Monday, February 7, 2011

Opening a Flower Shop – The Legal Aspects

Opening your own flower shop is not too difficult. There are a few legal things of which you need to be aware. Always, consult a lawyer if you feel the need and are unsure of yourself. I am not a legal expert, but am only speaking from experience. 

One of the first things you will need is business license, state and local. These can be purchased for a minimal fee and by filling out an application. You do not need any special certifications or degrees for your floral business. Your licenses will need to be displayed in your shop. Your state license (your sales tax license) and sales tax number you are given will be what you need to pay quarterly taxes from on the sales your store has generated. Also, besides paying quarterly sales taxes, this license allows you to buy merchandise for your shop tax exempt. When buying from wholesale vendors they will need your tax identification number as well. 

In the very beginning you may want to hire a professional accountant that can keep you straight on tax laws and paying your taxes. I have learned from experience that by hiring this professional person first before anything, in spite of the cost, will save you much stress, anxiety, and money in the long run. You may think you can do it yourself, but this is an area I would advise against scrimping on. By having this professional on your team you will stay out of trouble. By working with an accountant on a monthly basis they can help you in a variety of ways; very much worth the expense!! Furthermore, if you ever build your business and want to sell it in the future, your books will justify the asking price of your business. Without proper bookkeeping, the worth of your business is null. 

You will need to talk to an insurance agent to see what types of insurance your business will need. What if someone falls in your store and breaks a leg? You are going to need insurance to cover this type of accident. You will also need automobile insurance for your delivery vehicle. Just tell your insurance agent what you are doing and they will tell you everything you need to have to be protected.

You may want to talk to a lawyer about the different ways of incorporating your business. Are you sole proprietorship or are you going to be a LLC? Much to think about here and a professional can educate you on the pros and cons of all. You may also need a lawyer for your lease agreement if you are leasing your shop space. Similarly, you may want help with the hiring of employees. You may need to learn the laws concerning employees. Just protect yourself! An ounce of prevention is worth a pound of cure! Be sure and set your new business up properly. It will be that much less with which you have to be concerned.

How to Open & Operate a Financially Successful Florist and Floral Business Both Online and Off: With Companion CD - ROM 

Starting a Flower and Gift Shop

Kenzo Flower By Kenzo For Women. Eau De Parfum Spray 3.4 Ounces 

Sanrio Hello Kitty World Playset - FLOWER SHOP 

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