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kimmiedawn81
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Has anyone started their own business?
« on: Dec 1st, 2004, 12:49am » |
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If so, can you give me some tips about how you started it? I am thinking of starting my own massage therapy business when I get done with school in August. I know nothing about business. I need all of the help I can get.
Thanks,
Kim
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nani
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Re: Has anyone started their own business?
« Reply #1 on: Dec 1st, 2004, 12:54am » |
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I haven't had my own, but I've worked in many small businesses. My only advice would be to keep overhead down at first. Buy a table, some cds, oils,and go to peoples homes or work out of a spa or health club. What a great job! How exciting for you... 
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kimmiedawn81
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Re: Has anyone started their own business?
« Reply #2 on: Dec 1st, 2004, 12:56am » |
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OK, I have a table and I want to buy/start my own spa. What is overhead?
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nani
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Re: Has anyone started their own business?
« Reply #3 on: Dec 1st, 2004, 1:01am » |
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That's the money you spend on rent, utilities, labor, supplies, etc. The more you spend there, the less you get to keep. That's called Net Profit. Start to build a following of clients...they will go with you when you open your place. Network with other bodyworkers and later on you can rent space to them. Network with beauty workers, also. A full service salon and spa is the way to go. Eventually. Start saving some money now so you don't have to go into a lot of debt. When the time is right, you can go to the Small Business Administration for a loan. They are in the government and offer low interest loans for small business start-ups.
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kimmiedawn81
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Re: Has anyone started their own business?
« Reply #4 on: Dec 1st, 2004, 1:04am » |
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Unfortunately I don't make enough money to save. I need to learn how to start all of this up by August, so I have a little time. I'm headed off to bed right now. Thanks Nani! I need all of the help that I can get.
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pubgirl
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Re: Has anyone started their own business?
« Reply #5 on: Dec 1st, 2004, 1:10am » |
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kimmiedawn
Not sure what your tax laws are like over there, but start saving receipts for everything and anything now. If it is the same as over here, as far as the Tax man is concerned, my business ran at a loss for the first two years as you are allowed to offset all start up costs, even before the business commenced including anything like marketing, mail outs, any supplies etc etc. I could use anything for the full financial year BEFORE the business started, and then of course everything that came afterwards,
I save receipts for all manner of things that aren't even business costs such as all stationery and postage we ever use, taxman doesn't know who used it!
We have free small business advisors over here too and lots of associations for small businesses who are very good to talk to. There are probably similar things over in your country somewhere. It is definitely worth getting a good accountant too who knows about all the tax breaks you can take advantage of.
Have been running my own business for nearly 10 years now, and it is much easier than people think and miles better than having someone else rule your life, you just have to be brave kimmiedawn and do it!
Good luck, wish I could use your services
Wendy
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Kirk
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Re: Has anyone started their own business?
« Reply #6 on: Dec 1st, 2004, 1:12am » |
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First make a business plan.
Talk to a few of your classmates that are taking business courses to get an idea of what you need for one.
Look on the web for ideas on a business plan. The library etc.
That should be your very first move.
TTFN
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Melissa
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Re: Has anyone started their own business?
« Reply #7 on: Dec 1st, 2004, 7:16am » |
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on Dec 1st, 2004, 1:12am, Kirk wrote:First make a business plan.
Talk to a few of your classmates that are taking business courses to get an idea of what you need for one.
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Right, OR take a couple business classes yourself at your local Technical College. You'd probably only have to go to 1 or 2 classes a week.
Good Luck!
mel
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don
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Re: Has anyone started their own business?
« Reply #8 on: Dec 1st, 2004, 7:41am » |
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Quote:| I'm headed off to bed right now |
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Thats good because once you get rolling sleep will no longer be an option.
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Ruth
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Re: Has anyone started their own business?
« Reply #9 on: Dec 1st, 2004, 9:03am » |
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yes, I did 15 years ago, and you have gotten some very good advice.
You have to be very dedicated to what you do, it is harder to be self employed than work for someone else.
Try to keep regular hours and don't forget family and friends in your quest for success.
Good Luck
Ruth
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jimmers
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Re: Has anyone started their own business?
