I am trying to start my own hoop instructing business. I have no idea what I need to do to get things official. Anyone done the whole process before and have some insight??
Anyone have experience starting their own business?
Started by
Indigo Adventurer
, Feb 11 2013 04:41 AM
13 replies to this topic
#2
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- VibeTribe
- 6,444 posts
Posted 11 February 2013 - 03:38 PM
I am trying to start my own hoop instructing business. I have no idea what I need to do to get things official. Anyone done the whole process before and have some insight??
I have some experience as wife opened her own business.
The hardest part may be getting licensed by your city. Go down the L&I (License and Inspections) and ask them what you need to do.
Should be some fees.
Most import is the what and where. What are you selling and where is it.
#3
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- VibeGuide
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- 15,977 posts
VibeGuide
Posted 11 February 2013 - 03:48 PM
Lazy Lightening has been going through the start up process in MA.
http://www.gathering...usiness-owners/
#5
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- VibeTribe
- 287 posts
- Locationin the hearts and minds of many
Posted 12 February 2013 - 02:24 AM
I have some experience as wife opened her own business.
The hardest part may be getting licensed by your city. Go down the L&I (License and Inspections) and ask them what you need to do.
Should be some fees.
Most import is the what and where. What are you selling and where is it.
Hooping lessons for beginners, fitness classes (aerobic and 50+) wellness and healing with hoops (a program I am designing using hooping to manage stress and reduce anxiety) I am also a certified Reiki practitioner and could incorporate that into it, kids classes including "Mommy/Daddy and me" and hoop making workshops as well as hoops to take home and practice with. I was also thinking of setting up a mobile shop with tape, tubing and various other flow toys and accessories if I can get good quality at a wholesale price as there isn't really a local shop to get those supplies yet we have a huge demand for it. I am thinking I want to take everything I make and sock it away and maybe get a business loan to get my own studio. If there is anything else I could be doing or any feedback from anyone I am open to it all. I'm shooting for the moon!
#7
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- VibeTribe
- 7,581 posts
Posted 12 February 2013 - 02:33 AM
The easiest and cheapest way to get started is to set up a DBA, i.e., "Doing Business As", for yourself. Do a search on the laws for setting up a DBA in whatever state you live in, but this is far less complicated than setting up an LLC or anything else if you're a sole proprietor. It will allow you to set up a business name and from there a business checking account at very minimal cost. Typically, it's just a matter of filling out some forms at your local town hall to basically state that you are doing business under this assumed name.
Good Luck!
#8
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- VibeTribe
- 6,444 posts
Posted 12 February 2013 - 03:12 AM
Hooping lessons for beginners, fitness classes (aerobic and 50+) wellness and healing with hoops (a program I am designing using hooping to manage stress and reduce anxiety) I am also a certified Reiki practitioner and could incorporate that into it, kids classes including "Mommy/Daddy and me" and hoop making workshops as well as hoops to take home and practice with. I was also thinking of setting up a mobile shop with tape, tubing and various other flow toys and accessories if I can get good quality at a wholesale price as there isn't really a local shop to get those supplies yet we have a huge demand for it. I am thinking I want to take everything I make and sock it away and maybe get a business loan to get my own studio. If there is anything else I could be doing or any feedback from anyone I am open to it all. I'm shooting for the moon!
I would talk to a local or non local yoga instructors and how they set up their studio.
Sounds like a similar setting.
They may be better to help with the details.
Food industry, I now know enough but not everything on the city or board of health rules.
#10
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- VibeTribe
- 18,129 posts
Posted 12 February 2013 - 02:12 PM
you may already be a member.... but perhaps some insight or info could be garnered here:
https://www.facebook...opTroop?fref=ts
#11
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- VibeGuide
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- 9,985 posts
VibeGuide
Posted 12 February 2013 - 05:17 PM
if you are doing anything w/regards to fitness (or anything, actually) you need a good insurance policy. also better to be a LLC instead of a sole proprietorship in case someone hurts themselves and wants to litigate. with an LLC they can only ruin your business. with a sole proprietorship (dba) they can ruin your life. sorry to be a bummer, but that's a huge reality of owning your own biz!
#12
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- VibeTribe
- 287 posts
- Locationin the hearts and minds of many
Posted 25 February 2013 - 01:26 AM
well here is an interesting twist. There is a neighbor that has seen me hoop and his grandaughter is interested in lessons. I mentioned that I would be starting my own business as an instructor and our that our group gets together weekly (much to my advantage at another restuarants function hall- ie a competitor) but we have no place of our own to go and I want a place of my own to instruct but as it stands I have to hold classes by renting out time at a dance studio. After talking with me for a bit the conversation was left along the lines of "I like you, you're really intersting. Sit down and draw up some plans, facts, figures, how much it costs to make these (my LED hoop) and what they go for etc. We'll get together and discuss it over lunch at my restaurant (he owns a couple in the area)"
So this sounds to me like I might have a potential investor and I need to get to work on coming up with a solid plan to pitch. I'm so overwhelmed with this though, there is so much to think about and so much I don't actually know that I need to learn still. Anyone have experience dealing with investors etc?
#13
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- VibeTribe
- 4,449 posts
Posted 25 February 2013 - 03:42 AM
I, personally would not use anyone elses money to start "my" business. That just seems to be opening yourself up to a whole new ballgame. And, yes, if you are doing anything in the health/fitness category, you're going to need to be a "licensed a fitness instructor" first and foremost and then yes, insurance, insurance, insurance.....
becoming legit is a PITA to start, but once you start, it'll all fall into place. Just google it and go to your town and ask questions.
#14
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- VibeGuide
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- 41 posts
VibeGuide
Posted 25 February 2013 - 03:46 AM
if you are doing anything w/regards to fitness (or anything, actually) you need a good insurance policy. also better to be a LLC instead of a sole proprietorship in case someone hurts themselves and wants to litigate. with an LLC they can only ruin your business. with a sole proprietorship (dba) they can ruin your life. sorry to be a bummer, but that's a huge reality of owning your own biz!
insurance. LOTS of coverage.
piercing the corporate veil is easier than one might think.
