you'll want to factor in the other 'hard costs' of running your business.
In addition to the costs mentioned by LKT "(paper, toner, gas, time wear-&-tear on equipment, wear-&-tear on vehicle)" & time as well as those mentioned by PegiT "background checks, E&O insurance" & "the IRS" for federal income taxes along with state income (where applicable) taxes - you'll also want to factor in the following expenses:
Computers, printers, firewall, & peripheral equipment Office supplies (pens, binder clips, envelopes, tape, etc.) Vehicle maintenance & cleaning Cell phone Commission, licensing, certifications, etc. Professional business attire & cleaning Health insurance Life insurance Business umbrella insurance Internet connection expenses Notary Public/NSA "association" membership fees Web site creation & maintenance fees Advertising costs (including business cards, post cards, etc.)
Over time, Gail, you may discover additional expenses in addition to those I've listed above.
Doing research to determine if there is a good fit for you to perform this type of work is key to success, because it’s not the proverbial ‘cake walk’ that some companies advertise it to be.
Since you’re starting a business, it’s a good idea to reach out to SCORE (service corps of retired executives) online or in-person that offers many free [or for-a-fee] workshops.
Check out the competition.
Be professional in all that you do including the completion of reputable/successful training programs.
“You must spend money to make money” is true for nearly every business - including this one. You'll benefit from advertising.
Be prepared to have a schedule that is unpredictable with last-minute changes.
Protect your social security # by obtaining an EIN from the IRS: http://www.irs.gov/Businesses/Small-Businesses-&-Self-Employed/Apply-for-an-Employer-Identification-Number-%28EIN%29-Online
With each signing, there are a myriad of people that you’ll need to interact with in order to successfully complete the signing engagement. Be professional. Be reliable. Provide service with a smile.
It's important to keep your business "fresh" and reaching out to new clients. Wishing you the best for success.
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