If you want to operate your business under anything other than your own personal name, you’ll need to register your chosen ‘fictitious’ name with the appropriate county or state authority, otherwise known as registering your “Doing Business As” (DBA) name. The correct filing authority varies state-to-state. The Small Business Administration (SBA) provides a helpful tool to help you find the relevant authority for your state.
Whether you plan to go it alone or hire a professional, there are many resources available to help you plan and execute your retail store layout. If you don’t feel comfortable tackling the project yourself, a professional retail store planner, interior designer, or display designer can turn your dreams into reality. Or if you want to handle it all yourself, store planning software and other online idea resources can make the job easier.
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.
Hey Melody, thanks for the email. I’ve traveled through some extremely humid areas (Central America)… I’m taking it that your canopy does not have a headliner? That in and of itself helps a great deal. Personally I would be hesitant to put holes or van roof vents in my cap, but that may be what you want to do. I would try sleeping with a portable personal fan first and see how that helps with the condensation issue. For me it worked wonders while sleeping in those hot and humid environments. I ran mine off the inverter connected to my secondary battery.
For the next step up in convenience, consider adding a dedicated beverage cooler to your workshop as well. Though many people set up an old refrigerator in the garage for extra soda and beer, a dedicated mini-fridge will help you save on electricity, since new models are far more efficient than old ones. You can pack your beverage cooler with your favorite soft drinks for a pick-me-up while you work or use it to store a lunch to enjoy on a break —all without tracking dirt and or grease into your clean kitchen.
If you dream of devoting your life to a cause you believe in, it might be time to start a nonprofit. You’ll need to incorporate your business and file for 501(c)(3) tax-exempt status -- and then you’ll be required to meet ongoing standards of compliance, but the payoff is making a meaningful impact on a cause you believe in. Want to do good while still making a profit? Consider social entrepreneurship.
As Kizer & Bender always tell retailers: Put it on paper. If you haven’t settled on your store layout—or even if you have—the first thing you need to do is work your plan out on paper before you start moving things around in your store. Putting it on paper helps give you a clearer picture of the desired result and any potential issues before getting started. Remember, many small retailers find that a mix of floor plan and layout styles works best.
Now if don’t have space for a dedicated workbench say in your garage you can build one that folds out of the way when it’s not in use. Simply mount a board to the wall to hinge the table on, then you can use some eye hooks and chain to support it. Now it won’t support a ton of week but it should be just right for a weekend project every now and then.
There’s a lot of blood, sweat, tears, and cash that goes into starting and running your own small business. One of the primary benefits of incorporating is that it limits the liability and risk of any losses your business may accumulate along the way. In other words, when you incorporate a business, you are typically not personally responsible for business debts. So if life happens and something goes wrong, as long as you and your business are not legally considered the same, your house, your car, and your goldfish are all safe.
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.
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.
The big advantage to buying a pre-built camper is that it’s already built out, so you won’t have to wait to hit the road. Many feature innovative ways to convert the living space into a sleeping area, and may even include a bathroom/shower. These vehicles should also have electrical, plumbing, propane, and water systems already installed (although if you want solar power, you’ll likely need to add this yourself). woodworking shop design