Maybe your business has been generating a solid amount of income, and you’ve been storing that cash in a traditional business savings account. You want to make more passive income on your savings, but you don’t want to risk your funds evaporating in a volatile marketplace. A high-yield savings account is the middle ground for business owners in this scenario.
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While banks and credit unions are similar, certain features or perks may make one stand out to you more than the other. With this information, you can make an informed decision about which type of financial institution is the best fit for you.
Typically, candles do tend to be impulse purchases. But if you know where to find your ideal customers, rotate stock to keep your business interesting, and strategize product launches around seasons when scents are popular, you may find customers coming back again and again to enjoy the results of your ingenuity.
Owning a laundromat is simpler than many other types of businesses; your greatest responsibilities will be keeping track of your financials, managing customers, and maintaining your equipment. But don’t let the ease of running a laundromat tempt you into becoming an absentee manager, in which case, your business will suffer as a result.
Good business ideas for kids have work that’s easily accessible and usually involves minimal startup costs. Think of ideas like lemonade stands, tutoring, hobby coaching, babysitting, and dog walking.
To start a small ice cream business, you need to draft a business plan, invest in the right kitchen equipment, find a great location, rent or buy a building or truck, test your recipes, and acquire the necessary business licenses.
The biggest disadvantages of a DBA are that a DBA doesn’t establish a new legal entity and you don’t have ownership over your DBA. You couldn’t sue another company for violating a trademark if it registers a business name similar or identical to yours.
A business license is a permit to operate your business, and it is non-negotiable. In fact, it is illegal to operate a business without a permit or license. This keeps you accountable to the city in which you operate and helps local government agencies regulate the businesses in their jurisdiction. Learn more about getting and maintaining a license to run a business in your state.
Owning a delivery business is a great opportunity for many entrepreneurs. Depending on the niche you plan to serve, you can start your own business with just one vehicle and no employees. What’s more, you can quickly scale your delivery business as demand increases.
House flipping might not be as easy as it looks on TV, but it can be a satisfying and lucrative business opportunity. Find out what steps you have to take to start your own house flipping business in this guide.