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#1 |
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Senior Member
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hey guys,
been seriously considering here lately starting up my own import performance business online and running out of my house. it would just be something i did on the side unless it got real successful and then id dump more time into it. when i say on the side you have to realize i spend about 8 hours a day on my comp already, any and all of which could be used on the site. i figure i have enough contacts on and offline that i would be able to run a pretty solid/stable business. and of course my hondaswap homies would get a sick hookup :P my brother has his own website design business and i had 3 websites in highschool, so that part of it is taken care of. im just wondering what all i need to do about contacting companies, getting vendor and tax exempt licenses and all that bs. i know B was looking into this and jason from ALLJDM could prolly give me a few pointers (though i havent seen him around lately). i would appreciate anyone with any kind of advice though. been wanting to do it for quite some time and have been thinking about it more and more recently. thnx in advance __________________
god called in sick today |
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#2 |
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Senior Member
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The first thing you need is a project car for your company that can really wow the market! I'll let you use mine but you really should aim for no less then 400whp if your serious about it.
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Did I just say something interesting or funny? Check out my blog for more... http://campassmore.wordpress.com/ |
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#3 |
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Chicks dig the box
Join Date: Sep 2002
Location: Tucson, AZ
Age: 25
Posts: 4,781
iTrader: 0 / 0%
Ride: 2006 Scion xB
Rep Power: 92
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i didn't think you could operate a business out of your residence?
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i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i !i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i! i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i !i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i! i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i!i !i!i!i!i!i!i!i!i http://www.hondashowoff.com/profile.php?id=3331 <-- my former SI This is blue |
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#4 |
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Senior Member
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its going to be an online business, not like a shop or anything heh
and i already have 2 personal project cars. 89 rex si 94 sol vtec between my closest friend i could already have 4 or 5 sponsor cars, but if i was to pick a "postercar" it would be my friends 98 bpu3 tt supra though __________________
god called in sick today |
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#5 |
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Senior Member
Join Date: Oct 2002
Location: Washington
Age: 22
Posts: 7,741
iTrader: 0 / 0%
Ride: 2007 Scion TC, 2005 Suzuki GSX-R 600
Rep Power: 155
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Oh yeah, everyone and their brother operates a buisiness out of your house. Its pretty easy to do, you just need the right permits and such from your certain state.
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When this is all over I think we should get an apartment together. |
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#7 | |
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Senior Member
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Quote:
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My skin is singed but it heals my heart and with glowing pride I'll wear my scars. I'm honored by your hatred! She wanted love, I taste of blood. She bit my lip and drank my warmth from years before. |
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#8 | |
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Senior Member
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Quote:
I would suggest going as a corporation. You can register as a corporation for under $1000 dollars, and it protects you from liability. If your not into going that route, you can register a dba (doing business as) which allows you to create a bank account and pretty much do business in your companies name instead of yours. Disadvantages to this when you fuck something up or the business goes down the shitter, you are liable for everything. Good thing about it its dirt cheap to get started. After you do that you just need to get your EIN from the IRS and your in business, save for anything else you might need individually from the state. Most states thats it though. Check out your states webpage, they should have it all online. Any other questions, PM me. |
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#9 |
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Super Moderator
Join Date: Sep 2002
Location: CT
Age: 29
Posts: 4,581
iTrader: 0 / 0%
Ride: 06 Chevy Silverado
Rep Power: 88
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Corporation you need 2 or 3 more partners. Get an LLC, it isnt that expensive and you get most of the protection of a corporation. In most states you only need one person to form an llc. Just do a shit load of research and find out what the competition is doing that is good and what they are fucking up on. Also try not to get too big where you can not service your customers in the way they deserve.
