Physical treasures hold a particular place in people’s hearts, even in an age when everything seems to be digital. Preserved infant belongings, in particular, are tangible recollections that stand out from many of today’s offerings. Bronzing companies preserve beloved treasures in bronze and other platings, allowing individuals to save cherished artefacts from their children’s and grandchildren’s childhoods.
The bronzing industry is far from a thriving one. American Bronzing Co., one of the industry’s two major enterprises, has shuttered its doors, as have many other established bronzing businesses. As bigger organisations shut, new possibilities emerge for tiny enterprises that can function in this area while keeping overhead low.
Table of Contents
Follow these ten steps to start a bronzing business:
Plan your Bronzing Company
Make your Bronzing Company a Legal Entity.
Register your Bronzing Company for Taxation
Create a Business Bank Account and a Credit Card
Create Accounting for your Bronzing Company
Get the Permits and Licenses You Need for Your Bronzing Business
Purchase Bronzing Business Insurance
Define your Bronzing Company Brand
Create a website for your Bronzing business.
Configure your Business Phone System
Starting a company entails more than just registering it with the state. We’ve put up this basic guide to getting started in the bronzing industry. These stages will guarantee that your new company is well-planned, correctly registered, and legally compliant.
STEP 1: Make a business plan.
A well-thought-out strategy is vital for entrepreneur success. It will assist you in mapping out the intricacies of your organisation and uncovering some unknowns. Consider the following crucial topics:
What are the initial and continuing expenses?
Who is your intended audience?
How much money may you charge your customers?
Fortunately, we have done a lot of the legwork for you.
What are the expenses of starting a bronzing business?
The expenses of starting a bronzing company are negligible. They cover the price of a workplace, a car, and supplies.
To save money, most company owners set up a workstation in their garage or workshop and use their own car. However, some enterprises are situated in low-income industrial districts. Basements are unsuitable workstations due to insufficient ventilation.
Bronzing materials may be purchased for as low as $300, while more powerful kits cost over $700. Caswell charges $746 for a kit that includes everything required (chemicals, tanks, a DC power source, an airbrush, and buffering materials).
This package does not contain a heat source, however heat is only required for bronzing in cold weather. The temperatures of the solutions must be maintained between 70 and 80 degrees Fahrenheit.
What are the continuing costs of running a bronzing business?
The materials required by a bronzing firm are not inexpensive to refill, but this is the only substantial continuous price, and it is doable. More chemicals may cost $500 and will last for 100 to 500 pairs of shoes. Space and vehicle expenditures are kept to a minimum.
Who is the intended audience?
A bronzing business’s target clientele consists mostly of parents and grandparents of small children. These are the folks who may wish to save souvenirs of their kid or grandchild.
How does a bronzing firm generate revenue?
Customers who pay to bronze infant shoes generate money for a bronzing firm. Businesses often charge a flat fee for a single shoe and provide a little discount for pairs of shoes. It’s also typical to charge more for bigger shoes than for infant shoes. Bronzery includes separate pricing lists for shoes up to 6 inches in length and those between 6 and 8 inches in length.
How much money may you charge your customers?
Today, a bronzed baby sneaker costs between $35 and $50, with pairs selling for just less than twice that. Many companies upsell clients on various metals and bases for bronzed shoes.
Bronzery, for example, provides pewter, silver, and gold finishes as well as a variety of bases. A single gold shoe costs $145.95, and bases may cost several hundred dollars.
How much money can a bronzing company make?
A bronzing company may provide a sizable profit for a single proprietor. With bronzed shoes costing between $35 and $50 each pair, bronzing 15 shoes every week may earn between $525 and $750. This does not include upcharges for pairings, alternative metals, or bases. When all of these factors are considered, a bronzing firm may generate $1,000 or more each week.
How can you increase the profitability of your company?
Baby shoes are the most often bronzed object, however they are not the only items that may be bronzed. Flowers, butterflies, leather, plastic, and other non-conductive items may all be plated. Marketing these may assist increase the profit potential of a bronzing firm.
STEP 2: Establish a legal entity
Sole proprietorship, partnership, limited liability company (LLC), and corporation are the most frequent business structure forms.
If your bronzing company is sued, forming a formal business organisation, such as an LLC or corporation, safeguards you from being held personally accountable.
STEP 3: File your taxes
Before you can begin for business, you must register for a number of state and federal taxes.
To register for taxes, you will need to get an EIN. It’s really simple and completely free!
Taxes on Small Businesses
Depending on the business form you choose, you may have multiple choices for how your company is taxed. Some LLCs, for example, may benefit from being taxed as a S company (S corp).
These guides will teach you more about small company taxes:
Taxes on LLCs
LLC vs. sole proprietorship
Corporation vs. LLC
S Corp vs. LLC
How to Form a S Corporation
S Corporation vs. C Corporation
There may be state taxes that apply to your company. In our state sales tax guides, you may learn more about state sales taxes and franchise taxes.
