Question for Business owners or accountants.?
I am planning to open a cart in a mall, i will be selling handicraft items.
So what type of co operation should i form, actually i will not be having any partners. so what u suggest should i file taxes under sole proprietorship or LLC. and can any one explain me step by step things that i will be needing to open this business.
thanks
i can guide you but I will start off saying that most of the carts
in the malls make no profit. Be very careful. Handicraft items
are slow sellers until more people get back to work.
find a business plan template and fill one out. Get back to me.
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i can guide you but I will start off saying that most of the carts
in the malls make no profit. Be very careful. Handicraft items
are slow sellers until more people get back to work.
find a business plan template and fill one out. Get back to me.
References :
biz teacher
You will need a local business license from the city hall your business is based in, usually under $100 and you need to open a business checking account. I do not advise you to open in a mall for many reasons by the biggest is overhead. I am a retired millionaire and started at the age of 17. I am 54 now and offer free advice, read my profile to see why. I would open up my own store on etsy.com which is only for handmade goods and a store on Ebay. You will have a world wide source of clients at half the mail cart price and not have to charge sales tax. Which involves you getting a sellers permit which is a big mess you don’t want to fool with. Also malls require a liability policy which you would have to get a price from a local agent in your area that writes small business policies. Anymore questions email me direct.
I forgot about your original question, you only need to start as a sole proprietor. Forget the Corp or LLC until you really get going. But think real hard about the mall, you will regret it I promise you.
Sincerely,
Val
References :