Welcome to Curious Business
Every Friday, I post a small insight into running Curio City and/or Blue Hills Editorial Services. My most recent posts are directly below. You can also start with the first post, or use the subject labels to the right to home in on particular topics. Feel free to comment on anything that interests you.
Friday, February 03, 2017
(Almost) Introducing Another Curious Business
The astute reader will notice that my blog's header now includes Blue Hills Editorial Services. This week I gave the Town of Braintree $35 to officially create the new DBA. That enabled me to open a checking account so that I can receive payments under my new name. I'm still grappling with a mental block against creating the new website -- it's going to be a long and difficult task, and it's going to cost me somewhere in the vicinity of $100 that I don't have. But that's the last step before I can actively solicit clients, and I'm going to force myself to start it as soon as I finish this post.
I already filed the paperwork to become a contractor for one client who pays $50 an hour for editing. After my recent pay cut, Curio City only pays me around $50 a week, so $50 an hour will make me feel like the 1%. You can see why the editing business might quickly crowd out my store, but I still intend to keep both endeavors going for as long as I have the time. I don't expect to get more than a few hours a month from this client, and Curio City has a lot of inertia going for it. Unless Blue Hills really takes off quickly, I am committed to running Curio City through next Christmas, at least.
When I incorporated in 2005, I became Kraken Enterprises -- plural -- thinking that I might eventually branch out, so Blue Hills fulfills a contingency that I foresaw 12 years ago. I don't know if I'll keep Kraken alive if Curio City ultimately folds. It costs $1,165 a year to keep the corporation in business and, while that structure makes sense for my store, I could save most of that money by running Blue Hills as a sole proprietorship instead. Blue Hills is a Kraken enterprise only because Kraken Enterprises already exists and it costs me nothing to add the second DBA. Curio City and Blue Hills share the same QuickBooks company file and tax return, and I can pay quarterly payroll taxes for both businesses with a single 941. It's all just Kraken Enterprises as far as the IRS is concerned.
I'll tell you more about Blue Hills after I get that website up. I've run out of excuses to dodge that chore, so expect to see it in next week's post.