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 Posted: Wed Jul 06, 2016 3:21 am
If you've read my other posts here, you'd know I'm the frustrated artist. emotion_c8 That being said, I enrolled at Shaw Academy for an online course (introduction to Graphic Design) but anyway, I think I might enroll to a business course next cause one of my goal is to put up my own business (hopefully a food related business, probably a restaurant)
Anyone here has an experience the can share? How does one start to go on about putting up a business anyway.. Also, anyone here thinking of starting their own? What type of business are you looking into? I'm also interested in stock exchange but that's another thing for another day.
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Posted: Wed Jul 06, 2016 8:13 am
Why study graphic design if you want to own a food business?
But aside from that... Yey!!!
I help run my dads business, it's small and does manufacturing, but I've found that it's not really all that difficult to start. You can do most of the applications digitally now, the real stress is the amount of money upfront that you'll need.
And Texas are hell if your not well prepared.
Get a good accounting program and a lawyer/accountant type person to help you work through it all.
But also, most restraints and food based businesses fail really early on. So be careful with what you choose to do and how much you invest.
Also... Don't go crazy and put your hat in too many rings at one time.<3
Stocks worry me.... Since I believe the system is due for a major overhaul. Too much risk for me.
I'd like to own my own business, but it's not a driving goal for me. I just think it'd be neat.
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Posted: Wed Jul 06, 2016 1:49 pm
I'm very curious person and an artist by heart? lol Thanks for the advice! I'll keep those in mind. I fear stocks too cause I think it's either win big or lose it all. As for me, I really want to own a business (successful hopefully) by the age of 30.
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Posted: Wed Jul 06, 2016 4:47 pm
I own my own business! mrgreen It's not exactly booming with success mind you, but that's beside the point right? ninja Anyway, what you need to do in general is visit your Secretary of State's website and file some paper work: first one I filed was something like Letters or Documents of Incorporation (something like that). There's also a document that needs to be filled out that tells what type of business (an LLC, INC, Sole Proprietorship, etc.). There's even a form to fill out stating that you will need a retailer's tax ID. It all varies from state to state, so I'd just first go to your Secretary of State's website by searching like Kansas Secretary of State website and from there you can research on the page itself for small business information. 3nodding Hope this helps and best of luck to you.
Oh and if you want to check out my website it's http://www.csproductionsllc.com
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Posted: Wed Jul 06, 2016 8:42 pm
I work in a retirement service center where we administer employer sponsored retirement plans-like 401k's and pensions.
I do not have experience with buying stock specifically (though if I had the desire, I could probably take a fair stab at it). But I know about retirement plans! And as a result, about mutual funds and IRA's.
Personally, I don't try to play the stock market, it does take a level of effort and commitment that I just don't have the interest in putting forward. I, of course, contribute to my 401k and do put effort into that.
Now, if you don't have an employer that provides you with a 401k-you can set up your own IRA (Individual Retirement Arrangement) with your bank. You can set 'em up with any place that offers 'em really, but I usually say start with who you know. Assuming you like your bank!
So you put money in (and that's a whole other conversation) and you buy investments with it. Some you can buy straight stock, but more common are mutual funds.
A mutual fund is like a pizza made with stocks (and sometimes bonds too) and you buy a slice. What that means to you is, even if the pepperoni on your slice isn't doing to well-your sausage and ham can be kickin butt and that means the slice still does pretty good despite the pepperoni. yum_pizza
If you want to know more, I can give lots more info about the ways you can contribute money to them, different kinds of mutual funds, what happens if you want to take money out, etc.
But I don't sell them or anything! So more specific questions like how much to set up and what investments can you choose, those questions you ask the person at your bank.
yum_cupcake
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Posted: Sun Jul 17, 2016 12:24 pm
Congrats on your business! Lots of paperwork then. I'm from Philippines so, I'm sure there's a LOT more paper work and payment to be made. Thanks for the advice! smile Those are interesting info and very new to me. I'd have to check if banks in Philippines offer that (they probably do lol).. I'm not bank savvy at all.. I have no idea about loans and stuff but I'm learning them as I go. Next time I'm in my country I'll be sure to check it out! Thank you! Very nice pizza analogy! whee
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