Sounding board

[ladymoreta]

I like Shop, Style, Live. Reciprocity's ideas are neat, too. Something that's meaningful to you - for example, a ladybug reminds me of my grandma, so if I started a business, I might find a way to incorporate that into the name or logo. Is there something like that, or an old family crest or something?

[SoonerTexan]

For ideas about branding your business--this is the link I was talking about. I really like her content and ideas:

http://www.brandcampblog.com/

Otherwise, start here--a lot of it is state dependent, but this will get you to the correct links.

http://www.sba.gov/content/5-steps-r...-your-business

When you settle on a name, before you buy a domain:

A. Google it in general to make sure there isn't a big conflict, even if the business is in another state or Industry. You don't want to compete with that.
B. Check your state's registry to make sure no one else has taken it
C. Register your DBA (Doing Business As) and whatever else is required for your state/county

Before you register, make sure you REALLY want to do this. Registering is a PITA, but I don't want to know what it takes to undo everything you have done:

Pick a business structure: Really do some good research on this. Sole Proprietorships are easier tax-wise, but an LLC provides more protection in case of a lawsuit. With a sole proprietorship, your personal assets are fair game in case you are sued. Seems crazy, but if Grandma trips during a photo shoot, I have to worry about it--probably not as big of a deal with interior design, but you never know. You might look into what insurance is common for your industry, if any. I went with Sole Proprietorship, but with an attending husband, you might consider this a little more. Make sure you understand all the ramifications--a coworker told me yesterday they are being audited because her husband was an idiot about choosing an LLC, didn't do the taxes right, and voila...an audit!

Taxes: You'll also have to set up taxes...you don't necessarily NEED a Federal Tax ID (I don't for whatever reason--I cant remember if it is because I don't employ anyone or for another reason, but I did do research on it). You will need look into registering for state and local taxes. Remember, you cannot sell anything without paying taxes on it...this includes services such as consultations. Check with your local laws on this--it gets VERY finicky. I have to file my sales tax forms on a quarterly basis, even if I don't sell anything during the quarter. You can sometimes get this changed to a yearly file, but I'm not sure of the process.

You are also responsible for paying sales tax ("Use Tax") on anything you buy that is not charged taxes. This includes any online purchases, depending on whether or not your state forces online retailers to charge you sales tax. Amazon.com is a big offender. Technically everyone is responsible for this, but you need to make sure you do it for any business purchases. If your website provider, domain registry, etc. doesn't charge you taxes, you have to include these as well.

Don't be afraid to contact your State's comptroller's Office with questions. In Texas, they actually do tax seminars every couple months to answer questions. I almost went to one, but figured it out by myself. It is ridiculously confusing and I had to do a lot of research.

Banking: Open a business banking account--this is how I keep track of my purchases. I've been happy with my Chase account...no fees since I have a regular checking with them. It comes with a Check card so buying stuff for my business is easy.

Bookkeeping: I keep a spreadsheet of all my sales/purchases, etc. You can use Quicken, too. It was overkill for the amount I'm doing right now.

Website: LadyM & others are right...this is a big deal. However web design is NOT CHEAP! There's a reason I'm having a friend design a logo and I'm working off a template. I priced out a custom website/logo design at $5000. I'm not ready to invest that much, because it isn't a full time gig for me and we don't have a whole lot of cash flow right now. You'll have to decide for yourself if it is worth it for you.

The cost of my website is:
$300 template (was on sale 50% off)
2 sushi dinners--logo design (that would be the vagina logo--made progress on that, by the way)
$100/year hosting
$100/year proofing site.

Even designing your own logo can get tricky. I used a free font, but I had to make sure I wasn't supposed to pay the creator. "Better" fonts can be $100 or more for a commercial license. You even have to pay licensing fees if you use someone's music on your website.

Even DIY can add up quickly, and I've been unmotivated to get it going lately.

So basically, no matter what it is going to cost you something to start a business legally...don't jump into it and invest until you are really really sure what you want to do. If you want to apprentice or do work for free, you don't have to have a "legal" business. You shouldn't really have a live website without registering, though. Technically, the photography I was doing while I was in college was illegal...I was just clueless. I wasn't generating much and a lot of it was free, so it isn't a huge deal, but not operating illegally is the quickest way to piss off others in the industry.

Right now, I've definitely spent more than I've made, but that is largely due to the pregnancy and the current "busyness" of my real job. Once you get it all set up, keeping up with the quarterly sales tax, etc. isn't too horrible. However, things change if you hire employees!

What I've talked about is only the tip of a massive bureaucratic iceberg and based on my experiences in Texas. Honestly, getting the paperwork in isn't that hard or expensive...it's figuring out WHAT you have to do to be legal that is! If you can apprentice for someone who can help you out, I'd definitely go that route first.

[SoonerTexan]

And most of all...good luck! Let me know if I can help.

[Vishenka69]

Thank you so much. This is extremely helpful.

Thinking along some neutral, short and catchy lines, what about Autumn Decorating or Firebird Interiors?

[Phoebe]

I don't have a creative bone in my body to be able to add anything, but it really sounds exciting!

And make sure your logo doesn't look like a vagina.

xoxo ST - I couldn't resist.

/end unhelpful post.

Sorry I am late to catch onto this thread, but if you have any questions about small business startup I would be happy to help. My degree is actually in interior design, so have a background there to. The economy has really hurt the field but I think adding staging to plays right into what people really need. One idea I had a while back was design in a day. Offering a full day of design services to assist a customer n moving furniture, shop, pick out furniture, pick out paint etc. The commitment is only a day...if they want extra help you can charge by the hour, but this offers design to people who may not have been able to afford a full on decorator. Anyways...just an idea!

Please email me if I can help with anything! Kelly@themerrymartini.com

[Vishenka69]

Lost steam, need a good kick in the butt to keep going. I find most of the resources (such as the books I ordered from Amazon) to be outdated and not consistent with the direction I want to go. But at the same time I don't know how many ppl in this are will "get" my direction. So I'm torn between standing out and being too out there. Thanks for listening.

[ladymoreta]

Have you talked to the other decorator you mentioned? Maybe shadowing her for a couple days will give you a little more idea about what you need to focus on next?

[Vishenka69]

Haven't called her yet. Haven't been feeling good for the past two weeks and want to bring my "A Game" when I meet her.

[Vishenka69]

What do you guys think of Envied Home? It's one of the names my marketing friend came up with. Would you be interested in having/living in an Envied Home? Does it work for both staging and decorating?

[MrsK]

I like the concept. Other thoughts along those lines... "Welcome Home" (as in a home you want and in which others feel welcome, I especially like this for home staging. Walk into a for sale home and think welcome home!), "Desired Home" or "Desired Living" (assuming you will decorate areas that are not residences), I'll keep thinking.

[GreyhoundsRUs]

Like MrsK - I like the concept. I have a negative association with the word "envy", though.

[ladymoreta]

I like it!

[HouseofWool]

If you are sticking to just living spaces, what about "house to home"?