Evan Tarver is a staff writer at Fit Small Business, specializing in Small Business Finance. He is also a fiction author and screenwriter. His past experience includes investment banking, managerial finance, and technology. When he isn't busy scheming his next business idea, you'll find Evan holed up in a coffee shop in his hometown of San Francisco working on the next great American fiction story.
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.

It’s important that you have a fundamental understanding of what is making your business successful before you decide to expand. Who are your customers and why do they enjoy what you offer? Who are your suppliers and will they be able to deliver to your new location? What are your operating costs and will they be the same in a new location? A lot of small businesses start off in the suburbs of a town before making the move to a city’s business district, only to find that unexpected additional costs are swallowing up their profits.


The time of the travel agent might be passing, but people are still looking for those with a knack for more nontraditional travel coordination. If you always plan the perfect vacations complete with beautiful hotels, the ideal location, and a bevy of delicious restaurants lined up for every evening, consider advertising your services as a more modern approach to travel planning.
If you are looking to sell your business, it is important to engage a lawyer who is a business specialist to ensure you gain the best possible valuation. A small business is valued by assessing the potential ongoing income from the business over the coming few years. Normally this means that a business will be valued at three to five times net revenues, which can present a potential issue for particularly tax-savvy small business owners. Remember that every time you write off an expense against your business, you are lowering the net margin of the business. So, that dollar you saved by writing off the expense could cost you three to five dollars on the valuation of your business.

A not for compensation nonexclusive arrangement, on the other hand, gives a tenant maximum flexibility. It’s nonbinding and there are no commissions negotiated. Instead, it gives the broker the right to speak on your behalf and schedule listings for you to see. However, while it provides flexibility, this arrangement gives the tenant broker less of a fiduciary duty.


In today’s competitive business landscape, the key card that small business owners hold up their sleeve is their ability to offer something distinctive, original, and personal. As small businesses grow, however, it can become increasingly difficult for the time-pressed, financially strapped entrepreneur to maintain direct oversight over every aspect of their store.
Hand tools offer the finesse and precision you just can’t get with anything else. There’s a sense of satisfaction you get from working the wood rather than machining it. After all isn’t that why you got into woodworking? Again there are a vast array of tools but narrow it down to a core range and you’ll have the confidence to complete a number of jobs.
Having a deliberate store layout is important for maximizing revenue for brick-and-mortar retailers. By setting a plan, retailers can strategically direct shoppers to high-priority products and drive impulse sales. An effective store layout also makes the space organized and easy to navigate, which is important for providing a good customer experience.
So keep this in mind when choosing fixtures and display units: The ultimate purpose of fixtures and display units is to put your products front-and-center. But at the same time, the overall look, styling, and finish is your biggest branding opportunity. Choose cohesive fixtures and display pieces that coordinate with your product collections but don’t overpower them, like the successful looks below:
I have different toolboxes for different jobs around the house. Occasionally I’d grab a tool out of one box and then put it away in another. Eventually all my flat-head screwdrivers would end up in one toolbox. To solve the problem, I now mark the handles of the tools and the corresponding toolbox with a band of colored electrical tape. Now all the tools are in the box where they belong. — Kim Litkenhaus Marino
Marc, I enjoyed the video. Thank you for sharing your dream shop with us. I would be interested in seeing a demo video on your Clear Vue cyclone dust collection system. Which one did you obtain & what type of duct work did you use (seamless?) Do you plan on enclosing the unit in a closet to reduce noise and keep dust confined? Do you have to purchase special expensive plastic dust bags for the drum? Is it hard to pull the bag out of the drum for trash collection? If you could address these questions in a demo video I would appreciate it. Oh, perhaps you already have one …. I will check out your video archives. Thanks again and keep up the great work!

Ultimately, the cost of your coffee shop starts entirely with you. Your coffee shop business concept plays a huge role in what direction you'll go in and what your budget will look like. So if money is an important consideration to starting your coffee business, review what kind of coffee business makes sense to startup at this point and time. We've recently written some articles on low cost ideas for coffee shop businesses.
Let’s face it, one of the most significant costs of your shop will be its foundation. While you’re at it, what about adding space above your shop? There may be regulations preventing you from building living space above your shop if it is in an urban setting or in an outbuilding, but there may be some flex­ibility depending on where you live. It is in the municipality’s interests to encourage infill housing that uses existing infra­structure. At a minimum, think about including attic trusses to create some space above your shop for drying lumber or storing equipment. Access could be from simple pull-down attic stairs or from the exterior if you don’t want to lose floor space to a stair or ladder. If you’re creating an addition to your house, you may be able to add a couple of rooms you’ve always wanted, such as a family room, office or in-law suite.

