I am looking to retire in the near future. Rather than give away what I make, I was thinking of selling some things at craft fairs to supplement my retirement and give me extra cash for TOOLS. But I do not know what I need as far as insurance, tax number or anything else. Do I form an LLC? What is a ball park figure on what it will cost me? Who do I contact for this information? I would really appreciate any help you could give me on the subject.
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Retirement
- Thread starter Joe Luzich
- Start date
Max Taylor
In Memoriam
Hi Joe,
Wisconsin is a loooong way from Texas. Each state is different in the way you can set up a business, so, you would be safe in doing your own research into the particulars of what you plan to do. Max.
Wisconsin is a loooong way from Texas. Each state is different in the way you can set up a business, so, you would be safe in doing your own research into the particulars of what you plan to do. Max.
john lucas
AAW Forum Expert
Joe See if you have any artist organizations in your state. In Tennesse we have the Tennessee Association of Craft Artists (TACA). They are a wonderful very helpful group. If you have something similar you can find out all sorts of great stuff, from which tent should I buy to filling out the tax info and even what shows are good or bad.
You can also look up old articles in Craft Reports magazine. Every issue has something about running a craft booth. You can find them online.
You can also look up old articles in Craft Reports magazine. Every issue has something about running a craft booth. You can find them online.
Joe
I'm a couple of years behind you, but not many, and would be very interested in what you find on this topic. I am also in SE WI, so it would pertain.
Thanks
Howard
I'm a couple of years behind you, but not many, and would be very interested in what you find on this topic. I am also in SE WI, so it would pertain.
Thanks
Howard
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Also, in addition to what Max said, I would set my sights a little lower on what to expect. "Extra" money for tools is OK, but counting on it for "supplementing your retirement" could leave you in a pinch since it is neither a reliable nor steady source of income if craft shows are where you intend to sell.
I'm facing the same question. You've had some great advise so far.
Here's my input. Don't count on income, if you need income continue to work for someone else.
If you really want to make your turning income you need to separate yourself from all the other turners that make things in your area.
Here's my input. Don't count on income, if you need income continue to work for someone else.
If you really want to make your turning income you need to separate yourself from all the other turners that make things in your area.
Each state has different requirements for sales tax licenses, and each municipality or county has different requirements for having a home-based business. The AAW-offered insurance is as good as any out there. Actually making money at turning is a whole different story, and there's been many threads posted here on that topic. In my six year experience trying to sell things, I totally agree with what others have said thus far (don't count on a lot and it can be a lot of work), but also have to add that you've got to have a thick skin when someone tells you they can get the same thing cheaper at K Mart.