In this article, we are going to go over how to expand and operate your business in a different state. As you can see, what you will need to have filed is a Foreign Qualification.
We will go over the advantages of doing this, with a brief review of an option on how you can pull it off.
What is a Foreign Qualification?
A foreign qualification is the process of filing paperwork to expand your business in a different state. This allows you to do business in that state. Although, you will also probably need a business license for that location as well, among other things. A good company will set you up with a virtual address as well.
Get this taken care of with Bizee.
Cost of a Foreign Qualification
The cost of a foreign qualification depends on what state you are filing for. For a rough estimate, to file a foreign qualification through Bizee for Nevada while your LLC location is Arizona, it will cost $178.
They also do give a virtual address. Problem solved.
The Benefits of Filing for a foreign Qualification in a Different State
There are many benefits of filing a foreign qualification to be able to do business in a different state. For starters, it means you have a whole new market to tap in to.
Also, you will be able to expand your business without having to start a whole new business from scratch.
What You Can Expect to Accomplish: Is Expansion Worth It?
We do not know your business, so we can not accurately tell you what the best move is, or if a decision to file a foreign qualification so you can expand growth of your business in to a different state is the right move at all.
Furthermore, it is entirely up to you. We do think, however, that you can take a look at the amount of business you currently do.
You should be able to match, or exceed that revenue in another state if you do your research, as well as pick the right demographic.
There is always somewhere you can double your workload, and income if you are in the home services business for example.
Window cleaning or yard work for instance, is needed anywhere you go. Being able to do business in a different state, you can hire workers in that area, as well as hire a manager to oversee everything.
So, is it expansion worth it?
If you are looking to file for a foreign qualification, because you want more income, we’d say it is more than worth it.
Some people would rather cap their income. We know that sounds odd, but they are satisfied with the income they make! They fear expansion. Just like some people fear having to start a business in the first place. It’s work. You must make moves to make it happen.
Bizee makes filing a foreign qualification for your business easy.
More often than not, when someone is afraid of one of these two things, they worry. With that being said, they do not tend to feel how they would feel had they made the decision and got some wins.
I digress.
Foreign qualification is worth it. I would much rather bring home $300k per year, than $100k for example.
Expand your business in a different state.
Makes Your Business Legit
Whether you believe you need to file a foreign qualification or not, if you do business in another state, it is the only way to make your business operation in that state legit.
Let our partners at Bizee file your foreign qualification by going here. They will take care of everything so you can get back to your hiring, and marketing strategy in a different state.
Who knows, this time next month you may add an extra zero to that income.
Conclusion
Filing a foreign qualification for your business allows you to operate under the same business in a different. Although, you may still need business licenses for that state. This can give you the opportunity to expand on a whole new scale.
Adding a zero at the end of the drawl you are able to take for yourself as income is very possible. If you want to open an LLC, check out our home page. We will leave some links below that relate to this article.