A business that does well is often due to the location, think about how visible you will be to passing trade, if there are any competitive stores nearby, can customers park easily, and also how long your lease lasts. You don't want to have to move premises just as business is starting to pick up and risk losing the majority of your customers.

Defining your marketing strategies at the beginning is the key to a successful business, and will give you an idea as to budget. Every business needs a marketing plan to ensure the advertising you do brings maximum exposure to the business. Do your research into the most effective strategy for your type of business, popular forms of advertising include brochures, radio, newspaper and public relations, trade shows, sales people, and of course having your own website.

Getting professional advice just makes sense; most businesses have some type of legal agreements which could include a lease, a finance agreement, a disclaimer, a confidentiality agreement, or a supply agreement. Insurance is another factor not to be forgotten, look into what you would need to cover for all eventualities including life assurance and general insurance.
It is so important to get yourself a good accountant. You will be liable for income tax amongst other taxes and this can be a particularly difficult area to understand. Look online for quality accounting firms in Sydney, to help you with setting up your business, tax planning and returns.


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