Before you see your business name displayed on one of the many Los Angeles billboards scattered throughout the vast city, you’ll need to learn a few things to be successful. California is the highest populated state and so many people live, relocate to, and visit Los Angeles for just about any reason, including enjoying the sun itself. It’s paramount to find an existing market to infiltrate or a niche to get your business to where you always imagined it, and with these seven things to know before starting a business in LA, we’ll have you set up for success.
Table of Contents
1. What Type of Business to Start
Knowing what to offer the 3.8 million Angelenos seeking a new experience or service can be the most critical aspect of starting your own business in Los Angeles. L.A. is a trendsetting city, which means if you have an idea it’s likely someone has turned it into a reality with the brick-and-mortar you were daydreaming of over lunch. But don’t be afraid to go where others have, or maybe you have that unique idea that the city needs, it’s all about researching your potential customer base. Find out what people need or want to see, use, or do; and then find a place for you to offer what it is that so many are missing. Another yoga studio may seem oversaturated in this health-forward market, but having somewhere else for your fellow yogis to frequent is hardly ever a bad thing.
It would be essential to lay out a business plan to keep you guided with your goals and what kind of business you will venture on to that will bring you successful returns. Using some business plan templates from reputable sources online is convenient and effective if you don’t have experience in making any.
2. Picking a Name is Important
A location is hard to find at times but so is a good name, one that is applicable and memorable. With such a large population, you’re going to need a name for your business that rolls off the tongue and can be registered as a unique entry in Los Angeles’ business database. Consider what your business name says about what you offer, and how it makes others view you, what will your brand look like displayed on one of the Los Angeles billboards on I-10?
3. Select a Business Structure
You have your business plan, and name, and might have an idea of a location, but you’ll need to figure out what kind of business structure you’ll fall under first. There are quite a few business structures, sole proprietorship, LLC, and corporation just to name a few but the best way to determine what you should do is to seek help from a business attorney. You’ll need to file paperwork with the California Secretary of State along with completing more paperwork before you can start selling delicious cups of imported coffee, so it may be best to let the professionals handle this aspect if you’re unsure of liability laws so you’re protected in a worst case scenario. Considering how challenging it is to register a corporation, working with GovDocfilling Corp formation agency is the best option for budding entrepreneurs.
4. Learn about the Different Neighborhoods
Los Angeles has many neighborhoods that can feel like a city within a city, but in general, it can be broken down into 18 areas or so. Santa Monica, Venice, Hollywood, and Koreatown are all popular places with very distinct vibes, cultures, and communities. You’ll want to learn more about the people who may be frequenting your business and may seek your services, learn about other languages spoken, and maybe even etiquette followed by other stores in the area. Being a part of the small-business community can help your brand reach more clients.
5. How to Advertise
In such a large area like Los Angeles, it is easy to be overwhelmed by the vast amount of places to display ads for your company but fret not as these opportunities work to your advantage. Once you’re settled in you’ll want to figure out the right game plan to get the right attention, Los Angeles billboards, street furniture, wallscapes, and wildposting can all be done in unique ways that can market your message appropriately. Advertising can be very focused and tailored to your marketing budget, service area, and brand styling; in a city like L.A., if you can think it, it can be done.
6. Connect Through Social Media
As the new kid on the block, you’ll need some social media attention to get your business noticed beyond the billboards and electric scooter branding. Social media can be tailored through proper geotagging and SEO usage to get those exact customers you need to respond to your online ads. Generate posts that ask questions and provide a call to action for potential clients still on the fence.
7. A Great Place to Live
Los Angeles is a unique place to live, play, and work; this is the ethos your business has to incorporate to really become successful as you integrate into the community you provide for. Angelenos are open to new experiences which is what makes opening a business in L.A. so much fun, so remember to deliver your best.
