Crafty Business Part 2: How To Set-up a Business
As promised, here is another post in the Crafty Business series. Just in case you want to take your craft or skills to the next level as a business, then you've come to the right blogpost.
We want you to be successful whether you remain a hobbyist or move on up to a entreprenuer, so we are offering our two cents and what has worked for us.
Today in this series, Tisa Taylor, creator of the blog www.simplytfashions, will tell us...
Now who doesn’t love money (Nobody I know)… Who doesn’t want money? (Nobody I Know) So why not monetize that sewing hobby!!! Right?? Right!!
Sewing for hire is one of those things that most of us get nervous about. Will the person like my design? Will it fit them properly? Are my rates to high? Are my rates to low? These are some of the questions that we all worry about when thinking about turning our sewing hobby into a business. I’m here to let you know…. It’s OK…these feelings are NORMAL!!!! If you didn’t have these concerns, I would suggest you continue sewing as a hobby. Making this transition does not have to be difficult, YOU CAN DO IT!!
Once you’ve decided you’re ready to monetize your sewing hobby you must first plan and research. Decide what your niche will be. Do you like making custom formal wear, or making pillows? Sewing for children or men’s tailored suits? It’s important to master whichever direction you decide you want to go!
Next, decide on what you want your business name to be. This is what your clients will know you by and eventually the WORLD!!
OK…we’ve done our planning…we’ve researched, we got our business name!!! Now you’ve got to register your business name with your state (registration process differs from state to state). You don’t want anybody else taking your business name…THAT’S YOUR BUSINESS’ NAME!!! So be sure not to skip this!! Once you’ve registered your business name Uncle Sam (IRS) wants to know.(BOOOO!!) LOL Your business needs an EIN (Employer Identification Number). It’s like the social security number to your business. This can be done by going to IRS.gov and applying for an EIN (Employer Identification Number).
ALRIGHT!!!! NOW WERE IN BUSINESS!!!
Let the fun begin!! Go to your local bank and open a business account and let the money start rolling in baby!!!
Remember, sewing is something you love. You want to maintain that love for sewing. Stay consistent with whichever direction you take your sewing business. That is one key to maintaining a successful business!!
I wish you much success and I know YOU CAN DO IT!!
Simply T Fashions
Great information, thanks Tisa!
To follow and subscribe to Tisa's blog, click HERE.
Next week, Laquana Drayton, of the blog Made By Laquana, will talk to us about balancing between business, hobbies, and everyday life . Stay tuned, there's much more!!
Love you to life,
I am not a certified business consultant. I am sharing with you what I know and what has worked for me.('&'
Thank you Tisa. Great info. Thx for sharing.ReplyDelete
Your very welcome Wanda!Delete
That's great encouragement Tisa!ReplyDelete
Thank you Elizabeth!Delete
Awesome information. I have all this done but the EIN number. Is it to late to get it. I have had my business name and business for about 15 or years?ReplyDelete
No, it's not to late. Go to IRS.gov and apply for your EIN. You should get it immediately. If not, they will mail it to you.Delete
Thanks for sharing. I will go and apply.Delete
Thank you Carrie!Delete
Thank you Alethia for allowing me to share this information!ReplyDelete