How to start a stationery business
Are you interested in starting your own Stationery Business?
Introduction
Starting a stationery business can be a fun and creative way to earn a living. There are many different types of stationery businesses, from those that sell custom-designed cards and invitations to those that sell ready-made products. Whether you're starting a business from scratch or buying an existing one, there are a few things you'll need to do to get started.
1. Choose your niche. What type of stationery do you want to sell? Will you focus on weddings, parties, or other events? Once you've decided on your niche, you'll be able to choose the products you sell and market them to your target audience.
2. Create a business plan. This will help you map out the steps you need to take to launch your business and make it successful. Include information on your target market, your marketing strategy, your financial goals, and your operations plan.
3. Get the necessary licenses and permits. Depending on the type of stationery business you're starting, you may need to get a business license, a sales tax permit, or both. Check with your local government to find out what's required in your area.
Business Plan
When starting any business, it is important to have a clear plan in place. This will help you to stay organized and on track as you get your business off the ground. Here are a few key points to include in your stationery business plan:
1. Company overview: What is your company’s name? What does your company do? What are your company’s values?
2. Market analysis: Who is your target market? What are their needs and wants? How will your stationery products meet those needs and wants?
3. Competitor analysis: Who are your main competitors? What are their strengths and weaknesses? How can you position your company to be the best in the market?
4. Sales and marketing strategy: How will you reach your target market? What sales channels will you use? What marketing initiatives will you put in place?
5. Financial projections: What are your revenue and expenses projections for the next
12 months? What are your longer-term financial goals?
Creating a comprehensive business plan is essential to the success of any business. By taking the time to research and plan ahead, you will be setting your stationery business up for success from
Target Market
When starting a stationery business, it is important to think about who your target market is. This can help you decide what kind of products to sell, how to market your business, and where to sell your products. One way to narrow down your target market is to think about what type of customer you want to reach. For example, are you selling to businesses or individuals? Are you selling to people who are looking for luxury items or more affordable options? Once you have a general idea of your target market, you can start to think about what kinds of products they would be interested in. For example, if you are selling to businesses, they may be interested in custom stationery with their company logo. If you are selling to individuals, they may be interested in more personal items like wedding invitations or thank you cards. Knowing your target market can help you make decisions about how to price your products, where to sell them, and how to market your business. By taking the time to think about who you want to reach, you can create a stationery business that is tailored to their needs.
Business Model
There are a few different business models you can choose from when starting a stationery business. You can either sell your products wholesale to stores, or open your own retail shop. You can also sell your products online through a website or an e-commerce platform like Etsy. If you choose to sell your products wholesale, you will need to find stores that are interested in stocking your products. You will need to provide them with a price list and terms of sale. Once you have established relationships with stores, you will need to manage your inventory and keep track of orders. If you choose to open your own retail shop, you will need to find a suitable location and build out your space. You will also need to purchase point-of-sale equipment and stock your shelves with product. In addition to selling your products, you will also need to provide customer service and handle returns. If you choose to sell your products online, you will need to set up a website or an Etsy shop. You will need to take pictures of your products and write descriptions. You will also need to set up a payment system and ship your orders to customers..
Competitive Landscape
When you’re starting a new business, it’s important to understand the competitive landscape. Who are your potential competitors? What are they doing well? What could they improve upon? In the stationery business, there are a few key players. Papyrus is a high-end option with a wide range of products. They’re known for their quality and unique designs. Paper Source is another popular option, known for their eclectic selection and DIY approach. Lastly, there’s Crane Co., a more traditional stationery brand with a focus on quality and classic design. To stand out in this landscape, you’ll need to find your niche. Are you going to be the high-end option? The DIY option? The classic option? Once you’ve decided on your niche, you can start to focus on your marketing and branding strategy.
