The Difference Between an S Corporation & C Corporation

S Corporations and C corporations are two of the most popular business entities when a company decides to incorporate. Once you have incorporated your business, you might want to be an S corp or a C corp. If you are choosing between the two, tax concerns are usually the major basis for making a decision.

Just like a partnership business structure, S Corporations do not pay any federal income taxes. The profits and losses of an S corp are passed through to the stockholders. These people will then report the income and losses on their personal tax return. This process is called single taxation.

C corporations, however, face double taxation. Double taxation means that the C corp pays federal income tax. All dividends paid to the stockholders are also taxed.

It is always best to have a corporate lawyer in California to assist you in deciding what business entity is most suited to your company.

Learn more of the differences between S Corps and C Corps by reading through this article:

Advantages of Being an S Corporation

A major advantage of being an S Corp is that income and losses are passed through to the shareholders of the company, and taxes are paid only once. Thus, double taxation is eliminated. It is important to check the laws and regulations of your state regarding this, because some states do not recognize S Corps and will tax the company just like a regular C corp. There are states that charge S Corps as state tax, even if the company will not have to pay federal income tax.

If your business becomes an S Corp, you as the owner are protected from liability. With S Corps, the personal assets of the owner and the shareholders are separate from the company’s assets.

Accounting is also easier with S corps, because you can simply use the cash method of accounting. It’s perfectly alright if you do not have any inventory. Moreover, with S corps you will have more room for investors. In fact, S corps can have up to 100 stockholders!

Disadvantages of Being an S Corporation

S Corps , just like other business entities, are required to file a number of official and federal documents, including the Articles of Incorporation. The company must also hold regular meeting with their stockholders, and the minutes of these meeting be filed. There are also a number of government fees that have to be met regularly.

There are also shareholder restrictions with S corps. In a C corp, shareholders are taxed only when they receive their dividends. But with S corps, the shareholders are taxed for any income that the company has, even if they have not received any portion of that income. Another restriction is that S corps shareholders are only allowed to issue one class of stack. Many investors can get discouraged by this.

Again, in order to know more about what you’re getting into when it comes to choosing a business entity for your company, it is always best to have a corporate attorney in Orange County, California to assist you.

Fat Burning Diet and Weight Loss as a Lucrative Small Business Niche

A weight loss business is a profitable small business enterprise that enables you to help people develop healthy eating habits (such as going on a fat burning diet) and lifestyle, in addition to providing lucrative small business earnings.   Entrepreneurs in the diet industry can promote a range of weight loss solutions, ranging from meal plans to workout routines.  Some even venture into publishing books and creating videos on proper weight loss management, following the right fat burning diet, and the facts behind hunger and body fat.

Why Weight Loss Solution is a Potential Small Business Niche

Fat Burning Diet and Weight Loss - Small Business Niche

Fat Burning Diet and Weight Loss – Small Business Niche

The growing obesity market is rife with opportunities for weight loss entrepreneurs to tap into and build a successful small business niche through.  The number of adults with growing waistlines has increased over time and shows no signs of slowing down.  In the United States alone, nearly 150 million people are considered overweight or obese.

Obesity has become a major global health concern in the last decade.  It is a health condition characterized by the accumulation of large amounts of fat in the body and has been observed in both children and adults.  Being overweight can adversely affect the overall health and well-being of an individual, thus increasing the chance of disease and/or reducing life expectancy.

Obesity - Major Health Complications

Obesity – Major Health Complications

Obesity can lead to various health risks and consequences, including coronary heart disease, hypertension, stroke, osteoarthritis, obstructive sleep apnea, and type 2 diabetes.  Excessive body fat accumulation can be attributed to increased food intake and a lack of physical activity.  Metabolic rate and genetics are also said to have a significant influence on weight.

Regulated food intake and physical exercise are considered as mainstays for attaining and maintaining a healthy physique and lifestyle.  Weight loss entrepreneurs should tailor their products and services around these two precepts.

Fat Burning Diet as a Weight Loss Solution for Potential Clients

Fat Burning Diet

Fat Burning Diet

The success of your diet business depends on the products and services that you offer clients.  Develop specific fat burning diet programs and fitness routines that will encourage weight-challenged individuals to adopt in their daily lives and at the same time provide a more advanced regimen for people who are accustomed to an active lifestyle.

