New Business Formation
Thinking of opening your own business?
Opening your own business is exciting and thrilling. It’s everything that comes after the excitement and thrill has worn off that dictates whether a small business will make it or not.
Welcome to Lodestar, where we specialize in turning entrepreneurial dreams into thriving businesses through our New Business Formation services. Launching a new venture is a significant milestone, and we're here to ensure that your journey is not only exciting but also strategically planned for long-term success.
Our Approach to New Business Formation
Crafting Your
Blueprint for Success
At Lodestar, we understand that a successful business starts with a solid plan. Our experts work closely with you to craft an initial business plan that encompasses your marketing, management, and financial strategies.
Financial
Foundations
Determining your start-up capital needs is a crucial step in building a resilient business. Lodestar collaborates with you to identify potential funding sources, evaluate your borrowing power, and establish backup options.
Tailored
Business Structure
Choosing the right business structure is pivotal for long-term success. Our team evaluates tax advantages, legal exposure, and operational ease to guide you in selecting a structure that aligns seamlessly with your business goals and future plans.
Technology
for Efficiency
Efficient operations begin with the right tools. Lodestar assists you in selecting the optimal accounting software based on your budget, needs, and hardware specifications.
Navigating Your
Financial Roadmap
A well-prepared Cash Flow Budget is your compass in the early years of your business. Lodestar helps you develop a comprehensive budget, providing insights into your monthly financial requirements and helping you make informed decisions for the sustainability of your business.
Administrative
Essentials
We understand the importance of a well-organized administrative setup. From establishing billing and collection procedures to setting up a tax-efficient home office, Lodestar ensures that your administrative processes are designed for maximum efficiency and profitability.
Compliance
Peace of Mind
Navigating licenses, obtaining a Federal Employer Identification Number (FEIN), and compliance with employment laws can be complex. Lodestar takes care of these essential tasks, providing you with peace of mind and allowing you to focus on growing your business.
IT’S UP TO YOU TO MAINTAIN AND STRETCH OUT THE “THRILL AND EXCITEMENT” PERIOD FOREVER.
A methodical plan of action is needed to fulfill your dream or goal of being your own boss and running a successful business. Success lies in the approach you choose to take. We help you avoid the common pitfalls that many new small business owners make when starting their new venture.