Guidebook to Starting Your Own Engraving and Cutting Business

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Determining your business structureIn the previous section, we mentioned that prior to establishing a namefor your business, it is wise to determine your business structure. Thisis important because some states require a sole proprietor use his orher own name for the business name unless he or she formally files foranother trade name or fictitious name. This section will discuss differenttypes of business structures, as defined by the US Small BusinessAdministration.Sole ProprietorshipsThe majority of small businesses start out as sole proprietorships. A soleproprietorship is owned by a single individual who runs the business ona daily basis. The sole proprietor owns all of assets of the business andthe profits generated by it. Also assumed by the proprietor is completeresponsibility for any of its liabilities or debts. If you are a sole proprietor,you and your business are one and the same.PartnershipsIn a partnership, two or more people share ownership of one business.Because, like proprietorships, the owners and the business are one andthe same, partners should have a legal agreement that outlines howissues will be handled.CorporationsA corporation chartered by the state in which it is headquartered isconsidered by law to be a unique entity, separate and apart from thosewho own it. A corporation can be taxed, it can be sued, and it canenter into contractual agreements. Unlike sole proprietorships andpartnerships, owners of a corporation are technically its shareholders.Upon forming the corporation, shareholders elect a board of directors tooversee the major policies and decisions. The corporation is separatefrom its owners – it does not dissolve if ownership changes.Limited Liability Company (LLC)A newer, sort of hybrid business structure is the Limited LiabilityCorporation. Now accepted in most states, the LLC is designedto provide the limited liability features of a corporation and the taxefficiencies and operational flexibility of a partnership. The LLCformation is a bit more complex and formal than a general partnership.24 Guidebook to Starting Your Own Engraving and Cutting Business
!!!Can you do it?Yes. A profitable laser engraving business is indeedpossible. So many of our customers are currentlyrunning successful businesses that they started from scratch. They wereall where you are right now, trying to decide if a laser purchase is rightfor them. With creative ideas, hard work and dedication, they establishedgrowing, thriving businesses, and so can you.We hope that this guide has provided you with a solid foundation intoentering the laser engraving industry and has put you on the right path tostarting your own successful enterprise.When you start your business, remember to keep checking EpilogLaser’s website for great tips and tricks in the Technical Library andproject ideas and downloads in our Sample Club. We are 100%dedicated to helping you build a successful business and will continue toprovide new ideas to make you more successful.Good luck with your new journey. Here’s to you and your exciting newlaser engraving business!© 2008 Epilog Laser25
Page 1 and 2: Guidebook toStarting Your OwnEngrav
Page 3 and 4: Table of ContentsSo, you want to st
Page 5 and 6: Is this a franchise opportunity?No.
Page 7 and 8: What do I need to get started?Engra
Page 9: Earning potential using a laser$ $
Page 12 and 13: Marketing your laser companyBefore
Page 14 and 15: What’s my first step in starting
Page 16 and 17: ? ? ?What can I engrave with a lase
Page 18 and 19: Ready to start your own engravingbu
Page 20 and 21: What niche will your business fill?
Page 22 and 23: Financial Data• Loan applications
Page 24 and 25: How do you calculate your breakeven
Page 28: Epilog Laser16371 Table Mountain Pa

Guidebook to Starting Your Own Engraving and Cutting Business

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