How to Open an Advertising Agency in Bangladesh
Open an Advertising Agency in Bangladesh
If you’re thinking to start an advertising agency in Bangladesh, you may need some help to build your agency successfully. You have finally had the guts to step away from being employed to working on your own when you have been in the advertising industry.
Although competition is quite stiff, starting an advertising agency is quite a profitable business. If you to know how things work, it shouldn’t be quite difficult. And it’s not only quite daunting but you would not know where to start the set up of your business.
While starting an advertising agency focused on assisting small business owners, put your advertising and marketing skills and experience to good use. In order to figure out how to best advertise their products and services, many advertising agencies concentrate on big corporations with massive advertising budgets, leaving small business owners.
Why Open an Advertising Agency in Bangladesh
As Bangladesh is one of the fastest growing developing countries of the world, there are wide needs for an advertising agency in Bangladesh.
Rather than final products, a small ad agency can be a low-cost start-up because advertising agencies provide primary services. Then, you can bring some of the primary services that you use in-house as your agency grows. Besides, the fourth cornerstone would have to be the internet when radio, print, and television hold up three corners of an advertising agency.
As a result, many companies are increasingly shifting their advertising money to alternative media. It means that there are good chances for the agencies that offer Internet advertising services. As the trend is almost fully occupied by the internet, it’s easy to use it for the advertising as well.
Steps to Open an Advertising Agency in Bangladesh
As there is a wide competition in the advertising agency in Bangladesh, you must know how to make it cost-effective. This is because advertising campaigns are one of the toughest challenges that most small business owners face. Since it requires experience and creative skills to determine what type of advertising and message will work best, advertising is an all-encompassing task.
And as all of them are with the ‘greatest offer’, it’s confusing the matter that small business owners are bombarded daily by advertising salespeople. So, what is the way to get started as an advertising agency in Bangladesh with success? That’s nothing but some of the effective steps to follow are below:
Step #1 – Business Plan
When setting up an advertising agency in Bangladesh, the first and most step to make a detail business plan. This is because when you’ll set up your agency, it’ll be helpful to you. Not only get a smart start and do accordingly but make an operation plan with the detailed business plan. And you’ll determine what you need to do and steps to get it in this way. So, while getting involved with to be able to operate in your area, part of this process is getting the right license and knowing the right association. Besides, there is one thing, which is very important while setting this up is your expenses. You must plan how much capital should be invested in the business, setting up the whole operation and more.
Step #2 – Location
When you’re setting up your office, you must choose the right location. But, if you work from home, it’s definitely a money saving in these days. Moreover, this way they would know your legitimate and not a fly by night agency if you intend to get big clients they would often ask your office location.
Also, it this gives you a more professional and legitimate look to your future clients for a start-up business like yours. Besides, when you invite future clients to see your office and how you operate you have a better chance of closing a deal when.
Step #3 – Sales and Marketing
The next important thing to do is get clients when you have planned and implemented everything on your business plan. So, we suggest you let your partner do the marketing or get someone good in sales to do the job for you if you’re someone who is more into the creative aspect of the business.
Also, when no one knows you exist, it pays to let them know you exist and what good is a business. And it’ll help create interest in the services that you can offer going out there and make some noise. That’s why these are pretty much the basics of how to get started and not losing track of your end goal.
Step #4 – Go Virtual
As we’re living in the internet age, a brick and mortar business isn’t definitely necessary. More companies have looked to virtual agencies to provide services that were in the past limited to local agencies, the economy has become more global consequently.
Among two ways of a virtual online agency, the first one requires the least effort and capital is to have your presence on the web. And the second one is to make easy your website to clients enabling their ad campaigns themselves. Here the website programming and database management online requires a great deal.
Step #5 – Create a partnership
The need to create a business partnership may wonder you to know. When setting up an agency, it’s good practice in setting up the partnership. But, it would be advisable to have a partner if you are more inclined to the creative side of the business. Also, a partner is good to handle the administrative, sales and marketing side of the business.
Step #6 – Required Legal Documents
If you want to avoid troubles with the legal authorities then legal documents are necessary. The documents you need are as below:
- Certificate of Incorporation
- Trade License and Permit
- Tax Identification Number (TIN)
- Business Identification Number (BIN)
- Operating Agreement for LLC
- Sales Tax Permit
- Insurance Policy
- If you rent a space, contract documents
Related Content: How Much Money Do You Need to Start a Small Business in Bangladesh?
More Steps to Follow to Open an Advertising Agency in Bangladesh
There are some more steps to follow while starting an advertising agency in Bangladesh as below:
- Join advertising industry trade associations
- Build your contacts
- Create an Internet advertising agency
- Make a Unique Value
- Create a Brand
- Make a team