From a legal perspective, this lack of uniqueness doesn’t need to be a major concern. According to the rules governing business incorporation in most states, if you find yourself opening with the exact same name as another business, you can keep it as long as “your business and the existing business offer different goods/services or are located in different regions.”
Some people lean towards starting a small business because they seek freedom, others to fulfill their passions. Some entrepreneurs, however, are driven by a desire to build a legacy, one that that they can hand down to generations to come. Whatever your reasons are for reaching for the stars and aiming for the moon, before you start, remember, there is a dark side.
Meaghan Brophy is a retail writer for Fit Small Business. She has provided content and guidance for indie retailers for years as the editor for Independent Retailer magazine, a RetailWire BrainTrust panelist, and speaker at trade shows such as the Independent Retailer Conference and NY NOW. She has been quoted as a retail expert in Forbes, Retail Dive, Retail Minded, ASD Insider, and more. When not talking retail, Meaghan can be found watching dog videos and practicing her tap dancing skills.
Often times those same freedom-seeking, passion-driven individuals that started their journey filled with courage and optimism, become some of the most time-pressed and financially-stressed people out there. The flip side of getting to create your own wealth is that you are solely responsible for creating your own wealth. That’s right, it all comes down to Y-O-U.
Chances are if you’re starting a new small business, you’re not afraid of a little risk. However, it’s also highly likely that you have invested a large amount of money in this new endeavor. It is only prudent to take sensible steps to minimize the impact of unexpected events, like the untimely death of a business partner, a lawsuit from a customer or employee, or a freak accident of nature.
I totaly get not wanting to get into the cost part of the shop. We just went through a house renovation, and my stock answer to the ‘how much’ question is either ‘enough’, or ‘enough that was right for us’. There is a quality of life or utility aspect that every person needs to figure out for themselves. And, I would think not having to bounce around from garage to garage anymore has gotta be worth something!
Plan to invest in a set of bench chisels, both standard and low-angle block planes, a No. 4 or 4-1⁄2 smoothing plane, and a No. 6 jack or No. 7 jointer. Between them, these planes will true edges, flatten glue-ups that are wider than your thickness planer, and tame tricky grain that would tear out with a mechanized planer. They also do fine trimming better than any other tools.
The good news is that when you’re starting your small business, you now have the tools to take a data-led approach to choosing the right store design. For example: Not sure what type of music gets your customers in the mood to spend? Simply choose a few different styles and display a different one each week. After the test is complete, analyze sales data to help you identify what could be impacting sales. The key to getting accurate results from this kind of test is to avoid switching up the other variables in your store that can impact sales, such as signage, or testing one type of music during a regular business week and another type during a holiday week. For more details on how to create controlled in-store experiments, you can check out Lean Retail 101
The space behind a door is a storage spot that’s often overlooked. Build a set of shallow shelves and mount it to the wall behind your laundry room door. The materials are inexpensive. Measure the distance between the door hinge and the wall and subtract an inch. This is the maximum depth of the shelves. We used 1x4s for the sides, top and shelves. Screw the sides to the top. Then screw three 1×2 hanging strips to the sides: one top and bottom and one centered. Nail metal shelf standards to the sides. Complete the shelves by nailing a 1×2 trim piece to the sides and top. The 1×2 dresses up the shelf unit and keeps the shelves from falling off the shelf clips.
First, let's dump that hand powered saw/miter box. It gets the job done, but it takes forever. We're still on a lean budget, but shelling out ~$110 for a 10 inch electric miter saw makes a lot of sense. This won't be your forever saw, but it should do fine for most projects. It can handle up to a 4x6 stock which will cover 99% of what a beginning wood worker will throw at it.
Most of today’s POS systems have integrated inventory management software that allows you to put hours back in your week, whatever the volume of your stock. A quality point of sale system will allow you to manage pricing changes, track product availability, cross-check inventory, and automate reorders with ease. All of which are crucial in helping you develop a deeper understanding of your business, enabling smoother day-to-day operations and smart purchasing decisions.
Both of those broader lenses are still useful ways to look at app costs, but costs can additionally be broken down by app type and the features associated with them. Also, two years in technology is a very long time. So, we will start by looking at what's changed. We'll then move on to looking at app costs based on the different kinds of apps in the market.
Many retail fixture and display companies provide store planning and design services to their customers. Though typically not free, these in-house design services can be far less expensive than hiring an independent designer. Plus, they can help streamline the process of store layout and planning, along with the purchasing and installation of displays and fixtures.
