Most international business owners would love the opportunity to expand their business into new markets, such as the United States. After all, the US brings new people with new needs who would make a great market for your business. However, just because you want to start a business in the US doesn’t mean that it’s easy. It’s actually a lengthy and detailed process, and you want to be sure that you consider everything before making your final decision.
1. Market
Before you consider starting your business in the United States, you want to be sure there is a target market for your products or services. Do some research in that area to determine if it’s the right place. The United States is very large, and what may work for people in New York may not work for those in Arizona, so you want to be sure you are choosing the right location for your business.
Do this with a small test run. For instance, if you’re selling a product, you can see if a third-party in the area would be willing to sell it for you and see how it does. If you have a service, consider testing it out in a small area. The more research you can do to see if this is something that people would like in that area, the better chance you have for success. After all, if you spend the money to move to this new place and your business doesn’t take off, it wasn’t a very good investment.
2. Laws
Immigration laws vary from location to location, and chances are you may want to take some of your existing employees to the new business location. In order to do this, you want to be fully aware of any immigration laws that need to be followed. According to Hirson Immigration, “For those who are interested in obtaining lawful permanent residence in the US by investing into a US business, acquiring the services of an experienced EB-5 attorney is of the utmost value and importance.” By doing this, you’ll be able to receive the information you need to legally keep your employees safe during the transition.
3. Logistics
There are plenty of benefits to opening a business in the United States, but you need to carefully consider the logistics. If you will still need to travel regularly to the new location, then you’ll want to consider the cost of the logistics. You also want to make sure that the location you choose is close to clients or consumers who want your products or services. After all, if you opt for a location that isn’t logistically accessible or effective, it could actually harm your business more than help. As mentioned above, be sure to do your research, because your product may be better off in one state versus another.
4. Cost
Obviously, money is very important, so you want to be sure you’re making the right decision when it comes to overall business cost. Make sure you understand exactly what it will cost you to open a business in the United States. Don’t just consider the cost of the building, employees, etc., but also the cost of permits, visas, and other items that are required for you to legally open shop. Once you have a firm number, you can use this to determine if opening this business is actually worth it.
5. Benefits
Sometimes the perks outweigh the risks. There are plenty of advantages to opening a business in the US, but it should still be something you truly think about before diving in. Be sure to ask yourself some important questions. Do you receive tax breaks? Is there a better market? Do you have more growth opportunity? There are many things to consider, but besides just focusing on the legality and cost, you should also allow the benefits to play an important role in your overall decision.
Making the decision to open a business in the US an important step for any global company, so you want to be sure that you do it correctly and successfully. Use these tips to make sure you consider everything necessary before making a drastic change for your company.
