I mentioned this some time ago but a small business that I want to get into is making panel id tags for electrical and HVAC companies here in town. The equipment will cost me anywhere from $300-800 dollars but at $3.50 a tag it won’t take too long to recoup my money.

I need to think about setting up a website where users can submit a request online and I can fill orders. If this works out ok locally then I could expand elsewhere? I know that I should be able to do my own companies labels and save them money while paying for the equipment. Also I could get into the pet id tag business but there are already hundreds of them online already.

I have several websites that I have owned for years. (ie: this one.) I usually spend every dime that I make from them. I have said, time and time again that I was going to invest the money but never seem to do it.

Today I just renewed my hosting for another 2 years. It’s a good feeling knowing that I can generate income from very little out of pocket expense and not have to really worry about it for another 2 years. My problem is liability. I run a dating website and I am always wondering if or when I might get sued for someone have a bad relationship or meeting and then sue me.

Incorporation is only $125 for 5 years in Ohio and I have done it by myself before. Actually it’s only 2 pieces of paper with the Company name and my name as representative.  Another good thing about incorporation is that I will turn this hobby into a legitimate business and I can write off everything associated with it. Now to pick a name..