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Recording your various expenses and sources of income is critical to understanding the financial performance of your business. Keeping accurate and detailed accounts also greatly simplifies your annual tax filing. Failure to acquire necessary permits and licenses can result in hefty fines, or even cause your business to be shut down. Certain state permits and licenses may be needed to operate laundry and dry cleaning business.
Most businesses are required to collect sales tax on the goods or services they provide. To learn more about how sales tax will affect your business, read our article, Sales Tax for Small Businesses.
In addition, certain local licensing or regulatory requirements may apply. For more information about local licenses and permits:. A laundry and dry cleaning business is generally run out of a storefront location. Businesses operating out of a physical location typically require a Certificate of Occupancy CO. A CO confirms that all building codes, zoning laws and government regulations have been met.
Just as with licenses and permits, your business needs insurance in order to operate safely and lawfully. There are several types of insurance policies created for different types of businesses with different risks. Your brand is what your company stands for, as well as how your business is perceived by the public.
A strong brand will help your business stand out from competitors. The best way to promote this business is to use hand delivered flyers that offer a discount coupon and put them under the doors of homes and apartments in the nearby neighborhood. Being very friendly to the customers when they walk in encourages them to come back. Calling them when their clothes are ready adds an extra touch of good customer service.
Still unsure about what kind of business you want to start? After defining your brand and creating your logo the next step is to create a website for your business. While this may have been a reasonable fear back in , web technology has seen huge advancements in the past few years that makes the lives of small business owners much simpler. Recommended : Get started today using our recommended website builder or check out our review of the Best Website Builders.
Getting a phone set up for your business is one of the best ways to help keep your personal life and business life separate and private. There are many services available to entrepreneurs who want to set up a business phone system.
Recommended : Find the best phone system for your business; check out our review of the Best Business Phone Systems Select your state below for an in-depth guide on completing each of these steps in your home state.
To do well in this business you will have to enjoy cleaning clothes and making them nice for others. You will need to work with many different chemicals, some of which are known to be quite toxic.
You will have to be comfortable with handling dirty laundry. Some might be very smelly and even disgusting before it is cleaned. Wearing gloves and protective equipment will be an important thing to do to protect your health. Entrepreneurship Quiz.
This business is all about being on schedule. Opening the store on time, keeping public and employee areas clean, and making sure that orders are fulfilled in a timely manner are all activities you can expect on a daily basis.
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