There are various weight loss solutions that can be incorporated into your weight loss management programs, such as the baseline diet solution, which implements fat burning foods in its weight loss program guidelines.  The fat burning diet model focuses on food that helps burn fat efficiently.  Fat burning foods have a high thermogenic effect that requires the body to work harder during digestion, thus reducing the amount of calories that the body absorbs.

California Diet Coach on Diet Facts

California Diet Coach on Diet Facts

The Baseline diet solution is founded on basic medical science that shows the significant relationship between carbohydrates, body fat, and weight loss management.  It aims to stimulate hormones that stop hunger pangs.

California diet coach groups recommend the baseline diet solution because of its natural and healthy approach to encouraging healthy habits that can improve the overall health and wellness of an individual.  This weight loss solution focuses on maintaining a high M&P fat and low carb diet that will lead to the elimination of constant hunger and body fat percentage reduction.

Baseline Diet Solution - Weight Loss Help

Baseline Diet Solution – Weight Loss Help

You should also create adaptable weight loss exercises that can be integrated into your diet plan for the optimum health and well-being of your clients.  Providing additional service, like one-on-one counseling with clients, can potentially help distinguish your diet business from the already crowded weight loss market.

Small Business – Wine Retail & The Ideal Wine Storage Option

Wine Storage and Wine Retailing

Wine Storage and Wine Retailing

The small business of wine retailing is a great opportunity for wine lovers to make money off of their favorite pastime.  It also allows them to impart their knowledge of wines to budding wine connoisseurs while earning a living doing what they love most.  Opening up a wine store is an excellent small business venture because of the considerable demand for all types of wines.

 Things You Will Need

The three main things needed in establishing a wine retail business are a liquor license, store location, and furnishings and racking systems.  Securing a liquor license for this small business is required before you can sell your first wine bottle.  Keep in mind that the process for obtaining a liquor license is different in every state.

Scout the best location for setting up your wine business.  Choose a facility that has enough space to accommodate your wine inventory.  Parking availability and the amount of foot traffic in the area should also be considered.  Most importantly, review the zoning of your business location to ensure that selling wines is allowed in the area.

Custom Wine Racks for Wine Storage

Custom Wine Racks for Wine Storage

Select the right mix of furnishings and wine racking systems for your wine store to create an elegant ambiance.  Furnishings provide comfort and convenience to your clients, while wine storage racks are essential to the preservation of the quality of your wine stock.  Racking systems also allow you to organize and display different types of wine bottles for customers to see.

You have the option to sell local wines or vintages from around the world.  Whatever varieties you have on hand, proper wine storage is required in order to maintain their taste and quality over time.  Aside from storing them in climate controlled conditions, the safety and security of your stock should also be taken into account, considering that their value increases over time.

 The Ideal Wine Storage Facility

Check out this Commercial Custom Wine Cellars Miami

Commercial Custom Wine Cellars Miami

A commercial wine storage facility provides storage services to private collectors and wine retailers.  It is a rented space located off-site, where wine bottles are stored.  This wine storage facility has two types: the self-service locker and the full-service facility.

The self-service wine storage locker offers convenience and privacy because it provides separate storage spaces for each renter.  On the other hand, the full-service facility is a shared storage space wherein all renters have access to the site.

These commercial wine cellars Fort Lauderdale Florida are designed to keep wines in an environment wherein the  temperature remains at 55 degrees Fahrenheit and the humidity level stays at 70%.  Installing commercial wine cellar cooling units allow storage facilities to properly maintain the conditions inside the facility.  These cooling units are engineered for commercial use and have cooling capacities ideal for any cellar space.

Off-site wine storage can hold larger collections.  Most of these facilities offer 24 hour access to the storage area.  They have backup power systems to ensure that the right conditions are maintained under any circumstances.  Wine storage facilities have security measures in place to protect against theft and burglary.

If you need a space to house your investment, whether you are a wine collector or a wine retailer, commercial wine cellars can provide consistency and stability in terms of storage conditions for storing and aging your wines long-term.