You can see in this step how I notched each rafter to fit more securely to the walls.  I also used a metal hurricane strap to secure each rafter to the wall.  Even though this was not required by code, I felt my tools were far to valuable to be left to chance over such an inexpensive solution.  The walls are a simple board and batten system.  The 1x3 trim covers the joints of the 4x8 OSB.  They make much more high quality sheets goods to use as siding.  However, the cheapest I found was $35 a sheet and the OSB was about $5 a sheet.  I sealed the OSB and painted it with exterior paint.  If I run into problems in the future, I can just add a second layer of more durable material or simply have siding installed.  It has held up very well over the past couple years and I see no need to spend more money on it now.
​Buying rough cut lumber saves a ton of money.  Buying lumber that has had all four sides surfaced (s4s) will cost roughly 4 times as much as buying rough cut lumber.  Let's look at an example: I'm going to build a table that will require 50 board feet of oak.  If I buy finished oak it will cost around $5.5 / bf or $275.  Alternatively, I can buy rough cut oak at $1.25/bf or ~$65.  In this one project I've saved $210.  That's enough for a new power tool.
We don't have a Dometic CFX-50 in our van, but we wish we had gotten one for our build. This is a great little fridge that many vanlifers happily own. It’s rugged and durable, and it keeps your food cold for less money than many of the other fridges out there. It also has a nifty side-open lid, which makes it a lot easier to open with a lower clearance.
If I had it to do over again, I would stick to an entry level miter saw and table saw until I had both the funds and need to upgrade to more capable saws.  Because of this, I'd stick to the two saws we looked at in the $500 build: ​The Craftsman Table Saw for ~$150 and Hitachi 10 inch Miter Saw for ~110.  These two additions bring our running total to just over $500.  
Use this model whether you’re looking to turn your team of one into a two-person shop or you’re hoping to build out your marketing department to a team of 10 or more.  By focusing on the skill sets your business needs to be successful — rather than on the resume of an individual candidate — you’ll ensure vital functions are covered while expanding in a sustainable way.

The first thing to understand about a business plan and financial projections is that the process of compiling them is often more important than the final product. Sure, the actual sheets of paper, filled with spreadsheets and graphs with pretty arrows pointing up and to the right are great — and can be very important in helping you to secure funding — however, when it comes down to the brass tacks of starting a successful business, it’s the process, not the paper, that counts.
This OXO palm brush really helps us conserve water while washing our dishes. We fill the reservoir with water and a few drops of Campsuds, and we only squeeze out what we need - so it takes care of both the initial rinse and getting our dishes soapy with minimal water usage. It’s also very compact, and the comfortable shape makes it easy to scrub dishes.
We use this fan for extra circulation when it’s hot, and to get the air moving when it’s cold at night and we have all the windows closed. We also keep it on for our dogs while we’re driving. There are cheaper 12V fans out there, but generally the cheaper the fan the more power it draws. The Endless Breeze is a great little fan, and it’s definitely worth getting for the added ventilation.
Nicole and I decided not to go public with the cost of the build. Although we are very open about most things, we are a little uncomfortable about making an expenditure of this magnitude public knowledge. Furthermore, unless you live in the Phoenix area and plan on building the same size shop with the same patio and with all of the same finishing touches and labor requirements, the price isn’t all that helpful to you.
“Just past the Decompression Zone is where you place fixtures known as Speed Bumps. These merchandise displays work much the same way as speed bumps in parking lots work—they slow customers down. They also grab their attention and introduce them to the cool product for sale in your store. Be sure to rotate the product on your Speed Bumps at least once a week.”
With all the time and effort you've put into properly merchandising your products, the last thing you want is for incoming customers to hurry past them — this ultimately limits the number of products they'll purchase. One way retailers combat this is through creating breaks that force them to pause. These are sometimes referred to as "speed bumps." Essentially, this can be anything that gives customers a visual break and can be achieved through signage or special/seasonal displays.
Garages are usually dark, which makes setting up task lighting a priority for a productive workspace. Track lighting is an easy option to install and gives your some directional overhead lighting, but it can cast shadows (especially if the light source is behind you while you work) and you’ll need another lighting source for task and overall room illumination. A simple, adjustable work lamp is helpful for soldering or when you need bright focused lighting.
Hospitality expert, Chip Conley founded and grew the Joie De Vivre hotels from a single San Francisco location to become California’s largest boutique hotel management company. How? He understood the value of a unique vision when it’s consistently applied. He created each hotel to reflect the spirit of a niche-oriented magazine that he felt represented his target market. Examples include the Phoenix (Rolling Stone), the Rex (The New Yorker), Hotel Avante (Wired), Wild Palms Hotel (Fast Company), Hotel Los Gatos (Town and Country), and the Water's Edge (Yachting). Obviously your inspiration doesn’t need to be a magazine, it can just as easily be a song, a group of words, or just a particular image. Find something that resonates with the customers you have in mind and design your store to reflect that vision.
If you are just getting started in woodworking and want to know what tools you’ll need to set up shop, you’ll want to download this free PDF from Popular Woodworking. We have put together a complete list of basic woodworking tools to kick-start your new hobby. In this free download, you’ll get our recommendations for the best hand and power tools for beginners. Buy these tools and you’ll have everything you need to make great woodworking projects.

