Organization Options

• One of the first choices you must make when opening your own business is how you'll organize the company. You can choose to run the company by yourself or with others. The three main business structures you have to choose from are a sole proprietorship, partnership or corporation. If you want to run the company yourself, choose the sole proprietorship. For more than one person, choose a partnership or corporation. If you are concerned about personal liability issues, organize the business as a corporation. To register your chosen business structure, you must contact the appropriate office in your state, most likely the office of your state's Secretary of State.
  
  

Online Start-Up

• A common option for opening your own business is to start it up online. An online business doesn't have to worry about the same expensive overhead costs (such as rent and utilities) as an off-line business. An online start-up also has a better chance of reaching a wider customer base compared to a local physical store that only reaches local customers. If you have limited funds and knowledge of the Internet, starting up online might be the right choice for your business idea.
  
  

Business Purchase

• Some prospective business owners choose to simply buy another business in order to get started. When an existing business owner has decided to retire, or simply doesn't have the time to grow the company, he may decide to sell it to another person. If you buy an existing business, you don't have to worry about the cost of starting one up from the beginning, and it may already have a customer base. It is important to do thorough research on a business, and even hire a consultant to advise you before buying, to ensure that it is a viable company with a good chance of success.
  
  

Franchise Business

• Another option for opening a business is to contract with a parent company to establish a franchise. Like buying a business, you benefit from the established name of the parent company, but you do have to pay start-up costs. Also, you must follow the same business model as the parent company. The franchise organization provides you with just about everything you need to make your own business a success, and commonly places regional or national advertisements to promote the business.