Appendix B. Going Into Business

The most important aspect of a new business is a solid, viable business plan. Simply, a business plan defines how much money you expect to spend (costs), how you expect to conduct your business affairs (marketing), and how much you expect to earn (pricing). It's the combination of your budget, your marketing plan, and your company philosophy.

Basic Business Setup

You will need to do a variety of things before you actually hang the shingle above the door. In order to make sure your business has a solid step, you need to get it off on the right foot.

Business license

Many people don't factor this into their planning, which is a mistake. You must establish your legal business identity so that you can operate legally, charge taxes, file taxes as a business, and set up trade accounts with suppliers. Every country, state, province, and sometimes even municipality has different rules for what steps businesses must take to become registered. Check with your local Better Business Bureau or small-business agency for the rules that apply to a photography business, particularly a home-based business, if this is your plan. Do not discount the importance of working "on the level" and being properly registered with the right people.

Tip

If you are using your home for your business, you need to check the zoning regulations and restrictions in your area before you get started. Some residential areas have zoning restrictions that do not allow you to operate a service business ...

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