__________________
Ex 89 crx si,91 & 95 Civic owner. 06 Silverado RCSB 20's, 2/4" Belltech lowering kit, waiting for 2 more cylinders, 1.9 more liters, and 208 more hp engine swap. |
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#10 |
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Senior Member
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hey nick,
i finally put my car in the shop, they had it all last week. turns out my flywheel was cracked, the part was supposed to be in thursday but ups never showed up, hopefully ill get it back monday/teusday. i also got a friend that works at seminole paint and body in bonifay, the best body shop in the tri county area, and he is gonna paint it for cost of paint 8) my friends supra is at panhandle transmission in lynn haven right now getting fixed as well :P i shoulda known about the tax exempt thing, my mind was just wandering i guess. as far as corporation/llc, i honestly dont know enough about them, guess i got alot of reading to do. i know quite a few people who own there own businesses so hopefully it wont take me long to get the ball rolling on this thing. __________________
god called in sick today |
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#11 |
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RETIRED
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good luck.... and get a good wholesaler. Dealing with keystone and those other shit fucks sucks.
a lot of GOOD comapnies, require a large buy in./.. i.e. - 100 tial wastegates to become a tial dealer. well, 100*200 = 20000 in wastegates. you need money to make money. and thats why im back to ebay ![]() |
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#12 |
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Senior Member
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tried to get any government grants and/or small business loans?
the government will pretty much hand out money to anyone wanting to start a business, or so im told. i havent personally looked into any of it yet either. __________________
god called in sick today |
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#13 | |
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...PENDEJO....
Join Date: Sep 2002
Location: caught in a mosh...
Age: 34
Posts: 10,038
iTrader: 0 / 0%
Ride: bagged Ford Ranger Splash
Rep Power: 202
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get you book on how to start up a small business. it would tell you everything you need to do in order to get one going. thats my suggestion
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***Please leave this section blank. For office use only.*** -BrianE. 1995 Ford Ranger Splash 2009 Ford Focus http://midwestminis.forumotion.com/forum.htm Quote:
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#14 |
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Senior Member
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btw.. a lot of ppl want a company of your business license and if you want to install stuff for ppl who come by.. some ppl want insurance.
Its also cheaper to be a shop wanting to buy their part to install vs a place to buy and sell. When we were going to make Kut Throat Kustoms a place to sell, we had to buy X amount of shit, but since we are just going to do be buying for us and installing shit.. there was no quanity buy in, just amount and it was hella cheaper. Have fun and good luck.. but the state of florida might request an address of bussiness. __________________
For all your air suspension needs <a href=\'http://www.ultimatesporttruck.com\' target=\'_blank\'>Three Rivers Ultimate Sport Truck</a> **There are many misconceptions of air ride and handling. A lot of bullshit spread, please PM if you wish to put air on your car/truck. You will get the 411. There ARE ppl who race with air ride, just have to know how to install it right.** |
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#15 |
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Senior Member
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Best thing for you to do is go to a rather large book store and read read read about starting your own business, gov't grants/loans,LLC's Scorp's etc, you should also speak to others who have actually done this and see if they have input or advice so that you can have a better chance at being more successful.
Good Luck Milan __________________
<span style=\"color:red\">"92 Blue EG"</span> -Project 3 - Motor A (NA stock SiR longblock B16 EG/S1tran) 14.3@97 15" radial tires & Gutted -Project 3 - Motor B (NA stock SiRII longblock B16 EG/S4tran) 13.3@103 MT's & Gutted <span style=\"color:red\">"Goldy S13"</span> -Project 4 - Motor A (FI SR20DET w/T28 "Under Construction" <span style=\"color:red\">"Silver E46"</span> -Project 5 - Motor A (???) |
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#16 | |
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Banned
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Quote:
wow, how fucking stupid can you get? arent you that same dumbfuck n00b i didnt get a chance to flame due to a locked thread? --------------------------------------------------------------------------------------------- to the guy who started this thread: first off and foremost, a COPORATION is NOT the type of business entitiy you wish create for your particular type of situtaion. corporations involve a lot of expense and effort to create and operate. will the prospective business owner act as his or her own Promoter? if so, he/she is PERSONALY liable for any and all contracts entered into during the formation of the corportation. do you want to take this risk knowing that (i forget the statistic off-hand) 90% (good number) of all businesses fail within the first five years? Who will be financially backing this operation? if not, then he/she must search out investors. this invovles creating a business plan and months and months