Costs Pricing Strategy
When it comes to starting a stationery business, one of the key things you'll need to think about is your costs and pricing strategy. After all, if you don't charge enough for your products, you won't be able to make a profit. But if you charge too much, you may find it difficult to sell your products. So how do you strike the right balance? One way to think about your pricing is to consider your costs. This includes both the cost of goods sold (COGS) and any other expenses you incur in running your business. Once you know your costs, you can start to think about how much you need to charge in order to make a profit. Of course, your costs are not the only factor to consider when setting prices. You also need to think about what the market will bear. That is, what are customers willing to pay for your products? If you charge too much, they may simply go elsewhere. But if you charge too little, you may not be able to make enough profit to sustain your business. The best way to determine the right prices for your products is to do some market research. Talk to potential customers and find out what they're willing
Forming a Legal Entity
If you want to start a Stationery business, you will need to form a legal entity. This will protect you from personal liability and help you raise money for your business. You can choose to form a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each type of entity has its own pros and cons, so you will need to choose the one that is right for your business. If you are the only owner of your business, a sole proprietorship may be the best option. This type of business is easy to set up and you will not have to deal with much paperwork. However, sole proprietorships offer no personal liability protection, which means that you could be held responsible for debts incurred by your business. Partnerships are similar to sole proprietorships in that they are easy to set up and offer no personal liability protection. If you decide to form a partnership, you will need to choose a business partner who you can trust and who has complementary skills. It is important to have a written partnership agreement that outlines each partner's roles and responsibilities. A limited liability company (LLC) offers personal liability protection and is a good option for a small group of founders.
Opening a Business Bank Account
When you’re ready to start your Stationery business, one of the first steps is to open a business bank account. This will help you keep your personal and business finances separate and will make it easier to track your expenses and income. To open a business bank account, you’ll need to have the following information and documents:
-Your business name and address
-Your Social Security number or Employer Identification Number (EIN)
-A list of the owners, officers, and directors of the company
-Articles of incorporation or a business license
-A voided check or deposit slip from the account you’ll be using for your business
Once you have all of the required information and documents, you can visit your local bank or credit union to open a business checking account.
Setting up Business Accounting
If you're starting a Stationery business, one of the first things you need to do is set up your business accounting. This will ensure that you're keeping track of your finances and that you're complying with any financial regulations that apply to your business. Here's a quick guide to setting up your business accounting:
1. Choose an accounting software. There are many different accounting software packages available, so do some research to find one that will suit your needs.
2. Set up your chart of accounts. This is a list of all the categories of income and expenditure that you will track in your accounting system.
3. Set up your bank account. You will need a business bank account to manage your finances effectively.
4. Keep track of your income and expenditure. Make sure you keep accurate records of all money coming in and going out of your business.
5. Prepare and file your tax return. Once a year, you will need to file a tax return for your business. Make sure you keep on top of this so that you don't miss the deadline
Setting up Business Insurance
As a business owner, it is important to protect your company with the proper insurance. When setting up a Stationery business, you will need to consider the following types of insurance:
-Product liability insurance: This will protect you in the event that a product you designed and printed causes injury or damage.
-Professional liability insurance: This will protect you in the event that a client suffers damages as a result of your work.
-Business property insurance: This will protect your equipment and premises in the event of damage or theft.
-Business interruption insurance: This will protect you in the event that your business has to stop operations due to a covered event.
-Employee dishonesty insurance: This will protect you in the event that an employee steals from your business.
Speak with an insurance agent to determine which policies are right for your business
Setting up a Business Website
If you want to start a Stationery business, one of the first things you need to do is set up a website. This will be your online home base, where potential customers can learn more about your business and what you have to offer. There are a few key things you need to include on your website:
-An About page: This is where you can tell your story and give potential customers a sense of who you are and what you stand for.
-A portfolio: Showcase your best version on your website so that potential clients can see your work.
-A contact page: Make it easy for people to get in touch with you by including your email address and/or social media links.
-Pricing information: Let visitors know how much you charge for your services.
By having a well-designed website, you’ll be able to attract more customers and grow your Stationery business
Obtaining the Necessary Permits
In order to start a stationery business, you will need to obtain the necessary permits from your local government. This may include a business license, a zoning permit, and a sales tax permit. You will also need to register your business with the IRS. Once you have obtained all of the necessary permits, you will be ready to start your stationery business.
Setting up a Business Number or Appointment Setter
When you’re ready to start your Stationery business, one of the first things you need to do is set up a business phone number or an appointment setter. You can use a service like Google Voice to set up a business phone number for your Stationery business. Google Voice will give you a free business phone number that you can use to make and receive calls. Once you have a business phone number, you can start taking calls from potential customers. When you get a call, be sure to take down the customer’s name, contact information, and what they need. Once you have this information, you can give the customer a call back to discuss the project in more detail and give them a quote.
