Much going on here behind the scenes, just now had some time to do some catch-up. I had set out with the goal to start up my on-line business in August. So far things are moving along. During April through May I wasn’t able to do much because the family kept getting sick. But as soon as things got back to normal I got back to plugging away at my business.
I can’t tell you how excited and nervous I was when I applied for a business license via the Internet. I’m legit! And I also got an EIN (Employee ID Number) through the Department of Revenue as well. That was just as nerve wracking. Much of my time had been taken up researching business banking and third party merchant payment systems. I’ve heard that credit unions have lower fees and better services than the big-wig banks so I’m considering the local credit union. For a brief moment I seriously considered just using my Paypal merchant account as my business account, but there are some limitations with that. I’ve not seen any way to give proof that my account is a real business to businesses should I want to do wholesale. Wholesalers usually require bank name and account along with business ID. I believe. Plus there’s the aspect of when I’ll need to do business purchases. I know Paypal offers their credit card, but I don’t want any tie-ups if for some reason the Paypal site is super busy and my card can’t go through. (There was one person on Etsy who mentioned she had this problem and her card was charged multiple times) It just seems more official if I have a physical bank to do my business. However, after saying all that, should I find that the fees are too much and too high, and the minimum balance is unrealistic for me at this time I will just revert to using Paypal, or whatever payment system I decide to go with. Which leads me to the other thing I’ve been looking into.
I’ve come across the three main e-commerce third party payment systems; Paypal, Google Checkout, and Amazon Checkout. I have a Paypal account already. But I’m wondering if either Amazon or Google’s would be better. The fees are about the same. Each have their pros and cons. Paypal is widely used. It also includes easy steps for shipping. It’s set-up within Paypal. I’m not sure if Google has that. From what I’ve read so far it sounds like it doesn’t. Not sure. And well, Amazon has the millions of account holders already on Amazon in it’s favor. I might have to set up accounts in each to find out the details. Sigh. There are others, I just can’t find them. I recall coming across one some time ago. Wish I bookmarked it.
There’s also the various venues for selling on. I’ve been leaning heavily towards Artfire. For a verified account it’s 12 bucks a month. For now. The regular price is said to be 20 bucks. Not sure how long they’ll be holding it at 12 bucks. Of course there’s Etsy, but it’s gotten so large….Apparently only Paypal is inter-grated with them, and they refuse to add any others.
My current project, that’s still in prototype stage, is coming along. I’m pleased with how it’s turning out. Of course there’s still a step or two that needs to be added/altered. But more on that when I reveal the finished product! Then I’ll figure-out how to step-up the production. O boy. I’m also contemplating the next item to add to my products. There’s a long list.
Today was a good day for mail.
I got my first magazine subscription through Fujisan. It’s a children’s boutique sewing/pattern book called Cucito. Cuuute patterns. The other exciting bit of mail is receiving the paper in the mail confirming my tax ID. (Shaking hands all-around) Yippeee!