Hey peoples , fun question, how much money you think these underground brands make???

I think that their are the big 3 independent brands right now. Up and coming brands that have within the past couple years really exploded. These 3 being Crooks, 10 deep and The hundreds. Excluding skate orriented brands ie Diamond. I guarantee you that all threee companies are doing fairly well. But if you noticed distribution is starting to loosen up, more accounts, and therefore more money. Everyone is trying to bank because the bubble is going to burst really soon. Each of these companies are getting picked up by international distributors. When you become international that is when the money starts flowing in. Distributors open up doors for shops that brands never even knew existed.

heres a dumb question....

how many of these companies are incorporated, partnerships, or sole props... if this is privileged info than thats cool. i am just curious because i am trying to figure out what to do with my own company in terms of taxes and what not.

pretty sure 10deep has been around longer than a 'minute'

in the profits discussion - might also factor the deductions inherent in running any independent business

- health insurance
- retirement savings (401k, etc)

most streetwear entrepeneurs are pretty young and might not be concerned but as you mature and look to settle down, start families, etc these become really important

...might be wise to keep a "day job" until you 'blow like nitro'

dont bother incorporating until you start making about 40-50K in profit a year. as far as sole prop and partnerships, depends on who's going in on with you.

so if you dont incorporate how do you establish yourself as a business? what protects you from liability and stuff? so basically your saying dont worry about paying taxes or reporting anything you do with your line as a business until you make enough to benefit from the incentives that come along with incorporating?

it's slang you dunce cap..

ya they have been around for 10 years, but until most recently (past year or two) have not been making money. Listen to the weekly drop interview with 10 deep. This has been a pivotal year for many brands.

so if you dont incorporate how do you establish yourself as a business? what protects you from liability and stuff? so basically your saying dont worry about paying taxes or reporting anything you do with your line as a business until you make enough to benefit from the incentives that come along with incorporating?

so do major independent company guys [10 deep/crooks/hundreds] all talk to each other, become freinds, and get each others clothes for free/discounted prices? or do u glare at each other from across the room at tradeshows?

If your business is a sole proprietership or a partnership than YOU (or you and your partner(s)) are completely responsible for all taxes, debts, and liabilities. There are different types of corporations and there are pluses and minuses to each kind but incorporating will limit or eliminate your personal liability. No matter what type of business you end up starting, you will have to file a tax return and, in most states, you will also have to report and pay sales tax. Getting a lawyer to help you set it up is the way to go (it's been many years since I set up my business but I think we paid around $500 in lawyer's fees to get everything up and running). One thing to keep in mind is that if you don't incorparate from the beginning than it can be a bitch to do so later-you have to change the name of the business, get a new bank account, pay all the fees, etc. Trust me I've been through it . Feel free to p.m. me if you have any questions and I'll try to answer them.

so do major independent company guys [10 deep/crooks/hundreds] all talk to each other, become freinds, and get each others clothes for free/discounted prices? or do u glare at each other from across the room at tradeshows?

,,,how much money do you think these brands bring in,,,brands that have blogs to show you their daily basis,,,like THe Hundreds, Mishka, Orisue, or 10 Deep, 3sixteen,,etc etc etc,,,are all of them living off of this or is their a second 9 to 5 job ....?

jonfang, I don't wanna sound douchey