There are a lot of reasons to consider quitting your 9-5 job and branch out on your own. After all, there is so much to enjoy about being your own boss including calling the shots, charting your own course, and enjoying the benefits of your own success.
There is a reason that small business owners are some of the most satisfied people around.
However, if you are looking to start a business in California, you will need to set your expectations properly. Knowing the timeline for starting a business can ensure you are not caught by surprise once you are already in the process. What do you need to know? Read on and we will walk you through the basics.
How To Start
There are a number of things you will need to get together on your own before starting the process of opening your California business. It goes without saying you will need to have a solid idea of what your business does and how it will operate.
You will also need a business name and to decide how you want to legally structure your enterprise as an LLC, a sole proprietorship, partnership or a corporation.
This is where the timeline for your business will start to form. Each of these legal structures will require different application processes with different expectations of how long it will take you to get from Point A to Point B.
It is best to discuss your plans with an attorney who may be able to layout a general timeline for each respective process and advise you on which option might be right for you.
Licenses and Permitting
The next elements that will determine how long it might take to get your business up and running are the licenses and permits that you will need to apply for.
Under California law, you need to register with the Board of Equalization if you are planning to sell goods of any sort. You will also need to obtain a general business license from the city in which you are going to do business.
Depending on the industry you are working in, there may be a large number of other regulatory licenses and permits that you will need to apply for and obtain before being allowed to do business.
These processes all have different timelines involved, making it hard to give a straight answer to the question of how long it might take to launch a business.
On average, it may take anywhere between four months and a year to get through the entire process and get your business up and running. It all depends on the specifics of your situation.
The more complex of a business you are attempting to start, the longer of a journey you will likely face and the more help you might need to get there.
If you are about to make the jump from your day job and start a business in California, there is a lot to get familiar with. What do you need to know about how long this process will take? The above information can help.
Looking for more specific guidelines when it comes to your business idea? Contact us for a consultation.