Making Your Hobby Into A Small Business


Are you thinking about making your hobby into your own small business? Sounds like a good idea. Especially if you are excellent at the craft and people love your work. There are a few steps that you should do before jumping into it. Be sure you have done your research on the items you would like to market. Develop your business plan, create your logo and have a small savings to begin with. Also, keep up with today's newest world-wide-web marketing techniques in social media and email marketing to help your business thrive.

A small savings can help you with the costs of starting a business. First you need to think about how much money will you need to obtain a business name, then a Tax namber, money for supplies, and a place for the business. In Texas, one needs to get an ASSUMED NAME CERTIFICATE, commonly known as “doing business as or dba”. Most banks require it to open a business bank account. The Assumed Name Certificate is $13.00 in Nueces County for one owner, a sole proprietor. This certificate is good for 10 years from the date of filing. You will also need to pay the fee for notarizing the paperwork before the certificate is legal. The notary usually charges $10.00.

If you are selling merchandise, the state comptroller would like their share in taxes. So you will need a Tax I.D. number before you start selling under your business name. Follow the link to Texas State Comptroller website and read the instructions carefully to obtain your Tax I.D. number. Go to http://comptroller.texas.gov/taxpermit/

Additional supplies are necessary if you will be making and selling crafted projects. Be sure to stock up on supplies before you begin marketing and selling your projects. Try not to spend all of your savings on supplies. Usually stocking up on a few things to begin with works. Later you can buy supplies as needed.

Finding the right place to do business out of is very important because of the money you will spend on monthly rent. Plus, depending on the type of business, you may need to purchase an insurance policy for the area. I have learned that when beginning a business it is less of a burden if a place can be rented for the least amount of money. You have to take into account that if you are new to the business neighborhood, it will take a little time to generate enough income to pay your monthly rent. If it is at all possible, starting a home business is a great choice. It saves your pocket book.

Marketing the business yourself is one of the hardest things to do when you are beginning, unless you already have a couple of thousand people who are interested in buying your work asap. There are many ways to market your business online these days via the web. Social media sites are an amazing way to market your business. Here is a link to 15 of the most popular social media sites which includes Facebook, Twitter, LinkedIn and others. Go to http://www.ebizmba.com/articles/social-networking-websites. Building a website for yourself and printing the web address on your business cards is another way of advertising your business. Save money by going to Wix.com and starting a free website. They also offer premium plans you can pay for if you need to expand your site. Placing a guest sign-in book on a table during your opening art reception is a great way to collect email addresses. Email marketing is a great way to advertise your products.

Remember to save a little money before you start a business and learn how to market your products so that your business will thrive and continue to be successful in the future. Before you begin your business, do the research on obtaining a business name, Tax I.D. number and find a location for your business. Think of how the web can help you market your business and never give up on your dreams.

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