Guide To Form A Business Entity
Creating A Legal Business Entity To Connect A Rewards Program.
STEP 1. Study, learn & Comply with all federal and state laws. seek an attorney. (find out about sweepstakes & Contests)
STEP 2. draw up a business plan. with costs, profit, losses, products, services & more. as well as creating an operating agreement if your are going to be starting an LLC or Partnership.
STEP 3. Create a business trade name which know one has rights to. Then register that business name with your local states registered agents. GET An EIN. Decide which entity is right for you.
STEP 4. Choose your business bank. register with the state any employees and/or contractors. get insurance. file for taxes. send & receive proper paper work such as 1099's or W-9's.
STEP 5. once you are legally registered with the state and federal government as a legal entity to do business in the us. it's time to decide as well as setup your products and/or services. choose wisely, as this can make or break your company.
STEP 6. build your team. build your logo, website and brand name. start a marketing and sales program or hire a team. setup seo, back offices, payment processors, keywords & More. Basically this step is putting in the work to create the actual business.
Learning To Comply With Law
Complying With Laws to Operate Sweepstakes/Contests
STEP 1. Register as a money Service business (MSB)
this step depends on your business type (LEARN HOW)
1. Must register with (FinCEN)Financial Crime Enforcement Network. https://www.fincen.gov/
3. Must comply With (KYC)Know Your Customer Laws. You can find this under AML policy's and Laws. It falls under the US patriot act of 2001.
STEP 2. Must comply sweepstakes/contest business Laws & REGULATIONS from both federal and state jurisdictions. (LEARN HOW)
STEP 3. Know & Comply with " sweepstakes "no purchase necessary laws" (federal) As well as State bound, due to some state requirements to offer a tangible item, before one can enter into a sweepstakes program. (LEARN HOW)
STEP 4. know & comply with "skilled based contest laws" & Chance games regulations per state, city and/or county. these will differ per state. so be sure to get proper legal help. (LEARN HOW)
STEP 5. know & comply with "sweepstakes/contest laws" per state as well as the federal regulations involved with operating this type of service. learn both online as well as brick and mortar legality's, as you will be much better off. (LEARN HOW)
Adding A Rewards Program
Setting Up Rewards & Complying With Laws To Run Sweepstakes
STEP 1. Time to set up your business With A Membership rewards program. You can use one of our experts. Simply put, you're offering more ways a user/client can engage in your business, products, or Services thru a promo Rewards Program. Allowing members an opportunity to gain Free entries or earn points to gain entries or even buy into a sweepstakes And/or Contest involving skill game challenges which win cash & other prizes. (please see "npn" Laws)
The Idea at hand is to use this rewards program only as a promotional tool to bring in repeat sales or services for your pre-existing business. or to run fun contests that participants can enjoy while sharing all benefits of the prize pool, which more then likely they created thru entry fees, (allowed with skill based Games)
STEP 2. Find and make use of a legal sweepstakes/contest software and/or hardware supplier to link your REWARDS PROGRAM TO YOUR REWARDS STORE. Also be sure to write up the official rules and regulations of the sweepstakes/contest, and to have shipping with payment methods in place to make sure your contestants get rewarded.
Follow Federal & State Legal Requirements and Regulations. Please always consult with a real legal advisor and/or licensed attorney. This is simply a guideline to get you started in the right direction.