YOU CAN MAKE MONEY!

Start Your Own

 

HOME-BASED BUSINESS

 

CHOOSE FROM 25 GREAT

BUSINESS PLANS!

 

by Cotter Bass

 

  

This publication is sold with the understanding that neither the author nor the publisher is rendering legal, medical, accounting, or any other professional counseling. The information contained herein is not intended to replace instructions by trained professionals. For advice regarding legal, medical, accounting, or other issues, readers are advised to consult an attorney, physician, accountant, or other appropriate qualified professional.

 

Trademarks, service marks, product names, or named features are assumed to be the property of their respective owners and are used only for reference. There is no implied endorsement.

 

The author and publisher disclaim responsibility for any adverse effects that may result from the use or application of the recipes and information within this book.

 

All rights reserved. No part of this publication may be reproduced in any form or by any means, electronic or mechanical, including photocopy, recording, or any information storage or retrieval system, without written permission from the publisher and author.

 

 

 

 

 STARTING YOUR OWN BUSINESS: THE SECRETS FOR SUCCESS

 

The American Dream is, and always will be, to come up with an idea, start a business, and become wealthy due to your own efforts. Based on this motivation, thousands of businesses fail each year, their failures due primarily to not being familiar with the basics involved with running a business.

 

This report will enlighten you and provide a number of suggestions you can use to guarantee your chances for success, but it also contains the warning that any and every business venture has certain inherent risks and any number of alternatives. We do not claim that any singular way is the right way or that our suggestions are the only way.   On the contrary, we advise that before investing money in a business venture, you should seek counseling and help from a qualified accountant and/or attorney.

 

Just about the first thing to consider, before deciding to start or purchase a business, is the legal form you'll be operating under. There are four choices: sole proprietorship, partnership, limited partnership, and/or corporation.

 

Each has a number of advantages and disadvantages. As much as anything else, for many people starting a business is a form of ego-gratification, and they form a corporation for some sort of prestige gain, often just to proclaim that, "I own a corporation."

 

With just a little observation, you'll find that one of the major causes of business failures is due to the founder wasting start-up capital on frills, such as an impressive storefront office, expensive furnishings, and corporate legal costs.

 

One of the basic traits you must develop if you're going to be successful in business is tight control of expenditures. In fact, a good rule of thumb is that anything that does not make money or protect your investment should not be purchased. This rule applies to the expense of setting up a corporation.

 

Unless you have a partnership and start your business as such, the only real advantage to forming a corporation is that a corporate structure will semi-protect the property you own.

 

As an example, you own a home and car. You form a corporation to protect these possessions from business losses. Yet, if you can be found guilty of misusing corporate funds, your business creditors can pierce the corporate shield and come after your possessions.

 

Basically, if you invest everything you have in your business, as most newcomers often do, you don't usually need a corporation because you have nothing to protect. Your household possessions, personal belongings (generally your automobile), and even a portion of the equity in your home is protected by the homestead provision of the Federal Bankruptcy Act and cannot be taken away from you.

 

As a sole proprietor or partner of a business, you'll be paying taxes on your overall earnings, much the same as if you were holding down a salaried or hourly job. Whether you do or do not receive money as a salary has no bearing on your business earnings income tax return(s).

 

The often-advertised advantage of incorporating, that you can manipulate your salary in order to save on tax dollars, is real because of corporation laws. However, the IRS frowns on this practice. When your business is successful and is making a lot of money, check with your accountant regarding the advantages/disadvantages of incorporating.

 

As a corporation, you'll be subject to a number of other drawbacks as well; generally higher state taxes, stricter laws concerning the operation of your business, more elaborate accounting procedures, and legal papers that are required just about every time you make a major move or sign a contract. As a result, your legal and accounting fees will be much higher as a corporation than for a sole proprietorship type of business.

 

As a sole proprietor or partnership, you'll find that most jurisdictions (municipal, county, state) require the registration of your business name. The cost is typically minimal, ranging from $5 to $100. The best way to determine which laws apply in your case is to call your bank and ask if they need a fictitious name registration card or certificate in order to open a business account.

 

Selecting a name for your business is quite important and particularly relative to advertising. Your business name should describe the product or services you offer.  Fancy names such as, Linda's Clipping Service will lose potential walk-in customers to the beauty shop across the street that calls itself Patti's Beauty Salon or Jane's Hair Styling.

