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.
To simplify this process, hire professionals with experience helping business owners by assessing their needs, developing their budget, and negotiating their commercial lease. Managed by Q is a company that not only assists with pre-lease planning, but also provides help with renovation project management, space planning, and even administrative support. Managed by Q offers an array of services that can help save you time and money. Click here to set up a free account and get started.
The thickness planer can joint a board's face. On this simple jig, the stock is supported by twin rows of wood screws driven into a platform and adjusted to meet the varying clearances on the underside of the board. The stock rides the sled cup side up. Slide the board slightly sideways to adjust the screws, then seat it firmly on the screw heads for planing.
Sprinter vans have been around for awhile, but they’re still the new kid on the block. These vans are especially known for their interior height, long wheelbase, and boxier shape - making them ideal for building out a spacious, functional living space. This category includes the original Mercedes/Dodge Sprinters, as well as Ford Transits and Dodge Promasters (check out this article and this helpful graphic for more information on the differences between these).
You’ll want to consider your insurance needs both in terms of the potential frequency of claims against you and the size of the potential liability. You’re also going to want to think carefully about your assets and what you can and cannot afford to lose. A good rule of thumb is to always buy insurance if you can’t absorb the loss of a particular asset without dramatic effect.
Stop schlepping extensions cords across your garage floor. Make sure your workshop has enough power outlets to charge your tool batteries as well as power your corded shop tools. Your drill press or band saw shouldn’t compete for outlets with a charging drill battery, and you shouldn’t risk tripping over a cable that’s laid across your garage floor.
Make sure the room or building you are planning to utilize has sufficient lighting and electrical outlets to allow you to see what you are doing, and to work without excessive extension cords. You should also remember that many tools require a fairly substantial amperage to operate, so you need to make sure the wiring is capable of handling the loads. 20 Amp circuits will work for ordinary 120V tools, but air compressors and welders may require 40 Amp, 220V circuits.
In every aspect when starting your small business you should be mindful of making careful, prudent decisions about the allocation of your potentially limited funds — tracking precisely the cost of goods sold (CoGS) against sales to ensure profitability. Every dollar spent is tracked and accounted for, either as an essential cost of doing business (rent, employees, etc.) or as a cost of inventory that will result directly in profit.
Overall I am very happy with the final results and I can’t wait to get back to making sawdust. The first project to be completed in the new shop is going to be a Queen Size Platform Bed for one of my favorite clients. I mentioned in a previous post that one of my goals this year was to get back into doing client work and this is me making good on that promise. I can’t wait to get started!
The right first step online for most stores and restaurants is creating a Google Local Business Listing. Google accounts for 90% of all global organic search traffic and more and more of that traffic is coming from mobile devices. Chances are, your customers are using Google to find you, so you’ll want to make sure your hours, description, contact details, address, and images are all accurate.
Location, location, location is quoted so often for a reason. When starting a small business, the wrong choice could hurt your business before you’ve even had the chance to open the doors. Take the time to really understand your customers and do everything you can to gather real world insights that will help you determine the viability of your potential new space.
One example is testing your products and services for their desirability through ecommerce. It might turn out that your core product line will actually be much smaller than you originally envisioned. Equally, there are now a number of services (such as storefront.com) that will allow you to secure a pop-up lease in some incredible spaces, often for only days at a time. It might just turn out that your dream location isn’t as great as you originally thought.
For example: Imagine walking into a slightly weathered coffee shop on Main Street, middle America. It’s charming in its own unique way. You sit down to enjoy a cup of coffee as you skim through the tabletop jukebox. Then the bill comes. “$10 for a cup of coffee? In this rundown joint!” This might be what comes to mind if the price of the service doesn’t meet the expectations you had when you first walked into the business.
Aside from mechanical repairs, a mechanic’s toolset will help you loosen and tighten bolts - which you’ll need to do during the gutting process, installing your electrical system, and at many other points during your van build. This Crescent 170-piece tool set has all the essentials, including 6-point and 12-point sockets in ¼”, ⅜” and ½” - not to mention pliers, crescent wrenches and screwdrivers.
It’s also a good idea to cover up any exposed insulation or open stud bays so that you have a flat surface to mount stuff on the walls of your workshop. Here we’re attaching plywood panels to the metal framing but in most garages or sheds you can just nail them directly to the studs. We’re also getting a jump on organizing by putting in a hose reel next to the location we’ve chosen for our air compressor.
