Hello! I'm currently sitting in Afghanistan, finishing up my first combat
tour with the Army Reserves and I am planning my business. I plan to open up
a Luthier (stringed instrument repair) shop once I return from "the Stan." I
will be attending Luthier school as soon as I return and will continue to
pursue my BM in Music Performance (guitar) Fall 2013.
I just have some questions about starting up my business and preparing my
business plan. I am fortunate that my mom has a shop which I will be able to
run my business out of. (I'll take up a corner with its own door etc). I’ll
be the only one working there and will probably operate 4 days a week and
take appointments. Once I finish Music School and my schedule is more
flexible I may adjust this.
I'm just curious what type of business I should strive for, sole
proprietorship vs. LLC. I have researched both and am looking for some
personal experience to help me make a decision.
I don't expect to make "a killing" or anything like that. But I would like to
have a job that I enjoy that is flexible with my military schedule etc. Music
is my passion and it is my dream to work in this business.
I have a rough three year plan for the services my business offers.
Year One: Stringed Instrument Repair.
Year Two: Stringed Instrument Repair, Guitar Lessons, Possible Used Guitar
Sales.
Year Three: Stringed Instrument Repair, Guitar Lessons, Used Guitar Sales,
Custom Guitars (Acoustic and Electric)
I plan on setting up my business (filing the papers with the state) prior to
attending luthier school , in order to write some of the expenses off on my
taxes. I will be purchasing quite a few tools .
What kinds of things can be written off for a small business.? Honestly any
advice would be great! Thanks
DG
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healthdifference01@msn.com | Window Shopper |
12/26/2012 - 11:52 am
I am just getting starting on the planning for a NEW business I want to
start-up in my community. I know God has called me to give back to my
community through the things I will be able to offer in my sm business.
I was doing some research on line today ; looking for resources about how to
apply for small business loans, writing a business plan etc. I am so glad I
found this site.
So for those of you out there who have done it already where do you suggest I
start?
My business will involve providing whole foods, natural and organic foods and
personal care items, ( including freshly baked and prepared foods\sandwichs,
soups etc ) as well as food for the soul in the form of spiritual music,
books and home decor. I am hoping to find a small older home that needs
fixing up in the downtown area for my location, but migt have to rent or
lease space to bet started. I live in a community that is about 100,000
population; that nearly triples in the winter months, so I have high hopes
for the business to do well most of the year, and very well 5-6 months out of
the year.
I will more than likely have 1-2 business partners so will have to register
the business as an LLC, I think?
Any suggestions are welcome!
Hoping to make a healthy difference
JGabriel | Community Moderator |
12/28/2012 - 10:00 am
Show Replied Text…
I am just getting starting on the planning for a NEW business I want to start-up in my community. I know God has called me to give back to my community through the things I will be able to offer in my sm business.
I was doing some research on line today ; looking for resources about how to apply for small business loans, writing a business plan etc. I am so glad I found this site.
So for those of you out there who have done it already where do you suggest I start?
My business will involve providing whole foods, natural and organic foods and personal care items, ( including freshly baked and prepared foods\sandwichs, soups etc ) as well as food for the soul in the form of spiritual music, books and home decor. I am hoping to find a small older home that needs fixing up in the downtown area for my location, but migt have to rent or lease space to bet started. I live in a community that is about 100,000 population; that nearly triples in the winter months, so I have high hopes for the business to do well most of the year, and very well 5-6 months out of the year.
I will more than likely have 1-2 business partners so will have to register the business as an LLC, I think?
Any suggestions are welcome!
Hoping to make a healthy difference
In case you haven't already, check out some of our resources for starting a business. You'll find a guide to help you determine if you're ready, details about writing a business plan, and preparing business finances. Another approach that may be useful is talking to a mentor who could offer you specific guidance.
Well as a veteran you may qualify for veterans business services. These
services include loans and such, and are sought through the program "partiot
express." There are a number of resources available for veterans at
www.sba.gov. I am looking into some of them to start my own business. Good
luck both in and out of country!
Pierre A. Evans II | Window Shopper |
11/29/2012 - 9:58 am
The communication gap between getting started and wheather or not you have
been accepted to find were you are, so sometimes belonging to a proram is not
as easy going but the business can relate you to broughden your mind, soul,
spirt to innovate new idea's.
