5 Tips for Launching Your Business in Phoenix
Thinking of starting a business in the Phoenix area? In 2015, Phoenix was ranked as the #6 fastest growing city in the US presenting entrepreneurs with great opportunities. However, there are many things that you need to consider before you open your doors. Starting a business anywhere can be a daunting venture. Here are 5 tips for launching your business in Phoenix.
- What’s in a Name: You have a great idea for a business, now you need a name. Make it something easy to spell and pronounce that fits your product. The more your name communicates about your business or product to your customers, the better. Make sure no one else is using the name you have in mind. Google it to make sure it is not already in use and the domain name is available. You could run into legal issues if you use the same or similar name as another business. Check with an attorney on any legal issues if your name is similar to one already in use. Check with the Arizona Corporation Commission to be sure the name is available. Visit azcc.gov/divisions/corporations “Check Name Availability” to ensure your name is not taken. Also browse the U.S. Patent & Trademark Office website uspto.gov or pay to have a trademark attorney complete a comprehensive search. It may be money well spent if your enterprise takes off and becomes a nationwide success.
- Make it legal: Register your business with the city of Phoenix and make sure you have all the proper licensing in place. The Arizona Commerce Authority Small Business Services is a great resource for licensing and tax information. Whether you are moving your existing business to Phoenix or starting a new business, this site has vital information for business owners. azcommerce.com One of the biggest mistakes you can make in starting a business, particularly in the Phoenix area, is not protecting yourself legally. Gregory Poulos, owner of Poulos Law firm explains the anomalies of business relationships in Phoenix. “In this part of the country, lawyers often refer to the ‘Arizona contract’ as a handshake…But if it is not in writing, your agreement can be misinterpreted.” Poulos attributes the sprawling nature of the city as the contributing factor to the climate of trust. He points out that there seems to be less awareness of negative experiences in such a spread out city. Consider forming a limited liability company to protect your personal property and finances.
- Use local resources: The Phoenix area has many great organizations to help businesses with local resources and networking opportunities. Contact the City of Phoenix to get information on licensing, zoning and permits as well as funding information. For networking events, small business accelerators and business mentoring, contact Arizona Small Business Association. The Arizona Commerce Authority has incentive programs for startups. And for a business toolkit and information on Phoenix’s demographics, visit Greater Phoenix Economic Council. Also consider joining the local Chamber of Commerce for marketing opportunities, networking events and other membership benefits.
- Locate a Space: Hire a reputable Commercial Real Estate agent to help you navigate the ins and outs of renting, leasing or purchasing a space for your business. They can help you decide if it makes more sense for you to lease or buy. Remember location, location, location really is everything. Consider your demographic and market in finding the best space for your business.
- Office warranty & insurance: Now that you have found your property, you need to protect it. The first thing you will want is business insurance. Property insurance for small businesses is an important component to an overall risk management plan. Insurance provides the financial assistance to continue operating your business in the event of a loss, but insurance is limited and it won’t cover all of your business property or every instance of loss. A basic policy will cover your building/structure, the permanently installed fixtures, machinery or equipment and the building contents. But many forms of loss and systems are not covered under a basic policy and may require additional premiums or complementary services.
Regular maintenance of your property is your responsibility. Similar to a homeowner’s insurance policy, if you suffer a system breakdown due to neglect or oversight on your part, your business property insurance won’t cover the repair, recovery or replacement of those systems.
However, in the Phoenix area, business owners have an additional level of protection. An office warranty from OfficeGuardian is a comprehensive service to maintain your systems and prevent the unnecessary wear and tear that can lead to breakdowns. Even when breakdowns occur, the office warranty plan provides coverage for those repairs as well.
OfficeGuardian offers a fixed-cost, worry-free response team to business owners in the event that a major office system or appliance breaks due to normal wear and tear. When you know that your business has OfficeGuardian, you can have peace of mind that your property is being cared for properly. OfficeGuardian is the business owner’s advocate to ensure that their office systems are running as efficiently and effectively as possible.
OfficeGuardian will protect you as a business owner or a landlord/property manager from repair nightmares, eliminate surprises that disrupt business, and stabilize your bottom line. We ensure that when a repair is made, it’s done right the first time, guaranteed. One Call Does It All.
For more information, visit www.officewarranty.com.