even harder when it is a landscape supply company. Unlike other supply businesses, a landscape supply business is highly profitable. Suffice to say, it is a very lucrative business that requires one to have necessary resources and ample skills to effectively run it.
Therefore – prior to starting such a business – it is imperative for one to understand what needs to be done, when and how to go about the entire process that is involved in the daily running of a landscape business. Being a self descriptive venture, it provides customers with landscaping supplies for the beautification of their gardens and lawns. Listed are factors to consider prior to setting up a landscape supply company.
For starters, structure your business’ entity. Structuring ones business entity is inevitable and crucial at the same time. To be legally allowed to run a landscape business, one can either form a limited liability company; sole proprietorship or better, a corporation. However, the process of establishing a business entity requires the assistance of an attorney or a certified public accountant. Visiting ones secretary of state website to form a limited liability company can also suffice.
Next, obtain a tax identification number from the Internal Revenue Service’s (IRS). This is the second and the most fundamental step to starting a landscape company. In order to carefully plan and manage the running of a landscape business, in regards to hiring employees, expanding and effectively building credible business credit; obtaining a tax ID is necessary, if not very important.
For the records, one can easily obtain a tax identification number by calling an IRS representative over the phone. Or – if detailed processes are your thing – you can gladly print form SS-4 from the Internal Revenue Service’s website then physically put it in the mail. Nonetheless, the simplest and easiest way to apply for one is just by visiting the IRS website, period.
Lastly, acquire a license. While this is necessary, it is noteworthy to check first with the secretary of state or local chamber of commerce to determine if a business license is required for the operation of a landscape supply company in your area. Afterward, determine if you want to operate solely the company through an office or online with just a website. Finding suppliers that can sell landscape supplies to customers, establishing a merchant account and creating marketing materials can also be considered at this stage.