You might have heard that there is a high demand for virtual assistants. It is an excellent option for remote work from home if you have experience in administrative tasks in a specific niche. However, instead of working for just one big company, you can work for several small companies as a virtual assistant company.
If you decide on that route, you should set it up as a legal business. Here is what you need to do.
Steps to Set Up a Virtual Assistant Company
Before you start accepting clients for your company, make sure everything is legal and aboveboard. As a virtual assistant, you handle sensitive and confidential information. Correctly setting your business up lends it legitimacy, making it easier to get clients.
1. Pick a Niche
Your niche depends on your skill set and previous experience. For example, if you worked as a hospital administrator in the past, then focus on email management and scheduling for clinics.
2. Write a Business Plan
You might find it hard to choose a niche for your business. Writing a business plan helps you. A business plan also provides a roadmap to your company’s growth, so you do not lose sight of your objectives.
3. Choose the Business Name and Register It
Most US small businesses are sole proprietorships, because it is the easiest to set up. You start working immediately and pay taxes as an individual. If you are in Wyoming and want to operate under a trade name, you need to confirm it is available and then apply for the trade name.
However, you should probably set up your virtual assistant business as a limited liability company or LLC in Wyoming. Virtual assistants have access to sensitive and confidential information, so clients want to ensure they deal with a legitimate company. Setting up an LLC also limits your personal liability in case of legal issues.
4. Invest in Hardware and Software
Invest in a work laptop and any software to help you manage the work. Get the best you can afford, as the quality and efficiency of your work depends on the tools you have. For example, if you handle scheduling for clinics, then purchase a professional version of medical scheduling software. The free versions typically have limitations, which are not good.
5. Establish Your Prices
Ensure you establish prices before you start offering your services to clients. You can choose to charge by the hour, service, or monthly retainer. Find out how other virtual assistant companies do it to help you decide.
6. Create a Contract
Your pricing model determines the terms of the contracts you have with your clients. You will find several templates available online. Alternatively, ask a lawyer to draw one up for you to be on the safe side.
Takeaway
A virtual assistant company is an excellent work-from-home option because of the demand. Follow the steps above to establish it as a legitimate company that can quickly scale.
