Business Structure Questions Require Professional Help

Karen asks,

“I need to know what’s the difference from LLC & Sole Proprietor. Which one will be better, (financially profitable) for me. By the way I live in Florida.”

The site, www.Nolo.com, gives a clear explanation on the differences between the limited liability corporation and sole proprietorship business structures.

As for which one is best for you, financially or otherwise, that’s a question for your accountant or attorney. Anyone outside of either industry who even attempts to answer this question is acting irresponsibly.

[tags]gift basket, gift baskets, business structure, Nolo.com, sole proprietorship, limited liability corporations, LLC[/tags]

Where Can I Find Gift Basket Industry Information?

Darlene asks:

“I am writing a business plan and I wanted to know if there are any Trade Publications, Trade Organizations or Associations that I can get information about the Gift Basket industry?”

There is no definitive place to find gift basket industry facts. Reports have been issued in the past through various magazines, but those reports do not provide a complete snapshot about the many individuals and corporations making gift baskets.

The main stumbling block in creating an industry report is that participating firms are privately owned. They are not required to report their income to anyone outside of the Internal Revenue Service or other governmental agency outside of the U.S.

For U.S.-based firms, the IRS is neither in the position nor obligated to compile this information for us.

I’ve done extensive research to locate information dating back to 1913, which I documented in The Gift Basket Design Book. I’ve also compiled data from an assortment of publications including Specialty Food, Gourmet News, and Gifts & Decorative Accessories.

While those publications did a splendid job at giving us an industry view, the data did not uncover information from all angles. It could not because of the above-stated boundary.

My suggestion is to plan your business according to regional information which is available your county’s administration office.

The answers to these questions and others that uncover the town “makeup” and future plans tell you whether or not a gift basket business will not just survive but how quickly it will thrive.

If you wait for an industry report, you’ll never start, and that’s not an option.

[tags]gift basket, gift baskets, gift basket statistics, gift basket industry[/tags]

Who’s Frustrated with Liquor Laws?

Can you legally add wines and alcohols in your baskets?I admit it. I put a small bottle of liquor, packaged in a beautifully-shaped, black bottle, in a gift basket in my early years when I didn’t know you needed a license do add so. Cuff me now.

It’s still not easy to understand the rules for adding liquor, because every U.S. state has their own laws.

The situation is mind boggling, and to make it worse, it seems that you can’t get a straight answer from anyone at the state department that controls the laws. Or maybe I’m wrong.

When you called your state’s liquor authority, what did they tell you?

If your customers ask for liquor, and you can’t legally add it, what alternatives do you offer?

If you can add liquor, how much did it raise your revenues? Tell us it was worth the trouble!

What are your concerns about this gift basket gray spot? Or perhaps you’re not adding liquor in your baskets and never will?

Gift basket designers outside of the U.S. — tell us if our sketchy laws are the same in your country.

[tags]gift baskets, wine and liquor in baskets, state liquor laws[/tags]

Next Page →