UPDATE: Partner selling to his Dad small business |
- UPDATE: Partner selling to his Dad
- Is anyone willing to share a complete business proposal for a restaraunt or bar so that I can see the kind of research I should be doing...
- Well, I just registered as a sole trader!
- Pricing model for consulting
- Penetrating a competitive market... Advice needed. Successful 24 year old Owner/Operator
- This is one of the best web designing company
- How does credit building work?
- Hey r/smallbusiness, I'm looking for advice on how to grow a family law firm
- I need some constructive criticism about my start up business.
- Marquees
- Software for managing workflow?
- Challenge course 15 years in business
- How to send/receive business texts from our Frontier landline?
- I caught my employee stealing company money, what can I do?
- Inherited my father's business..and debt. Credit card question.
- drivers licence adelaide
- Grow your business at a substantial level!!
- Tracking physical assets
- Advice on finding reasonably priced content creators (preferably non agency, not influencers either)
- Window Titning
- When your carrier loses a parcel - happy New year to Me!
- Question about mileage
- Sole-prop LLC and owner's draw / taxes - what am I doing?
- Wife and I starting businesses simultaneously - 1 LLC or two?
- If you're a small business owner, please do not create a regularly updated blog.
| UPDATE: Partner selling to his Dad Posted: 02 Jan 2018 06:13 PM PST Hey everyone, just wanted to give an update on what I posted here a week or so ago. Original Post: https://www.reddit.com/r/smallbusiness/comments/7ls1wr/5050_llc_partner_says_hes_selling_out_to_his_dad/ I ended up speaking with a lawyer just to see what my options were. Basically it came down to try to negotiate or last resort, close up shop and liquidate assets. My partner texted me and asked if I wanted to get some coffee and talk, so I met him at a friend's restaurant. That started off civil but he only wanted to offer me a 60/40 split of profits but keep ownership 50/50. He wouldn't listen to me when I suggested pay be based on hourly rates and countered with "Let's just close, I'm working on something else with a buddy anyways.". He wouldn't go into detail on what he was working on because he didn't want me to "screw it up" for him, but what he did mention sounded like it would be basically the same business and he would be working on getting it up and running while wrapping our shop up.I replied "That's fine, but we have a duty to each other and our current business and if I feel like your actions and decisions are in the best interest of that business and not ours I'll have to see what a lawyer thinks." That's when things got nasty. He stared yelling things like "Oh, you're gonna sue me!" "I will crush you" "You really think you want to play this game". Meanwhile I'm trying to stay calm, telling him to keep it down, and pay my check so I can get the fuck out of there. Once I got my food paid for I ended up having to tell him to shut the fuck up and get up and leave so he had no choice to follow me outside. It was actually kind of fun lol. Anyways after that I went to the accountants office to see what we would need to do to start closing up. The accountant ended up coming down to the shop and talked to us both. We finally came to an agreement after going back and forth for a while but we both just wanted to get it over with. Today I signed our agreement, along with handing some other things, and am now the sole owner, and I'm only paying half of what the accountant thought his half would have been worth. Now it's time for me to grow the business and implement what I've wanted to do for 2 years now. Thank for the help on my previous post. I appreciate it. [link] [comments]  | ||
| Posted: 02 Jan 2018 02:20 PM PST | ||
| Well, I just registered as a sole trader! Posted: 02 Jan 2018 03:53 PM PST Well im happy that I have done this, roll on 2018. Only issue is to provide the name of my business when registering with HMRC, should I have provided a 'trading name', so im not trading as myself? Etc if I want my business to be called Clowns R Us does that need to have been put down as my trading name? [link] [comments]  | ||
| Posted: 03 Jan 2018 03:43 AM PST Hi all, this may be a dumb or not-answerable question but I'm wondering how I would go about coming up with a pricing structure for the consulting business I've started. I currently do the same thing for a large organization so I know how much I make hourly but otherwise it appears that what other companies are charging for these services is kept under wraps. I honestly have no idea how I would go about coming up with numbers. Thoughts? [link] [comments]  | ||