Conclusion
If you're thinking about starting a stationery business, there are a few things you need to keep in mind. First, you need to make sure you have a good handle on the basics of running a business. This includes things like keeping track of your finances, marketing your business, and staying organized. Second, it's important to have a strong understanding of the stationery market. This means knowing what products are in demand, what prices are reasonable, and where your target customers are shopping. Finally, it's crucial to have a solid plan for your business. This means setting realistic goals, creating a budget, and putting together a team of reliable vendors and suppliers. If you can focus on these three areas, you'll be well on your way to starting a successful stationery business.
Why write a business plan?
- Business Plans can help to articulate and flesh out the business’s goals and objectives. This can be beneficial not only for the business owner, but also for potential investors or partners
- Business Plans can serve as a roadmap for the business, helping to keep it on track and on target. This is especially important for businesses that are growing and evolving, as it can be easy to get sidetracked without a clear plan in place.
- Business plans can be a valuable tool for communicating the business’s vision to employees, customers, and other key stakeholders.
- Business plans are one of the most affordable and straightforward ways of ensuring your business is successful.
- Business plans allow you to understand your competition better to critically analyze your unique business proposition and differentiate yourself from the market.
- Business Plans allow you to better understand your customer. Conducting a customer analysis is essential to create better products and services and market more effectively.
- Business Plans allow you to determine the financial needs of the business leading to a better understanding of how much capital is needed to start the business and how much fundraising is needed.
- Business Plans allow you to put your business model in words and analyze it further to improve revenues or fill the holes in your strategy.
- Business plans allow you to attract investors and partners into the business as they can read an explanation about the business.
- Business plans allow you to position your brand by understanding your company’s role in the marketplace.
- Business Plans allow you to uncover new opportunities by undergoing the process of brainstorming while drafting your business plan which allows you to see your business in a new light. This allows you to come up with new ideas for products/services, business and marketing strategies.
- Business Plans allow you to access the growth and success of your business by comparing actual operational results versus the forecasts and assumptions in your business plan. This allows you to update your business plan to a business growth plan and ensure the long-term success and survival of your business.
Business Plan Content
- Executive Summary
- Company Overview
- Industry Analysis
- Consumer Analysis
- Competitor Analysis & Advantages
- Marketing Strategies & Plan
- Plan of Action
- Management Team
The financial forecast template is an extensive Microsoft Excel sheet with Sheets on Required Start-up Capital, Salary & Wage Plans, 5-year Income Statement, 5-year Cash-Flow Statement, 5-Year Balance Sheet, 5-Year Financial Highlights and other accounting statements that would cost in excess of £1000 if obtained by an accountant.
The financial forecast has been excluded from the business plan template. If you’d like to receive the financial forecast template for your start-up, please contact us at info@avvale.co.uk . Our consultants will be happy to discuss your business plan and provide you with the financial forecast template to accompany your business plan.
Instructions for the Business Plan Template
To complete your perfect stationery business plan, fill out the form below and download our stationery business plan template. The template is a word document that can be edited to include information about your stationery business. The document contains instructions to complete the business plan and will go over all sections of the plan. Instructions are given in the document in red font and some tips are also included in blue font. The free template includes all sections excluding the financial forecast. If you need any additional help with drafting your business plan from our business plan template, please set up a complimentary 30-minute consultation with one of our consultants.
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Stationery Business Plan Template FAQs
What is a business plan for a/an Stationery business?
A business plan for a Stationery business is a comprehensive document that outlines the goals, strategies, and financial projections of a company specializing in selling stationery products. It provides a roadmap for the business, detailing how it will operate, market its products, and achieve profitability. The plan typically includes information on the target market, competitive analysis, marketing and sales strategies, operational plans, and financial forecasts. It serves as a tool to attract potential investors, secure funding, and guide the business's growth and development.
How to customize the business plan template for a Stationery business?
To customize the business plan template for a Stationery business, follow these steps:
1. Open the template: Download the business plan template for a Stationery business and open it in your preferred software, such as Microsoft Word or Google Docs.
2. Update the cover page: Replace the placeholder text with your business name, logo, and contact information. Add a catchy tagline or slogan if desired.
3. Executive summary: Customize the executive summary to briefly explain your Stationery business idea, target market, competitive advantage, and financial projections. Keep it concise and compelling to capture the reader's attention.