of work (assuming he/she is doing it themselves) second of all, corportations receive the benefit (couldnt think of a better euphanism) of double taxation. your best bet would be to look into an "S" corporation, sole proprietorship, or even an LLC. "S" corporations (shareholders that is) have the best of both worlds: the limited liability of a corporation AND the tax status of a partnership. only disadvantages to an "S" corp. is that there can only be one class of stocks, 75 shareholders and shareholders can NOT be partnerships or other corporations. (your dad's multimillion dollar company cannot be a shareholder )if you are serious about starting a business, you must realize that it will take months and months of hard work and preparation in order to even start selling items to the public. I did not even address the fact that you should take a long hard look at the market in which you are trying to enter and ask yourself: WHAT MAKES ME, MY PRODUCTS OR MY COMPANY UNIQUE AND INDIVIDUAL, AND SETS ME APART FROM THE REST OF THE COMPETITION? if you cant come up with a GOOD answer to that question, assuming that you have no prior business experience whatsoever, i would advise you to re-think your plan all the way through. ----------------------------------------------------------------------------------------------- now onto halcyon..... i knew you were some dumb fucking n00b just spouting his bitch ass mouth off earlier, and your ignorance on the law, and the fact that you even ATTEMPTED to give a psuedo-legal answer to the proposed question lets me know i was 100% right. SHUT THE FUCK UP N00B ![]() <<edit>> the quote button on this version....sucks y0 |
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#17 | |
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Senior Member
Join Date: Oct 2002
Location: Northern NJ
Age: 24
Posts: 6,203
iTrader: 0 / 0%
Ride: 2006 Audi A4
Rep Power: 116
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Quote:
__________________
"Good talk... I'll see you out there." |
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#18 |
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Senior Member
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yeah i realize alot of businesses fail in the first five years i just dont really care. i got nothing to lose. i also have investors lined up if its necessary. and as far as the market goes. there will always be a market for import performance and since this will be a web based business ( at least to start out with ) then finding business wont be that much of a problem.
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god called in sick today |
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#20 |
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GNU/Linux Evangelist
Join Date: Sep 2002
Location: Greater Portland, OR
Posts: 5,497
iTrader: 0 / 0%
Ride: The Cheapest Road Bicycle I could get
Rep Power: 69
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I think karnash is completely right. You need to sit down and think through everything. You have a lot to lose and there will not always be a market for import parts.
__________________
v3sw7+9Chw6ln3pr7Ock4ma9w3TXm3l7GDF i7Ce6+8t4MNb8Oen6g6RAOa26s5MRp6 hackerkey.com |
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#21 |
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Senior Member
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as long as there are companies making sport compacts there will be people trying to make them fast.
and even after they dont make them anymore there will still be people trying to make 50 year old hondas fast. __________________
god called in sick today |
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#22 | |
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Senior Member
Join Date: Oct 2002
Location: Northern NJ
Age: 24
Posts: 6,203
iTrader: 0 / 0%
Ride: 2006 Audi A4
Rep Power: 116
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Quote:
...you can turn it into a general parts store, or an american muscle store, or what not... whichever way the wind blows, it'll always be blowing somewhere. __________________
"Good talk... I'll see you out there." |
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#23 | |
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Banned
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Quote:
yet another area of my expertise. ok. im assuming you are a normal "joe schmoe" who wants to start his own business. im also assuming you have no prior website design/business skills. correct me if im wrong please. but if this applies to you, did you ever stop to think how you are going to direct traffic to your site? coming from personal experience (when i did my buddies website) for a small shop (with a above-par webdesigner (me)) it was really hard for me to get SHITLOADS (better word?) of traffic to the site. our traffic mainly consisted of flyers we passed out at shows we had booths at, word of mouth (the shop has been established for over 8 years in so cali) and diddly little shit advertising.... what im trying to say here is that it is alot more work and involves alot more variables than you think. you seem to think you can just "open up" a import shop and watch the cash start flowing in. please step into my time machine, dials set for 1996 and ill make your wish come true. nowadays (unless you live in a market where import shops are few and far inbetween, and yes i do know you said "website" (but for arguement's sake)) import shops run a dime a dozen. and the web? HA forget it. you would have to be on par with SPEEDOPTIONS.com or OPTIONSAUTOSALON.com in order to compete. and as for the "investors".... im not talking about your "uncle eddie" who won 10,000.00 in the Ohio state lottery... im guesstimating from the type of business you are describing and wish to create, you would need AT LEAST 200,000.00 to start off with. Why? any