Entrepreneurs and New Businesses
Serving Arlington And Surrounding Communities
An entrepreneurs and new businesses lawyer in Arlington, TX at Brandy Austin Law Firm, PLLC knows that reaching the decision to start your own business can be a significant undertaking. Not only will you be taking on a huge financial responsibility, the process for getting a business up and running can be full of hard work and dedication. Despite this, owning a successful business is often well worth the stressors involved with the startup process. It’s important to note that, unfortunately, a number of small businesses may fail. According to The Small Business Administration, nearly 80% of all small businesses close up shop in their first year. This alone can be a terrifying thought. However, our team can help you to take the proper steps to start your own business and ensure its success:
Step 1: Research
Before moving forward with setting up shop, it’s important to conduct market research. You will want to have a clear idea of whether or not there is a market for the business you are interested in starting. It’s important that you know the size of your market, the saturation and whether there is a demand for the business you are developing.
Step 2: Business Plan
A business plan is key to outlining how you will run your business. Our team can help you to develop a business plan that includes:
- A summary of your business
- A description of the details surrounding your company such as:
- Details of Your Storefront
- The Organization of Your Business
- Your Business Structure
- The Services You Are Offering
- Requirements for Funding
- Financial Outlook Over Time
- Additional Documents to Support Your Plan
The idea of writing a business plan can seem like a daunting and cumbersome process. However, it doesn’t have to be. A TX entrepreneurs and new businesses lawyer in Arlington can help guide you through this process with ease by making sure that nothing is left out.
Step 3: Financials
One key component is making sure that you have clearly calculated how much it will cost to start your business. It’s vital that you do this before starting your business. No small business owner wants to find themselves too far into the process, digging themselves into mountainous debt they will never be able to dig themselves out of.
Additionally, you will also need to determine how you will fund your business. For most, it’s not likely that you will be able to fund your business all on your own. You may need to turn to investors, crowdfunding or take out a small business loan in order to make your dream a reality.
Step 4: Identify a Business Structure
Determining the type of business structure that you will form is key to your day to day operations, tax implications and liabilities. Common forms of business structures include:
- Sole Proprietorship
- Limited Liability Company
- Non Profit
Working with a member of our legal team can prove helpful in assisting you in identifying a business structure and the formation of your business based on your specific needs. We have dedicated, small business attorneys and legal professionals that are well-versed in the small business arena. We understand the needs of smaller companies in the area and provide individualized counsel designed to help your company adapt to growth and change, both good and bad. It is our goal to help your company build a solid foundation and the unknown pitfalls that come with operating a business. A Texas entrepreneurs and new businesses lawyer can provide a variety of services to help refine business plans, structure financing, implement technology strategies, implement earth-friendly plans that help you achieve growth and success.
Our New Business Services Include The Following:
- Business Entity Formation, Bylaws/Operating Agreement, Stock Certificates;
- Corporation Minutes/Declarations;
- Negotiations – in-person, by phone, Skype, or letter;
- Plan & Agreement for Future Ownership Changes;
- DBA Filing and EIN;
- Partnership or Joint Venture Agreements;
- Commercial Leases, Financing, or Closing Document Review;
- Draft Service Agreements;
- Review Contracts and Letters;
- Client/Customer Contract or Template for Your Specific Business;
- Independent Contractor Contract or Template for Your Specific Business;
- Partnership/Membership/Shareholder Agreements;
- Website Review;
- Review Status of Independent Contractor(s);
- Employee Related Services; and
- Monthly Email Checkin and Advice as Needed.
We will also assist you and your business in conjunction with your CPA, or, if you prefer, a CPA we work with, to develop a plan to lower your business tax base. The more growth you experience, the more taxes liability and money you will owe. We can guide you in the right direction and to the right people to help minimize your liabilities.
Why Call Our Firm Before Your Business Is Up And Running?
Because it’s the perfect time to protect you, your family, and your investments! We can make sure your business is set up correctly, quickly, and efficiently so you can get started or continue to grow. We can help advise you on legal issues to keep moving forward with your business and help you feel less overwhelmed from all of the legal to-do’s, choices, and concerns.
We Are a Great Option For Your Business
Brandy Austin has been an entrepreneur since she was 7-years-old. She has had several businesses and has a wide variety of knowledge. Owning and operating a business is where she excels. She is excited about new growth and ideas and would be happy to talk about your business, openly and honestly.
Our attorney, Justin Whiddon, has a business background, as well. He attended the Sam M. Walton School of Business and majored in marketing and minored in finance. He is very familiar with the oil and gas industry and now focuses his practice primarily on small business and commercial litigation.
We encourage you to 800-958-4948 to arrange a free in-office consultation, or contact us online to discuss your business or business idea with one of our Arlington, TX entrepreneurs and new businesses lawyers.
Do I Need an Attorney to Review My Business Contracts?
If you are either thinking about starting a new business or have recently founded a startup, you may be wondering how much legal oversight your business really needs. After all, legal services are notoriously expensive and it is important to keep your budget tight until you start turning a profit reliably.
However, the thing about legal counsel is that the more proactive you are as a business owner, the more money you are likely to save in the long-run. Yes, investing in legal oversight through the assistance of our legal team will cost you some time and money upfront. But the cost of foregoing necessary legal guidance can cost you much, much more than this upfront investment ever will.
For example, by having us review any business-related contracts before you sign them (or offer them to others to sign, like employees and vendors) you will protect your legal rights and the interests of your business. By avoiding significant legal vulnerability, you can potentially save your business untold amounts of money in lawsuit judgments, fines, penalties, lost revenue, compromised intellectual property, etc.
The Benefits of Contract Review Services
When properly drafted and executed, contracts are legally-binding documents. As a result, it is critically important for you to understand your rights and responsibilities under every contract related to your business. Working with a Texas lawyer for entrepreneurs and new businesses can help you to ensure that the terms of any contracts you enter into are fair and do not leave your business unnecessarily vulnerable. Every business enters into contracts regularly just to conduct their everyday operations.
Don’t give into the temptation to be penny-wise and pound-foolish by skimping on legal guidance when it comes to contract review. That decision could, and most likely will, come back to haunt you at some point, simply due to the volume of contracts your business will enter into over time and the number of things that can go wrong when a contract is not properly reviewed.
Legal Guidance Is Available
Even the best business ideas have the ability to result in business failures without a proper business plan in place. Do you have a business idea that you are incredibly passionate about? Give your business every opportunity at success with the guidance that our experienced team can offer to you. Once we know more about your business model and unique business needs, we’ll be able to advise you of your legal options and the legal services your business may especially benefit from. We can also let you know which legal services your business may not need at this time. Contract review is a must, but not all businesses need all legal services at all times.
Please don’t wait. Schedule a risk-free consultation today. If you are either starting a new business or have recently founded a startup, please consider scheduling a consultation with an entrepreneurs and new businesses lawyer in Arlington at Brandy Austin Law Firm, PLLC today.
“Y’all take excellent care of your clients. We have never worked with a firm as kind & helpful as you guys are to our practice members! Thank you Brandy Austin Law Firm for always going above & beyond to help people.”
Lauren Jessup Alvarado DC