trying to figure it all out

[bullsfootball]

Ok I took a 6 week business course in my massage training and my instructor didn't like the subject so I feel like I don't know much more than I did going in. This year I have been working on clients and charging them. I will be finished with my internship June 2nd ( t038 YAY!!!) The thing is that I want to start my own business. That seems silly because basically I have, I just don't know how to do it properly. I do not have a name or a business account yet. I figure I will start out with a sole proprietership and eventually work my way up to opening a spa. Ambitious I know. I want to make sure I keep the appropriate records and everthing too. Do I need a tax ID# or something? If I do how do I go about that? I'm totally clueless, please forgive me, I need some serious help.

 

[Rizwan]

This might sound redundant, but start with all your required licensure and insurances. You can work as a sole proprietor under your own social security number until you are ready to do otherwise (incorporate, etc). Get your paperwork (biz cards, intake forms, gift certs, gift cert logs, policies, etc) in order. remember they can always (and probably will be) changed as you grow in experience and knowledge. (So, don't go hiring a graphics designer & go whole hog just yet - chances are you will want to change something very soon down the road - not worth the entire investment just yet). decide who your market is & be specific about how to reach it. Where will you work? Will you rent a room? Will you be an employee somewhere? Will you secure your own business suite & run with it?

Well, that's a start.

Good luck, and stay motivated & excited!
Jill/sagetherapist

 

[cocopop]

Great advice from Jill.

I have worked for myself for about 5 years. I use my SSN for my business and don't have a business name. I use "Professional Massage Therapy" as the heading on my brochures and business cards.
In the beginning I was just making my own marketing items. I have since ordered cards from http://www.printsmadeeasy.com/ (I like the interactive way of making the cards). The rest I still do on my own.

Once I am ready to move forward, I will get a business name and such, but for now this works for me and my business.

Best of luck to you!

 

[BWphotos]

Since your course wasn't very good, I suggest buying a book. There are many out there, but one good one is: "Business Mastery" by Cherie Sohnen-Moe. It was written for massage therapists, so it covers eveything you'll need. You can buy it used on Amazon for a little over $10:

http://www.amazon.com/gp/product/0962126543/qid=1146431782/sr=2-1/ref=pd_bbs_b_2_1/103-3834189-8367823?s=books&v=glance&n=283155

Other than that, my best advice is to prepare for taxes. If you've never been self-employed before, you're used to employers deducting taxes for you. You'll need to do that yourself now. Put a portion of all your earnings in a savings account, so the money will be there when your taxes are due.

Good Luck!

 

[k.webb]

Thanks y'all that is some helpful info. Blisss Thanks for mentioning the taxes, I had forgotten to deduct them. I actually went through the Business Mastery book in my class and I have some accounting and marketing college credits from another school. I just never got enough information on starting a business. I am confident I can run it well once its begun. I will feel better after this first year is over with and I will know more of what to expect.