| Penetrating a competitive market... Advice needed. Successful 24 year old Owner/Operator Posted: 03 Jan 2018 02:54 AM PST How do i penetrate my local market with my international imported goods. It is fabric which applies too farming which i will be importing then re-selling to farmer. I have gone to the main global source country for this textile and have spoken with manufacturers to get the best price possible. When i tried to entry the market with my first shipment of product (Fall 2016), a full 40' container ($50,000). I offered a 5%-10% discount than the current rate but the customers i approached went to there current supplier show them a lower price so he cut his price another 40%... What is the best way to deal with this situation? Drop prices and see who breaks first? once competition is gone and supply is controlled begin to raise prices... Is there an alternative i am not seeing? [link] [comments]  | ||
| This is one of the best web designing company Posted: 03 Jan 2018 02:30 AM PST Evolvan is in the market past 10 years and has managed to work worldwide they are masters in developing any kind of websites. you should sheck out their work at evolvan dot com. They did good job for my websites and i strongly recommend these guys. [link] [comments]  | ||
| How does credit building work? Posted: 02 Jan 2018 10:59 AM PST I feel a bit ignorant for asking, but is there a credit reporting agency for businesses like the ones for individuals? How does one report to them? I would love to be able to report that the other businesses to which I offer credit (terms) pay on time. This would create a positive credit report for them if they wish to apply for loans later, right? Or does that system not exist that way for businesses? I would also love for my landlord to report that my business has been dutifully paying rent on time. [link] [comments]  | ||
| Hey r/smallbusiness, I'm looking for advice on how to grow a family law firm Posted: 03 Jan 2018 01:36 AM PST Hey Reddit! So I'm shooting in the dark here but I figured this has to be the right place to reach out and ask what I want to know. A bit of context: I'm a young lawyer from a small European country with a fresh law degree (under 2 years PQE). Zero experience in running a business or anything of the sort. In 2016 I got a very good position in a major European law firm in Paris. I intended to stay there because the conditions are just so much better than in my home country but life happened and I just moved back a few months ago. My parents are looking to retire soon-ish and I've suddenly been tasked with taking over their small practice. They're old-school people in an old-school industry in a market which couldn't be more old-school. Their business and marketing plans are non-existent, mostly just taking what jobs they can get. That said, their client base is good, if very concentrated (cca. 80% net income coming from a single client). Now, my first question is of a general nature. I know nothing about management of a company (or sales, or even what most of these things are called for that matter). What I'm asking you kind people is to provide me with resources, pointers, literature, advice, 101s, and anything else you can think of regarding business optimization, marketing, finances and the like. But, knowing that the specific works better than general in most walks of life, just to name a couple of issues that I'm struggling with:
Thanks A LOT for reading. I am lost and worried about running the business into the ground because of my own ignorance. Any and all help is welcome! EDIT: formatting [link] [comments]  | ||
| I need some constructive criticism about my start up business. Posted: 02 Jan 2018 09:46 AM PST I am needing some advice on the overall appearance and my new e-commerce store... First off, I apologize if this is not where this post needs to be. I am simply looking for ways to tweak my website and make it more appealing to customers. I have launched the site and have not had any sales. I do not have social media, so any ideas or other ways to promote my business would be great too. Obviously, I'm going to have family and friends promote once I get it to a place where I think it needs to be but I am 100% new to this. Any info would help! Thanks in advance! The site is www.cedarandplaid.com [link] [comments]  | ||
| Posted: 03 Jan 2018 01:11 AM PST To provide our clients with the highest quality marquees we source and import the best quality raw materials from around the globe. marquees is available for every occasion and an event like weddings, birthday bashes, etc. For more detail http://www.allpartyhire.com.au/08 8235 2316,0417 000 395 . [link] [comments]  | ||
