Posts Tagged Justin Ayars
Congratulations, Richmond Business Alliance!
Creating a customer base for your new restaurant can be a challenge. Advertising campaigns that involve TV commercials and radio or newspaper ads are quite costly. However, there are no-cost marketing strategies you can use to stimulate business.
Sampling is a good way for new restaurants to introduce their product to the neighborhood. It allows you to talk about the restaurant, too, and build a relationship with customers. Beware of introductory promotions, though. They position you as a discount restaurant, and if this is not your goal, it is best to avoid discount pricing altogether.
Promotions can be offered in the form of themed dinners, guided wine pairings, or course of the day offerings. These types of promotions help lure customers in on particularly slow nights.
Placing a bowl at the host desk for customers to leave either comment cards or their business cards allows you to view feedback and act progressively; it also allows you to build a customer database. Finally, do not ignore social media. You can provide incentives for customers who check in at your restaurant and post your promotions on the Internet.
About Justin Ayars: Justin Ayars is the founder and owner of 2113 Main Street, LLC, the first restaurant in Richmond, Virginia, to embrace the restro-lounge concept. Ayars is also the founder and managing member of Tinker, LLC, a Richmond woodshop, and J.J. Jitterzz Koffee Kompany in Williamsburg.
The owner and founder of Umbrella Management Group, LLC, Justin Ayars has experience in both law and business, and he currently advises a wide range of companies on issues of management, planning, design, organization, public relations, and marketing. Justin Ayars also owns several small businesses and has worked to build them into successful enterprises. Here, Mr. Ayars lays out the basics of a marketing plan for any business.
Each year, companies interested in improving their business through better marketing should construct a marketing plan. This plan may be short or it may have many hundreds of pages, depending on the size of the company and the complexity of its needs, but the plan should cover a year in marketing with further space for documenting monthly progress and reports.
A marketing plan should draw information from every sphere of the company, including finance, manufacturing, human resources, sales, and so on. Every facet of an enterprise should participate in the process of marketing the company and its product to consumers, and every player should feel invested in the success of the plan as it comes to fruition.
A great marketing plan sets out the market situation for the venture, including the products that are offered, the size of the market, geographic considerations, and the key target demographic for the product. It should then move on to addressing the threats in the market, including any areas where the company may lose its sector of the market due to trends running against the product or new successful players in the field. Finally, a marketing plan should highlight opportunities and places where the organization can do a better job appealing to customers from many areas. This can include upcoming promotional ventures, new slogans, new products, or changes in the organization of the company that can increase sales and profits.
When starting a new business, there are a number of legal considerations that should not be neglected. From the name you select for your business to the location of your operations, nearly everything has a legal implication. Below are a few legal issues to consider.
By contacting your state’s office for the Secretary of State, you can determine if the name you want is available. You can also use different corporate and business names and operate under the “doing business as” designation. For example, “Ayars Inc. d/b/a Ayars Woodshop” has the corporate name “Ayars Inc.” and the business name of “Ayars Woodshop.”
Whether you will need a business license depends on what type of business you are operating. To avoid unnecessary fines, check with your municipality on specific licensing requirements. This includes confirming that the location of your business is zoned to allow for your business’s commercial interests.
There are several ways to structure a new business, including sole proprietorship, a corporation, a limited liability company, or a partnership. An attorney can best advise you on which structure offers the best liability and tax ramifications for your business.
About Justin Ayars: In 2007, Justin Ayars received his law degree from George Mason University School of Law. Ayars is the founder and owner of Umbrella Management Group, LLC, in Richmond, Virginia, an all-inclusive management company that oversees the legal, marketing, and financial strategies of various businesses in the Richmond area.
As the founder and owner of Umbrella Management Group, LLC, Justin Ayars utilizes his experience as an attorney to provide expert legal and management services, helping companies to manage their business affairs. Possessing extensive experience, Justin Ayars offers the following definitions of the various legal forms your business can take.
1. Sole Proprietorship: You can structure your business as a sole proprietorship if you are the sole owner and do not wish to maintain a corporate structure. The sole proprietorship is the simplest form in which you can organize your business and the least expensive to set up because the government does not require any specific application process. However, it is important to note that a sole proprietorship leaves you solely liable for any debts, and if your business defaults on these, your personal property may be seized.
2. Partnership: If you plan to co-own your business with one or more people, then the simplest legal form you can select is a partnership. Partnerships can take three forms: general, limited, or joint venture. In a general partnership, all owners divide responsibilities, liabilities, and profits equitably. In a limited partnership, managing partners assume liability for the business, while limited partners only risk any money they have invested in the company. Joint ventures function like general partnerships, but only for a single project or venture. No government forms are required to establish a partnership.
3. Limited liability corporation (LLC): This type of incorporation protects all business owners from personal liability for company debts. While you are required to file incorporation with the state, the limitation of liability provides a distinct advantage. Likewise, LLCs possess a pass-through tax structure that allows partners to file their income from the companies on their personal income taxes, although they may be liable for self-employment taxes. Each of the principles outlines the responsibilities, liabilities, and percentage of profits received in an Articles of Incorporation.
4. Corporations: A corporation exists as a business entity. Like an LLC, liability of the owners is limited. However, corporations have no pass-through provision. Profits and losses are taxable to the corporation, not the owners. Thus, the corporation files taxes as an entity.
5. Nonprofits: The entities exist for the public good. As such, they may be exempt from paying taxes on income or contributions.