But those making a living at clowning are also good business people. They developed a business plan, checked into their city laws, and settled on an accounting program through which they could easily track their income. Some even hired CPAs to set up their books, ensuring that they were taking every deduction offered.
Here are some business tips for you to consider:
1. Decide the venues in which you are going to operate. Know which environments you're most comfortable in. Can you deal with the long lines of kids wanting their faces painted at corporate picnics? Or do you prefer the more controlled setting of birthday parties? What age groups do you enjoy? Are you interested in donating your time to non-profit organizations, or will you only accept paying gigs?
2. Educate yourself on any and all tax loopholes. Take every tax deduction you can on mileage, costume cleanings, consumable products (such as balloons and makeup), reusable products (such as props), and your participation in conferences and camps. One clown told me he always charges his clients travel time, instead of mileage, so that he can deduct his mileage on his taxes. Who said clowns weren't smart?! Again, we're talking about only taking what's yours, not cheating the government. Rule of thumb: Keep Good Records.
3. Come up with the "magic number." By this, I mean decide how many hours you're willing to spend on clowning. Because while you're out there entertaining America, you won't be with your own family. A balance of work and family time is critical for clowns. If you're also keeping your full-time job, make sure your clowning doesn't take over so much of your free time that you start to resent it. An overwhelmed clown certainly isn't going to be able to inspire cheer in others.
4. Write up a 2- or 3-year business plan. Where do you want to be skill-wise and salary-wise? Having a plan will help you to stay on track.
5. Consider setting up a business banking account that is separate from your personal checking account. The upside is that you can deposit your earnings directly to the account, as well as write checks off the account for any expenses. And ask that any checks given to you by clients is written to your clown name (which you would have already tagged to your business account), so that that income is easily traceable.