I am interesting starting my own business in real estate, i have two homes
and would like to invest them in homes for rent, through section8,and Hud
Housing Authority. Please give some advice as to "How to obtain finances to
fix the houses up for rental and purchase other homes to help individual with
home rental that could lead to ownership.
JGabriel | Community Moderator |
11/16/2012 - 10:42 am
Show Replied Text…
I am interesting starting my own business in real estate, i have two homes and would like to invest them in homes for rent, through section8,and Hud Housing Authority. Please give some advice as to "How to obtain finances to fix the houses up for rental and purchase other homes to help individual with home rental that could lead to ownership.
Hi, check out the business guide on housing & real estate which offers great advice on what you are interested in pursuing. Best of luck!
BizResearcher | Window Shopper |
11/13/2012 - 11:11 am
Though JGariel makes an excellent suggestion, you won't find a small business
development center or SCORE office in Afghanistan. I applaud your desire to
start your own business and the plans you have made so far. At this stage,
you may want to find out the cost of registering an LLC in your home state.
If it isn't too expensive, you might do that. Otherwise, you could begin as a
sole proprietor and then after you finish music school convert the business
to an LLC. As a single member LLC, you can elect to pay taxes the same way
you would as a sole proprietor, so the primary issue is the cost difference
between registering only a DBA and an LLC.
JGabriel | Community Moderator |
11/12/2012 - 11:25 am
Hi, a good place to start is with one of SBA resource partners: SCORE or Small Business Development Centers. These organizations provide free business counseling and training. To find your nearest SBA resource partner, enter your zip code in our local assistance guide. Another approach that may be useful is talking to a mentor who could offer you specific guidance. Best of luck!
joelbenton | Window Shopper | 12/27/2012 - 3:30 pm
healthdifference01@msn.com | Window Shopper | 12/26/2012 - 11:52 am
start-up in my community. I know God has called me to give back to my
community through the things I will be able to offer in my sm business.
I was doing some research on line today ; looking for resources about how to
apply for small business loans, writing a business plan etc. I am so glad I
found this site.
So for those of you out there who have done it already where do you suggest I
start?
My business will involve providing whole foods, natural and organic foods and
personal care items, ( including freshly baked and prepared foods\sandwichs,
soups etc ) as well as food for the soul in the form of spiritual music,
books and home decor. I am hoping to find a small older home that needs
fixing up in the downtown area for my location, but migt have to rent or
lease space to bet started. I live in a community that is about 100,000
population; that nearly triples in the winter months, so I have high hopes
for the business to do well most of the year, and very well 5-6 months out of
the year.
I will more than likely have 1-2 business partners so will have to register
the business as an LLC, I think?
Any suggestions are welcome!
Hoping to make a healthy difference
JGabriel | Community Moderator | 12/28/2012 - 10:00 am
lisadoer | Window Shopper | 12/19/2012 - 2:09 pm
Well as a veteran you may qualify for veterans business services. These
services include loans and such, and are sought through the program "partiot
express." There are a number of resources available for veterans at
www.sba.gov. I am looking into some of them to start my own business. Good
luck both in and out of country!
Pierre A. Evans II | Window Shopper | 11/29/2012 - 9:58 am
been accepted to find were you are, so sometimes belonging to a proram is not
as easy going but the business can relate you to broughden your mind, soul,
spirt to innovate new idea's.
margaret35543951@att.net | Window Shopper | 11/15/2012 - 12:19 pm
and would like to invest them in homes for rent, through section8,and Hud
Housing Authority. Please give some advice as to "How to obtain finances to
fix the houses up for rental and purchase other homes to help individual with
home rental that could lead to ownership.
JGabriel | Community Moderator | 11/16/2012 - 10:42 am
BizResearcher | Window Shopper | 11/13/2012 - 11:11 am
development center or SCORE office in Afghanistan. I applaud your desire to
start your own business and the plans you have made so far. At this stage,
you may want to find out the cost of registering an LLC in your home state.
If it isn't too expensive, you might do that. Otherwise, you could begin as a
sole proprietor and then after you finish music school convert the business
to an LLC. As a single member LLC, you can elect to pay taxes the same way
you would as a sole proprietor, so the primary issue is the cost difference
between registering only a DBA and an LLC.
JGabriel | Community Moderator | 11/12/2012 - 11:25 am
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