Tattooing Services Business - Free Essay Example

Sample details Pages: 5 Words: 1433 Downloads: 2 Date added: 2019/04/26 Category Culture Essay Level High school Topics: Tattoo Essay Did you like this example? I am going to open up my own business, in which I will be the proud owner of Tattoos Anonymous. My business will provide tattooing services. My clientele will be above the age of majority (18+). Don’t waste time! Our writers will create an original "Tattooing Services Business" essay for you Create order Tattoos Anonymous will operate Monday-Friday 9am-5pm. To start my business, I will be acquiring the necessary funding from a small business loan pending approval. This loan will help me acquire the equipment and supplies I will need to operate within the 1000 square foot space I plan to provide tattooing services. My business will operate as a sole proprietorship, in which I will own and operate with no employees at this time. If successful, I may, in the near future look to add an employee. The property I am hoping to purchase for my business is located at 1010 State St. Erie, PA 16502. To start a business anywhere, there are a lot of different things involved such as licensing, permits, etc. It is important to conduct thorough research prior to starting a business, as it is not as simple as one may think. One of the first steps I did was to sit down and add up any of the startup costs as recommended by a report put out by the Governors office (Dced.pa.gov p. 12). This way I could create a plan and have a good idea as to how much money I would need to get started. I then projected my monthly operation costs to gauge how practical this venture would be (Dced.pa.gov p. 13). I strongly believe by doing these two things and doing a ton of research prior to opening up a small business may be the difference maker between success and failure. Researching where I would like to open my business is where most of my initial time was spent. There are many factors to think about when choosing the location such as parking because some people may hate feeding a meter, or the neighborhood the business is in might have a high crime rate. Therefore, choosing the location might be one of the most important steps in starting your own business. Obviously, there is no way to foresee everything that may become a problem, but doing my due diligence hopefully will pay off in the long run. The location yet again plays another huge role in operating a business. Each city has different zoning regulations, which dictate what types of business are allowed to operate in certain areas. Once I was satisfied with a location, I then had to make sure it was zoned properly otherwise I would have to start all over. In order to accomplish this, I went to the Erie County Zoning Departments website (erie.pa.us). On the website I was able to view a zoning map for the City of Erie from the year 2017 as well as the contact information if I had any further questions. After spending several days and hours on searching for the right location I then had another daunting task to handle. I thought for quite some time about my business name because I wanted it to sound professional as well as unique. In Pennsylvania, this step is very important because under the Pennsylvania Fictitious Name Statute you must file your business name with the Department of State (eriebar). Some may choose not to register their business name with the Department of State, but I did because the penalties can be dire for not doing so. By not registering the business name, some contracts entered may or may not be enforced which could come back to bite me in the rear (Dced.pa.gov p. 20). Skipping this step could save some time and money, but the consequences are not worth it. Once I filed my business name, I was under the impression I had the sole rights to the name, however I was wrong. To obtain the rights to my business name, I need to file for a trademark. Otherwise I will not have any protection regarding the business name (eriebar). After learning there was yet another step to obtain the rights to my business name I decided not to go ahead with the trademark process. This step wont be necessary for my business since I only intend to operate a small local business. However, if I had plans to branch out and become a bigger business, then I would take the steps to secure a trademark. In order to begin the trademark process, I would have to file an application with the U.S. Patent Office (uspto.gov). I also learned that if you want to operate a tattoo shop in the city of Erie, youre required to take yet another step to comply with local/city ordinances (eriecountypa.gov). Prior to opening, I had to schedule an inspection by the Health Department to obtain a license to operate a body art establishment. This type of license and inspection pertain strictly to body art shops. The license and inspection need to be renewed yearly to ensure compliance with health standards. The regulations are very specific, and they give detailed instructions on how the business should conduct itself in terms of cleanliness and safety for health reasons. Prior to purchasing a property, I needed to make sure I met the requirements for this health inspection. The main point of this inspection is to ensure there is water, sewer, and a clean work environment. In order to operate a business, I also had to apply for an Employee Identification Number through the IRS for Tax purposes (eriebar). The EIN can be obtained by a quick application on the IRS website (irs.gov). The EIN I obtained from the IRS will also be used to help me establish my business bank account, which is required by most banks (dced.pa.gov). This step is very important because the legality of my business could have become an issue if I did not follow Federal and State tax regulations. As a small business owner in Pennsylvania, I am only required to carry Workers Compensation insurance if I have employees. Since I will not be employing anyone at this time I do not need this coverage. In the future if I need this coverage I could get the information by contacting the Bureau of Workers Compensation (eriebar). They will then send me a form to complete and mail back which would start the process (dced.pa.gov). This type of insurance is only required if you have employees to ensure any work-related accidents will be covered (eriebar). Thankfully tattoos are not subject to sales tax in the State of Pennsylvania. They are in many others. If tattoos were taxed, Id collect taxes on all of the sales and then pay them directly to the Department of Revenue. Before I could collect taxes and eventually pay them to the Department of Revenue, I would first have to obtain a Sales and Use Tax License from the Pennsylvania Department of Revenue (eriebar). The application is online and can be found directly on the Pennsylvania Department of Revenues website (pa100.state.pa.us). To protect my business investment, as well as my own personal finances, I purchased a general liability insurance policy which will cover claims for damages to my business property. (nationwide.com/general). If anything financially were to suddenly change with my business, this insurance will give me some financial protection. While general liability insurance is not required, anything could happen at a moments notice and I would rather have protection just in case. As in any business, for it to flourish and succeed, customers are needed to generate business profit. Therefore, it is crucial that potential clientele have a way to get information about my tattooing services establishment as well as contact the business. I will be contacting the phone company to set up a business landline with multiple lines as well as have a presence in social media. Tattoos Anonymous will have its own Facebook page as well as an Instagram account to promote business and advertise work done for satisfied customers. The store front window will also display a business logo, as well as hours of operation and business phone number to give the shop the professional appearance it needs (pasbdc.org). As discussed, there are many steps involved when deciding to open a business in Erie, PA. It requires thorough research for a profitable potential business, as well as following city and state requirements to operate a legal business. The steps will vary depending on the business type, but many will remain the same