STEP 4: Establish a company bank account and credit card
Personal asset protection requires the use of distinct business banking and credit accounts.
When you combine your personal and business accounts, your personal assets (your house, vehicle, and other possessions) are at danger if your company is sued. This is known as penetrating your company veil in business law.
Furthermore, understanding how to develop corporate credit may help you get credit cards and other financing in your company’s name (rather than your own), lower interest rates, larger lines of credit, and other benefits.
Establish a business bank account.
Opening a business bank account is not only required when asking for business financing, but it also:
Separates your personal assets from the assets of your firm, which is required for personal asset protection.
It simplifies bookkeeping and tax reporting.
Create a net 30 account.
Net 30 accounts are used to develop and grow company credit while also increasing cash flow. Businesses use a net 30 account to purchase items and refund the whole debt within a 30-day period.
Many net 30 credit suppliers submit information to the main business credit agencies (Dun & Bradstreet, Experian Business, and Equifax Business Credit). This is how firms establish business credit in order to get approved for credit cards and other lines of credit.
Apply for a business credit card.
Obtaining a business credit card benefits you in the following ways:
Put all of your company’s costs in one location to separate personal and business spending.
Build your company’s credit history, which will be important for raising funds in the future.
STEP 5: Establish business accounting
Recording your numerous costs and sources of revenue is crucial to assessing your company’s financial status. Keeping precise and thorough accounting also makes yearly tax filing much easier.
STEP 6: Obtain all required permissions and licences
Failure to get appropriate permissions and licences may result in significant penalties or possibly the closure of your firm.
Requirements for State and Local Business Licensing
To run a bronzing business, certain state permissions and licences may be required. Visit the SBA’s reference to state licences and permits to learn more about licencing requirements in your state.
Occupancy Certificate
A bronzing company is often operated from a small warehouse or factory. A Certificate of Occupancy is often required for businesses that operate from a physical site (CO). A certificate of occupancy certifies that all building rules, zoning laws, and government requirements have been satisfied.
If you intend to rent a space:
In most cases, it is the landlord’s obligation to get a CO.
Before leasing, ensure that your landlord has or can get a valid CO for a bronzing company.
A new CO is often required after a big remodelling. If your location will be refurbished before opening, incorporate wording in your leasing agreement saying that lease payments would not begin until a valid CO is given.
If you intend to buy or create a location:
It is your responsibility to secure a valid CO from a local government entity.
Examine all building rules and zoning standards for your business’s location to verify compliance and the ability to acquire a CO.
STEP 7: Obtain commercial insurance.
Insurance, like licences and permits, is required for your company to operate safely and legally. In the case of a covered loss, business insurance protects your company’s financial well-being.
There are several sorts of insurance plans designed for various types of companies with varying risks. If you are unaware about the hazards that your company may encounter, start with General Liability Insurance. This is the most popular coverage required by small companies, so it’s a good place to start for yours.
Workers’ Compensation Insurance is another important insurance product that many companies need. If your company will have workers, your state may require you to purchase Workers’ Compensation insurance.
STEP 8: Establish your brand
Your company’s brand is what it stands for, as well as how the public perceives it. A strong brand will help your company stand out from the crowd.
How to Market and Promote a Bronzing Business
A bronzing company may be promoted both online and in the local community. Crafty online sites like as Pinterest, Etsy, and Amazon Handmade draw a large number of prospective buyers.
Local merchants may help company owners access a local market. In return for a commission on each sale, baby shops and jewellery stores may be ready to put up a display and collect orders. According to a New York Times report, at least 20 Manhattan stores have engaged into similar agreements with a bronzing firm.
How to Keep Customers Returning
Recommendations are the greatest method to attract consumers, and receiving referrals is simple for a bronzing service. Many clients have acquaintances who are expecting new children or grandkids. Customers who are satisfied with their order are more likely to suggest the business to their friends.
STEP 9: Create your company’s website.
After you’ve defined your brand and designed your logo, the next step is to build a website for your company.
While developing a website is an important step, some may be concerned that it is out of their grasp due to a lack of website-building skills. While this was a fair concern in 2015, online technology has made significant advances in recent years, making the lives of small company owners considerably easier.
The following are the primary reasons why you should not put off developing your website:
Every genuine company has a website, period. When it comes to bringing your company online, it doesn’t matter what size or sector it is.
Social media accounts, such as Facebook pages or LinkedIn company profiles, are not a substitute for your own business website.
STEP 10: Install your company phone system.
Getting a phone for your company is one of the finest methods to keep your personal and professional lives distinct and private. That isn’t the only advantage; it also helps you automate your company, provides it legitimacy, and makes it simpler for prospective clients to identify and contact you.