REAL investor can shell out the necessary cash needed to get the business up and running. but what's in it for them? they want some angle, some uniqueness aspect that will set your company, be it web-based or mortar-based apart from the rest. i know if i was an investor with that kinda cash to drop, i would first do an independant survey of the market and see whether or not it is flooded. then i would take a look at your business plan and try to figure out if you are going to be the next optionsautosalon.com or the next .....superhonda.com third (did i do second allready?) of all, assuming you are doing the "internet thing" (forget then about the rent payment for the property you are using for your place of business) where are you going to warehouse your stock at? who will pick, pack and ship your orders? who will do customer service? who will deliver your products? who will take care of maintaining (sp) the website? who will take care of the advertising? will you hire employees to work for you? will you pay for their insurance? how much an hour will you pay them? what if you catch an employee stealing from you? i think you get my point. now if this is some "run of the mill, back-woods moonshine" operation coming from your apartment bedroom.... dont expect to be living the Champaigne Wishes and Caviar Dreams any time soon. it'll be more like Mad-Dogg 22 wishes and Hot-Dog dreams (without the buns) im not trying to discourage you at all, it just that starting, running and maintaining a real business takes lots of time, money and patience. and even with those key virtues, and the fact that you ARE making money, chances are you wont see a profit for many years or months to come. you are not going to get rich quick by running a half-assed internet-based business with low stock, poor website design, and serious lack of cash-flow. <<edit>> and for when i graduate to ensure "job security" i would also suggest you hire an attorney, or if you cant afford one, goto a free legal clinic to get some much needed help. and its good that you have "nothing to loose" but you must realize that just because the Fast and Furious is out and about, and every teenage pimple faced kid and his mommy has a honda that is <<quote unquote>> "fixed up" does not mean that you will be successfull in the industry. what will set your store/site apart from the rest? what will make ME want to buy my 500.00 boost controller from you? or some ricer buy some altezzas the same? i dont know you. you have not established a name for yourself on the internet or in a store. i would personally rather stick with a well-known site like optionsautosalon.com for my major purchases. what if legal issues arise? are you equipped to deal with them? what about refunds? little shit like this can make or break your company. what if i order a part from you and it is defective? or you overcharged my credit card or some other inevitable situation that may arise.... one fuck up like that from a small, independant site/shop can ruin your reputation and you will be the next thread on hondaswap.com entitled "DO NOT BUY FROM" becasue some pissed off kid in idaho thought you gave him shitty customer service and decided the only way to get back at you was to flame you and your company in a thread. shit, look at the telecommunications market. if your not AT&T or VERIZON forget about it. (shitty analogy...but u get the point) again, if you know your shit, and know what you are doing, then please excuse my ranting and raving on here. you dont say much about your past experiences or talents so im naturally assuming you dont know much.....plus the fact that you posted the question on hondaswap.com instead of talking to an attorney to figure out your options, then opening the shop/site, THEN posting on hondaswap.com...COME VISIT MY NEW WEBSITE/IMPORT PART STORE. and a "cock measuring contest" ?????? i only flame n00bs and dumbfucks that run their fat mouths and let their ignorance show through.... |
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#24 |
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Senior Member
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if you read my previous posts i stated that i ran 3 different websites while i was in highschool. my brother also owns his own webdesign/graphic design business.
and i am by know means expecting to get rich off this. im not wanting to be the next nopi.com. i just love the scene and want to be a part of it. im at work and dont want to get fired, ill post more later __________________
god called in sick today |
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#25 | |
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Banned
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Quote:
mea culpa. :P aside from the facts that you do know "all that is web" and your brother is a design whoever, the simple fact remains that you need to ask yourself who or what will my business become? are you going to follow the rest and hope for a semi-quick buck..."money people make buying and selling shit off of ebay" type shit? few hundred a week or so? or are you going to set yourself apart from the rest? but it holds true for everything that i said. this may not apply to your particular case, but it does apply to the rest of the joe nobodies out there trying to get rich quick off an allready-played out idea. but logistics aside, i guess the old adage "if you build it, they will come" might hold true in your case. either way i wish you the best of luck. IMO tho, its not worth it. i say either shit or get off the fucking pot. yes, im sure you could pull in a few hundred or so a week by "being a part of the scene" with your site.... but fuck man, even that takes alot of work. why not hold back on your idea for a year or so, re-configure your battle plan and come up with an actual business plan that WILL make you rich? |
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