 

The advantage of using your full name in the title of your business, such as Johnny Jones' Meat Locker, has the advantage of making credit somewhat easier to come by, providing you pay your bills on time, but it also includes the disadvantage of confining your services to a local or regional area.

 

Should you buy, lease, or rent space for your business? Think twice before you make a decision along these lines. With very few exceptions, most businesses tend to grow quickly or they never get off the ground.

 

Buying a piece of property and establishing your new business on or within that property obligates you to ownership regardless of what happens to your business.

 

Leases are almost always strong contracts written by attorneys to the advantage of the property-owner. When you sign an agreement to pay someone for the use of his or her space over any length of time, you're obligated to pay for that space regardless of what happens to your business.

 

In the beginning, it's wise to either arrange for the shortest-term lease possible or agree to rent with an option to lease at a later date. This does not apply to a retail business unless your particular business happens to be an untried one.

        

You should definitely open a business bank account. In selecting a bank for your business, scout around and look for one that will help you. Determine your banking needs and then telephone, interview the bank managers in your area. Be discretionary and don’t select a bank just because it is the most convenient to your business location.

 

And remember that the closer the relationship between you and the bank manager, the better your chances are for approval of loans and/or special favors you may need at a later date.

 

Try to become acquainted with as many of the bank employees as possible. The better you know them, the more courtesies they'll extend to you in the course of your association.

 

Just as a doctor is a specialist in his field, your banker is a specialist in his field and you should consult him about money problems. In business, you must learn that everyone is an expert in his/her own field and in your associations with other businesspersons,  you should refrain from acting like a sharpie, pretending that you know exactly how everything works in someone else's specialty.

 

You'll find that different often banks specialize in different types of businesses. As an example, you're sure to find banks that specialize exclusively in real estate transactions, export-import businesses, and even manufacturing operations. If you're planning to sell a fairly expensive item, your customers will probably need and/or want financing. It behooves you to select a bank familiar with your type of product that will afford your customers contract financing through your business.

 

Some of the questions you should ask of your banker include the following:

 

• Is it necessary to maintain a certain balance in your account before the bank will approve a loan for you?
• Which qualifications must you have in order to obtain a line of credit?
• Does the bank limit the number of loans, or types of loans it will approve for a small business?
• What is the bank's policy regarding the size of a check you might deposit that requires holding for collection?
• And what about checks less than that amount; will they be immediately credited to your account?

 

For almost all types of business, it is highly beneficial to set up a method of handling VISA, Master Charge, and regional credit cards with your bank. Ultimately, when selecting a bank for your business transactions, be certain to choose a bank that will service all of these credit transactions for you. In most instances, you'll find that having the capability to make sales and fill orders via credit card transactions will increase your sales volume considerably.

 

Once you've selected a bank, you'll need to provide your Social Security Number or you Federal Employer's Identification Number, your driver's license, a fictitious name certificate, and, if you're requesting a VISA or Master Charge franchise, you'll need a financial statement. For a corporate account, you'll need a corporate resolution approving the opening of your business account.

 

Nearly every state in the U.S. has different policies regarding installation and hookup charges by telephone and utility companies. Some telephone and utility companies require a deposit, some don't.

 

You'll find that a great number of city business license departments are there solely for the purpose of collecting another tax. Depending on the type of business for which you are seeking a license, the building and zoning department may inspect your premises for soundness of structure and safety. Generally, you won't encounter any difficulties; you simply pay a fee to operate your business and the clerk types your name onto a city license certificate.

 

Regarding sales tax permits and licenses, each state's rules and regulations vary widely.  Call your state offices and ask for information concerning registry and collection procedures. Many states require an advance deposit or bond and you'll find that some wholesalers or manufacturers will not sell to you at wholesale prices until you can show your sales tax permit or number.

 

Should your business entail selling products or services across state lines, or in another state, you're not required to collect taxes except in those states where you have established offices or stores.

 

You may find that your particular business requires the collection of Federal Excise Taxes. Check with the local office of the Internal Revenue Service for information regarding Federal Excise Taxes.

 

Some states require certain businesses to hold state licenses, such as those required for TV Repairmen. These are known as occupational permits and are most often required of barbers, hair stylists, real estate brokers, and a number of other consumer-oriented businesses. If you have any doubts, check with your state offices for a list of those occupations that require a license.

 

Any business operating in interstate commerce is subject to federal regulations, usually through the Federal Trade Commission. This means that any business that shops, sells, or advertises in more than one state is subject to these regulations and this includes even the smallest of mail order operations.

