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Natronix
03-13-2012, 04:35 PM
After being laid off from my previous employer I decided to start my own mobile DJ business. I did several mobile gigs last year, and ended up enjoying them more than I expected to.

I've never owned a business before so, I'm still a little confused on how everything works. Should I open up my business as an LLC? Can anyone recommend me some legitimate insurance providers?

Any input is appreciated

Thanks,
Nate

ampnation
03-13-2012, 05:11 PM
For insurance, check out the ADJA. There are a couple others but I don't know them off hand.

Business model? Find an attorney who specializes in business law and have them get you started right. They can ensure you cover all your bases. Although people who cost less than an attorney can give competent advice in different areas, the attorney can cover a lot of area. You could/should also consult with a CPA, but not JUST a CPA.

Also check out the Small Business Administration. They have connections to people who volunteer to help out start ups. They can make sure you have a business plan and get all the right licenses specific to your region.

DJ Scotch
03-13-2012, 06:13 PM
100% form a company especially LLC. As ampnation suggested. contact your lawyer or accountant. Forming an LLC is not a big deal just need to understand the taxation a little bit.
Make sure after you open an LLC deposit money into company account to show that it is a loan from you to business, use company credit card for any purchase (this will help you when you have to file a claim)
Insurance is must, saves your business from any major f-ups.

Make sure you understand your state law properly, there are a lot of loop hole which will benefit you, so talk to a Tax attorney or your CPA.

Feel free to ask questions.

DJRockinRob
03-13-2012, 08:34 PM
Just get yourself a company name. No need to worry about insurance or registering your business.

jazzyj
03-13-2012, 09:07 PM
Definitely check out any small biz owner stuff given by your state/local govt. There may be a "free" agency to help you get started. They probably won't help you with tax advice but they should tell you about the taxes you should pay under local/state law and guide you through registering your biz.

I put "free" in quotes because we pay taxes that run these programs. Make your tax dollars work for you and use resources you're already paying for! :)

PS - ignore DJ Rob.

Sween
03-14-2012, 07:39 AM
Just get yourself a company name. No need to worry about insurance or registering your business.

^^Is that a joke?

1. Get yourself a Company Name. Choose wisely and keep SEO in mind.
2. Register your business as a Sole Proprietor LLC. Get yourself an EIN #. You will want to upgrade to S-Corp eventually but Sole Proprietor LLC is easiest for starting out. (No quarterly taxes)
3. Get insurance. Available through WEDJ or ADJA. Will run you $200-500 depending on what you cover.
4. Get yourself a domain name. Make it good with your company name. Make sure its available BEFORE you finalize your company name.
5. Make yourself a logo. This will be your brand.
6. Make or hire someone to do your website. Make it good with SEO in mind.
7. While doing 1 thru 6, get some good gigs under your belt. Make sure you have good equipment. Take good photos and get good reviews.
8. Post those photos on your website. Get those reviews onto Wedding Wire or Yelp.
9. Put in 150% percent. Work on advertising and promotion. Kill your gigs. Give good service and value but don't underprice yourself.
10. Grow your business a little each year.

It will not happen overnight. There are lots of DJs out there who will consistently devalue what you do... by undercharging or providing crappy service. It's a bumpy road, so check your suspension.

DJ Scotch
03-14-2012, 08:20 AM
Just get yourself a company name. No need to worry about insurance or registering your business.

Trolling with 1st post on the forum. Classic.

DJ_Shop_Around
03-14-2012, 11:20 AM
Great post....i know they had a more detailed post on setting up the business and tax info on the old forum. Some tax guy who knew plenty.......anyone have that info?

Sent from my DROIDX using Tapatalk

jazzyj
03-14-2012, 11:48 AM
Be leery of taking any tax advice from anyone who is not licensed to do so. It's actually illegal for an unlicensed person to give you the tax advice, and your state/local tax laws are likely different from the city/state that they live in.

Sween
03-14-2012, 12:32 PM
Great post....i know they had a more detailed post on setting up the business and tax info on the old forum. Some tax guy who knew plenty.......anyone have that info?

Sent from my DROIDX using Tapatalk

It's Mike D. I don't think anyone can revive old threads, but maybe if you PM him he can help.

Bottom line. The taxes for a Sole Proprietor LLC are not difficult. The Company = You. TurboTax Business can handle it... although it is always smart to hire a CPA.

DJ_Shop_Around
03-14-2012, 02:53 PM
He back on the forums?

Sween
03-14-2012, 03:04 PM
He back on the forums?

Yes. Here he is http://www.djforums.com/forums/member.php?430-Mike-D

Natronix
03-14-2012, 03:57 PM
Thanks for all the info and input!

I've already checked on sunbiz.org and the business name that I want is available and the url I want. I found someone who will be doing my web design as well, as my logo and business card design.