Business Plans for Massachusetts Start-Ups
Need a business plan prepared or reviewed by a lawyer with real experience in business start-ups in Massachusetts?
The Law Offices of Richard Alan Gaudet, LLC, have experience in drafting and reviewing business plans for start up businesses in Massachusetts. Every business plan drafted by our firm is unique, there are no templates or boilerplate used at our firm.
Why do we put so much effort into developing tailored business plans for our start up and entrepreneur clients? The answer is simple…it would be unfair and unethical to mass produce business plans for our clients. Each client is different. Every business is different. The business plans drafted by our firm for start-up and new businesses in Massachusetts are drafted after an extensive review of your specific circumstances and business goals.
Why Do I Need A Business Plan for My Massachusetts Business?
The Roadmap Behind Your Massachusetts Start-up Business
A start up or new business in Massachusetts requires a business plan to help you steer your business during the initial stages of development. Think of a business plan as a roadmap written to guide the decisions you must make to be successful in your new or start-up business. This roadmap must be developed with an understanding of the legal requirements for your business. For example, many businesses in Massachusetts must comply with a massive amount of regulation in order to avoid liability or sanctions by various administrative agencies in the Commonwealth. The business plan for your start-up must be drafted with an understanding of these underlying regulations to avoid liability, sanctions, or even business closure. In addition, a well written business plan will assist you in reaching the goals that you set within the plan and can be adjusted as you encounter new challenges in the early stages of your business.
Business Plans Get Funded in Massachusetts
The best way to acquire investors or new business partners for your Massachusetts start-up is to present a business plan that demonstrates your attention to detail, anticipation of obstacles and how to overcome them, a clear understanding of the market, and how your business will turn a profit. Venture capitalists and potential partners will turn you away without a business plan that shows the depth of your understanding of the business sector that you wish to occupy. Yet another reason to hire an attorney experienced in business start-up and new business formation for your Massachusetts business.
Developing a Business Plan for Your Massachusetts Start Up
Before meeting with our firm you should develop, and you probably already have, a sense of the following initial start-up matters:
- Type of Start-up Business
- Basic Research of Market Saturation in Your Business Sector in Massachusetts
- How Will Your Business Turn a Profit
- A List of Your Competitors and Their Place in the Business Sector
The Devil is in the Details
Now that you’ve answered some necessary basic questions about your start up or new business, it’s time dwell on the small details:
- What do you bring to the business you want to start? Are you experienced in this area of business? Do you have background, training, or other knowledge that can help you impress upon others that you are the right fit for investment capital. Or, even if you are starting your business on your own, you’ll still want to convince yourself of your ability to succeed in your new business endeavor.
- What business structure will you use in your new business? In Massachusetts, a start-up or a business wishing to change its structure can organize as an LLC, incorporate (Inc.), form a partnership, a limited liability partnership, a sole proprietorship, or other corporate structure. Choosing one of these organizational types and registering your new business with the Secretary of State are just the beginning for a start-up business in Massachusetts. You will also want to consider hiring an attorney to prepare an operating agreement, bylaws, and other organizational documentation necessary to start a new business in Massachusetts.
- Does your business require liability insurance, malpractice insurance, or some other type of insurance? Acquiring insurance coverage for a business can mean the difference between closing your doors due to a court judgment or successfully battling a lawsuit. Choosing insurance is an area that our firm can assist you with.
- Does your start-up business require licensure, credentialing, or permitting to operate? Many businesses in Massachusetts are highly regulated by administrative agencies which require compliance with regulations established in the Commonwealth. Your new or start-up business will need to have all required licensure, credentialing, or permitting to operate prior to start-up. Our firm will get your business on the correct path to licensure, credentialing, or permitting.
DISCLAIMER:
The information provided in the pages and posts of this website are for general informational purposes only. The information presented on this site is not legal advice, and no attorney-client relationship is formed by the use of this site.