 

Normally, very few businesses have contact with federal regulatory agencies. The only exception is when a question arises regarding illegal or unethical business operation.  

 

Any business selling or distributing food in any form usually requires a county health department permit. If your business falls into this category, simply call the county health department and invite them to visit your place of business for an inspection. Fees generally range from about $50, depending on the size of your business when they initially conduct their inspection.

 

A number of businesses require inspection by a fire marshal and subsequent fire department approval. Generally, these businesses are those that deal with flammable materials or attract large numbers of people, such as theaters. Overall, the local fire department must be permitted access to your premises for inspection at any time.

You may encounter a requirement for an air and/or water pollution control permit.  These typically apply to any business that burns anything, discharges anything into sewers or waterways, or use a gas-producing product such as a paint sprayer.

 

Without a doubt, you'll need to consider local regulations regarding advertising display signs. Each city or township makes and enforces its own rules. Before you contract to have a sign or signs made for your business, check with the authorities having jurisdiction.

 

The design and placement of signs is very important, specifically for retail establishments. Your business sign is usually the first thing a potential customer sees and, as such, it should catch his eye and leave an impression that lasts. Cruise around your town and observe signs that catch your eye and attempt to determine the impression that sign leaves on you. This is a basic learning formula for determining design, size, and placement of your business sign(s).

 

If you intend to employ one or more individuals, you'll be required to deduct Federal Income Tax and Social Security payments from their checks. This involves filing for a Federal Tax Number and necessitates contact with your local IRS Office.

 

Most states have unemployment taxes which must be deducted from paychecks of employees. There are a number of states that have income taxes, disability insurance, and a number of other taxes. Again, the best thing to do is check with an office of the IRS. And above all, don't forget to ask for rules pertaining to the minimum wage law, and be certain to comply with each and every regulation.

 

When your business grows to the point of requiring additional help, don't be afraid to search for and hire the help you need. When you're ready to hire, simply run an ad in your local paper and/or register your needs with the local office of your state's employment service. Businesses either grow or die, and those that grow eventually need more employees in order to continue growth. When that time comes, hire the additional personnel you need and your business will continue growing. If you don't hire when you need to expand, you'll find your business growth stymied.

 

Regardless how small your business is when you begin, never initiate startup with the thought that it's just something to keep you busy. Your primary goal should be to start a business and make it successful in order to realize financial freedom. Establish your business, get it on its feet, and then hire others to do the work for you. For those businesses that require an operations manager, or someone to run a phase of the business you're too busy to handle, hire the individual needed or your business will surely suffer.

 

To protect your business investment you need business insurance. If you've never had experience with business insurance, simply look under the heading business insurance in the telephone directory. Ask for proposals from several different companies or agents.  Primarily, you should have a policy that provides general liability, fire, workers’ compensation, business interruption, and vehicle coverage. You may also want coverage against possible losses related to burglary, robbery, Life & Accident, Key Man, and Fidelity Bonds.

 

As sole proprietor of a business, you won't be paid as an employee, so there will be no income tax deducted from funds you withdraw from company earnings. Check with the IRS Office for a Tax Guide for Small Businesses Handbook. You will probably end up filing an estimated tax return on a quarterly basis.

 

The moment you open doors for business, you'll have to spend some time engaged in the task of bookkeeping. Exactly, how and using which forms, you keep books should be in accordance with recommendations of a good tax counselor. The same holds true for your overall business and/or payroll accounting system. Look for an experienced CPA who understands accounting problems specific to your kind of business and solicit his advice and counsel.

 

If your business will involve the possible purchase or lease of operating equipment, seek the help of your tax counselor for the most advantageous method of obtaining the needed equipment.

 

Arranging for your suppliers to provide materials on credit depends on your honesty and personal financial statement. Arrange a personal visit with the individual having power to approve or disapprove credit at the company where you want to establish a credit account. Show him/her your financial statement and explain your prospects for success.  Then assure him/her that you've always honored all of your obligations and that if there is ever a question or problem, you'd like for him/her to call you at home. Don’t forget to provide your home phone number.

 

We won't go into the exigencies of advertising your products, services or business here, but there is something along these lines you should always bear in mind: The best kind of advertising for your business you don't really pay for; publicity. When something unusual happens to you, your business, or your employees, that's news, so be sure you tell your area news media all about it.