4. Company overview: Provide a detailed description of your Stationery business, including its mission, vision, and values. Explain the type of stationery products you plan to offer, your target market, location, and any unique selling points.
5. Market analysis: Conduct thorough research to analyze the Stationery market. Identify your target customers, competitors, and industry trends. Include data on market size, growth potential, and consumer preferences. Tailor the information to fit your specific location and target audience.
6. Products and services: Outline the different types of stationery products you will offer, including office supplies, personalized stationery, greeting cards, art supplies, and more. Describe their features, benefits, and pricing strategy. Highlight any unique or innovative products that set you apart from competitors.
7. Marketing and sales strategy: Define your marketing and sales approach to attract customers. Outline your promotional activities,
1. Open the template: Download the business plan template for a Stationery business and open it in your preferred software, such as Microsoft Word or Google Docs.
2. Update the cover page: Replace the placeholder text with your business name, logo, and contact information. Add a catchy tagline or slogan if desired.
3. Executive summary: Customize the executive summary to briefly explain your Stationery business idea, target market, competitive advantage, and financial projections. Keep it concise and compelling to capture the reader's attention.
4. Company overview: Provide a detailed description of your Stationery business, including its mission, vision, and values. Explain the type of stationery products you plan to offer, your target market, location, and any unique selling points.
5. Market analysis: Conduct thorough research to analyze the Stationery market. Identify your target customers, competitors, and industry trends. Include data on market size, growth potential, and consumer preferences. Tailor the information to fit your specific location and target audience.
6. Products and services: Outline the different types of stationery products you will offer, including office supplies, personalized stationery, greeting cards, art supplies, and more. Describe their features, benefits, and pricing strategy. Highlight any unique or innovative products that set you apart from competitors.
7. Marketing and sales strategy: Define your marketing and sales approach to attract customers. Outline your promotional activities,
What financial information should be included in a Stationery business plan?
In a Stationery business plan, the following financial information should be included:
1. Startup Costs: This section should outline the initial expenses required to start the stationery business. It may include costs such as equipment purchases, inventory, leasing or renting a store space, licensing fees, legal costs, and marketing expenses.
2. Sales Forecast: This section should provide an estimate of the expected sales revenue for the stationery business over a specific period, typically three to five years. It should include information about the target market, pricing strategy, and sales projections based on market research and industry trends.
3. Profit and Loss Statement: This statement shows the projected revenue, expenses, and net profit or loss for a specific period. It includes details of all income sources, such as product sales, services, and any other revenue streams. This statement helps assess the financial viability of the business.
4. Cash Flow Statement: This statement outlines the cash inflows and outflows of the stationery business. It provides a detailed analysis of the sources and uses of cash over a specific period. The cash flow statement helps determine if the business will have enough cash to cover expenses and meet financial obligations.
5. Balance Sheet: The balance sheet provides a snapshot of the business's financial position at a specific point in time. It includes assets (such as inventory, equipment, and cash), liabilities (such as loans and accounts payable), and owner's equity. This statement helps assess the business's overall financial health.
6.
1. Startup Costs: This section should outline the initial expenses required to start the stationery business. It may include costs such as equipment purchases, inventory, leasing or renting a store space, licensing fees, legal costs, and marketing expenses.
2. Sales Forecast: This section should provide an estimate of the expected sales revenue for the stationery business over a specific period, typically three to five years. It should include information about the target market, pricing strategy, and sales projections based on market research and industry trends.
3. Profit and Loss Statement: This statement shows the projected revenue, expenses, and net profit or loss for a specific period. It includes details of all income sources, such as product sales, services, and any other revenue streams. This statement helps assess the financial viability of the business.
4. Cash Flow Statement: This statement outlines the cash inflows and outflows of the stationery business. It provides a detailed analysis of the sources and uses of cash over a specific period. The cash flow statement helps determine if the business will have enough cash to cover expenses and meet financial obligations.
5. Balance Sheet: The balance sheet provides a snapshot of the business's financial position at a specific point in time. It includes assets (such as inventory, equipment, and cash), liabilities (such as loans and accounts payable), and owner's equity. This statement helps assess the business's overall financial health.
6.
Are there industry-specific considerations in the Stationery business plan template?
