I'm thinking about setting up a business. Over the last few days I've been looking for fabric for the Upholstery Course I'm attending. Of course I want the fabric to be fabulous so I'm calling/emailing/visiting all the gorgeous fabric stores I can find; there's just one problem... most of them only sell to businesses!
Even the ones that DO sell to people then charge exorbitant (i.e. recommended retail price) per metre for the fabric in comparison to the wholesale price. Then there is all the equipment required for upholstery - if I'm going to do upholstery at home then I'm going to need to purchase it, at least if I were a business then the cost of the equipment would be tax deductible.
My understanding is that to set up a business you need to plan to make a profit (and not just do the work as a hobby). Well I DEFINITELY plan to make a profit out of upholstery, I'm hoping it will remain an income source that will help me move to the country a bit sooner.
I will need to continue my full time job for the foreseeable future but making a profit from upholstery jobs at the weekend still seems a possibility. Of course I'm getting WELL ahead of myself here; I've attended one upholstery class out of four and am super excited about how much I enjoy it.
Everything always seems like fun at first (OK, not EVERYTHING!) so I will definitely need to wait until the honeymoon period is over with upholstery before making any big decisions. But there is nothing to lose from looking into the costs and options involved in a company, should I decide to start one in the future.
Do you have any advice?