Starting an Advertising Agency

Follow the right steps to make starting an advertising agency an exciting and successful effort
By Tai G., Writer Starting an advertising agency can be a very exciting endeavor, but one that requires a high level of accountability and cooperation among the employees, clients, and media involved. Many people consider the entrepreneurial route, but it is a risky road to take, especially if you don't set yourself up for success. You don't have to sell a unique product, but you should offer a one-of-a-kind service.
 

Anyone can start his or her own advertising agency with the right attitude and financial backing. Competition will be fierce. You can't expect to put your feet up because it's your own business. On the contrary, you should expect to work very hard in the beginning. Before quitting your full time job in the hopes that you become your own boss and open your own advertising small business, ask yourself the following:

1. Are you committed? It takes more than just a good idea to open your own advertising service. It takes time, money and hard work.

2. If applicable, do you have the right partners? Friends are not always good business partners. Vet potential partners as objectively as possible.

3. Have you done your research to make sure there's demand for your product or service? You may have a great idea, but how many others have the same idea?

Start your own advertising firm with credibility and get licensed

All advertising businesses are legally required to obtain some type of government license. Other official documents include seller's permits, federal and state employer tax ID numbers, and trade name certificates. There are many online resources and state departments that can help you file these documents. Should you decide to work from your home, you will need special zoning documentation as well.
Try: Business.gov can assist you in obtaining the necessary federal, state and local permits, licenses, and registrations you'll need to start offering advertising firm services successfully. Use the “Permit Me” tool for efficiency. The Internal Revenue Service can help you get an employer tax ID number for your business.

Join an association and build credibility when you open advertising small business services

As a new business owner, you don't have to go it completely alone. Consider joining an industry association for support. Organizations bring together professionals with the same goals and challenges. As a member, you'll have access to certification and educational opportunities. Professional organizations also organize networking events, so you can meet your peers, vendors and suppliers.
Try: As part of its career development program, the American Association of Advertising Agencies offers national workshops and seminars for professionals across all levels and disciplines. The American Advertising Federation provides an online calendar that includes a variety of industry networking events.

Partner with reliable employees when you open your own advertising business

When you start an advertising firm, it's imperative that you partner with the right employees. Your employees must be reliable, accommodating and thorough. You want to build a long-term relationship with your staff and they must also share your interest in pleasing your clients.
Try: MarketingJobs.com offers a forum for employers to post openings in the advertising industry, not only on the site, but within the MarketingJobs.com Network. It also offers employer packages and specials. MarketingHire.com provides a niche database for industry recruiters.

• When you first start advertising agency services, you may decide to balance your own finances. But as your business grows, consider partnering with an accountant who can help you with tax issues, and help you build a financially sound company.