A lot has changed in recent years. Sophisticated, yet affordable technology now exists that can help track customer relationships from an ad placed on Google, right through to a successful sale. This offers small business owners a unique chance to be entirely data-driven in their marketing approach. Every single aspect of your small business can be tweaked and optimized to ensure that you are enticing customers, up selling where possible, and encouraging people to spread the word about your business.
Once I had the walls completely filled in and trimmed out, I built my doors. I clamped them in place each day until after I painted. Then I installed the hinges and hardware. I decided to change my original plan of building a hinged 4 foot door. I was worried that the weight of it would cause it to sag over time. I had also decided at this point to install a small unused AC in the back wall. I thought that by keeping one of the doors closed, I could keep more cold air in during the hot summers.
Ralph has three decades of professional experience in using workshops and setting them up, and it certainly shows in his Ultimate Small Shop guide. You’ll find all the important information you need to put together your own workshop, including how to save money when putting one together; all the tools and equipment necessary to run a workshop; tips for choosing the best equipment; factors that should be considered when buying things for the workshop; and so much more. If you’ve considered setting up a workshop but feel you don’t have the time, space, or money – then you need to check out Ultimate Small Shop – How to Set Up a Complete Small Workshop on a Budget.
According to a recent digital marketing survey conducted by Clutch, 74%of small businesses surveyed had a company website. Of the businesses that said they do not have a website, 9% said they planned to build a website in the future, while 10% said that that they are unlikely to build one. One thing is clear, small business owners are starting to join the digital revolution and are reaping the rewards in terms of increased customer loyalty, growing word-of-mouth, and most importantly, increased sales.
It’s tempting to place new products, hot items, and sale signage front-and-center so they’re the first things customers see upon entering. But don’t do this! The first few feet inside the door, say five feet for a small store, and 15 feet for a larger store, is known as the decompression zone. Store design experts strongly advise against cluttering up this space.
For now we’re just getting it out of the room so that our electrician can get started. In any kind of workshop you want plenty of access to power and lots of use of the light. So Mike our electrician is hooking us up. If a service call from an electrician isn’t in your budget you can plan your space so that you can best take advantage of the outlets that are already there. Now Mike has checked all of these surfaces to be sure they can handle these extra outlets he’s adding.
That headline struck me as discouraging. As an entry fee, $5,000 seems high enough to exclude a number of potential woodworkers, myself included. Christiana softened the blow by saying that used tools could cut the cost roughly in half. That figure seemed much closer to my experience, which involved buying a mix of new and used tools. Having said that, buying the right used tools is much more difficult than buying from a catalog or dealer who stocks everything needed to build a great shop. It requires a bit of guile and a good plan, but the payoff is worth it. Through careful choices and good fortune, I was able to outfit my shop with a blend of new and used tools for around $2,000.
Great instructional! I built the bed of my 92′ Toyota pickup ext. cab the same way you did. I did some hard searching and found this camp pad, which literally fits the 40″ wide sleeping space perfectly. A few different mats from Exped will fit, but here’s the one I bought. Just thought you might like to know there’s an inflatable duo sleeping pad out there that works for your setup!
Ideas on how to Improve your Workspace – We can all do with some ideas on optimizing workspace. The guide has a lot of information about how to improve your workshop to be more efficient and improve workflow. This includes the costs of improving your shop, as well as hacks you can do yourself to improve efficiency and storage space for less. You’d be amazed at what you can do with even a small room. You just need someone to point you in the right direction.
While the recession brought with it a well-documented squeeze on small business lending from banks, there are a number of alternative funding sources available to those who are starting or expanding their small business. Loans and/or equity investments can be sourced from multiple sources, including credit unions, savings and loans, and private financial companies. Family members, friends, and colleagues are also potential avenues to explore.
A good starting point here is to write down two or three keywords that you think define your brand and then allow all your design choices to be guided by those words. For example, a local cheese shop could be organic, artisanal, and authentic; a wine bar could be sophisticated, 1920s, French; or a local specialty food store could be gourmet, helpful, natural.
When starting a small business, many store owners underestimate the value of a persuasive shop design. What they don’t realize is that people are visual creatures. In fact, 90% of the information transmitted in the human brain is visual. Clear, consistent store design will ensure that you attract your ideal customers into your business by delivering a subconscious uniform message.
We first obtained legal permission from Hasbro [which originally developed the Transformer toy line back in the 1980s] to build it late in 2015. I also had to obtain my commercial driver’s license (CDL), so I spent a few months learning how to drive a truck while simultaneously spending the winter of 2015-16 working with Western Star to piece together on paper a vehicle that mirrored the Optimus Prime truck. Once the factory delivered the truck in April 2016, we got to work on the customization and fabrication right away. It was roadworthy again by October 2016. So the entire process from start to finish was about a year.