Relocation is a big move, so ample research is crucial. If you’re considering transplanting your family and business to Los Angeles, California, you likely have many questions. Blog Vending World aims to answer them all in this all-inclusive guide.
Considering Moving to LA?Los Angeles has a reputation for being a cultural melting pot, as well as a significant business hub. Tons of events and activities for families as well as business professionals appeal to every demographic.There’s a lot to love about the area, but, like any big city, there are also some not-so-shiny features to consider. For example, recent surveys done by UCLA show that many quality-of-life index figures were negatively impacted by pandemic conditions.That said, residents in LA are looking for positive change in communities. New businesses and professional opportunities are excellent ways to promote growth and progress.
Is Living in LA Affordable?The truth is that Los Angeles has a statistically higher cost of living than many other US cities. Per Payscale, the median rent is $2,781 per month, while the median home price is just over $910,000.Statistics don’t tell the whole story, though; Los Angeles spans over 500 square miles and countless neighborhoods, so there are deals to be had all over.Plus, you may find tradeoffs that make living more affordable. For example, rent may be high in one area, but transportation costs could be nearly non-existent thanks to walkable amenities or a convenient public transit stop.
Finding Your New Residence in Greater LAThe great thing about finding a place to live in LA is that there are many diverse neighborhoods to choose from. Though rental rates may be up in some areas, they are lower in others — and Los Angeles has tons of rentals available.Searching online rental listings with your family’s must-haves in mind can help you narrow down the options.
Entrepreneurship Thrives in Los AngelesA thriving entrepreneurial community is one perk of moving to Los Angeles. While there is no shortage of clientele or customers for your business, there’s also an abundance of support among fellow business owners. Check out these organizations for entrepreneurial advice and connection:
- Entrepreneurs’ Organization
- LA County Consumer & Business Affairs’ Entrepreneur Center
- Los Angeles Area Chamber of Commerce
- LA County CAMEO
Community is a Built-in PerkNot only is Los Angeles appealing because of its formal business offerings, but it’s also ripe with opportunities to build personal relationships. Community parks and venues offer places to gather for events that help build engagement among neighbors and colleagues.
- Griffith Park offers walking trails, city views, the Greek Theatre, and the zoo.
- Vista Hermosa Natural Park features water features, play structures, and more.
- Exposition Park is central to arenas and museums where events take place year-round.
- Los Angeles hosts annual events like the Grammys, VMAs, Cinco de Mayo celebrations, auto shows, football games, and more.
Education Tops LA’s PrioritiesHigher education is a significant draw in Los Angeles, and a wealth of recent graduates means plenty of local talent for companies looking to hire staff. LA is home to public and private universities, plus junior colleges and postgraduate offerings.
- University of California Los Angeles (UCLA)
- California State University Los Angeles (Cal State LA)
- University of Southern California
Ready to Start a Business in Los Angeles?Business thrives in LA, but there are a few must-do steps to check the legal and regulatory boxes as you get started. For example, you’ll choose a business entity structure for your business that dictates tax advantages and impacts your liability.Forming an LLC may be your first step, and then you’ll need to:
- Apply for an Employer Identification Number (EIN) with the federal government
- Register your business with the County
- Obtain a seller’s permit
- Determine whether you need to file a fictitious business name