Wanting to start making and selling juice.
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It would be like starting any business. You'll have to register a business name and get a tax ID number. I don't know if you'll need permits, but will likely need a license. Try reading everything here:10 Steps to Starting a Business | Business.gov
Good luck!
Good luck!
Yes, it's still a business. The government doesn't regulate shoes, but on-line shoe stores have to have licenses and tax ID numbers. You'll also be supposed to collect and pay taxes on any sales within your own state. Even non-profits, companies that are not required to pay any taxes, have to file a tax return. All companies do.
I hate to play devil's advocate.. but here goes. It sounds like you really don't have much of a clue as to how to start a business. It's not as easy as it looks. The questions you are asking are business 101, the most basic topics. I would do a lot more research, maybe even go to a few semesters of business school before you make a foray into
your endeavour. At the very least adult education or night school.
Do you know how to mix e-juice? Do you have flavors that no one else has? You will be
entering into a market that is competitive and established. Although there is room for
new players you will need to have a niche, something special, something with an edge
over the competition.
I know I sound a little harsh, and in no way want to discourage you from entering this
business, but from what I read it looks to me like you have a long way to go. If
anything I want you to really think about it and consider everything that is involved
before you get hasty and excited and jump in blindfolded.
Best of luck.
your endeavour. At the very least adult education or night school.
Do you know how to mix e-juice? Do you have flavors that no one else has? You will be
entering into a market that is competitive and established. Although there is room for
new players you will need to have a niche, something special, something with an edge
over the competition.
I know I sound a little harsh, and in no way want to discourage you from entering this
business, but from what I read it looks to me like you have a long way to go. If
anything I want you to really think about it and consider everything that is involved
before you get hasty and excited and jump in blindfolded.
Best of luck.
I am in business school right now, undergad. They never have touched much on starting an e-business. I just do not know alot about e-business. Or the laws of a pure internet business. I do know how to mix juice and I have a stock of everything I will need. I'm just trying to figure out the legal issues involved in selling it. Also, I'm not planning on taking a big plunge, just start out offering a few flavors to see if they are accepted. If they are I might add some more product. So when it comes down to it, it's the product I'm concerned with and selling the product over state lines. I mix some good flavors, and I'm in school full time for one more year of undergrad, then three years of law school. So I have a lot of time to learn.
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E-cigs are a niche market right now, so unlike everything else you don't need a fortune for marketing... They're right in telling you to be VERY careful who does your processing and to monitor fraud concerns.
Business license this, red tape that, myself and probably a million people I've known have sold all kinds of everything without any of that on and offline for years. . . If you don't have huge visibility and don't do anything that is a criminal offense, don't worry about that nonsense
M********* the government and all of the crooks in it
Set up a little LLC and you probably won't have to worry any civil matters, either, far as I know.
They're right that you sound green.
But never let anyone dissuade you if you're dedicated, motivated and serious.
When I was twelve years old I thought I could hustle cable television. All of the "grown folks" with all of the "experience" laughed at me .. till I was this twelve year old child making more than many of THEM.
By the way... you're absolutely right to be concerned about mailing ANYTHING.
Mailing things is a BIG DEAL if you miss step!!!
Not collecting sales tax in your home state can be, sometimes, too.
Business license this, red tape that, myself and probably a million people I've known have sold all kinds of everything without any of that on and offline for years. . . If you don't have huge visibility and don't do anything that is a criminal offense, don't worry about that nonsense
M********* the government and all of the crooks in it
Set up a little LLC and you probably won't have to worry any civil matters, either, far as I know.
They're right that you sound green.
But never let anyone dissuade you if you're dedicated, motivated and serious.
When I was twelve years old I thought I could hustle cable television. All of the "grown folks" with all of the "experience" laughed at me .. till I was this twelve year old child making more than many of THEM.
By the way... you're absolutely right to be concerned about mailing ANYTHING.
Mailing things is a BIG DEAL if you miss step!!!
Not collecting sales tax in your home state can be, sometimes, too.
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Starting a business can be fun but expensive for all of the licenses, insurance, legal fees for setting up an LLC (limited liability company) and many other things, like paying monthly sales tax, quarterly taxes, etc. If it were me, I'd read and learn anything I could get my hands on before I did something. I think a great e-juice business would be an ideal business, but you have to consider the fraud aspect that you were told about. I think, if you are really interested in this, take the next step of gathering all info. You must do your homework, so to say, before you up and do something like this. My husband and I started a business a year ago buying a franchise from Aire-Masters of America, Inc. Look up the website as it's a fascinating business. Of course, I'm the one with the stack of paperwork, but we have also been blessed by God. Where other businesses are having trouble, we're growing. It's been a true learning experience to say the least. I'm not a bookkeeper, however, I can do quarterly taxes (taught by our CPA) and spread sheets. I wish you well, and good luck on your vaping!!!!! 
Since your in business school I'm surprised you don't know that ANY business needs a business tax permit. But they are free and easy to get. I have one, and I don't even have a business as of yet(just starting to compile resources). You would want one even if you don't need one because it enables you to buy wholesale(LorAnns won't sell wholesale without one). Also, in order to take credit card charges you will need to file a DBA, or ficticious business name. I have checked with my local business office and they were certain that you DO NOT need an ATF tax license for e-cig supplies, but your state may be different. You really need to do the basics first, but a DBA costs maybe $50 and a tax permit is free(at least here it is).