Hospitality expert, Chip Conley founded and grew the Joie De Vivre hotels from a single San Francisco location to become California’s largest boutique hotel management company. How? He understood the value of a unique vision when it’s consistently applied. He created each hotel to reflect the spirit of a niche-oriented magazine that he felt represented his target market. Examples include the Phoenix (Rolling Stone), the Rex (The New Yorker), Hotel Avante (Wired), Wild Palms Hotel (Fast Company), Hotel Los Gatos (Town and Country), and the Water's Edge (Yachting). Obviously your inspiration doesn’t need to be a magazine, it can just as easily be a song, a group of words, or just a particular image. Find something that resonates with the customers you have in mind and design your store to reflect that vision.
Tim Inman: You don’t say where you will be located, but if you are anywhere that gets cold I definitely have a suggestion. I’ve built three shop buildings over my years. In each one, I’ve put down 2-inch closed cell foam board underneath six inches of concrete for the floor. I would never build a shop — or anything else, for that matter — without this. The foam lets the concrete become a huge heat sink and warming stone. My feet are never ever cold when I work on this combination. The shop stays reasonably warm without spikes in the heat and cooling. The tools are more rust-free, and I like it.
Make sure to utilize the tax-specific resources provided by the SBA and the IRS to fully research your federal and state tax obligations. These include, but are not always limited to: corporate income tax, employer tax and excise taxes. For most small businesses, the right first step is applying for an Employee Identification Number, which you can do using this IRS EIN online application. Depending on your state, you might also need to register for a sales tax license.
Since your business name is often the first thing potential customers will see or hear, think of it as one of your key tools for leaving a lasting impression. The right name, like a firm handshake, can play a role in your brand’s perception. So make sure it’s strong, catchy, and unique, but most importantly sends the right message about your business.
Before you bid in an online auction, check the site’s rules of operation. At some sites, a winning bid is a binding contract, which can be a problem if you can’t inspect the tool before you purchase it. Don’t forget shipping costs. In some cases they can exceed the cost of the tool. Also, make sure the tool you’re buying will run on the power you have in your shop. Many former industrial tools run on 240v single-phase power. If your shop doesn’t have 240v service, you’ll need to factor in the cost of upgrading before deciding to buy. You don’t want to saddle yourself with a tool you can’t use, no matter how good the price.

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.


When starting your small business, the easiest way to go about choosing a business name is to approach the task the same way you approach building new relationships. Did we lose you for a second? Here’s what we mean. It takes just one-tenth of a second for us to judge someone based on a first impression. There are endless relationships that instantly blossom or never get off the ground based off of this one simple fact. Most of us, even if it is on a subconscious level, understand this. Which is why when we meet someone that we are trying to impress, we make an attempt to adjust our appearance, body language, even the way we talk, to ensure we are putting our best foot forward.
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