I make beautiful intricate hand-beaded jewellery as a hobby. How can I translate this into an income while studying at University in the US? Do you think an internet business would work for me? And what would be a good structure for such a business? Just trying to get ideas here. The broke student gig isn’t going to work for me for the remaining years.
(P.S. I’m not a US resident so I can’t get a job off campus. I need to be creative but legal here.)
2006-10-23 05:20:21 · 6 answers · asked by Anonymous in Business & Finance ➔ Small Business
If you have experience with internet business or any other type of small business please give a little advice that would help me get things off the ground. Thanks.
2006-10-25 05:29:50 · update #1
Doing business on the internet requires cooperation. (as in any walk of life except selling your wares on the street).
You might use the internet as a good way of displaying your product, and give some people who you talk to a business card. Sales are best conducted in person, as most women will know.
I suspect it is legal to host the products on a website abroad. What might be illegal, would be tax avoidance. If you do not think tax will be an issue, then I cannot see what is illegal.
You may find that your visa is cut short however, if you transact business which is not deemed legitimate. The best way to find out about legality, is trial and error.
2006-10-25 08:57:32 · answer #1 · answered by James 6 · 0⤊ 0⤋
It's unlikely you'll produce enough volume working alone to fulfill your financial needs unless you're using gemstones and very stylish designs. Example: Let's say you construct 3 pieces each day and work 6 days each week for 50 weeks each year. 900 pieces for the first year. Assume your tuition, room and board are $25000. You would need to sell each piece for $28.00 to cover your basics. Now add in the cost of the beads, wire and clasps. I don't know what that would be but let's assume $10.00. Also you will need to consider your other living costs like laundry, entertainment, supplies. You're looking at $45 cost per unit excluding sales tax, shipping costs and internet fees assuming you have the time to make three every night. Selling locally only assumes the college market is sufficiently affluent to afford $45 jewelry and relavtively high volume. It seems worth your time to do a test market case. Make six necklaces - all identical. Get a local department store (away from the university) to put your necklaces on display ( tell them it's a business school project). Also get a store very close to the university to put three on display. Price them at $50.00 and see what happens over two months. Not conclusive but u might learn something. Other alternatives could include having someone else do the labor and source the materials.
2006-10-23 12:57:25 · answer #2 · answered by bardmere 5 · 0⤊ 0⤋
Start with a state or local taxpayer id and selling on ebay or at crafts shows before you pay to set up a website. Get lots of stuff made before Christmas as that is 50% of your sales.
2006-10-23 12:25:11 · answer #3 · answered by Buffy Summers 6 · 0⤊ 0⤋
Yes this is a brilliant idea, my friend also does this, there are many art and craft fairs where you can sell them, my friend makes a lot of money out of this. I think if you just pay for a stall it should be ok, or school fairs is another possible venue. Good luck xXx
2006-10-23 12:23:51 · answer #4 · answered by Star dust 4 · 2⤊ 0⤋
Yes it is possible to start a business while in school; I did! I sell books online. As long as you know what your time limits are, it is possible. I can't help you with the legal part though.
2006-10-23 12:29:58 · answer #5 · answered by Anonymous · 1⤊ 0⤋
not sure if you can but the best of luck
2006-10-23 12:30:51 · answer #6 · answered by CLAIRE B 2 · 0⤊ 0⤋