Yes, there are industry-specific considerations in the Stationery business plan template. The template will include sections and information relevant to the stationery industry, such as market analysis of the stationery market, competitor analysis, target audience and customer segmentation, product and pricing strategy, distribution channels, marketing and promotional strategies, and financial projections specific to the stationery business. These industry-specific considerations will help you create a comprehensive business plan tailored to the stationery industry, allowing you to address the specific challenges and opportunities of your business.
How to conduct market research for a Stationery business plan?
To conduct market research for a Stationery business plan, follow these steps:
1. Define your target market: Identify the specific group of customers you want to target, such as office professionals, students, or artists. Consider factors like age, location, income level, and buying habits.
2. Analyze the competition: Research your competitors in the stationery industry to understand their offerings, pricing, marketing strategies, and customer base. This will help you identify gaps in the market that you can capitalize on.
3. Conduct surveys and interviews: Create surveys or conduct interviews with your target market to gather insights on their preferences, needs, and buying patterns. Ask questions about their stationery preferences, shopping habits, and what they look for in a stationery store.
4. Study industry trends: Stay updated on the latest trends in the stationery industry, such as eco-friendly products, digital stationery, or personalized stationery. This will help you align your business plan with current market demands.
5. Analyze market size and growth potential: Determine the size of the stationery market and its potential for growth. Look for statistics, reports, and industry forecasts to understand the market's trajectory and identify potential opportunities.
6. Use online research tools: Utilize online resources like market research reports, industry publications, and trade associations to gather relevant data and insights about the stationery industry. These resources can provide valuable information on market trends, customer preferences, and industry challenges.
7. Visit trade shows and exhibitions
1. Define your target market: Identify the specific group of customers you want to target, such as office professionals, students, or artists. Consider factors like age, location, income level, and buying habits.
2. Analyze the competition: Research your competitors in the stationery industry to understand their offerings, pricing, marketing strategies, and customer base. This will help you identify gaps in the market that you can capitalize on.
3. Conduct surveys and interviews: Create surveys or conduct interviews with your target market to gather insights on their preferences, needs, and buying patterns. Ask questions about their stationery preferences, shopping habits, and what they look for in a stationery store.
4. Study industry trends: Stay updated on the latest trends in the stationery industry, such as eco-friendly products, digital stationery, or personalized stationery. This will help you align your business plan with current market demands.
5. Analyze market size and growth potential: Determine the size of the stationery market and its potential for growth. Look for statistics, reports, and industry forecasts to understand the market's trajectory and identify potential opportunities.
6. Use online research tools: Utilize online resources like market research reports, industry publications, and trade associations to gather relevant data and insights about the stationery industry. These resources can provide valuable information on market trends, customer preferences, and industry challenges.
7. Visit trade shows and exhibitions
What are the common challenges when creating a business plan for a Stationery business?
When creating a business plan for a Stationery business, there are a few common challenges that entrepreneurs often face. These challenges include:
1. Market Research: Conducting thorough market research is crucial to understand the demand for stationery products, target customers, competitors, and market trends. Gathering accurate data can be time-consuming and challenging, especially if the industry is highly competitive or rapidly evolving.
2. Identifying Target Customers: Defining the target customers for a Stationery business can be complex. Stationery products can be used by various demographics, including students, office workers, and artists. Understanding the specific needs and preferences of your target customers is essential for product selection and marketing strategies.
3. Product Differentiation: With numerous stationery options available in the market, it is vital to differentiate your products from competitors. Developing unique designs, offering high-quality materials, or providing specialized products can help attract customers and build a competitive edge. However, creating a distinctive product line requires creativity, research, and understanding of customer preferences.
4. Inventory Management: Stationery products often have a wide variety of SKUs due to different colors, sizes, and designs. Managing inventory levels and ensuring a steady supply of popular items while minimizing the risk of overstocking or running out of stock can be challenging. Implementing effective inventory management systems is crucial to optimize profitability and customer satisfaction.
5. Pricing Strategy: Determining the right pricing strategy for stationery products can be tricky. Balancing affordability with profitability, considering competitive pricing
1. Market Research: Conducting thorough market research is crucial to understand the demand for stationery products, target customers, competitors, and market trends. Gathering accurate data can be time-consuming and challenging, especially if the industry is highly competitive or rapidly evolving.
