How you start your business matters because it determines the results you’ll get. Without some hands-on business expertise, it’s easy to make costly mistakes that could hurt your chances of succeeding.
Fortunately, no matter which small business you start, you can protect your assets by registering an LLC. As suggested by the name, a Limited liability company gives you limited liability in case of legal or financial troubles. The great thing is that it is easy to start an LLC in Arizona.
Here are some small businesses you can start in Arizona, a state with a long and glorious history of entrepreneurship.
1. An accounting firm
Accountants help businesses track cash flow, payroll, and other financial matters. They also help businesses plan for the future by analyzing financials and recommending financial posterity measures that help drive business growth.
If offering other businesses and business owners accounting services sounds like an exciting business prospect, you can start such a business in Arizona and help enterprises handle various accounting aspects like:
• Inventory management
• Customer service (via email).
• And much more
After establishing your expertise in the industry, your business should have a healthy string of existing and new small businesses seeking your accounting services.
2. A business in the automotive industry
The automotive industry is a large and growing subset of the American economy, so much so that the industry generates 17% of Arizona’s tax revenue.
Generally, the automotive industry is second only to real estate—size-wise— excluding all the other things you can do with cars.
The great thing is that you can start several business types in the automotive industry. For example, you can:
• Sell cars – Whether you’re selling new or used vehicles, there are many ways to make money from the new and used car market. Besides these two businesses, you could also sell parts like tires and batteries and provide car insurance and vehicle maintenance services.
• Offer auto repair services – If you want to offer more specialized services than most auto shops, consider starting a modern auto repair shop instead. This will allow you to offer customized auto repair services based on customers’ needs (for example: if someone has an old car and needs to know how much it may cost to restore it).
3. Call centers and back offices for companies
Call centers and back offices are an essential part of the modern economy. They employ over one million people in Arizona and provide a wide range of services, including customer service, business development, sales support, and marketing.
As with any small business venture, it’s crucial to have a plan before you start your call center or back-office operation so you know where your company fits in the market and how much money you can expect the business to make each month based on clients’ needs.
4. Clothing manufacture and sales (for example) tailoring)
If you have tailoring or fashion experience, consider starting a clothing manufacturing or related business.
The steps to starting a clothing manufacturing business are really simple:
• Find an idea for your new product or service. You can design and create products from scratch or offer white-label products under your brand name.
• Create a plan for marketing and advertising your products/services to reach potential customers who will buy them at retail stores like Walmart or Target. Consider setting up booths at trade shows that receive a lot of foot traffic (such as Phoenix Fashion Week).
5. Computer Industry (Hardware Software Website Development)
You can start a business in the computer industry by developing and marketing hardware, software, and website development.
This is one of Arizona’s most popular small businesses because it involves less capital outlay than other business types.
Here are some tips to get you started in this industry:
• Choose a name for your company (e.g., Computer Stuff”)
• Decide what product you will sell (e.g., computers, computer parts, etc.)
• Find suppliers
As an entrepreneur, you can start different types of businesses, and each business idea has its benefits and challenges. The most important thing to remember is this: research a business idea and industry before venturing into it.