Entrepreneurship is a challenging, risky, but potentially rewarding endeavor. If you open a painted furniture business, be prepared to deal with a number of business challenges, including the high costs of maintaining overhead for a showroom floor or substantial start-up costs to purchase woodworking equipment, lumber and paint if you choose to manufacture your own painted furniture. Because of these characteristics, you should open your business with a substantial cash position, and be confident of your ability to keep your doors open during the inevitable slow periods.
Pick a name for your business. Make sure you aren't infringing on someone else's name or trademark. You can conduct a corporate name search and trademark search using the appropriate links in the Resources section.
Get an employer identification number from the IRS. This is a unique identifier the IRS uses to account for all income going to your business and all transactions your business makes that are reportable to the IRS. Use the online application tool located in the Resources section on this page.
Select a business entity. You may wish to shield your own personal assets from any liabilities or lawsuits the business may generate by forming a corporation or limited liability company (LLC). Both an S-Corporation and a LLC are flow-through entities: They do not file tax returns of their own. Their profits and losses, instead, are carried forward onto their owners' personal income tax returns.
File articles of incorporation (for corporations) or articles of organization (for LLCs) with the Secretary of State's office in the state in which you live. You will generally need to include a fee for this service.
Obtain a business license. Generally, you can get a business license from the county in which your business is domiciled. Again, there is generally a fee for this service.
Enter one or more selling agreements. You may be selling furniture from a given furniture manufacturer or you may be recruiting retail outlets to sell your furniture to the general public.