MadeMoments.com operates as a single member LLC that fulfills high end gifts of Champagne and chocolate to our customers' clients, partners, prospects, etc.
I've been operating essentially as a sole proprietor with a few part-time/1099 contract employees who help with our shipping/fulfillment operations.
As we cross the $1M run rate, and the entire business (currently) solely relies on me, I'm looking for guidance on the next steps in our growth.
- At what point does it make sense to hire myself as an employee of the company and pay myself a salary, provide some sort of benefits, etc? What are the pros and cons of that?
Does anyone have recommendations on payroll/benefits companies that can help facilitate this for a single employee operation?
- How can I protect the business against any accident or illness that may occur which could take me out of the game for a period of time? What business continuity protection is out there?
The workload doesn't (yet) justify hiring anyone. But as a one-man show, there's high risk of loss of income if something were to happen.
What other resources are out there for small business operators as our business grows?
Thanks for your input and support of this community!