To better promote your business, it is recommended that you invest in putting up a website and create an online shopping option for your future customers.  This way, more people will have easier access to your store and the products you offer. Making use of the internet traffic will definitely offer your business increased visibility.

View some of the best commercial wine cellars we have found at these sites:

Preparing for the Future: Scaling and Small Business Development

Scaling a Small Business is a lot of Hard Work but is Necessary for Business Growth

Having a scaling small business plan in place for your small business is important if you want to make the transition from small business to corporation or big business. Not many small businesses have scaling in mind, but when dealing with business growth, building your business around scaling is important.

It’s much easier said than done but small business scaling and business development generally is not impossible if you’re smart about it.

The first thing you should do is document everything. Whether you’re training an employee, or documenting a business procedure it should be done as soon as possible. This way you’ll have access to all the transactions and training you’ve ever done. When you become a large enterprise you can simply give access to the transactions to your accountants and the training to your new employees. Training can be done either through written documentation or by filming it. In the case of the procedures, you can review them and see what needs to be changed to streamline the procedures.

An Accountant Can Give You the Best Insight for Scaling Small Businesses

Hiring an accountant early on in your business is another great idea to help you scale your business. You don’t need to hire an accountant full time, but have one run your numbers and figure out how exactly to scale your business. Scaling small businesses is a lot easier with someone who can help you understand the numbers and give you the ability to make the best choices as you’re moving on. Basically, if you’re going to restructure or expand your company, discuss it with an accountant.

Finding out if your company is doing well will help you make the transition to a larger enterprise as you can modify your procedures and strategies, but figuring it out is a lot more than just sales numbers. There’s a lot of trial and error to determine what to measure. It might be the number of people who called or walked into your store, or an assortment of other factors.

 Incorporating Your Scaling Small Business to Protect Yourself

When you become a big business, you are going to have a lot more liability. When you’re making the transition you’ll probably want to incorporate your Los Angeles California small business. Protecting your business and yourself is important, and you can do it with many legal entities such as an LLC, corporation, or S Corp. It does cost a bit of money to incorporate but it’s very important to your scaling small business. Some partnerships will still make sense, but you don’t want to stay a sole proprietor or a partnership for too long.

What incorporating does is remove your personal liability from the company. That means you won’t lose money from your personal bank account or lose your home if your company fails. There are also some significant tax benefits and advantages when you become a corporation.

Information runs throughout your whole business and keeping as little information in your head as possible is the best strategy. You’re only human so you’ll likely forget things from time to time which means having it in a database where it’s not going to get lost is an important strategy. Have your employees keep their information written down or stored so they don’t lose it as well.

Remembering everything can make dealing with clients and firms a lot better and even bring in more sales. Even if you have an amazing memory, as you experience business growth you’ll have a harder and harder time keeping track of everything.

Find out what all of your responsibilities are, and create job positions along with detailed descriptions that take care of those responsibilities. That way, when you can no longer handle everything by yourself, you can hire someone easily and not have to worry about that responsibility anymore. It’s a lot better to plan ahead for jobs rather than hire someone and try to figure out which responsibilities they should take on.

In order to plan for all of these bumps in the road, plan some growth management meetings to figure out exactly how you’re going to handle your business growth. That way you’ll be completely prepared for scaling small businesses.

Finding Funding For Small Business Development & Startups in California

When you’ve created a grand idea for a small business in Los Angeles California or elsewhere, you don’t want to be limited by how much money you have starting out. Luckily, there are plenty of opportunities to get funding for your company if you know where to look.

Grants and Loans as Ways to Fund Your Small Business Start-up

Grants are possibly one of the best ways to get started because they’re basically loans that you don’t have to pay back. However, grants are only given out to certain companies and have many different stringent policies that determine if you’re eligible. A lot of it depends on where your business is starting up and what your business is doing.

Some places will give you a grant if you are starting up a renewable energy company, because people don’t mind trying to help those types of businesses. Some areas need to expand their tourism industry, so if you’re in the tourism industry you might get a grant. The last grant you can receive is for a child care center and it all depends on where you are. To get the grant, you will probably have to match the grant with a loan or with other funds. It varies depending on which business and who is giving you the grant. Grants are usually for start up business development or small business growth and are extremely competitive.