Annotated Literature Review GPS Tracking - 845 Words

Alphonse, L. (2010, June). Would you implant a microchip in your child? Boston.com. Retrieved from: http://www.boston.com/community/moms/ blogs/in_the_parenthood/2010/06/would_you_implant_a_microchip_in_your_child.html Written for the lay person, the idea surrounds the disappearance of a child and whether the introduction of implanted chips would make a difference in kidnapping, child abduction, and child pornography. Despite being journalistic in origin, the article quotes statistics from other reliable sources, like the National Center for Missing and Exploited Children. This data indicates that about 800,000 children are reported missing annually, but only 115 of them were kidnapped by criminals or people they did not know. Some would argue that if a microchip can prevent even one childs death, the other consequences are worth it. Others would argue that it is more hype and fear that are driving the marketing of such chips. This article will be the starting point of research on the subject. Dice, M. (2011). Big Brother: The Orwellian Nightmare Come True. San Diego, CA: The Resistance Press. This is a journalistic (and clearly biased) review of the idea of how technology can impact society in a negative manner, the so-called Big Brother approach. The author finds that even the non-invasive GPS tracking materials, the 2009 Little Buddy that is placed in a backpack or lunch pail can be misused. The parent sets a boundary and a time schedule, and if the child movesShow MoreRelatedThe Impact Of Media On Social Media1487 Words   |  6 Pagesacross the social media has been ever increasing. There has been a lot of research on social media and privacy implications of sharing photos and videos on it. Privacy implications of cloud-based storage need to be researched further as the current literature on this is clearly not sufficient. Increasingly, many are storing their own private photos and videos in the cloud. 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Production Operation Assignment Free Essays

Assignment 6: PRICING a) Computation of Economic Value of an offering Mercedes Benz is launching its luxury SUV (called the CDL class) in a market dominated by Lexus GL. The CDL class uses diesel and obtains 25 miles per gallon. The Lexus model, priced at $48000, uses premium gasolene and obtains 20 miles per gallon. We will write a custom essay sample on Production Operation Assignment or any similar topic only for you Order Now Both the models need to be serviced annually but the CDL being a diesel engine requires annual service that is costlier by $100. The life of a diesel engine is typically longer – hence the residual value of a 10 year old CDL is estimated to be $1600 higher than the Lexus. Assume (i) the average cost of premium gasolene to be $3. 0 per gallon (ii) the average cost of diesel to be $3. 25 per gallon (ii) the average customer drives 12000 miles per year and (iii) there is no time discount. What should be the price of the CDL such that the economic value of Benz CDL over Lexus GL (during a 10 year use horizon by a customer) is completely appropriated by Mercedes Benz? The economic value of CDL: Price of substitute=48000 Cost saving=(12000/20*3-12000/25*3. 25-100)=140 Revenue enhancing=residual value=1600+residual value of GL Use horizon=10 EV of CDL=48000+140*10+1600+residual value of GL=51000+residual value of GL The economic value of GL: Price of substitute=X Cost saving=(12000/25*3. 25-12000/20*3+100)=-140 Revenue enhancing=residual value=residual value of GL Use horizon=10 EV of GL=X+(-140)*10+ residual value of GL=X-1400+residual value of GL To make (51000+residual value) equal (X-1400+residual value of GL) X should be 52400 So the price of CDL should be lower than 52400 dollars such that the EV of CDL is higher than GL. b) Breakeven Analysis Nokia has decided to manufacture a special edition cellphone called HiRide for the teen market next year that will be sold with Sprint’s wireless service. For this phone, Nokia’s variable manufacturing cost is $35 per phone. Fixed manufacturing costs amount to $20 million and advertising costs are expected at $6 million. Nokia will sell HiRide to retailers and pay its own salesmen a commission of $8 per phone sold to the retailers. The retail price (i. e. , price paid by the end customer) of the product is $120 and retail margin typically average about 10%. (i) What is the price at which Nokia sells to retailers? Assume that the price is X, thus: X*(1+10%)=120 X=$109 (ii) What is Nokia’s contribution per unit sales for HiRide? Contribution per unit= P-VC=109-(35+8)=$66 (iii) What is Nokia’s breakeven volume? BE volume=FC/contribution per unit=? (20000000+6000000)/66=393939. 4? 393940 (iv) Nokia’s actual sales in Year 1 turned out to be 375000 units. Since the product did not break even, Nokia’s product manager decided to reduce the commission offered to its salesmen in Year 2. Provided the sales volume, price, and other fixed costs remain the same as in Year 1, how much should be the new commission so that HiRide breaks even in Year 2? Assume that it is X, thus: The new contribution per unit would be 109-(35+X), which equals 74-X BE volume =375000=FC/ new contribution per unit=26000000/(74-X) So X =4. 76$ How to cite Production Operation Assignment, Papers