 

The most important ingredient for your eventual success is the soundness of your planning when you first started your business. Any number of bad things can throw your business into a tailspin, but if you've done your homework well and developed a detailed business plan before starting, your losses or setbacks will be minimal. Success takes planning, and within this report, you've got a basic checklist. The rest is up to you!  Good luck, and may your new business venture succeed beyond your wildest dreams!

 

 

 

GARAGE SALES

GARAGE SALES

 

Promote Garage Sales and Make $500

In Just One Weekend!

 

Pick almost any city or town in the country, drive through any middle class neighborhood or residential area on the weekend, and you're sure to spot at least half dozen garage sales.

 

What's being sold at these garage sales? The accumulated junk people no longer use or want taking up space in or around their homes. Are they making any money with these garage sales? You'd better believe they're making money! It's not at all uncommon to make $500 with a weekend garage sale. Is it hard to put on a profitable garage sale? Well, yes and no. It really does take some of your time and it also requires knowledge of a few merchandising tactics. But the problems in operating a successful garage sale are small in comparison to the profits.

 

Who are the buyers, and how do you get them to come to your garage sale? Your customers are going to be everybody and you entice them to visit your garage sale with a little bit of advertising and promotion.

 

Everybody accumulates the kind of garage sale items that other people are searching for, and are willing to buy. These items range from no-longer-wanted or outgrown items of clothing, to furniture, tools, knick-knacks, books, pictures and toys. Many garage sale items are objects of merchandise purchased on impulse and later found to be not what the buyer expected or wanted. The buyer discovered too late that he really didn't have a use for it or no longer has a need for it. Many items found at garage sales are gifts that have been given to the seller but are the wrong size or incorrect choice for the recipient.

 

The problem with most people is that they haven't the time to gather up all those items just taking up space in and around their homes and staging a garage sale to get rid of them. Many people don't know how to stage a garage sale and many others feel that putting on a garage sale is just too much bother and work.

 

This is where you enter the picture. Your enterprise will be an ongoing garage sale of items donated and collected from these people who lack the inclination to organize garage sales of their own.

 

First, Educate Yourself. Spend a few weeks visiting the garage sales, swap meets and flea markets in your area. Find out what's being offered for sale, what people are buying, and how the merchandise is being sold. Generally, an item is tagged with a price but the seller is open to almost any reasonable offer from a prospective customer. Make a mental note of the way merchandise is displayed and how the customers are permitted to browse.

 

Start your own garage sale by cleaning out your basement, attic, closets and garage. Talk to your relatives and friends and tell them what you're planning to do, and then ask them for donations of no-longer used or unwanted items. It's here that you'll get your first experience in negotiating and subsequently developing an agreement for you to display and sell other people's merchandise for a percentage of the sales price. You'll find people explaining that they really don't have a use for a specific item or they really don't want to keep storing it, but because of sentimental reasons, they just hate to give it away.

 

Once you've had a little experience with this type of seller, you will be able to advertise in the newspaper that you buy garage sale items, or take them on consignment for a percentage of the final sales price.

 

It is best to have a woman handle the garage sale itself. She will greet the potential customers, show them around, and generally engage them in conversation. If it's a woman staging the garage sale, arrangements should be made to have another woman mind the store while she's out digging up more items to sell.

 

The advertising angle is really quite simple and shouldn't cost very much. Run an ad in your area shopper's newspaper for about three days in advance of and up through the day of your sale. Once you're operating on a full time, every-day-of-the-week basis, you'll want to change your ad schedule and the style of your advertising. But when getting started, go with small classified ads simply announcing your garage sale and emphasizing that you've got something of interest for everyone, everything from A to Z. To get ideas on how to write your ad, check your newspaper for a week or so. Clip all the garage sale ads you can find, and then paste them on a piece of paper. With a bit of critical analysis, you'll be able to determine how to write a great ad of your own by determining the good and the bad characteristics of the ads you've collected. Remember that the bigger and better your sale, the bigger and better your starting ads should be.

 

The secret to outstanding garage sale profits is having the widest or largest selection of merchandise.

 

Construct an old-fashioned sandwich board sign to display in front of your house when your garage sale is open for business. This will pull in your neighbors, if you haven't already informed them, and attract the people driving by. To attract attention and point the way, sandwich boards are often set out at key traffic intersections not far from the site of the garage sale (check local ordinances, if any, to determine if this is permitted in your area).

 

Many street and intersection advertising sign efforts fail to attract customers due to inadequate size and/or small and hard-to-read lettering. Don’t sabotage your garage sale efforts by placing illegible and unreadable signs. Garage sale signs should be distinct and legible from a distance of at least 50 feet.

