If you’re after hiring a business agency for your company, you have to be very selective. Hiring one is a very crucial decision and may mean either a big gain or a big loss for your business.
Also, every state requires corporations and LLC to have registered agents. You may put yourself as a registered agent if you’re the owner but this puts you in a vulnerable position. This is why hiring from an agency is the more preferred method. The registered agents are the ones who will handle the government, legal, and tax-related concerns with the corresponding governing bodies. If you’re looking for a good one, you may use this criterion to help you decide.
The first thing to look at is the reputation of the agency. Always remember that the documentation and paperwork of your company are very important. For this type of crucial task, you’ll need registered agents who have a good reputation so you can ensure quality service. You may find out the reputation of an agency through social media reviews and review sites made by customers.
Another aspect that you have to look at is the specialization of the agency. Not all agencies specialize in a particular aspect of business forming. Some specialize in handling taxes while others are better at capital structure and corporate planning. Even though all of them can cover all business forming aspects, each has their own specialty. You have to choose the one whose specialty fits your short term and long term business goals. You must also choose the one who can compliment your strengths and can cover your weaknesses.
Unlike other types of companies, there are numerous ways that agencies price their services. Their first method is by the hour. This is usually the case for businesses who make heavy use of the agency’s services but don’t have a fixed contract.
The second way is through a monthly retainer fee. This may end up cheaper if you plan to use their services a lot. Regardless of the hours and the job scope (this has to be discussed in the contract signing), the monthly fee is already fixed. However, agencies who agree to a monthly fee usually ask clients to commit to a certain number of months before the contract is renewed again.
The third way is by the allocation of resources. The two parties agree on a percentage that the client will pay. The job scope is not very strict but the results are the ones to look out for.
Finally, you must also look at the contract commitment. Most contracts are six months to a year, but may last for a shorter time. For the benefit of the client, a 30 day out clause can be stipulated if the client isn’t satisfied with the service. However, the longer the contract, the more priority the agency will give.
These are some of the things to watch out for when you hire a business agency. Always remember that a business agency is crucial if you want your company to have a good start. This is why you have to choose one very carefully.