[Woodcarver] Business Plans?

[Joe Dillett]

Some info on taking Credit Cards. If you are like me and only take a few 
credit card transactions a year I recommend Retriever (877 479 6649). It 
costs me $5 per month and I get free check protection (which normally costs 
$5 per month). The percent is a tiny bit more per transaction but for the 
few credit cards I do this plan is perfect for me. They have the old knuckle 
buster machine and you have to call their 24-7 toll free line if you need to 
check to make sure it will clear. The check protection covers all checks 
written to me, business, rent and etc. for no fees.

Joe Dillett
The Carving Shop
645 E. LaSalle St. Suite 3
Somonauk, IL. 60552

(815) 498-9290 phone
(815) 498-9249 fax
http://www.thecarvingshop.net [business web site]
http://www.carvingmagazine.com ['Ask Joe' column]
http://community.webshots.com/user/joe_dillett
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----- Original Message ----- 
From: "Steve Nordhauser" <snordha1 at nycap.rr.com>
To: <woodcarver at carverscompanion.com>
Sent: Friday, March 27, 2009 1:19 PM
Subject: Re: [Woodcarver] Business Plans?



> Friends in Carving: Please support our List - visit the Carvers' Campanion 

> Shop at http://cafepress.com/woodcarving

>

>

> I'm helping my girlfriend start a craft business - I agreed that I would 

> focus on the business for a year before selling my own work.  I wouldn't 

> consider starting something without a rough business plan unless you 

> intend to keep it as a hobby and don't care about profits and cost.

> By business plan I mean an outline that says:

>

> -What I want to sell

> - How much I want to sell it for

> - Who I want to buy it

> - How I will sell it - galleries, shows, internet and what the costs are

> - Cost analysis - (selling price - materials-sales costs-overhead) /hours 

> = hourly income

> - startup costs

> - time commitment

> - what I hope to accomplish in 1 year, 3 years

> - list of risks (licensing issues, linked to current fashion, competition)

> - possible product variations to increase market and spread price range

> - display and booth equipment requirements

> - jury photographs - either take a class (our local craft center had one) 

> or hire someone.  These are as important as a sharp knife!

>

> - how will the bookkeeping be done?

> - business format (sole proprietorship, partnership)

> - sales tax collection

> - DBA, trademarking

> - bank account

> - taking credit cards

> - web site, brochure, business cards, artist's statement

> - insurance

>

> Paste that into Word, write a minimum of one sentence on each and try to 

> be honest. Goals of quitting your job in one year sound great but covering 

> costs is more likely.

> It doesn't have to be formal, but you need to know these answers.

>

> I'm finding that Microsoft OneNote is a great tool for keeping an 

> electronic journal for a startup business.

> I'm learning quickbooks, talked to my accountant, filed the DBA, have a 

> bank account.  I built the first display rack and we did our first show.

> We have our tax ID number for NY.

> I'm learning that small craft fairs cost $25-$50 to get in, the large ones 

> can be $200-$800.

> Mall shows look interesting.

> I still need to buy a canopy, folding tables and arrange credit cards.

>

> My advice is get someone involved who will do a lot of the business side 

> if you are not of that ilk.

> Steve Nordhauser

> "An idea is like a caged bird.  If you want to find out what it is, toss 

> it high into the air.  If it soars, it is an eagle.  If it plummets to the 

> ground, it is a turkey."  -Me

>

>

>

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