business talk...

[Pimpdaddyq 10+ year member]

Call your state department of revenue.. let them know exactly what you'll be doing, where at, with who, etc.. and they will let you know what you are gonna have to have for a business, and what taxes etc..

At first I was told I had to have all this **** that was gonna cost me a shitload of cash to get to start out to be a "true" business.. but I called the IA Dept. Of Revenue and they got me my sales tax ID number free and thats all I had to get..

Worth a try..

Andrew

PS: Also.. I would buy like a grand in supplies and if your business does start working out, buy more instead of investing in thousands of supplies, not knowing if your gonna have anyone come in the door or not..

 

[Pimpdaddyq 10+ year member]

If you are legit and have a valid business license, you will be accountable for all of your revenue and taxes accrued.

See.. I was told I needed a business license, federal tax id, and sales tax id number.. and since I am the only owner, and live in iowa, Iowa doesn't require an actual license, and i can use my SS# instead since I am a sole prop.

I did need the sales tax ID number, but O well.. now im considered legit..

 

[DB_DRAG_SPL 10+ year member]

See.. I was told I needed a business license, federal tax id, and sales tax id number.. and since I am the only owner, and live in iowa, Iowa doesn't require an actual license, and i can use my SS# instead since I am a sole prop.
I did need the sales tax ID number, but O well.. now im considered legit..

Here in WV we have to have a business license, **** legislators!!!

 

[crunktimes.com 5,000+ posts]

Here in MA all you need is a DBA you can get at your local town hall (about 30-40/yr) or form an LLC (a few hundred). Personally I would start out with a DBA and then go to a LLC if you are doing good after 6 months or so.

 

[bigbangtheory 5,000+ posts]

I suggest what DB drag has mentioned. A lot of good info that he has told you. I don't know much being I have never invested time in my own business and what not, but have a few friends I help out from time to time in theirs. One guy owns his own car audio shop and another guy tints windows out of his van. So I like the van idea, but if you are building your own house, I say do that and build an extra bay and once you get some people under your belt and you do good work, word will spread. You could also do some local advertising and see how that goes. I am sure the jobs will become overwhelming and you will be cursing up a storm why you went this direction and then you will think about the money. I wish you best of luck with your future endeavor.

 

[Beerdrnkr 5,000+ posts]

First, start off with a feasibility analysis than work on a business plan of atleast 3 years. Find out about the competition around you, cost of supplies, and if you can find out how much an average tinter in your area is making that'd be helpful. Are you going to have a special niche? What's going to differentiate you from the other tinters around your neighborhood? Maybe you should see about portable window tinting for the convenience of your customers. In your loan you have to include salary for you to live for atleast 6 months as well.

 

[DB_DRAG_SPL 10+ year member]

First, start off with a feasibility analysis than work on a business plan of atleast 3 years. Find out about the competition around you, cost of supplies, and if you can find out how much an average tinter in your area is making that'd be helpful. Are you going to have a special niche? What's going to differentiate you from the other tinters around your neighborhood? Maybe you should see about portable window tinting for the convenience of your customers. In your loan you have to include salary for you to live for atleast 6 months as well.

I think he realized he doesn't NEED a loan. Everything he wants to do can easily be done within his current financial situation. No need to go that deep in the hole straight out of school. But you are correct in one aspect, he DOES need to do some market research and figure out his target demographic.

 

[Beerdrnkr 5,000+ posts]

I think he realized he doesn't NEED a loan. Everything he wants to do can easily be done within his current financial situation. No need to go that deep in the hole straight out of school. But you are correct in one aspect, he DOES need to do some market research and figure out his target demographic.

What's his current financial situation? I think he does need a loan.

 

[DB_DRAG_SPL 10+ year member]

What's his current financial situation? I think he does need a loan.

In no way does he need a loan, if he eliminates the option of renting a shop, even temporarily, and adding a secion to the house he is planning on building he has no need for a loan. He doesn't need 10,000 worth of materials, no need for 10,000 worth of advertising. He can EASILY start this business up for $5-7,000. Why owe someone money when he has the startup capital in the bank?

 

[Beerdrnkr 5,000+ posts]

In no way does he need a loan, if he eliminates the option of renting a shop, even temporarily, and adding a secion to the house he is planning on building he has no need for a loan. He doesn't need 10,000 worth of materials, no need for 10,000 worth of advertising. He can EASILY start this business up for $5-7,000. Why owe someone money when he has the startup capital in the bank?

Sorry, I didn't see that he owned his own house or how much money he had in the bank. Either way, it's always riskier having a home based business and making it a business type environment. Would his shed or garage include plumbing and all the amenities needed including a lounge area, I don't think he'd like everyone walking around his house and might make clients uncomfortable. How will neighbors feel about the traffic the business brings? You need to do a lot more research.

 

[Beerdrnkr 5,000+ posts]

PM me if you have anymore questions I'll be glad to help. I'm planning on starting up a business or becoming a franchisee soon as well.

