Insurance for Event Venues & Wedding Venues

Insurance for Event Venues & Wedding Venues

If you’re opening a wedding venue or event venue, you’re making one of the largest investments in the industry. No other event or wedding pro is going to have to make such a large upfront investment— it’s just a completely different ballgame.

To ensure you protect your investment, you have to think more along the lines of traditional brick and mortar businesses. And what does that come with? Insurance.

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How to Legally Start a Photobooth Business

How to Legally Start a Photobooth Business

So, you're ready to turn your passion for capturing joyous moments into a thriving wedding photo booth business! Now, let's make sure your journey is as legal as it is fun….because let’s be real, drunk event guests LOVE a photobooth moment, and can get a litttttttle too excited about those tiny hat props… so let’s make sure we’re setting up your business to protect you legally.

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End-Of-Year Business Checklist- Let's end 2023 with a BANG (and not miss the new Corporate Transparency Act!)

End-Of-Year Business Checklist- Let's end 2023 with a BANG (and not miss the new Corporate Transparency Act!)

WE'RE IN THE HOME STRETCH, Y'ALL!

It's happening.  You've made it through wedding season (or are hella close!). But before you breathe that sigh of relief, make sure you've got your pieces in place for the end of the year.  Here's a quick list of things you need to make sure you've looked at to keep your biz green light on!

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Should a Photographer be a Sole Proprietor, LLC, Partnership, or Corporation? A quick breakdown

What’s an LLC? Do I need to consider a corporation? Can’t I just stay a sole proprietor?

These are questions almost every business owner asks!

Maybe you’re a new photographer and deciding on the best way to start your business. Or maybe you’re a photographer who has been in business for a few years and who wants to add some liability protection. Your big question? What in the heck do I chose for my business entity?

The majority of the business entities we see are one of four types: Sole proprietor, Partnership, LLC, or Corporation. Each structure has its unique role, spotlighting different strengths and considerations. Read on for a quick breakdown to help you choose the perfect pathway for your entrepreneurial journey.

1. Sole Proprietorship: The Solo Act

Pros:

  • Simplicity: Operating as a sole proprietor is straightforward with minimal paperwork. Heck, you might not even have to file anything at all.

  • Full Control: You make all the decisions and keep all the profits.

Cons:

  • It’s all on you, baby. Personal Liability: Your personal assets are on the line for business debts, judgments against the business, or expenses incurred on behalf of the business.

  • Limited Growth: It might be challenging to scale your business.

  • If you go, it goes. If something happens to you, the business goes kaput. No legacy there.

2. Partnership: The Dynamic Duo

Pros:

  • Shared Responsibility: Partnerships allow for shared decision-making and workload. Someone will always be there to help in a pinch, and you’ve got build in backup!

  • More Resources: Pooling resources with a partner can bring more money, skills, and connections to the table.

  • Business Bestie; Having someone to share all the stress can be a GAMECHANGER.

Cons:

  • Conflict Potential: Differences in opinion or decision-making can lead to conflicts between the partners. In fact, a 50/50 partnership is the riskiest of all, due to the high chance of “deadlock”— where the partners can’t agree on something critical and the company gets “frozen” because it can’t act!

  • Shared Profits: You split the profits with your partner(s).

3. LLC (Limited Liability Company): The Versatile Delight

Pros:

  • Limited Liability: The Owners' personal assets are generally protected from business debts, judgements, expenses, or anything incurred by the business (so long as you follow the formalities of keeping finances separated!)

  • Flexibility: Offers a middle ground between a partnership and corporation, with many options for management structure, taxation structure, and ownership structure (equity).

  • Pass-Through Taxation: Profits and losses can be passed through to owners' personal tax returns, making your taxes only a tiny bit more complicated. LLCs with more than one owner will need to file their Schedule Ks— unless they elect to be taxed like a corporation, which is more complex but can provide lots of tax benefits!

Cons:

  • Complexity: More paperwork and formalities compared to sole proprietorships or partnerships.

  • State Requirements: Regulations vary by state, adding an additional layer of compliance.

  • “Piercing the Veil” — both LLCs and Corporations can lose their limited liability protection if the owners are “comingling funds”— e.g. mixing personal and business finances.

4. Corporations: Structured for Scale

Pros:

  • Limited Liability: Owners' personal assets are typically protected.

  • Investor Attraction: Easier access to capital through the sale of stock. Photographers typically don’t need investors, nor is it worth the investor’s time to invest in something that won’t 5x their return. For this reason, I typically don’t recommend corporations for Photographers!

  • Perpetual Existence: The corporation and the LLC both continue to exist even if ownership changes.

  • Flexibility: While a smidge less flexible than the LLC, a corporation is also super easy to customize.

