If you have a passion for match-making and you want to take it to the next level, this guide can help you by providing the basic knowledge and useful tips needed to get your business started. There are many things to consider such as how you will operate your business, registration, advertising, protecting clients’ information, potential employees etc. If successful, your speed-dating business could contribute to a thriving and ever-growing industry!
Step 1: Choose your Business Structure
Do some research and decide whether you want to register as a company, a sole trader, or a partnership. This business avenue can be very diverse, so you need to decide whether your business will be mostly online or physical, whether you will be entering into contracts with your customers, and how you will make money (through advertising or directly from customers, or both).
Step 2: Get an ABN and Register your Business
As with all businesses in Australia, you will need to register your business name, obtain an Australian Business Number, a Tax File Number, and possibly registering for the Goods and Services Tax. LawPath can help you achieve these requirements easily and quickly. This type of business is typically run as a sole trader.
Have a look at our simple and affordable ABN and ACN registration services.
Step 3: Resources
Whether your business will be mainly online or in person, you will probably need a website to promote it and provide information to your customers. This includes registering a unique domain name. You should consider protecting your domain name with a trade mark to prevent possible legal action taken against you. You will generally register your website as a commercial entity.
LawPath provides templates and services to ensure that your website will be protected under Australian Law. You should also consider what other costs you will have, such as internet, software and other computer tools.
Step 4: Staff
Your small business may require you to hire employees, especially when it grows in success and more people start hearing about it. If and when you let others into your team, you will need employee agreements to limit your liability.
Step 5: Privacy Issues and Contracts
If you are planning on receiving and storing customer information, you need to consider security and privacy. The Privacy Act outlines Australian laws regarding individual information and provides a list of Privacy Principles that will determine how you should properly handle and use your clients’ information. Although this is useful to know, you do not need to comply with the APP if your customers give consent to the trading of their information.
If you plan on starting a business at a physical venue, have a look at our various Legal Guides on Starting a Business.
If your business is based primarily online, check out our Legal Guides on Online Businesses.
Need to find out more about starting a business? Contact a LawPath consultant on 1800 529 728 to learn more about customising legal documents, obtaining a fixed-fee quote from one our network of 750+ expert lawyers or any other legal needs.