Loans are another great way to get some startup capital. Take out as small of a loan as possible, and try to get as low of an interest rate as possible so that you’ll eventually break even with your revenue. A lot of the time it’s hard for a start up business to get a loan as banks usually don’t want to invest in something risky.

Signing a Loan is Relatively Simple if Your Small Business has Assets

However, the SBA, or the Small Business Association can help get you a loan with a bank. The way this works is that banks usually will not loan money without some type of collateral. Since small businesses usually don’t own buildings or other assets they usually have no collateral to use. Sometimes a small business will have to use personal assets as collateral, which is extremely risky because you run the risk of losing your house. The SBA will agree to cover 75% of the loss, which will help reduce the risk that the bank is taking in giving you the loan which will help you get that loan. It’s important to note that the SBA won’t lend you any money themselves, so it’s still possible you won’t be able to get the loan. Another way to space yourself away from the company and negate the risk of losing your house if the company fails is to incorporate your small business.

The Many Sources of Equity Financing for Your Small Business Development

Equity financing is still a very popular way of finding funding for a company. Several business developments will look towards friends and family members as a source of funding, but sometimes that can be a difficult move. If your business fails it can sometimes ruin relationships so make sure to weigh how important those relationships are to you compared to how sure you are your company will do well. That being said, these types of funding are usually very convenient and don’t require many contractual strings.

Equity financing doesn’t only come from your family though, but finding an investor is hard to do. There are several ‘angel’ investors out there who invest in start up companies and small businesses. They’re called angels because they are generally very patient and friendly towards their investments. They also have been known to give business training and tips towards their investments and help them out in general. They can be pretty hard to find though, so don’t hold your breath.

Venture Capitalists are a lot more common than ‘angel’ investors, but they usually don’t deal with start ups. If you’re a little bit further along and have a good track record, finding a venture capitalist is a good idea to expand your business growth. The problem with them is that they have pretty high standards and scaling small businesses usually face problems with handling their business growth. The thing with this is that you’re going to have to share control, and you might be selling your company in 3-5 years so be prepared for that. If you get involved with a venture capitalist, you are probably going to see your business development incorporated and learn more about incorporating before you pursue funding from venture capitalists: http://www.incorporationattorney.com

Funding shouldn’t come from a single source, and if you can combine a fair number of these funding sources you should be doing pretty well. And remember that you aren’t required to give up control of your company if you don’t want to, just remember that without an investor’s help you probably won’t experience business growth as quickly.

Doing-It-All-Yourself – Small Business Development California – The Myth

 

Multi-Tasking in Your Small Business Development

Orange County California small business owners often think that if they can do it their selves, it will save them money and help out business growth. Business owners don’t want to waste money outsourcing any of the work they need to do in marketing, delivery, incorporation attorneys, accounting, or sales. While some of the work you can do yourself and end up just fine, such as accounting and delivery, marketing and sales are an entirely different game.

You might have read a few books on marketing, or think that you know everything about marketing to be able to do it yourself, but there’s quite a bit of information that you don’t know that you don’t know. A qualified marketing team knows everything there is to know about marketing and can create a better marketing strategy than you could ever make if you did it yourself. There’s a reason that there are countless firms and people that specialize in marketing, because not everyone can do it easily.

You are Biased and Subjective About Your Business Development

Besides not being nearly as good as a specialist, you’ll also tend to be a lot more subjective. Great marketing strategies have always needed to come from unbiased, objective people. A business owner will usually be incredibly passionate about their business development, and while passion is a good thing in general, it will make a person subjective. You need to see everything that you’re doing wrong in your marketing, which a lot of business owners are unable to do–simply because they’re subjective. Great CEOs have benefited from having a marketing team instead of doing it their selves.

Even if you had all the know-how with marketing in the world, you’d be at a disadvantage to marketing specialists. Most of them have a knack for marketing, and know how to sell a product, something that you can’t hope to match no matter what classes you go to or what books you read.