 

Another sign idea practiced by a few really sharp operators is the old Burma Shave roadside pointers. Here, you simply take a few cute sayings in verse (or one-liners), painted on pieces of cardboard and tacked to power poles at about 200 yard intervals on a thoroughfare leading to your garage sale. This will create a lot of traffic for your garage sale all by itself! Simply visit the public library and check out a book on limericks, adapt the ones you find humorous, and start making signs. Before you do, however, be sure to check your local ordinances before you start nailing signs to power poles.

 

By all means, search out and use all the free bulletin boards in your area. It's preferable, and usually much more profitable, to take the time to make up an attention-grabbing circular you can post on bulletin boards rather than just using hand-written 3 by 5-inch card announcements.

 

Buy some transfer lettering, go through your newspapers and old magazines for interesting illustrations, graphics and pictures, and then, with a little bit of imagination, create an 8½ by 11-inch poster-type announcement of your sale. When complete to your satisfaction, take it to any quick print shop and have them print 50 copies for you. This should cost not more than ten dollars.

 

If you create this circular/poster with versatility and long-time usage in mind, you can use it over and over again simply by attaching a new time and date, pasting it over the original. Say you have a circular with a date of Wednesday, March 1st, and want to change it to read Thursday, July 16th. Rather than do the whole thing over, simply write the new date with transfer letters on a separate sheet of heavy bond paper, cut it to fit in the space occupied by the old date, and paste the new date over the old date. A good paste to use for this purpose is rubber cement. That's all there is to it - the printer does the rest.

 

Don’t forget to consider the free advertising opportunities available on the Internet including social media sites, free classified sites, and so forth.

 

Inside Secrets! Here are some inside secrets for drawing people to your sale and the merchandising gimmicks that will result in maximum sales and profits. First, call attention to your sale. Don't be shy, bashful, or self-conscious about letting everybody for miles about know that you're having a garage sale. Some sharp operators do the next best thing to having the Goodyear blimp overhead - they rent miniature blimps, send them up above the housetops, and tether them there on their sale days. Of course this giant balloon or miniature blimp has some sort of sign on the side of it, inviting people to your garage sale! This is one of the strongest available advertising ideas for pulling traffic to a sale of any kind.

 

Give your sale some flair! Place some posts across the front of your property and run some twisted crepe paper between them. Even better than crepe paper, run brightly colored ribbons. Invest in some colorful pennants and fly them from temporary flagpoles. And don't forget the balloons!

 

Make your garage sale a fun kind of event with clusters of balloons anchored to your display tables and racks. Be sure to float them well above the heads of your customers while they are browsing through your merchandise displays.

 

Cover your display tables with colorful cloths. Don't hesitate to use bright colors with busy patterns. Regardless of what you sell, effective display is essential!

 

Do not dump items haphazardly on a table and expect to realize great profits. The people doing the most business – and making the most sales - are the ones with interesting displays, action, and color.

 

Have as wide a selection of colors as possible in your clothing racks and mix them for a rainbow effect. Make sure that your jewelry items shine and sparkle. Arrange them in and with jewelry boxes, jewelry ladders and other items sold for the purpose of displaying jewelry while keeping items neatly organized. We know of one lady who regularly arranges jewelry items in a battery operated Lazy Susan. Jewelry slowly turning on the Lazy Susan never fails to draw attention.

 

Think about it. Study the methods of display used by rack jobbers in stores in your area. These are wire racks that usually hold card-packaged items. This kind of display rack lends itself beautifully for anchoring a cluster of balloons. Keep these things in mind and build your individual displays as part of the whole. Make your displays pleasing to the eye as well as convenient for your customers to browse and select the items that appeal to them.

 

Look for an interesting and unusual item to call attention to your sale; something you can set up or park in front of your home during sale hours. Some of the displays we've seen along these lines include a horse-drawn surrey, a restored Model T, an old farm plow. But anything of an unusual and interesting nature will do the trick. One couple we know put up a display using a manikin dressed in an old-time farm bonnet, long dress and apron. The display depicted a farmwoman of old, washing clothes with a scrub board and two steel washtubs. You have to believe this drew crowds and made people talk!

 

Impressum

Verlag: BookRix GmbH & Co. KG

Tag der Veröffentlichung: 24.02.2018
ISBN: 978-3-7438-5794-0

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For all who struggle to make ends meet.