I'm making an online reptile supplies shop!

[Carloscruz]

Okay, I’m 14 and understand the want to be independent, make some money, etc. But in Beman’s words this is a big undertaking. Just wait till your in high school or take high school credit it will get super stressful having a business and school. Your going to need ALOT of room to sell feeders and supplies. If you want to earn some money here’s some ideas. This summer I did this and earned $300 not much but it’s a start, I sold some pies in my neighborhood then had little cars handmade in the top with a logo name and number so people can order pies, it worked phenomenaly. When your 14 some places will hire during summer, in my state Starbucks and chicfila do. You can work as a apprentice for free under someone while this doesn’t sound fun you will get a lot of experience which is good for highly competitive jobs for say a vet. enjoy being a kid bc when ur older your going to have plenty of work to look forward too.

I agree

 

[Mountain Dragon]

Okay, I’m 14 and understand the want to be independent, make some money, etc. But in Beman’s words this is a big undertaking. Just wait till your in high school or take high school credit it will get super stressful having a business and school. Your going to need ALOT of room to sell feeders and supplies. If you want to earn some money here’s some ideas. This summer I did this and earned $300 not much but it’s a start, I sold some pies in my neighborhood then had little cars handmade in the top with a logo name and number so people can order pies, it worked phenomenaly. When your 14 some places will hire during summer, in my state Starbucks and chicfila do. You can work as a apprentice for free under someone while this doesn’t sound fun you will get a lot of experience which is good for highly competitive jobs for say a vet. If you want something animal related see if you can work as an apprentice under a breeder (once I worked under a dog breeder) maybe see if you can help clean zoo’s or maybe in a reptile store during summer. enjoy being a kid bc when ur older your going to have plenty of work to look forward too.

Cards*

 

[Snuits]

Gonna ask to sponsor it when it's done, for the name I'm thinking rad reptile shop idk tell me if you have any better ideas

Wow you go kiddoo. ♡ so proud of you. Gonna take alot of work. The cool thing is you will sell stuff that you know is fit for reptiles. Is your parents gonna help & stuff

 

[Coop]

You're gonna go far, kid. You have more passion and drive for the things you love than most kids my age or older. While there are legal concerns, income taxes, and the whole nine yards, this could be a huge opportunity. Having a full-fledged business, a YouTube channel, AND a book at 13 will look incredible on college transcripts. If you can keep up the drive you have now, along with good grades and volunteer hours, the world is going to be wide open for you.

 

[Thatcher]

Wow you go kiddoo. ♡ so proud of you. Gonna take alot of work. The cool thing is you will sell stuff that you know is fit for reptiles. Is your parents gonna help & stuff

Yeah a little and my uncle will help

 

[Thatcher]

You're gonna go far, kid. You have more passion and drive for the things you love than most kids my age or older. While there are legal concerns, income taxes, and the whole nine yards, this could be a huge opportunity. Having a full-fledged business, a YouTube channel, AND a book at 13 will look incredible on college transcripts. If you can keep up the drive you have now, along with good grades and volunteer hours, the world is going to be wide open for you.

Thanks!

 

[Klyde O'Scope]

IANAL, but I have been through the grist.

How will you organize?

Sole Proprietorship​

Partnership (with parent for legal reasons)​

Corporation​

C-Corp​

S-Corp​

B-Corp​

LLC​

https://www.indeed.com/career-advice/career-development/types-of-business

Is it legal for a minor to own a business in your state?

Got a written business plan?
https://www.sba.gov/business-guide/plan-your-business/write-your-business-plan

Capitalization? Whose money will be used, and under what conditions/restrictions?
Most small businesses fail because they are undercapitalized.
https://www.investopedia.com/articl...-most-common-reasons-small-business-fails.asp

Got a Lawyer or CPA to set it up? Not legally required, but highly advisable.

General Liability (Business) Insurance
https://www.sba.gov/business-guide/launch-your-business/get-business-insurance

In addition to income & business taxes, you'll also be required to collect & submit (yearly, quarterly, or monthly) Sales Tax, depending on amount of revenue. You'll need a certificate from your state.
Income tax may also have to be filed more often, depending on revenue

Will it be strictly mail-order, or will customers ever visit in-person?
If this is run out of your parents home, their homeowners' insurance may not cover liability for business purposes (if a customer gets injured on the property). This includes delivery persons.

Zoning variance—most communities will require a variance & permit to legally run a business out of a residence.

Commercial bank accounts (checking & savings)

https://www.sba.gov/business-guide/10-steps-start-your-business
https://www.usa.gov/start-business
https://www.irs.gov/businesses/small-businesses-self-employed/checklist-for-starting-a-business
https://www.businessnewsdaily.com/4686-how-to-start-a-business.html

On a personal experience note, get a copy of Customers for Life and read it at least twice, and yearly thereafter.

i dont like the irs

Nobody does, but if you have a business, you still have to file when they say even if you lose money.

 

[Klyde O'Scope]

Almost forgot... If the business hires any employees that aren't principals (depending on State), there may be payroll taxes, unemployment tax (State & Fed), disability ins./workers comp., FICA, other.
Most of these are deductible for the business, but can still be a PITA.

https://www.sba.gov/blog/how-much-does-employee-cost-you

 

[Thatcher]

just read through all that and I decided I think ill start with making a website because I don't think I could do all that on the weekends and after school.

 

[Thatcher]

actually im just gonna put out a bunch of yt vids to grow my channel then get into all this other stuff