Starting Your Own Business:

Planning for Success

Home Business Start-Up Checklist

Home-Based Business:  Is it For Me?

1. Why do you want to operate your own business?                                                                                                                                                                                                                                                                                                                                             

2. What type of business are you considering?                                                                                                                        

3. Which family members would you like to be actively involved?                                                                             

4. How much money do you expect to earn?                                                                                                                    

5. What is the key ingredient to the success of the business?

Home-Based Business Start-Up Checklist

Personal Considerations:

• Determine if you have the qualities to be successful at and enjoy a home business in your home.

• Involve members of the family in the decision process of starting a business in your home.

• Evaluate your home arrangement to determine the suitability of operating a business in your home.                                                                                                                                                                         

General Business Considerations:

• Decide whether you wish to operate as a sole proprietorship, partnership, or corporation.

• Determine whether you need a state license or permit to operate your business in Maine.

• Check with the local code enforcement officer regarding local zoning ordinances.

• File d/b/a (doing business as) with town office.

• Obtain Sales Tax Identification Number from the State of Maine if selling a taxable product or service.

• Contact the Maine Bureau of Corporations to check whether your company name is already in use and protected.

• Obtain a copy of the Small Business Tax Guide from the Internal Revenue Service if you plan to operate as a sole proprietorship.

• Obtain a copy of "A Guide to Doing Business in Maine" from the Maine Department of Economic and Community Development by calling 1-800-872-3838.    

Business Management Considerations:

• Prepare a written business plan explaining how you are going to be successful.

• Investigate what insurance the business will require.

• Develop a sound record keeping system.

• Develop a professional image. 

• Establish clear policies and procedures.

• Learn as much as you can about your market and fill an unmet need!

• Advertise effectively to your target market.

• Focus your business on a particular service, product, or clientele.

• Develop a price list which covers your costs and includes a profit!

• Seek out business counseling services to assist you in developing your business plan.

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Last Modified: 01/11/08
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