5 Amazing Steps for Launching a Local Business in Your Community
Running a local business is undeniably rewarding. By launching a local business in your community, you’ll be supporting the local economy and creating jobs for your neighbors. Your business will also contribute to the local culture! Launching a local brand is good for business too. Research shows that 82% of shoppers would rather support a local business than a large corporation, and they’re willing to pay more to shop from these small businesses. To help you plan the launch of your local business, Reevl shares some tips below!
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Earn a Business Degree
If you’re not yet ready to move forward with your local business launch, consider using this time to enhance your business skills. Going back to school and earning a business degree could be a great move for your future business. When you earn a degree in business, you’ll learn valuable management skills that will help you make effective business decisions. Try this online business degree program so you can earn your degree without quitting your full-time job.
Form an LLC
Forming an LLC is an important step in launching a local business. According to Slidebean.com, most small businesses can benefit from forming an LLC over other business formation types. LLCs offer personal asset protection and tax advantages, unlike sole proprietorships. Compared with corporations, LLCs are less expensive to set up and maintain, and they’re also easier to manage. Many entrepreneurs hire lawyers to help with LLC formation. But if you’re on a budget and looking to keep costs down, consider using an online formation service instead!
Build a Recognizable Brand
Building a strong brand identity for your business will help you connect with like-minded consumers and compete with local businesses offering similar products or services. To get started with your brand strategy, research your target audience as well as your competitors. Once you understand what your customers want and how they make purchase decisions, craft a personality for your brand that reflects that of your customers. Your brand voice, messaging style, colors, fonts, and images should all align with your brand strategy to create a cohesive experience for your audience.
Prioritize Local SEO
Local search engine optimization (SEO) will help people find your business when they’re searching for your products or services online. According to Startup Bonsai, websites that rank at the top of Google search results have an average click-through rate of 31.7%. If you can get your website in this top-ranking position, you’ll see your number of website visitors skyrocket. One of the easiest ways to improve your website’s search ranking is to optimize your website through on-page SEO.
Get Involved in the Community
Engaging with your community is a great way to increase the visibility of your local business, especially when you’re new to the local business scene. You could gather a group of employees and volunteer at a local nonprofit, help fundraise for a local cause, host community events, sponsor local school activities, or partner with other local businesses. As a bonus, partnering up with other businesses can double the payoff of your marketing efforts and help you tap new customer groups. When people know that your business actively supports and participates in the local community, they’ll be more eager to shop from your business!
Is launching a local business in your community your dream? Get started on the startup process by forming an LLC, earning a business degree, workshopping your brand, establishing a strong online presence, and coming up with community involvement strategies. All the work will be worth it when you open your doors to your first customers!
Good branding will take your local business from good to great. When launching a local business consider branding and identity design services, contact Reevl! Take the brand assessment survey on our website so we can learn about your branding needs.