My business will be set up as a corporation out of the state of Delaware. It will be founded in Delaware because that state has no corporate income tax and is the home of many e-commerce businesses. My physical factory will also be their because of shipping distance and operation costs. In order to incorporate myself I will need to file for a corporate business license. This will cost around $270 including all fees from both a legal consultant and fees from the state. Once incorporated I will no longer be personally financially responsible for my business and I will not be liable for my business’ operation.
I will also need to trademark my upside down “4” logo. That, depending on what state I register my trademark in will cost around $130 including the state fee and the fee for hiring a lawyer to file the papers. If I create templates that will be carved into the casket and one of them becomes a popular option for customers I may consider copyrighting that symbol so it is exclusive to my company. The cost of copyrighting a symbol or picture will be about $90 plus the fee for hiring a lawyer, making the total cost about $190. when I decide on what my companies name and website will be I will also need to trademark those names for about $130 each.
For insurance, I will need shipping insurance, insurance for my warehouse, and insurance for my employees because they will be working in a factory. My shipping insurance will need to be about $15,000 of coverage for each product shipped. That would cover both shipping costs and the cost of the product itself. My warehouse, including all the equipment within it, will need about 2 million dollars worth of coverage. In addition, coverage for my workers in case they are hurt on the job would be about $10,000 per employee totaling about $300,000. In total I would need about 2.5 million dollars worth of insurance. To pay for this much coverage I would need to pay about $10,400 a month.
