Washington, Oregon, and California make up the West Coast of the United States. These states border the Pacific Ocean. Washington is home to over 60 mountain ranges, including the Cascade Mountains, which start in Northern California and stretch through Oregon and Washington before ending in Canada.
With easy access to both mountains and the ocean, the stunning West Coast scenery attracts millions of tourists each year and recreational enthusiasts who enjoy skiing, mountain climbing, and water sports.
Whether you love the mountains, enjoy outdoor sporting activities, and want to live by the Pacific, you may decide to start a business on the West Coast. Refer to these tips to ensure you’re ready to launch your West Coast company.
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Choose a location.
Evaluate the three states on the West Coast and decide where you want to live and work. If you thrive on sunshine and sandy beaches, you may opt to head for California, but not the Bay Area of San Francisco, which can be cooler than Southern California. Alternatively, if you thrive on winter sports and cooler temperatures, you could set up shop near the Olympic Mountains in Washington State.
Choosing a location is closely tied to choosing a business field. If you have a strong preference for a cool climate, your location choice could impact the type of business you launch. Alternatively, if you’re interested in a specific type of business, it may influence your location. For example, if you’re launching a tech company, you may opt to head to Silicon Valley.
Choose a business field.
There are dozens of business fields to consider, and your field choice will impact your company’s nature and needs. A company that needs a lot of on-site staff needs access to qualified professionals who can fill staff vacancies, which is one reason why tech company start-ups opt to locate in or near Silicon Valley. Whether you plan to open a recreational company, enter the tourism market, launch a tech company, or start a retail business, you must consider your long-term needs and learn about the existing businesses in that field.
You may opt to launch your business in a different area where you won’t face competition from established companies. You can also use your research to identify ways to set your business apart from the competition. You may identify a need that’s not being met by the current marketplace or opt to focus on specific clients, emphasizing goods or services tailored to the needs of seniors or young people.
Prepare your leadership.
Successful companies need strong leadership. You can prepare yourself for your leadership role by earning a business administration degree or gaining first-hand experience working in management for other companies before launching your business. You can also hire experienced executives and managers and create a management team to launch and lead your company. Your leadership team can include a human resources professional who’ll oversee hiring staff.
Address your finances.
Businesses need capital, and West Coast businesses can turn to Pacific Private Money (PPM) to secure financing. PPM is a private money lender. When you work with a private lender, you don’t have to worry about your credit score or financial history influencing your loan approval. Private lenders use collateral to secure your loan. Since they don’t have to follow typical banking procedures, private money lenders expedite the borrowing process so you can access funds quickly.
You may also qualify for small business loans through the U.S. Small Business Administration (SBA). Small businesses may qualify for microloans, 504 loans, or 7(a) loans, which offer up to $5 million in loans. As mentioned above, it’s important to bear in mind that SBA loans will take a lot longer to process than the private capital that can be obtained through a private lender like PPM.
Buy equipment and supplies.
Create a checklist of the supplies and equipment you need to launch your company. Supplies could include things like toilet paper, hand soap, hand sanitizer, and pens. Equipment can also vary from industry to industry. A recreational company’s equipment could include skis and snowshoes, while a restaurant may need kitchen appliances and food prep tables.
Rent a storage unit where you can secure your equipment and supplies. Google “Oakland storage units” to locate storage facilities in the Oakland or San Francisco area, for example. You can also use a storage unit locator tool to produce a list of storage facilities in your area. Storage units come in various sizes. You can also rent specialized storage space for things such as car storage and RV storage.
Set up your location and open your doors.
Find a suitable location for your business. Once you renovate and design your business location, you’ll be ready to open your doors and serve customers. As part of your location set-up, you should also establish your online presence with a website and social media accounts to promote your company.
The West Coast appeals to people who want to live close to the ocean and mountains. Research your location options and the types of businesses you could start to ensure you’re ready to launch a successful company.
