How Common Are LLC’s In Texas?
Why choose Texas to start your new LLC? Which types of businesses thrive in the state? Here we will provide a summary of why Texas is popular with LLCs and which industries have intriguing openings.
Texas is a very popular locale to establish a new business as it has the 3rd lowest business costs in the country, is the 1st in Economic Climate, and the 6th in Lowest Income Taxes.
It is important to determine the type of business that you would like to start. It would help to consider a business idea which piques your interest, your personal goals, and the things which you are naturally inclined towards.
Popular business ideas:
These are a selection of business industries which have intriguing openings should you wish to form an LLC in the state of Texas. These are based off of the interests of the general populace and have the potential for a brilliant business.
1. Theatre Company
Despite the continued influence of motion pictures and television in the American film industry, live theatrical productions remain extremely popular. Statistics show that Broadway attracted 13.27 million people in 2016-2017. Theatre companies are responsible for the production and presentation of plays and theatrical productions to live audiences. There are companies which present shows at a specified theatre, potentially owned by the company itself. However, there are companies which present live performances in different theatres, touring cities and performing across the country.
2. Fence Company
This type of company can be contracted by clients to do many things, and a financial agreement is generally reached by examining the measurements of the space to be fenced, what materials will be used, how difficult the process will be, and the length of time and labor that will be necessary.
3. Roller skating park
Since the 80’s, roller skating parks have been immensely popular. They evoke the feeling of childhood and innocent excitement. Even in today’s age, skating rinks have been re-popularised and become the favourites of both children and adults alike. It is a safe, yet fun, place for everyone to enjoy together.
4. Gas station
Gas stations are an essential part of everyday life. They sell gasoline to travellers, often alongside products such as foods, drinks and general items of convenience. IBISWorld posits that the gas station industry brings in $89 billion annually through the sale of items similar to the ones above.
5. Mobile bartending service
The speciality of the mobile bartender is that they are able to travel to numerous locations where they are able to set up their business wherever the event co-ordinator or client requires them. There are different services that may be provided by the mobile bartending company – some call for the client to supply the alcohol and wine whereas others supply the whole shebang, consisting of alcohol, signature drinks, glassware, and personnel to work.
6. Mystery shopper business
This is an intriguing field which involves mystery shoppers (otherwise known as secret shoppers or anonymous evaluators) going to various businesses to make sure that the staff is abiding by the rules and regulations of the business. This can be useful as it gives an insight into the standard of service in a business. Consequently, the business can save a lot of unnecessary trouble and money. Examples of these include if a shopper goes to a shop and doesn’t receive sufficient service. As a result of the knowledge, management can rectify the issue in due haste. Another significant issue that can be addressed is if someone who is underage goes to a bar, orders a drink, and isn’t carded. That is a problem that could result in massive fines for the business in the long run.
Steps to start your LLC:
Should you decide that one of these (or your own) ideas are a good fit for an LLC that you want to form, here is a breakdown of the necessary steps:
1. Decide on a name for your Texas LLC, following guidelines that can be obtained in the link that will be provided at the end.
2. Hire a Registered Agent for your LLC. This can be an individual or a corporation who has the legal authority to send and receive official and legal documents in the state.
3. File a Texas Certificate of Formation with the secretary of state. This can be done online, in-person, or by mail and this serves as the official start of your business.
4. It would then be useful to create a Texas LLC Operating Agreement which is a legal document that specifies the structure of the ownership and the way in which the company will operate.
5. Apply for an EIN (Employer Identification Number) which is essential for if you want to hire employees, open a business bank account, and for federal and state taxes.
TRUiC not only outlines some brilliant ideas for LLCs, but also makes it easier to form one. Visit this site to learn more.