Starting A Business - FaunaClassifieds
FaunaClassifieds  
  Tired of those Google and InfoLink ads? Upgrade Your Membership!
  Inside FaunaClassifieds » Photo Gallery  
 

Go Back   FaunaClassifieds > Reptile & Amphibian - Business Forums > General Business Discussions

Notices

General Business Discussions This is a general purpose forum open to business related topics concerning Reptiles and Amphibians that are neither appropriate for the Board of Inquiry, nor sales, purchase, or trade solicitations.

Reply
 
Thread Tools Display Modes
Old 03-29-2010, 06:25 PM   #1
Lucidum
Starting A Business

So I'm a beginning herp breeder, and interested in starting an official business called Lucidum Exotics. Does anyone have any ideas for where to begin with such a venture? Is it better to buy a ton of breeding-ready herps right away? Or is it smarter to begin with a single breeding pair and take time to do it?
 
Old 03-29-2010, 07:18 PM   #2
AtrociousOne
start where you can afford, check with your local tax office about getting a tax ID, and you have to register the fictitious name in your state. these links should give you a decent start

http://www.sos.state.or.us/corporation/business/faq.htm

http://licenseinfo.oregon.gov/index...._item_id=13898
 
Old 03-29-2010, 07:19 PM   #3
AtrociousOne
good luck BTW
 
Old 03-29-2010, 07:33 PM   #4
Lucidum
fictitious name?
 
Old 03-29-2010, 07:36 PM   #5
AtrociousOne
being that Lucidum is not your name (ie "Nolton Exotics" "Sams' Exotics") it there has to be sent to a database to be registered in your state. idk what it costs there, it's 50$ here to register a fictitious name. anything other than something with your name in it is considered fictitious
 
Old 03-30-2010, 12:34 AM   #6
WingedWolf
What he's talking about is called a DBA, or 'Doing Business As'. This must be registered with the State, and then there may be other requirements as well. (In Nebraska, I had to print a statement in a local paper explaining that I will be doing business as Eclipse Exotics and Eclipse Metaphysical, for example--the paper charged about $50 apiece for these. Shop around--some papers charge a LOT more).

Be prepared for a hefty tax hit at the end of the year. There is a 'self employment tax'. You may have to pay as much as 3 grand just to be a business.
But being a business may not be optional--making over a certain dollar amount each year may REQUIRE you to register. So, check out all of your local and Federal laws carefully before you decide what to do.

I recommend you have 4 grand set aside JUST for dealing with the expense of setting up a business, and taxes.
Then you need to figure roughly what maintenance of the animals will cost you. Add in a potential health disaster requiring vet care--a grand should cover most scenarios. Set THAT aside, and figure out what you have left to invest.

I actually do recommend you get the highest quality adult animals you can find to start with. Now, it does not cost significantly more to maintain several animals rather than one--the more you have, the more your profit, but you absolutely, positively MUST be prepared. You must dot all of your 'i's and cross all of your 't's. As you can see, this isn't necessarily a cheap thing to get into, but that just goes back to the old truth--you have to have money to make money.
If you get only a pair of animals with the intent to work your way up, it'll take you half your lifetime to reach your goal. If you make a big investment at the start, you'll get there MUCH faster...but there's also a bigger potential for a disaster to wipe you. Investment can be risky, and when live animals are involved, quadruply so.

I guess what I'm saying is, if you don't have 10 grand (or 10 grand worth of breeding stock already), don't bother at this time. At least, not with balls.
 
Old 03-30-2010, 12:36 AM   #7
Shadera
Don't forget to check with your city and state to find out what kind of laws there may be regarding species and number of animals you can have.
 
Old 03-30-2010, 12:44 AM   #8
AtrociousOne
thanks for clarification guys, and like i said, best of luck to you.
 
Old 04-09-2010, 04:07 PM   #9
tinmantribe5
Start off as a Hobbiest and make a couple dollars and enjoy what this "HOBBY" has to offer.
Get my Drift!
 
Old 04-09-2010, 05:29 PM   #10
gsrept
don't do it. takes all the luster out of enjoying the animals and your not going to get rich doing it. i have quite a few freinds that run reptile buisness in nh big breeders and they wish they had kept it a hobby. ultimatly it is your decision, but put some thought into it before jumping in with both feet. good luck.
 

Join now to reply to this thread or open new ones for your questions & comments! FaunaClassifieds.com is the largest online community about Reptile & Amphibians, Snakes, Lizards and number one classifieds service with thousands of ads to look for. Registration is open to everyone and FREE. Click Here to Register!

 
Reply

Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Starting a business - taxes, deduction, capitalization and more obelix General Business Discussions 6 03-10-2008 01:44 AM
Starting a business in CA sned25271 General Business Discussions 2 05-22-2007 12:23 PM
Starting A Business leogex Geckos Discussion Forum 14 01-12-2003 02:20 AM


All times are GMT -4. The time now is 08:06 PM.







Fauna Top Sites


Powered by vBulletin® Version
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
Page generated in 0.04000497 seconds with 10 queries
Content copyrighted ©2002-2022, FaunaClassifieds, LLC