Hey Ted! If you mean to ask whether you could sit up from one of the vertical sidebins and have enough headroom under the Leer 122, I think that would be a no. You’d have to build the sidebins to be a little shorter. At least with my truck, that would be the case. Perhaps with a full-size pickup you would have enough room thanks to the overall size increase of the canopy as well.
If you have the available time, taking your DIY campervan for a test run (or two) is a great way to identify any problems while you still have access to tools, package deliveries, and a place to work. There’s just a lot that you can’t foresee until you live in your van. Taking it out for some short trips throughout your build will help you understand how you’ll actually use your new living space, what’s necessary, and what’s not.
Do you have 3 goals left? Great! That's the perfect number. Do you have more? That's okay as well. If you have more time to work on your business, then you may be able to accomplish more then 3. But it also depends on the type of goal you are trying to accomplish. I just recommend not trying to over achieve in fear of not accomplishing everything you set out to do.
Once you’ve got that, you’ll want to familiarize yourself with your tax obligations as a employer, including providing required employee benefits such as social security and workers’ compensation. As an employer you are also responsible for withholding federal and state taxes from your employees’ paychecks. What’s more, you are obliged to ensure all withheld tax is forwarded to the government within a defined time frame (usually a matter of days after the paycheck was issued). Failure to do so can result in a fine.
Food in bear country… When I was in *real* bear country, like in the Sierras, I always kept my food and scented items in the provided bear lockers. Any of the trail heads or camping areas will have bear lockers. Other than that I never really worried about. Just kept it in the cab, yeah. But the Sierras were the only place I went with any considerable bear problems.
You can also make your store comfortable by incorporating a waiting area with comfy seats and benches to encourage customers to spend more time in your store. This is especially helpful for shoppers accompanied by someone who isn't interested in making a purchase. But keep the seats or benches facing the merchandise so that they're still top of mind for those lounging around in your store.
We all know that we’re not supposed to judge a book by its cover. The truth is however, that it’s human nature to judge based on appearance. Though most of the time, despite our good intentions, it happens unconsciously. As consumers we make incredibly quick decisions about the businesses we choose or choose not to frequent. As we enter a location we take in the signage, the windows, and the product displays. And with the blink of an eye we determine a dozen different factors. Is this location trustworthy, clean, and friendly? Is the staff likely to treat me well? Will the products be to my liking? Will I find what I need and complete my purchase quickly? Can I even afford to shop here? And, perhaps most importantly: Is there something unique about this place?
I get all the zen I need from Dunkin Donuts. :) Actually, I am reserving judgement concerning sound at this point and here’s why. I worked in a 1000 sq ft shop for the first 5 years of this show and never had any echo complaints. That was with 16 ft ceilings. The new shop was pretty unbearable to talk in when it was empty and became quite tolerable when filled with the initial equipment. With the addition of the floor pads and cabinetry, I am pretty confident the echo will be reduced fairly close to the previous shop’s level. If not, I’ll have to consider my options, because there’s no way I’m hanging drapes in my shop, lol.
There are a number of woodworking fixtures you can get by without for a long while, but a sturdy workbench isn't one of them. The trouble is, those solid-hardwood benches we all lust after can completely blow a modest woodworking budget. Here's a bench that splits the difference. You'll get a top that can stand up to significant abuse, a sturdy, heavy base that keeps the bench planted where you put it, and an end vise and T-track system for holding workpieces as well as a variety of unique jigs. It may not look quite like a European bench, but it works just as hard as one for a lot less money.
When starting your small business, the type of business structure you choose will depend on three primary factors: liability, taxation, and record-keeping. Most small business owners begin their commercial life as a sole proprietor because it’s the easiest way to get started. In fact, if you’re in business and you haven’t taken any action to incorporate, you are most likely deemed a sole proprietor by default. You are entitled to all the profits of your business but also responsible for all its debts, losses, and liabilities.
Through my cabinet-shop connections, I managed a snappy deal ($200) on a used cabinet saw with a 54-in. commercial rip fence. That price would be hard to match, but it is possible to find a hybrid or used cabinet saw with a high-quality fence for $600 to $1,200. Some of them will run on 120v household current, meaning you won’t have to rewire your shop for 240v service, but be sure to check for compatibility before you buy.