2. Identifying Target Customers: Defining the target customers for a Stationery business can be complex. Stationery products can be used by various demographics, including students, office workers, and artists. Understanding the specific needs and preferences of your target customers is essential for product selection and marketing strategies.
3. Product Differentiation: With numerous stationery options available in the market, it is vital to differentiate your products from competitors. Developing unique designs, offering high-quality materials, or providing specialized products can help attract customers and build a competitive edge. However, creating a distinctive product line requires creativity, research, and understanding of customer preferences.
4. Inventory Management: Stationery products often have a wide variety of SKUs due to different colors, sizes, and designs. Managing inventory levels and ensuring a steady supply of popular items while minimizing the risk of overstocking or running out of stock can be challenging. Implementing effective inventory management systems is crucial to optimize profitability and customer satisfaction.
5. Pricing Strategy: Determining the right pricing strategy for stationery products can be tricky. Balancing affordability with profitability, considering competitive pricing
How often should I update my Stationery business plan?
It is recommended to update your Stationery business plan at least once a year or whenever there are significant changes in your business. This ensures that your plan reflects the current state of your business and aligns with your goals and strategies. Additionally, it is advisable to update your business plan when you are seeking funding or making major business decisions such as expanding your product line, entering new markets, or revising your marketing strategy. Regularly reviewing and updating your business plan helps you stay focused, adaptable, and prepared for any challenges or opportunities that may arise in the Stationery industry.
Can I use the business plan template for seeking funding for a Stationery business?
Yes, you can definitely use the business plan template for seeking funding for a Stationery business. A well-written and comprehensive business plan is an essential component when approaching potential investors or lenders. The template will guide you through the process of creating a professional business plan that highlights the unique aspects of your Stationery business, such as your target market, competitive analysis, marketing strategies, financial projections, and more. By showcasing your business's potential and demonstrating your understanding of the industry, you increase your chances of securing funding for your Stationery business.
What legal considerations are there in a Stationery business plan?
When creating a Stationery business plan, it is crucial to consider various legal aspects to ensure compliance and protect your business. Some key legal considerations include:
1. Business Entity: Determine the appropriate legal structure for your stationery business, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different legal and tax implications.
2. Permits and Licenses: Research and obtain the necessary permits and licenses to operate your stationery business legally. This may include a general business license, sales tax permit, zoning permits, and any specific permits related to the sale of certain stationery items.
3. Trademarks and Copyrights: Ensure that the names, logos, and designs associated with your stationery business are not infringing on any existing trademarks or copyrights. Consider registering your own trademarks to protect your brand identity.
4. Contracts and Agreements: Develop contracts and agreements that govern your business relationships, such as supplier agreements, customer contracts, and terms of service. These documents should clearly outline responsibilities, payment terms, and any warranties or guarantees.
5. Intellectual Property: Protect your stationery designs, unique products, and creative content by considering patents, copyrights, and trade secrets. This can prevent others from copying or using your intellectual property without permission.
6. Employment Law: Understand and comply with labor laws, including minimum wage requirements, overtime rules, and proper classification of employees versus independent contractors. Have appropriate employment contracts and policies in place to protect both you
1. Business Entity: Determine the appropriate legal structure for your stationery business, such as a sole proprietorship, partnership, limited liability company (LLC), or corporation. Each structure has different legal and tax implications.
2. Permits and Licenses: Research and obtain the necessary permits and licenses to operate your stationery business legally. This may include a general business license, sales tax permit, zoning permits, and any specific permits related to the sale of certain stationery items.
3. Trademarks and Copyrights: Ensure that the names, logos, and designs associated with your stationery business are not infringing on any existing trademarks or copyrights. Consider registering your own trademarks to protect your brand identity.
4. Contracts and Agreements: Develop contracts and agreements that govern your business relationships, such as supplier agreements, customer contracts, and terms of service. These documents should clearly outline responsibilities, payment terms, and any warranties or guarantees.
5. Intellectual Property: Protect your stationery designs, unique products, and creative content by considering patents, copyrights, and trade secrets. This can prevent others from copying or using your intellectual property without permission.
6. Employment Law: Understand and comply with labor laws, including minimum wage requirements, overtime rules, and proper classification of employees versus independent contractors. Have appropriate employment contracts and policies in place to protect both you