Starting an online business?

Discussion in 'Starting a Business' started by KrispyOreo, Nov 15, 2013.

  1. KrispyOreo

    KrispyOreo
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    Hey everyone! I just registered for BAF recently and i have a few questions. Hopefully this wonderful community will be able to help me out.

    I have an idea of creating a SaaS online business. Basically I would be providing some software for a monthly fee or a yearly fee. The software would be 100% created by me. All of this would be digital and no physical products would be sold. Now here are my questions:

    1. Do I need to register something to charge people for my service, as in do I need to be a registered business? (Besides the payment processor)
    2. Would I have to charge tax on there "Digital" purchases?
    3. Can I just run this business under my name?
    4. What kind of tax would I have to pay?
    5. What other questions should I ask?
    6. Any resources you think will benefit me I will gladly read.

    I'm not sure if some of my questions fall under the same category or not but here they are. Any feedback will be greatly appreciated.

    Thank You!
     
  2. Rocky

    Rocky
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    Usually one would be required to register a business and also levy taxes and pay if forward. However, it depends on your country. Where are your based in?
     
  3. KrispyOreo

    KrispyOreo
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    I am based in the US.
     
  4. Mens

    Mens
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    Best way of mkt is to offer first free than paid which will give you better place in mkt
     
  5. medicalbillingso

    medicalbillingso
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    Your questions are correct..

    You need to show your brand is registered.
    there is no problem run your business on your name, but you expecting more profit and brand is well know to everyone mean, you should need to use your brand name as your company name.

    Thanks
    Medicalbillingsoln
     
  6. JamesRC

    JamesRC
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    Hi Krispy!

    Your state laws and even city laws (especially if you are a home-based business which I assume you are) have a lot to do with it. Check with zoning in your city. For instance, I am able to run a home based online business in my city provided there are no signs outside and no employees, or customers visiting my house.

    Secondly, if sole proprietor, you may want to establish a brand name as a dba unless you want to brand yourself, then branding under your name is fine. It depends on how you want your company to be perceived and what you would like 5-10 years down the road. If you want a decent side income and a thousand followers, then John Smith Software is fine. If you want to be a multi-million dollar company with employees, then maybe a more formal name is in order. Plan and run your business now for where you want to be later.

    Taxes: Check with the IRS and your state tax department. They can be surprisingly helpful especially now before the last quarter of the year closes out and they start to get really busy. If no luck with them, check the local chapter of the small business administration: http://www.sba.gov/

    Resources: For any and all online businesses, I highly, highly, highly recommend Chris Farrell. He delivers everything plus more that he promises (rare on the internet) I've been following him for years and have made money online even when I wasn't really putting time into it. I'm an affiliate of his, and this is NOT an affiliate link (how much I believe in his stuff) http://www.chrisfarrellmembership.com/

    Design your life!
    James
     
  7. marcus47

    marcus47
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    You are going to start online business. For online business advertise is playing main role. Spread you messages everywhere.
    1: Online Advertising
    Posting ads on websites that receive heavy traffic.
    2: Newspaper Ads
    A traditional form of advertising, daily and weekly newspaper ads
    3: Radio Advertising
    4: Television Advertising
    5: Public Speaking
    6: Door Hangers and Flyers
    7: Event Sponsorship
    8: social Advertising.

    Provide free software as a trial for a month or two month. Because people never know that how is that work.

    Best wishes for your Business. :)
     

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