Start off on the right foot

If you you dream of successfully running your business, especially if you want it to become your sole source of income, you need to start it off right. Many people balk at the legalities of owning a business- licenses, taxes, and everything else that keeps you legal. You may be able to avoid these things for awhile, but if you want to succeed you must attend to these things. Below is a list of links to help you sort through what you need to so.

Business license- In the state of Washington it is fairly simple. You fill out the master application, which you can do online, pay a small fee, and you get your state tax license and trade name registration. This differs by state though, but the SBA (small business association) has a handy list for each state here. The only state missing from their list is New Mexico, so here is the link to their license information. the above link will take you to the information and filing instructions for your state. You may also need to register with your city or county. You can visit their websites for information, or pull out the government pages of you phone book and call your city and county clerk. Many times, cities and counties have discounted licenses for small home businesses and micro-enterprises, so even if they have the information on their website, you can save a lot of money by talking to a real person. This is going to cost some money, but it is worth it. For both my state and city license I paid $40, which isn't bad at all.

It is also important to register your trade name before branding yourself. It sucks if you have to change your name after having 200 business cards printed. You can register it on the state level usually when you file for your license. If not, just do a search of "trade name registration ". There is usually a small fee associated with it, in Washington it is $5. To register your trade name on a national level, you will have to apply for a trademark, which you can find more information on here.

Taxes- When you receive your business license, you will begin collecting sales tax. You will get an information packet from the state on when to pay your taxes as well as how much to charge your customers or taxes. I pay my taxes quarterly. You only apply sales tax to customers that reside or purchase from within your home state. The easiest way to always have the money when taxes are due is to deposit them into a separate account just for taxes. That way, you also earn interest on the money until it is time to turn over the states share. You will also pay taxes on your income. Here is a handy calculator to help you plan for these taxes. This will give you an idea of what to expect so you can plan accordingly and save money for it throughout the year as opposed to having to come up with a huge amount all at once.

Sites to answer all your questions-
Small Business Association (sba)- everything you need to start your business.

SCORE- this is an association of retired business people that supply low and no cost classes, help, and mentoring for your small business.

IRS small business center- your one stop for all the information on small business taxes and more.

Also, search your city for more resources. In Spokane we have SNAP, which is a community organization that offers free classes on starting your business, help with writing a business plan and securing funding for your business, as well as a business savings account where they offer you $2 for ever $1 you deposit in it. Your community may have something similar and it is worth looking into.

Morning Coffee 6-12

So much to do...My father in law gets here tomorrow, so no work really for four days! I don't know if that's a good thing or a bad thing, I've been really enjoying my new job as a full time artist :)

1) List some items in my shop.Done
2) One new advertising.Done, placed and updated Project Wonderful bids.
3)Work some more on my next cast so I can do it tomorrow and have it ready and waiting to go on Tuesday!Done
4)Blog post.Done
5) Make a list of local shops to approach on wholesaling.Not done :(

Morning Coffee 6-11

Happy hump-day! Yeah, I just like saying hump-day :) It is also the hubs birthday, so definitely going to spend some quality time with him! Today I am also volunteering at my sons school for field day, so I am going to lose a three hour chunk of my work day, but it's worth it. Time to get to work!
1. List some items in my shop.Done
2. start prepping the next cast.Done
3.One new advertising.Done, I have two Project Wonderful ads right now on different sites:)
4. Get a freaking tablecloth for my show table...I keep forgetting I need that!Done
5. Get some more vellum while I'm out , too, and finish that display.Done

Morning Coffee 6-10

Eep! It's already the 10th? How did that happen? My father in law is going to be here for a visit this weekend! Oh well, still work to do!

1. One new advertising.Done-ish. I am doing a guest blog (more details soon!), and I also have set up to start doing featured sellers here starting next Wednesday, which doesn't market me but spreads the love!
2. Drill and mount Saturday's cast.Done
3. Try and get a few photo's taken.Done
4. Finish off that display I was working on. Almost done, I need to get another sheet of vellum.
5. Work on some team stuff.Done

Here's a sampling of this weekends cast. Can you tell which one was a demo of my new design, to see how the resin worked with it?

