The Law Office of Clifford J. Geismar, P.A.
Crealde Executive Center
2431 Aloma Avenue, Suite 114
Winter Park, Florida, 32792
Web Site: www.floridalegalanswers.com
___ What is the mission of your business?
___ Have you decided what service you will
___ Is your idea practical, and will it
fill a need?
___ What is the general economic trend in
your service area?
Your Competition and Market
___ Who is your competition?
___ What is your advantage over existing
___ Can you deliver a better or different
quality of service?
___ Who and how large is your market (customers)?
___ Where are they located?
___ Do you know what kind of people want
to buy your service?
___ Can the customer base afford your service?
___ Do you know how to decide what price
you will charge?
___ What is your monthly sales volume?
___ How can your business complete against
others in the business environment?
___ Have you tried to find out whether services
like the one you want to offer are doing well in your community
and in the rest of the country?
___ Have You Developed a Business Plan?
Starting a Business
___ Do you know how much money you will
need to get your business started?
___ Have you figured out what net income
per year you expect to get from the business?
___ Do you need renovations or additional
fixtures for the business? How much will they cost?
___ Have you calculated the cost of initial
___ Have you calculated the cost of utility
___ How much will taxes, permits, and licenses
___ Have you figured the cost of employee
___ Where can you find out what local state
and federal licenses you will need to operate your business?
Legal Form of the Business
___ What are the advantages and disadvantages
of a sole proprietorship, a partnership, a corporation?
___ Do you know what business laws, regulations,
and policies you have to follow?
___ Do you know what federal regulations
apply to your business?
Marketing and Advertising
___ Have you decided how you will advertise?
(Newspaper, television, radio, mail, the Internet?)
___ Do you know where to get help with your
___ Have you watched what other stores do
to get people to buy?
Taxes, Record Keeping and the Business
___ Have you decided your specific computer
___ What record-keeping requirements will
your business require?
___ Have you planned a system of records
that will keep track of your income and expenses, what you
owe other people, and what other people owe you?
___ Which bookkeeping system is best for
___ Do you know how to figure what you should
charge for each item you sell?
___ Do you know what other businesses like
___ How will you locate suppliers for your
___ Have you compared prices and credit
terms of several different suppliers?
___ How do you manage inventory?