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Thread: Attempting to start a small business in college

  1. #17
    zesty. BioZest's Avatar
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    best of luck on this.

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    East_to_west's Avatar
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    I have some plantlets and leaf pullings that I might be able to send your way as long as you pay shipping. Although if your trying to make money, propagating plants like that takes a lot of time and you'll only be able to sell each plant for a few dollars. Also who are you planning to sell these to? Pretty much the only way to actually make money off plants without years or growing/propagating is to buy in bulk and sell them to nurseries and private collectors like most of us. I hope everything works out though. Let me know if you'd like the pullings.
    Too weird to live, too rare to die.

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    Quote Originally Posted by East_to_west View Post
    I have some plantlets and leaf pullings that I might be able to send your way as long as you pay shipping. Although if your trying to make money, propagating plants like that takes a lot of time and you'll only be able to sell each plant for a few dollars. Also who are you planning to sell these to? Pretty much the only way to actually make money off plants without years or growing/propagating is to buy in bulk and sell them to nurseries and private collectors like most of us. I hope everything works out though. Let me know if you'd like the pullings.
    I thought I'd be able to grow it into a mature plant, but they probably wouldn't grow as fast as Drosera. I think I'll just go buy a mature plant instead.
    Formerly known as WaterKirby.

  4. #20
    East_to_west's Avatar
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    Pings probably grow faster than anything. I've gone from leaf pulling, to mature plant in like 4 months or so. But even then your only going to have a handful of $5-10 plants to sell.
    Too weird to live, too rare to die.

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    LeafKirby's Avatar
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    Quote Originally Posted by East_to_west View Post
    Pings probably grow faster than anything. I've gone from leaf pulling, to mature plant in like 4 months or so. But even then your only going to have a handful of $5-10 plants to sell.
    Well, I don't expect to sell that much, so if I can get like 2 leaf pullings for a mature plant every month it will be good.
    Formerly known as WaterKirby.

  6. #22
    Hello, I must be going... Not a Number's Avatar
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    You'll need a tax id number, resale and business licenses and permits. Many of them at the local level in the city/county you are doing business. The Small Business Association can help you get started.

    http://www.sba.gov/category/navigati...rting-business
    Grand Hotel... always the same. People come, people go. Nothing ever happens.

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    31drew31's Avatar
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    Quote Originally Posted by Not a Number View Post
    You'll need a tax id number, resale and business licenses and permits. Many of them at the local level in the city/county you are doing business. The Small Business Association can help you get started.

    http://www.sba.gov/category/navigati...rting-business
    I doubt he would ever sell enough to cover the cost of a business license or warrant the need for one. Also don't think the IRS would be worried about the $30 of taxes theyre missing because he didnt register for a tax ID.

    More likely he would incurr a loss with the cost of water, lighting and heating, therefore no income would be earned and no taxes due and could maybe be offset against any income from other jobs. According to the IRS website, no tax ID is needed for small business and instead uses their social security number. Assuming he makes money (>$400) then this would be recorded as business income on a personal return.

    http://www.irs.gov/Help-&-Resources/...Number-(EIN)-1

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    Tony C's Avatar
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    Quote Originally Posted by 31drew31 View Post
    I doubt he would ever sell enough to cover the cost of a business license or warrant the need for one. Also don't think the IRS would be worried about the $30 of taxes theyre missing because he didnt register for a tax ID.

    More likely he would incurr a loss with the cost of water, lighting and heating, therefore no income would be earned and no taxes due and could maybe be offset against any income from other jobs. According to the IRS website, no tax ID is needed for small business and instead uses their social security number. Assuming he makes money (>$400) then this would be recorded as business income on a personal return.

    http://www.irs.gov/Help-&-Resources/...Number-(EIN)-1
    A Tax ID number is free and takes 10-15 minutes to get, there is no reason not to have one. The less you have to use your SSN the better with all the cases of identity theft that happen now.

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