There are many ways to run a business today. If you want to start a car title loans business, one of the things you should consider is to run it as an online business.
An online business is easy to manage and it does not require the operating expenses typically found with businesses that have physical premises.
Below are some of the steps involved in setting up your business online:
Normal business set up process
This is similar to a physical business set up process and it includes:
- Come up with a business plan.
- Raise some capital by promoting your idea to investors or getting a credit extension facility from the bank.
- Register your company name as a limited liability company.
- Hire any necessary staff; majority will work virtually, but you might need some foot soldiers to coordinate certain processes on the ground.
Once you have this part sorted out, you can move on to the online set up process.
The online set up process
- Get a domain name
Your domain name should show your business name. Registering a domain name is fast and cheap. Beware of scammers, however. There are many scammers online so be sure to deal only with credible domain registration companies.
- Host your website
Once you register your domain, it will need to exist in a space where it can be accessed. This is called web hosting. There are many web hosting services available and you can choose from any one.
It is also possible to use a cloud web hosting service. You can do some further research on the internet on what such a service entails.
- Create your website
Your website will be where your customers are directed to when they search for your business. If you know about designing the web, you can do it yourself. You can also hire a web design expert at a friendly fee.
Make sure the design of your website is unique. Do not duplicate another site as this will contravene copyright laws. In fact, search engines will pull down your site if you duplicate other sites.
During setup, ensure to include requirements such as a tab for loan application. Also, based on your business strategy, you can include online payment options such as PayPal on your website.
- Start business
Your business depends on visitors to your site. During the website creation process, you should include social media links that will enable you to market through social media.
Traffic generation is also about content. Update your content regularly to improve your chances of search engine ranking.
Important points to note
- Lending businesses have separate laws that govern them in each state and you can research them online. For instance, if you are in San Jose, search for laws that govern San Jose auto title loans.
- You must enlist the services of an internet lawyer in your state to guide you on necessary federal, state and local guidelines and regulations for online businesses.
- Learn the tax requirements that will apply to your business and adhere to them.
- Invest in a good anti-malware to increase security for your business.
About the author
Charles Jabari is an online business consultant. He runs 3 successful online businesses and has decided to start a fourth one that gives online loans. Jabari’s experience makes him uniquely suited to give useful advice for running any type of business online. Visit his site to learn more about how to launch your San Jose auto title loans business online.