 

[eli07 10+ year member]

Thanks you guys helped allot. Yea I realized I dont need a loan. I think I'm just going to order about $2500. in tint, and spend about $500. in advertisments and see how it shoots off from there. I have around $14,000. in the bank, have a $4,000.00 motorcycle I'm about to part with, and when I talked to my parents about the business idea, they were proud of it. She offered to get me a new Lincoln Ls I've been wanting for graduation. Even though my Altima only has 78,000 miles. So I'll have that to sell also. So I'm looking at around $25,000.00 in savings as soon as I get out of college. I think that would be plenty to get me started. I'm going to keep my day shift job from 7-3 at the local car wash. I'm line manager there and making $9 an hour, then about $40.00 a day in tips on average also. All in all I'm bringing home about $500. a week, and my girlfriend brings home about $2700. a month. I'm just going to finish up with school and keep working and saving for a house. And I'll tint windows on the side for now, to make extra cash towards our house. Thanks guys for all your input it helped me alot.

 

[crunktimes.com 5,000+ posts]

Sorry, I didn't see that he owned his own house or how much money he had in the bank. Either way, it's always riskier having a home based business and making it a business type environment. Would his shed or garage include plumbing and all the amenities needed including a lounge area, I don't think he'd like everyone walking around his house and might make clients uncomfortable. How will neighbors feel about the traffic the business brings? You need to do a lot more research.

That is how a lot of people start though, I would rather pay $25 a window and have to stand for 45 minutes than pay $50-60 a window and sit in a seat.

 

[bigbangtheory 5,000+ posts]

Sorry, I didn't see that he owned his own house or how much money he had in the bank. Either way, it's always riskier having a home based business and making it a business type environment. Would his shed or garage include plumbing and all the amenities needed including a lounge area, I don't think he'd like everyone walking around his house and might make clients uncomfortable. How will neighbors feel about the traffic the business brings? You need to do a lot more research.

Thing you seemed to also miss is that this would only be a starting point to go about. No sense in getting yourself over your head when you can learn the ropes at home. When the time comes than he would need a bigger place and what not, then not only would he have the money and more on how to run a business but expierience. I could see if he had cars lined up out in the drive way, but I am sure you would only schedule so many vechichles a day or what not.

Yes, he should have a bathroom in his garage and maybe a some chairs and stuff like that.

Will use the term "we all have to start out somewhere". Plus he won't have to get a loan, can use some of the money saved up to start off and can even do it on the side to see if it is something he would really want to go after. Why get yourself over your head?

 

[eli07 10+ year member]

First, start off with a feasibility analysis than work on a business plan of atleast 3 years. Find out about the competition around you, cost of supplies, and if you can find out how much an average tinter in your area is making that'd be helpful. Are you going to have a special niche? What's going to differentiate you from the other tinters around your neighborhood? Maybe you should see about portable window tinting for the convenience of your customers. In your loan you have to include salary for you to live for atleast 6 months as well.

I dont have my own house. You mis-read. I plan on building one. I'm bringing home about 2k a month, and my girlfriend brings home about $2600. a month. On top of our savings, my car and motorcycle I will both get to sell also. I was thinking of more of a travel around type thing. Advertise and I come to you to tint your windows.

 

[bigbangtheory 5,000+ posts]

I dont have my own house. You mis-read. I plan on building one. I'm bringing home about 2k a month, and my girlfriend brings home about $2600. a month. On top of our savings, my car and motorcycle I will both get to sell also. I was thinking of more of a travel around type thing. Advertise and I come to you to tint your windows.

I thought you said you were building your own house as in you paid for it already and just waiting for it to be finished.

Might be a good idea to get the van, materials (Which you said you have) and advertise some and I betcha you would get some hits.

There is a place locally around me that comes to your house and washes your car and goes as far as a detail for a good price and been around for a while now. I would try that and see how that goes. Good luck!

 

[Ignatowski 5,000+ posts]

Being your own boss is the best possible scenario in todays economy....And working for some scumbag wearing a suit in an office is nothing but a drag....

I started my biz in 2002 and we are very close to a million in annual sales starting from a 65K initial investment .....Your parents should be proud,most kids your age including myself were too busy smoking dope and trying to get laid all the while holding down a crappy low paying job and in debt.

I do think there are more profitable business's to consider - retail is tough,tinting is a product mostly that sells to kids,most of which are tire kickers (just look around this board)with low paying jobs but thats your call.......I would guess to make big money tinting you would have to sell to car dealerships and larger commercial type accounts because selling $75-$200 jobs you would need like 20 jobs a day to make some nice money (just a guess) and I don't see how you can do that in a day

Right now we are in a recession,between the real estate market, mortgage company blunders and the high gas prices its going to be a very slow start should you start in the next few months.......That can be good though,or bad depending how you read the marketplace.......

I would look into other biz opportunity's before you plunk down your life savings on a retail biz,Franchises are a great place to start - Thats what I did...

good luck,

Its good to be the king