Wanting to start making and selling juice.

[Meggalette]

I currently run an online art gallery. I had to obtain a tax id number, which you can do over the internet for free in a matter of minutes. I have never had to create an LLC or obtain lawyers for anything. Although the product is different and you may need a license to distribute nicotine, the basic need, tax id number, is easy and free to obtain and I have never needed any other "paperwork" for my business.

 

[THE]

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!!!!!

Wow.. that is an interesting business, looks like..
It makes me think of that anti skid coating they sell..

 

[THE]

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).

You're saying that you need a tax # to have a merchant account?
Good to know.. I should have known that

I think you can get by without a DBA if you're using your real name.. at least, I know that you can here. When you are filing for your fictitious name statement .. if you're planning on building a brand, especially, make VERY sure you're not stepping on any toes... People who have similar business names

 

[THE]

I like this guy. Every time I read one of his posts I want to go re up on my prisonplanet.tv subscription.

Thanks?


I don't have alot of white collar experience. I can get into a suit when I need to and be the whitest guy you've ever met. But most of my experience is out on the street. Hard knocks, real deal

 

[THE]

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.

You make a good point I forgot to..
ANYTHING put into this business now must be what you can afford to lose 100%
We have NO IDEA of what the government is going to inflict on us as far as laws or regs

But don't forget that if they outlaw this stuff, the black market value will be high anyway, at least at first

It's not 2006 it's not 2001 this ain't gradeschool any more. .
In 2001 I could get out and make a grand in a day if I needed to ..
Now I'm out today buying three lawn mowers for $50 cause I can sell 'em for $150

There's a car I could go and get for $1200 that I could sell for $3000 but guess what I don't have the cash and it won't be there by nightfall ... It's tough and frustrating out here

And dig this, the money I DO have, I'm growing it.. But these idiots need so much that by the 20th or so I won't be able to keep up and I'll be zeroed out so .. Hell .. they need food, they need medicine, they need a car fixed, they NEED NEED NEED

Happens to the best of us
You sound like a very intelligent guy .. I know you said you got hard times right now .. but you sound like you don't have to have, for long!

 

[THE]

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!!!

Exactly... Business plans and overly reserved this and that is for big projects. Then you HAVE TO be .... and careful.. but when it comes to pulling the trigger on a small venture, JUST GET IT DONE

Cause you can only lose 100% (long as you don't do something egregiously illegal) and you stand to gain thousands of points

Same thing in marketing. You place a pile of different ads in different ways. Track them. The losers only lose 100%. The winners are a new stream of income and pay thousands of points back. Maybe indefinitely

 

[THE]

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!

Three years to profit is going to be when you've got significant capital investment .. If you have low low overhead and you're selling something with a decent margin .. it's pretty much instant money

As an aside... Anyone remember on the office when this temp guy was schooling Michael Scott things he learned in college? Michael was thinking oh son I'll teach you and the kid schooled him
That was hilarious!!!

That is another good point .. Learn from OLD PEOPLE with EXPERIENCE but adapt what they say to HERE AND NOW

 

[Latham]

A few of you brought this up and its the main thing I'm concerned with. Is there any red tape regarding nicotine distribution?

 

[LowThudd]

A few of you brought this up and its the main thing I'm concerned with. Is there any red tape regarding nicotine distribution?

Not that I have come accross. But I asked only about local law at the permits office.

 

[Saintscruiser]

Wow.. that is an interesting business, looks like..
It makes me think of that anti skid coating they sell..

Their system of odor eating, and it does eat the odors, not cover it up, surpasses anything I've ever used. My picky picky son visited before I quit smoking and he couldn't smell anything in the house. Now I'm going to use the technology to remove 90% of the tar from everything in the house. Yep, I can smell the stale odor from time to time. It'll happen one day!

 

[THE]

Their system of odor eating, and it does eat the odors, not cover it up, surpasses anything I've ever used. My picky picky son visited before I quit smoking and he couldn't smell anything in the house. Now I'm going to use the technology to remove 90% of the tar from everything in the house. Yep, I can smell the stale odor from time to time. It'll happen one day!

Sounds like a wonderful product/system .. Do you ever get any deals for big buildings or anything like that?

I'd talk to local land lords, go to some local real estate investor meetings.... Setting up larger accounts is a new stream of income every time. KACHING.

 

[sadoway]

this is forum is helpfull for me, but im in canada. i know its not legal to import nicotine over the boarders, and in Canada the market is very small still and most people here would rather order from here instead of taking a risk over the boarders.

 

[sadoway]

i wanted to get into making juices and selling in canada.

 

[THE]

this is forum is helpfull for me, but im in canada. i know its not legal to import nicotine over the boarders, and in Canada the market is very small still and most people here would rather order from here instead of taking a risk over the boarders.

Canadians use to buy the hell out of direc tv equipment I was selling back in the days there
It was totally legal for them to program their cards, I believe
Anyway they just loved direcTV

 

[sadoway]

i think its illegal to sell, but not to use it
i remember the guy we bought from got busted and slapped with somthing like a 100 000 dollar fine.

 

[THE]

i think its illegal to sell, but not to use it
i remember the guy we bought from got busted and slapped with somthing like a 100 000 dollar fine.

This one guy up there would always buy all of the cards I could come up with.. without haggling the price.. and the crazy fool would send me CASH in Fedex Letters ..... One time I got $4000 in a fedex letter

Crazy crazy ****

 

[DonKarnageTX]

congrats on wanting to start your own business,but aside from all the legal stuff im wondering what flavors do you have that i couldnt get anywhere else? and what makes your ejuice worth buying? im only asking because i look around efc and see people have their favs but what will set you apart from the rest to become a vapers fav juice?

 

[HexKrak]

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.

The important things I know. If you sell in your own state you must respect the local sales tax. You are not currently responsible for sales tax when selling to customers in states that you do not operate out of. There has been legislation floating around various levels of government that are attempting to change this. Other than that treat it like a brick and mortar location as far as business licences and permits for federal and state purposes. If possible, talk to someone else who's set up a business in your locality, and ask them for tips.

 

[ChristieM]

Forget taxes and what juices will set up apart from the competition. I want to know that your products have been tested for safety. This is after all a product I "take in" to my body. With the major suppliers, there seems to be reasonable history and track record for no one dropping dead or having major health complications.

I have a small business, and product liability is HUGE. I will not buy from someone that is just whiping up in their kitchen , a product I am putting in my body.

Not trying to discourage you, I am all for small business, but please do your time and research, this is after all a product that if made imprperly could really hurt some.
Sorry, just my 2 cents, fwiw.

 

[GoodDog]

Unless it comes from China probably 90% of the e-juice vendors here make it up in their kitchens and no one is "dropping dead".