I know about getting stock, supplies, and such. But! I’m not gonna be breeding for at least 2 years, but I have a name I want to register. Should I do it before I breed? What about an LLC and trademarks?
There are a few things that you need to look into first and decide whether or not your business will actually make a profit right away or whether you should file your taxes as a hobby at first instead of a business.
Thanks so much!
Definitely think I’ll start as a hobbyist until I feel comfortable enough for a whole staff, building, and big stuff like that- thanks for helping me figure that out! I’ll have to call up my local city hall for information on permits and licenses on breeding/selling soon. Any other advice for someone starting out?
I would say be willing to ask and learn, that is probably the most important thing
Breeding whether you want to break even, make extra money. or make a living will require a plan (what to work with, marketing etc), capital investment, passion, vision, hard work, commitment.
It’s not something people can do for you, YOU must want it and do the leg work.
Absolutely! I think my only problem is getting the extra money to get racks/tanks and more snakes, but with time I know I’ll get the amount I need to start things up. I can’t wait to show everyone here in a few years what I produce. Maybe even make my own snake racks and display cages
That is awesome, looking forward to it
Sign up w accounts on any websites on which you might want to sell NOW. Folks won’t want to buy from the new guy. Even if you sell nothing between now and then, you will still appear to have two? years of experience…
The same thought goes for any website you might want to have. And you should have one. The older your site is, the better SEO works for you.
You can buy most anything, but you can’t buy time!
I’m just going to add this here. A few people got involved and gave some amazing ideas.
I heard that listing as a hobby allows the IRS to tax you more than if you were a buisness. It’s something I’m looking into.It appears that the IRS itself classifies you. I would love to hear how everyone else files their taxes in this regard.
Thanks for the advice! I’ll create a seller page on here later on but I’m making a Facebook, website, and I changed the name under my @ here!
Here is some information that may help -
- Setting up an LLC - https://startingyourbusiness.com/how-to-form-an-llc/
- Trademarks - https://www.uspto.gov/trademarks-application-process/search-trademark-database