Submitted by Lacie Martin
Working parents who want to earn money on the side may want to consider these five ways to make bank.
Establish a Firm Foundation
Whatever direction you choose, starting out properly ensures you don’t get into any trouble with your new venture, and prepares you for future growth. Begin by verifying that your location and vocation don’t require any special permits. Some areas limit where businesses can be established, and some industries require certifications.
Along those same lines, you should also consider forming a limited liability company for your business. In addition to protecting your personal income from your store’s income and liability, starting an LLC can also result in tax advantages and less paperwork. The rules and regulations covering LLCs vary from state to state, although this part is simplified by partnering with a formation service.
And while it might feel like something only a bigger company would require, take the time to draw up a business plan. It’ll help you frame your goals with logical steps, and if you need any seed money, it’ll help to impress lenders.
Working and parenting is a challenge and a little extra cash sometimes enables you to purchase a little peace of mind. Why not look to the Internet for a bank account boost?