I am very green at this, I'm not claiming to have any real exp at starting any type of business. I just sit in a class and study what I need to know to get an easy business management degree so I can go to law school. I have been educated on what the different types of ownerships are and things of that nature but never on the exact steps of starting a business, especially online and with the product being so touchy. I just thought with all of the exp on this forum that people would have the info I need to avoid legal issues. Bottom line I dont want to EVER have to answer to the man for this. I want to do this for fun, not for big profit. I believe I can provide a good and unique product.
Wow, I had a one day course in small buisiness like 15 years ago and I learned more than your proff is teaching you.
j/k It really isn't very hard to get the basic requirements satisfied, the tough part will be creating a market basis in such a competetive small market. The reason I say that is because of the fact that most of the more popular suppliers are small upstart companies with a strong following, it would be very easy to get ignored. Also, you have to remember that just having a website doesn't mean anyone can find it. Most search engines charge for the priveledge of being findable. The ECF is only findable because of massive numbers of very well informed posts, which then meet any one of a number of search tags. A small website is very difficult to get noticed. A friend of mine is having that same problem w/ his business.
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You'll need a business license, insurance, incorporation (LLC), bank accounts, credit card processing, website, and a good business plan.
The insurance will be tricky and expensive, however with an LLC they can only attach the assets of the business. Not your personal assets.
Personally, I would wait to make a significant investment in going live as a business since FDA/court rulings could significantly affect your ability to do business.
However, my opinion here is from the standpoint of minimizing risk. There may be a value in getting in now. There will be a lot of competition after the fact assuming the FDA/courts don't swing the bat too heavily at our freedom.
Another option, might be to create a line of e-juice for resale by established vendors. That may be a horse of another color.
When I researched this, I found the market to offer pretty much every conceivable juice in huge diversity. It will already be difficult to differentiate the product in this environment.
It's not 2006 anymore.
Just jump in and do it! If you listen to the finance experts you'll never get started. Learn from your mistakes and don't make any decisions you can't reverse.
Set it up as a "hobby" with the Franchise Tax Board and estimate your sales low. Like you mentioned, start out slow, make a great product and word of mouth will get you by while you're learning.
Spend only what you have and don't go into debt. Let the business build on itself and you can close the doors any time you want and be able to walk away if you don't enjoy it. Grow based on revenue not dreams. Stay focused and have a good business plan that directs your growth.
Most of all have fun! There's plenty of room for new vendors in this booming industry and now is the time to take advantage of that. If e-cigs are banned you can either walk away or use your customer base to continue selling with some minor adjustments.
I say GO FOR IT!!!
Set it up as a "hobby" with the Franchise Tax Board and estimate your sales low. Like you mentioned, start out slow, make a great product and word of mouth will get you by while you're learning.
Spend only what you have and don't go into debt. Let the business build on itself and you can close the doors any time you want and be able to walk away if you don't enjoy it. Grow based on revenue not dreams. Stay focused and have a good business plan that directs your growth.
Most of all have fun! There's plenty of room for new vendors in this booming industry and now is the time to take advantage of that. If e-cigs are banned you can either walk away or use your customer base to continue selling with some minor adjustments.
I say GO FOR IT!!!
My best advice to you is to make an appt with a CPA that you know has a lot of experience with small businesses and start-ups. Get several referrals. It will be well worth the cost of a one hour appt to get your questions correctly answered. Different states have different laws and regulations. Save yourself a lot of headache and hassle. It's a lot easier to do things correctly in the first place than to try and undo a mess.
Keep it simple, an LLC (limited liability company) will give you liability protection but will not require a separate tax return if you organize as a sole member.
You may also want to keep in mind that it takes 3 years for most start-ups to turn a profit.
Good luck!
Keep it simple, an LLC (limited liability company) will give you liability protection but will not require a separate tax return if you organize as a sole member.
You may also want to keep in mind that it takes 3 years for most start-ups to turn a profit.
Good luck!
Sounds like you're getting great advice here! I've always wanted to have a business, but with my crafting items....ebay.....that sort of thing. That didn't work out for me as I can't sit and do anything for more than 10 - 15 minutes because of my disability. Repeating anything for more than 5 minutes is tough. But there are no successes without failures. Thomas Edison found hundreds of ways not to make a light bulb. Then, success! Now, we take electric lights as a 'given.' Read and learn from other's mistakes. Who knows, maybe this could be the time a light bulb works! Get the facts. If you're serious, you don't want to look back and think..."shoulda woulda coulda."
I agree with GoodDog.
Start out small selling it on the forums like Backwoods Brew does. If people like your juices they will buy them and spread the word about them. Once you get some sales under your belt and it seems like you could make a profitable business out of it then start expanding slowly.
Start out small selling it on the forums like Backwoods Brew does. If people like your juices they will buy them and spread the word about them. Once you get some sales under your belt and it seems like you could make a profitable business out of it then start expanding slowly.
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