This is one of my casting boards. I admit freely I stole the idea from John W Golden's wonderful resin tutorial. Because I don't pour into bezels (though his video really makes me want to try it someday!), I use it to keep my pieces separated and so they don't slide as much. If there is a spill, it will only ruin one row,instead of spreading across the whole board. I made these out of foam core board and chipboard. I didn't use the foam core for the dividers because it would have set up to high, but the chipboard works awesome!

Morning Coffee 6-9

Well, I did it again. I worked the weekend! Oops. Not too bad though, as all I did was finish up a cast I wanted to get done. We're going to be working on our landscaping today, so a short list today.

1. List the rest of my last batch in my shop. Done!
2. One new advertising. Working on a postcard size one page mini catalog to leave with shops I approach for wholesale.
3. research some craft markets. this is a process, but done! I worked on it today.
4. Work on one of my display idea's Done,it is looking awesome so far, I'll post pics when I am done!
5. Blog post!Done!

Terms of Engagement- Wholesaling part III

This is the final installment on wholesaling. You can read part I here and part II here. This time we are going to cover terms and invoicing.

You already have figured out your terms if you worked through the first parts of this series. Your terms cover your discount, minimum orders, payment methods and when due, shipping methods and charges, and any other information you find pertinent. They are written out in detail, and once signed by you and the company it will constitute a written contract. Here is a sample term using our imaginary widget company.

Wholesale terms and conditions
Widgets & Things Custom Doodads

Wholesale terms are extended to qualifying dealers at Widget & Things Custom Doodads sole discretion. Terms and conditions are subject to change.

Dealer Application
To establish yourself as dealer for Widget & Things Custom Doodads mail or email a signed copy of these terms along with a copy of your resale license and three (3) business references.

Minimums
Initial order- Minimum order of $200 excluding shipping.
Reorders- No minimum requirements for reorders/restock. For orders under $50 a small order handling fee of $5 applies.

Payment
Prepayment by credit card only. You may place a credit card on file to expedite reorders.

Wholesale Discounts
Discount is applied to suggested retail price. There is a 50% discount on Doodads and a 30% discount on Widgets.

Shipping and Handling
You pay actual shipping cost plus a $5 handling fee on small orders below $25 before shipping. There is no handling fees on orders above $25.

Shipping Methods
For US locations we ship via USPS Priority mail including insurance. For International orders we ship USPS international priority. For shipping times, please refer to the attached production schedule.

Additional Terms
We reserve the right to terminate this agreement at any time before payment is received. All Widgets & Doodads will be branded with the Widgets & Things Custom Doodads logo. At the time of your order we will confirm our current production schedule. It is your responsibility to confirm there have been no changes to the production schedule prior to any reorders.


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As you can see, the terms are simple and straight forward. Yours won't look exactly like this, but this is a good model to build yours from.

Invoicing is the final piece in the puzzle. If you process all your wholesale orders through Etsy, this step is more or less skipped when you post the reserved listing and you can print the receipt from Etsy to include in your order. If you will be invoicing outside of Etsy, I'll briefly cover the information your invoice will contain.

• Invoice number (This will help both you and the dealer keep track of your paperwork)
• Your name, address and phone number
• Date
• Name and address of the retail buyer
• Shipping address if different
• How the item is shipped
• The quantity sold
• A description of the item
• The price per item
• Price for the total quantity sold of a particular item
• Subtotal for all items listed
• Shipping charges
• The total amount due
• Buyer's signature
• Any disclaimers regarding returns or damaged goods

You will keep a copy of this invoice as well as giving a copy to the dealer who purchased the goods. If the buyer is out of your area, you may not require they sign the invoice, but you will keep their signature on file on the terms paperwork.

I hope this has simplified wholesaling enough to encourage you to try it as well. This is a wonderful way to make your small business sustainable for the long term. If you have any questions or comments, I would love to hear them!