Start a halal business as a muslim entrepreneur and become your own boss.
Are you looking to start a halal business?
If you want to start a halal business, you need to surround yourself with people running successful businesses.
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Essential Must Have Halal Business Tools To Grow Into Profit
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In this blog post, I’ll reveal the best ways you can use to start a halal business and grow exponentially!
Every year a lot of muslims start their own business and majority don’t succeed!
This happens not because their ideas are bad…
But, because they do not know how to handle the chores that come with owning a business.
Today, I’ll show you the correct way to become a muslim entrepreneur.
What is a halal business?
A halal business is an entity that operates in the global halal industry, with the aim of making and selling products/service compliant with the Islamic Shariah.
What makes a business halal?
A business only becomes halal when the products do not have pork, alcohol and the animal went through a slaughtering method acceptable in Islam.
Can you make money starting a halal business?
Yes. You can make money by starting a halal business.
But, this depends on many factors like your business location, products, marketing budget and clients served.
Is starting a halal business profitable?
Yes. Halal businesses are profitable and a billion dollar growing industry.
There are so many muslims making a full time living in this industry.
But, it all depends on your determination and ability to run a business.
Why halal is considered as an industry?
Halal is considered an industry because over 2 billion muslims consume products with Islamic dietary requirements.
Also, it highlights Islamic way of life for meeting certain quality, hygiene and health standards.
This is why food products with packaging shows a seal of halal certification.
What is halal certified?
A halal certification is a document issued by an approved regulatory body for Islamic food products.
It also mean the necessary checks are completed and no haram products added in the manufacturing process.
Before you start a halal business, first evaluate yourself.
Are you able to adapt to changes?
Do you have the traits of an entrepreneur?
How do I start a halal Halal business?
If you want to start a halal business, you need to write a business plan, get a website, have training, mentor and finance.
Below 12 best tips on how to start a halal business:
1. Get a business plan
Start a halal business by writing a business plan.
A business plan will guide you on how to get ahead in your new business.
It should include an executive summary and mission statement.
Also, the service or products you are offering, target market and total start up cost.
Investors in your business will want to know these details including how you will spend the budget.
2. Build a website/blog
You need to invest in a website or blog for your halal business.
Building a good site gives you the ability to connect with more people online.
Domain.com is the perfect platform to get your website domain and hosting.
Right now, Domain.com is hosting websites owned by top entrepreneurs.
I recommend you get a website or blog with company.
3. Business training
Before you start a halal business, attend seminars, events and business training in your city.
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Get a mentor and those who succeeded in your business field.
You also need to invest in books and coaching as part of your preparation.
Join your local chamber of commerce and find other budding entrepreneurs to brainstorm ideas.
4. Financing your business
Starting a halal business requires a capital injection.
You are going to need funds to start up.
Look for halal investors who share and agree with your business idea.
Someone you could work with.
Listen to your investor’s advice and suggestions, because they may have a say in your company.
To help you get started, you could also get government grants.
Refrain from haram investment opportunities for your business funding.
5. Legal structure of your business
What kind of halal business do you want?
You could run your business as a sole proprietorship, a partnership, a limited liability company(LLC), a corporation, a non-profit or a cooperative.
Choose the form of ownership that is most suitable for you.
It’s important you hire the right people with experience to help you with your business structure.
6. Choose a business name
When choosing a business name, ensure it suits the type of business you are venturing into.
If you want your business to have an online presence, it is advisable that you buy the domain.
A domain is the name of your website www.yourname.com
Also, Web.com has a WordPress installation.
You can use Page Builder to design a beautiful website.
I recommend you start a business with web.com
7. Register your business name
This depends on where you live, hence every country has different rules.
Register your proposed business name with the county clerk.
In addition, have your business trademarked.
If you choose a wrong hosting company, it can be a daunting task when your site get hacked online.
I strongly recommend Hostgator company for their added protection against hacking.
8. Sort tax obligations
Starting a halal business requires you to pay certain taxes.
These taxes vary depending on your country or state.
Income and employment taxes are the most common types of tax requirements for a small business.
The legal structure of your business determines your state income tax obligations.
9. Get licenses
If your halal business is a limited liability or a sole proprietorship company without employees, you may be exempted from applying for certain licenses.
Most countries have a department responsible for tax identification numbers.
Research about such a department in your country and their procedures.
10. Choose a business location
Starting a halal business require having an ideal location as a priority.
Choose a good location for your target market audience.
Run a competitor analysis before choosing your location.
You should ensure your halal business does not have low sales rate compared to your competitors.
If you have low sales, having a business location close to your competitors will be an advantage for you.
11. Employer responsibilities
It’s your job and responsibility to know the laws regarding hiring employees.
You can’t just hire without knowing the rules.
Invest in expert guidance and ensure all your employment contracts meets the guidelines.
Failure to understand employees responsibilities, may lead to lawsuits and possible fines.
12 Be flexible and adapt
Starting a halal business requires flexibility and adaptation.
When you have investors and employees, chances are that your original idea will have to be improved.
Learn to adapt to these changes and meet your customer needs.
It’s all about studying and understanding your market and trending matters.
In this post, we discussed in detail about how to start a halal business.
You have acquired new found knowledge to launch a profitable business.
Starting a business demands your complete focus.
You should register your business website domain name and hosting.
Finally, I recommend take action and grow your business.