Cons:

  • Complexity: Extensive record-keeping and regulatory compliance.

  • Double Taxation: Corporations are taxed on profits, and shareholders are taxed on dividends.

Choosing Your Structure: Consider Your Business Needs

  • If you're a new solo business owner seeking simplicity and control, a Sole Proprietorship might be your entity choice.

  • For a dynamic duo with shared responsibilities, Partnerships provide a collaborative platform to grow.

  • If you crave versatility, limited liability, and pass-through taxation, the LLC may be your perfect fit. In fact, this is where I push most of my clients for my “day job"— it’s just too good to pass up that liability protection.

  • For those dreaming of investor allure, the Corporation might be your best bet But for photographers? This is RARELY the best choice.

In the business world, the right structure sets the tone for success. Carefully consider your business goals, risk tolerance, and growth plans to choose the structure that aligns best with your entrepreneurial vision when starting your business. 💼✨

Ready for the next step? Try This Article: Six Steps to Legally Starting your Wedding Business!

7 Contract Negotiation Tips for Wedding and Event Pros (from someone who went to law school!)

7 Contract Negotiation Tips for Wedding and Event Pros (from someone who went to law school!)

Everything is going awesome. You send out your contract and you’re SO excited to get started serving this couple.

…But then you get an email from Uncle Ned. Uncle Ned is a lawyer, and it’s his time to shine.

He’s taking this VERY seriously. And he’s ready to negotiate terms with you.

What’s a wedding pro to do?

Don’t worry— I got you.

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What is a DMCA Takedown or a "Copyright Takedown Notice"?

What is a DMCA Takedown or a "Copyright Takedown Notice"?

IP encompasses everything from photographs, to video, to notes, to client guides, to anything else you create or compose— even your brand! And one of the most effective tools for copyright holders is the Digital Millennium Copyright Act (DMCA) takedown notice, sometimes referred to as a “Copyright Takedown.”

But what is it? And how does it help— or hurt— Wedding Pros?

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6 Steps to Legally Starting a Wedding Business

6 Steps to Legally Starting a Wedding Business

Whether you’re a wedding planner, photographer, event venue, videographer, makeup artist, DJ, cake baker— ANYTHING— starting a wedding and event business can be an exciting and fulfilling career path.

However, before you start selling your products or services, it's important to ensure that you are operating legally— or you can face steep consequences (or fines!).

Here, we’ll outline the basic steps to start your business legally— and I promise, it won’t be painful!

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Copyright for Wedding Pros 101: The Basics (Plus One Pro Tip You Can't Miss)

Copyright for Wedding Pros 101: The Basics (Plus One Pro Tip You Can't Miss)

There’s a lot of chatter about copyright law recently with the launch of the new “small claims” copyright court.

But I’ve found that small business owners are just as confused as ever about the nuts and bolts of copyright law.

And honestly, it’s a COMPLICATED subject— so I can’t blame you! The U.S. Code doesn’t make it easy, and the constant updates to caselaw make it an absolute headache to follow. But that’s why you’ve got nerds like me who LOVE this stuff 🤓

Let’s strip it all down and start from square one…

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Independent Contractors: What they REALLY are and Why the Government is cracking down

Independent Contractors: What they REALLY are and Why the Government  is cracking down

Did you know-- despite what you call them-- that your Wedding & Event Biz's “independent contractors” may actually be employees? 

Say whaaaaat?

Yep. And misclassification can have some pretty tough consequences for both the company and the worker, including fines, back wages due, reimbursement for overtime and minimum wage payments, payment of back taxes, fines for state income taxes, and more. So in this "1099 Economy," how do we know who is what anymore?!…

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If I have a domain, do I have the trademark? Domains vs. Trademarks

If I have a domain, do I have the trademark? Domains vs. Trademarks

So many times people come through my door for trademark applications saying, “It’s probably fine, I got the domain name.”

And guess what?

That means almost nothing to me. Nada.

That’s because a domain name and a trademark have very little to do with one another.

Are they second cousins? Sure!

But in reality, people don’t really realize just how far apart they are. And many— MANY— folks are shocked when I tell them that just because you have— or don’t have— a domain doesn’t typically mean squat when it comes to trademarks.

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What does "Indemnification" mean?

What does "Indemnification" mean?

Take a look at a well written contract and you’ll probably notice a section with the word “INDEMNIFICATION.”

But once you start reading, your eyes kind of glaze over and things get…. confusing.

But indemnification— and agreeing to indemnify someone— is important. Like…. REALLY important. Like tens of thousands of dollars important 👀

So let’s take a crash course in indemnification and exactly WHAT it is you’re agreeing to— or having your clients agree to. >>>

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