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Laminate Flooring Business - What You Need To After Deciding To Start
By E. Timothy Uy
Before reading this article, please note that it was written for people wanting to start their own laminate flooring business in the U.S. Therefore, parts of the information in this article are useful only for those particular people.
After setting up your laminate flooring business plan and locating suppliers, several actions are required to kick off the business. First, you need to come up with a name, which you must then register with the Secretary of State, unless you are doing business under your own name. This is required so that people can identify who is the owner of a particular laminate flooring business. For information on how to register the name of your business visit the Secretary of State website for the relevant forms. In California, the website is http://www.ss.ca.gov/business/business.htm. Look for the same information for the state you want to start up your business in.
Next, you need to get is a tax I.D. or a Federal Employer Identification Number (EIN). These are one and the same thing. The EIN is required by the IRS for identifying employers. It is a must if you have employees. Even if you do not intend to have employeeds, it's helpful to obtain it. An EIN often needed for purchasing supplies and merchandise at wholesale prices. Read the IRS publication "Starting a Business & Keeping Records" (www.irs.gov/pub/irs-pdf/p583.pdf -page 3).
After you get an EIN you should consider obtaining a license for your laminate flooring business. Again, contact the Secretary of State website for more information.
If you have employees, you must contact the U.S. Department of Occupational Safety and Health Administration (OSHA). It's a federal agency that oversees workplace safety. All employers are required to provide a healthy and safe workplace. Health and safety inspections are made by the OHSA without prior notice so make sure your workplace is always set up according to their rules. For more information visit the OHSA's website at www.osha.gov.
Finally, after you start your laminate business, make sure to purchase a general business insurance policy. This includes liability and other standard coverage. Get an insurance for the place of business, no matter if you own it or not. Landlord's insurance might be unreliable. If you have at least one employee, you must have worker's compensation insurance. Check with your state's insurance department to see if there are any other additional types of insurance required.
This article provides only a small overview on what you need to know before you start your own laminate flooring business.For more detailed information contact the appropriate authorities in your state.
About the Author
Laminate flooring enthusiasts unite! Installation, maintenance, selection, e.g., Harmonics, Pergo, Shaw, Mannington - you name it, we are talking about it. Join us at http://laminateflooring.oncloud8.com
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