Going along with the talent required to create great marketing, you need to remember that marketing is a lot more than just a formulaic process that you can follow to a tee and pull out great marketing. You’ll need a lot of creativity to make a great marketing strategy. Using the same marketing strategy of thousands of different companies might help bring in some sales, but it’s nothing compared to a unique and custom built strategy based on your product and company.

Specialists will also have a better grasp of what types of marketing strategies you should focus on, whether you should invest more into SEO content, or content marketing, or even just improve the design or readability of your sites or blogs. Be sure to avoid business development scams and don’t believe everything you hear from a ‘magic marketing company’.

Another thing to realize is that you physically cannot do everything yourself, business development is already very demanding. You are human, and have limited capabilities. There is only so much time in the day to get everything done, and as you have more business growth, you’re going to have to cram more and more things into your day. It’s a lot of hard work, and even if you’re able to squash everything into one day with a few hours of sleep, it’s definitely not sustainable, and at some point you’re going to crack.

It’s Not Only Wasting Your Time, but It’s Ruining Your Business Growth

Doing it all yourself is not as cost effective as you think. Sure you’ll save a few bucks on marketing, but you won’t get nearly as much money out of it as you would if you went to a professional marketing firm or hired a professional marketing team for your company. The key to making the best out of marketing is to find the right person for the job. There are great marketers that you can find to add to your company, and don’t just hire the first person you find for the job.

Don’t feel you are making enough revenue to hire a marketing person? Remember, there are options, there are a lot of good marketing people out there that are willing to work part time, as 1099 employees or work just on specific projects. Remember it’s about working smarter not harder!

And also remember to factor in what your time is worth. If you’re spending countless hours on a marketing project and can’t focus as well or put as much time into other projects, you’re going to make a lot less money.You’re going to create work that someone who’s taken a few courses or read a few books could make, and hiring someone like that is a lot cheaper than wasting your time–time that is worth a great deal of money for what you do.

Wine Cellar Construction a Booming Small Business Market? California and..?

Custom Wine Cellars, the new hot tubs?  Some say they are.  In fact a surprising number of people, both from the end user market and also a lot of those owning commercial small businesses are having a purpose built custom wine room installed.

Commercial Wine Displays & Restaurant Wine Cellars

Some, as in the case of restaurant owners see a cooled and highly visible wine cellar as an opportunity to expand their merchandise into more up-market select wines.  In this economic climate, any opportunity to increase profits without the need to find more customers can be seen as a significant boon.

By creating a stunning wine display highly visible to clients, the overall impression can be that the establishment is one where high quality wine are available.  In interviews with our small business hospitality community it has been suggested that clients will often spend two to three times as much on a bottle of wine if they believe they are sampling something special.

Residential Home Wine Cellar Room Conversions

For home owners too, converting an unused or uninteresting basement room into a beautiful wine cellar can create a visually exciting and unusual feature in their home.  A home feature that can provide direct benefits such as storing and properly aging a wine collection as well as a location for entertainment, or even a wine tasting party.

Wine Room Construction – Strongest Markets

Locations where this market is reported to be particularly strong are reported to be in Los Angeles, Orange County, San Francisco, California, New York & New Jersey, South Florida particularly Miami and West Palm Beach.  Also Chicago, Illinois & Dallas in Texas.

Wine Cellar Builders – Small Local Businesses with Focus

Custom wine cellar builders and wine refrigeration construction contractors are often general builders, finished carpenters and HVAC engineers who have discovered this exciting and growing niche to focus on.  Being a general builder or contractor in growth times can be lucrative, however in down markets life can be difficult and many can go out of business.

Smart small business owners can do well if they can find an alternative to general contracting work in a very specific niche, one where they can port their skills to provide services that are in demand.  The value of a narrow niche can be that it may be perceived as very specialized allowing higher fees as well as making it possible for laser targeted marketing.  Focus on marketing of this kind can produce excellent results.

Best of all, the custom wine cellar room conversion market seems all set to keep growing!

Wine Cellar Builders & Suppliers contributing to this article include:
Arctic Metalworks
Custom Wine Cellars Los Angeles
International Wine Accessories
US Cellar Systems
Wine Cellars by Coastal
Wine Cellars International