« Reply #10 on: Dec 1st, 2004, 10:17am » |
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If you have a lot of potential customers under your belt and feel that you can support yourself financially right from the start, go for it. If you don't, then maybe you might want to start advertising now for the future. i.e. flyers etc. indicating who, what, where, and maybe even a small discount for the first 100 customers and things of that nature. If the customer base that you have right now is small, maybe consider working in the same field part-time for someone else until you can build your customer base enough to go out on your own full time. And remember, approx. 48% of your money will go towards taxes. The trick is to try to use company assets for your own personal use, just don't get to crazy with it. Example, seminars that can be turned into vacations, gas for your car because you have to get supplies etc. Just don't make those costs be out of line with the company income. You have a skill! use it to the best of your ability, work hard and have fun. And there is nothing better than a good accountant to let you know what you can and cannot do. Best of luck!
Seeya,
Jimbo
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Lobster
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Re: Has anyone started their own business?
« Reply #11 on: Dec 1st, 2004, 11:03am » |
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1 == Insurance / Bond (if typical for your profession)
2 == Building a solid customer base sucks. Easier is to subcontract to another business, ie a health care or long term care facility, at least until you build up a recurring client list. Plus b-to-b relationships make for a superior resume.
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Charlie
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Re: Has anyone started their own business?
« Reply #12 on: Dec 1st, 2004, 7:21pm » |
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Not necessary but it doesn't hurt to talk to a legal eagle, even if only casually.
A real business? Not me. All I do now is ebay. It does pay my cable porn bill. 
Charlie
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| « Last Edit: Dec 1st, 2004, 7:24pm by Charlie » |
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Renee
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Re: Has anyone started their own business?
« Reply #13 on: Dec 1st, 2004, 9:23pm » |
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Quote:You have to be very dedicated to what you do, it is harder to be self employed than work for someone else.
Try to keep regular hours and don't forget family and friends in your quest for success.
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The above is easier said than done but, after 20 years of having my own business, all of the above still holds true for me.
Set realistic goals! Meet a goal and make a new one.
Get some R&R now. It might be years before you get it again!
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kissmyglass
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Re: Has anyone started their own business?
« Reply #14 on: Dec 1st, 2004, 9:42pm » |
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Kim,
If you don't know what overhead is I would sugest taking a few classes as someone mentioned.
Build up as many regular customers as possible before you open the spa....offer buy one get one free (or something like that) if you have to to get them to try your services. Free massage on their birthday ..ect...
Charlie, whats your Ebay name???? I spend 1/2 my life on ebay...
Kev
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kimmiedawn81
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Re: Has anyone started their own business?
« Reply #15 on: Dec 2nd, 2004, 1:04am » |
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Thank you guys for all of the great advice, I talked to a friend of mine who is an accountant today, he gave me some great advice too, and I am thinking of taking a business class. I need to know as much as possible. Thanks again everyone!
~Kim
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Donna_D.
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Re: Has anyone started their own business?
« Reply #16 on: Dec 2nd, 2004, 1:10am » |
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Try this!
http://www.sba.gov/starting_business/startup/guide.html
DD
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Superpain
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Re: Has anyone started their own business?
« Reply #17 on: Dec 2nd, 2004, 5:29am » |
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I own an audio visual rental service. But that's much different than what you are wanting to do...
First, weigh the pro's and con's of being an "established" business vs. working under the table, or on top of the table as it may be in your case. 
Is this going to be your only income? Do you want to make money on paper? Do you want to pay taxes on it? If so, after certification and/or licensing, get a business license and/or tax priveledge license. All of that is pretty cheap. For accounting and if you need to provide receipts quicken premiere is easy to use and effective.
If you don't need to necesarily prove income, provide receipts or want to pay taxes, get some business cards, a table, some cd's and candles, and use word of mouth.
But in the 3rd scenario if you want to be super legit, have a business location, employees, accept insurance and all that good stuff there's gonna be a bit more involvement.
My wife and I have a masseuse that comes over every thursday. Although I am normally working on thursday...  She has the table and oils and stuff, but we provide the music. I'm pretty sure although she is licensed that she is working under the table.
My advice would be to get a clientel base built from doing onsite work like that"unreported" and save money to someday become more established and legit if that so becomes your dream.
To start a business is not hard. To run it effectively might take some talents or smarts. Build your client base first though! Onsite is where it's at in your business and that means all you have to claim is what you want to or you need to. And that's a good thing!
Good luck!
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Chris
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kimmiedawn81
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Re: Has anyone started their own business?
« Reply #18 on: Dec 2nd, 2004, 1:03pm » |
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You guys are great! Thank you so much for all of the advice. I really appreciate it!
~Kim
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