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anyone know anything about starting up your own business? I've recently had lightning strike my brain. I had an idea.
My idea would be to modify, decorate, and/or personalize clothing and accesories. I'd pick up second hand clothes that are in good condition and jazz them up a bit. I'd like to target the non-Abercrombie and Fitch crowd -goth, punk, emo, alternakids, etc. You get the idea. Each item would be one-of-a-kind -no two would be alike. I already do this for my own clothes, so it wouldn't be too hard to do. Problem is, I have no idea how to get started. Does anyone know anything about starting up a small business? How is it done? Are there any channels or special consideration that needs to be dealt with? Any help or advice would be appreciated. "A Watcher scoffs at gravity!" | |
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Take a business class. Or a class on starting your own 'clothing business'. Take in consideration overhead and profit; who exactly is your target group. Marketing research; how to and who to. Rent, location, location, LOCATION. Business name. Websites, 800 number for your company, Staffing, supplies, insurance, money saved away for a 'rainy day'. Just a few things to consider and look into.
Look at what others are doing, watch learn, get inspired... You can do it! | |
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Chico1 said: Take a business class. Or a class on starting your own 'clothing business'. Take in consideration overhead and profit; who exactly is your target group. Marketing research; how to and who to. Rent, location, location, LOCATION. Business name. Websites, 800 number for your company, Staffing, supplies, insurance, money saved away for a 'rainy day'. Just a few things to consider and look into.
Look at what others are doing, watch learn, get inspired... You can do it! Thanks so much! "A Watcher scoffs at gravity!" | |
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meow85 said: Chico1 said: Take a business class. Or a class on starting your own 'clothing business'. Take in consideration overhead and profit; who exactly is your target group. Marketing research; how to and who to. Rent, location, location, LOCATION. Business name. Websites, 800 number for your company, Staffing, supplies, insurance, money saved away for a 'rainy day'. Just a few things to consider and look into.
Look at what others are doing, watch learn, get inspired... You can do it! Thanks so much! write to the secretary of state, for the state in which you're living. usually the sec. state has a guideline for this kind of stuff (might be online, for that matter). you can apply online at the IRS' website for a tax ID number. | |
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great idea - good luck!
most area chambers of commerce or small business administrations have groups of retired business people who volunteer their time to guide people through their business ventures. definitely worth looking into! | |
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starting your own business is a difficult, yet rewarding experience.. when you are getting started, i would first say the name is a very important thing, put thought into it as you really cant change it after you get going. then, you need to figure a system out for your bookkeeping.. this is very important as well... keep track of your money in/out, and always be aware of any ways that you can cuts costs. in the beginning, you are going to need to spend quite a bit of time putting energy into your job... posting flyers, you know, the normal ways, also, see if you can get a small space in a local newspaper.. offer a coupon if you have to in the beginning. lastly, as the money starts to be made, make sure you take out for taxes.. that can be a big chunk at the end of the year, so try paying it quarterly if that makes it easier.
have fun with it, being your own boss is a great experience and good luck !! One of the best days of my life... http://prince.org/msg/100/291111
love is a gift an artist with no fans is really just a man with a hobby.... | |
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Thanks everyone! "A Watcher scoffs at gravity!" | |
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Get ready to pay some taxes & make sure u have the proper license(s)
Fukking taxes "Nobody makes me bleed my own blood...NOBODY!"
johnart says: "I'm THE shit" | |
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Oh and when u alter clothes make sure u dont use any thing with someone elses trademark cuz they can sue u
like...the target symbol...the caution yellow tape "Nobody makes me bleed my own blood...NOBODY!"
johnart says: "I'm THE shit" | |
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ThreadCula said: Oh and when u alter clothes make sure u dont use any thing with someone elses trademark cuz they can sue u
like...the target symbol...the caution yellow tape Check. I'm not using anything that has a visible logo, slogan or mascot. "A Watcher scoffs at gravity!" | |
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Can I be your clothing model? Some of you orgers are so deceptive.....using my styles like a contraceptive.... | |
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sinister said: Can I be your clothing model?
Of course! "A Watcher scoffs at gravity!" | |
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A legal product is a good start. Then u need a captive audience, preferably with minimal intelligence. Following that, lots of patience, good accounting and organisation. Don't forget luck too. | |
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I don't know how things work in Canada, but here are some initial considerations that come to mind for a U.S. small business:
1) Company structure. Legally speaking, how will you structure your business? You could run it as a sole proprietorship, but IMHO, that's foolish given the relative ease of setting up an Limited Liability Company ("LLC"). If you do choose to operate as a sole proprietorship, you'll probably need to file a fictitious name statement unless your business name includes your real name. 2) Start-up capital. Starting up a business usually requires a fair amount of money. Where are you going to get it? Investor(s)? A bank loan? (Note that if you set up an LLC or corporation, a bank may want a personal guarantee on the loan. This prevents you from bankrupting the LLC/corporation and escaping unharmed.) 3) Taxes. It's a good idea to get some professional tax advice. For starters, tax issues may influence how you choose to structure your business. (One nice thing about LLC's is that under the IRS' "check the box" rule, an LLC can elect whether to be taxed as an entity, or whether to have the tax issues "pass through" down to the individual member(s).) Also, some of your expenses can be deducted from your company's income... you'll want to know what they are and what kind of books you need to keep to document those expenses. Those are just some thoughts off the top of my head. I'm primarily a litigator and not a corporate attorney, so I'm probably not the best source of information for this stuff. [Matt's Standard Disclaimer: The above is for discussion purposes only, is not legal advice, and creates no attorney-client relationship.] Please note: effective March 21, 2010, I've stepped down from my prince.org Moderator position. |
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a psychic said i'll start my own animal business, at the rate i'm going I don't know. | |
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