Do You Have What it Takes to be an Entrepreneur?
Are you an Entrepreneur?
Let's Ask Some Serious Questions
20 Questions
Don't Forget These Important Steps
Do You Know Your Target Market?
Get the Facts from Reliable Sources
Data and Statistics
Ensure You're Operating Within the Limits of the Law
Licenses and Permits
Understanding Your Business Type
Business Types
Business Classification is Key
Business Structures
Don't Overlook the Most Important Step
The Business Plan
Make Sure You're Operating Legally
Choose and Register Your Business
Initial Investments and Location Choice Are Key
Location and Equipment
The Necessary Evil
Paying Taxes

Business Types

There are many types of businesses today, and more than one might apply to a racquet sports business. Will yours be an online business? Are you going “green”? Will you buy into a franchise, purchase an existing business, or work from home? At IART, we’ve found that most participants at our annual training symposium prefer working from home instead of paying high rent for a storefront. For those already in the business, you can surely understand why many are choosing this path.

Business Types

 One of your first decisions is the type of business you will open. Before making your decision, explore available opportunities, such as a home-based or online business.

Calculate Startup Costs

How much money will it take to start your tennis business? Calculate the startup costs so you can request funding, attract investors, and estimate when you’ll turn a profit.

Starting a Home Based Business

Many well-known companies like Apple and Ford started as home-based businesses. If you think being a professional racquet technician means you can’t work from home, think again. Many professional racquet technicians on official ATP/WTA stringing teams are home-based. Where you operate your business has no direct correlation to your skill level. Learn more about setting up a home-based business and what you need to know to comply with laws and regulations.

According to SBA.gov data, there are more than 32.5 million small businesses in the U.S. Half of those, or approximately 15 million, are home-based businesses. The percentage goes up to more than 60% if you include small companies without paid employees.

Online Businesses

Establishing an online presence can be an excellent way to sell and market your goods and services. With today’s technology, there are numerous websites where you can find information on starting and running a home-based business.

Buying Existing Businesses or Franchises

Buying an existing business can be less risky than starting one from scratch, but it’s important to understand the terms of purchase before proceeding. Learn more about purchasing an existing business.

Self-Employment in the United States

Being self-employed or an independent contractor can offer small business owners flexibility as well as challenges. Learn about the pros and cons of self-employment and how you can get started.

Women-Owned Businesses

Learn about the wide range of federal programs available to help women-owned small businesses start up, grow, and succeed.

Veteran-Owned Businesses

Starting a small business is a tremendous opportunity for veterans. The federal government has programs specifically for veterans and the military community.

People with Disabilities

Starting a business can be a great opportunity for those with disabilities because of benefits such as work flexibility. Learn more about government programs for disabled small business owners.

Millennials in the Workforce

Millennial entrepreneurs are the key to our nation’s economic future. Learn about federal government resources to help aspiring small business owners succeed.

Older Workers: Labor Force Trends

Don’t overlook this demographic for potential employees. Through 2024, the participation rate is expected to increase fastest for the oldest segments of the population—most notably, people ages 65 to 74 and 75 and older.

Minority Labor Force

The SBA is a strong advocate of minority and special audiences, and they know doing business with the government, also called government contracting, can be a very lucrative endeavor for small businesses.

Green America Certification for Green Businesses

Green businesses not only benefit the environment but also use eco-friendly business practices as a means to market their products. Learn more about how to get certified as a green business.

Next Up: Business Structures