| Software for managing workflow? Posted: 03 Jan 2018 01:02 AM PST Happy new year r/smallbusiness! For the past 2 years, I've just been so focused on client work for my migration business that I haven't yet put much thought into systemising our processes. Now that I have some breathing space, I really want to get into this because I believe it can really help increase our efficiency and help us scale-up the business! I've quantified the tasks of our different services into 15-minute blocks (e.g. collecting documents = 2 units, checking documents = 1 unit, etc.). I've also allocated the tasks to different positions for staff. I'm looking for software that can measure how many "man-hours" we have left for the month, so I can give my clients a more accurate estimate for completion. I would prefer this to be able to predict workload based on the workload of individual staff members. I also want something that can measure how many of these 15-minute blocks have been performed by each staff member so that we can report on KPIs, etc. I've looked at monday.com and wrike but they don't seem to have those two things that I need. Do you guys have any suggestions? Any ideas on how else I should formalise our processes? Thanks for your help fellas! [link] [comments]  | ||
| Challenge course 15 years in business Posted: 02 Jan 2018 11:13 PM PST I founded Adventura in the summer of 2003. The mission was to provide actual team building based on my college degree. Adventura is the product of many many years of passion and struggle. Passion because after years of searching for the thing that I love doing, I found it in the field of experience-based learning. I am continually amazed by the incredible energy teams and leaders gain from my work. Struggle because even after 15 years I face constant challenges with growing the company and managing funds. The people who have committed themselves to work here are the lifeblood of the company. We, all of us, are not typical at all. Every single employee is an ambassador to each customer and passer by. We go out of our way to help people really connect with their experience as well as with themselves. In the beginning, I was faced with trying to find a location to build our challenge course. Not wanting to be too remote, and having to rely on people far more powerful than I, created a scenario wherein I am not able to truly control my destiny. I have to lease land. But I did come up with a rather ingenious use for storm water drainage ponds.. we build our course in 2003 over the storm water retention ponds of the Redhook Brewery in Woodinville, WA. When we started, this area was completely overgrown with blackberries. Over the last 15 years I am proud to say that we've turned this area into a rather unique park. Creating this came at a price though... as you can imagine, nobody was interested in the vision I had for the park, least of all the land owner. So every improvement has been on our dime. And that, is a tremendous source of pride for all of us. During the journey, we've faced obstacles from the city, the county, the state, and even the land owner. But we persevered. An in December, 2017, the company that owned Redhook sold the entire property. Which is a gift straight from the universe. The new owner understands my vision and is encouraging us to push for growth. I have spent the last three years preparing for this moment. Actually, probably longer, but this feels like the moment we've been waiting for. I have gambled every penny I have to get us to this moment and now my fate and the fate of all those who've invested their sweat and hard work into Adventura rests with public awareness of our existence and a willingness to come play, learn, and grow with us. I've been thinking about ways to spread the word about Adventura. We've never been a company that buys advertising. We've always relied on the satisfaction our customers get to drive the motor of word-of-mouth. And for many years this has worked well. So one idea that was discussed was writing here. Not to say hey buy our stuff, but to say hey, Adventura exists and is unique.. maybe give us a look, maybe give us a try, and maybe let us know you found out about us through Reddit. [link] [comments]  | ||
| How to send/receive business texts from our Frontier landline? Posted: 02 Jan 2018 11:45 AM PST Texting is becoming more and more important for us as a brick and mortar. What are our options? We have phone and internet through Frontier. [link] [comments]  | ||
| I caught my employee stealing company money, what can I do? Posted: 02 Jan 2018 10:55 PM PST
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| Inherited my father's business..and debt. Credit card question. Posted: 02 Jan 2018 03:17 PM PST My father died in October 2016. My mother was the executor of the estate and she and I handled everything in probate. She now is the absentee owner of the business, I run the day to day and handle decision making. Most of the debts are squared away, being paid. The majority had the business as a corporate guarantor, so no issue with his death there. The one outstanding debt I have a question about is the business Cap One card with an outstanding balance. It's in his name and the businesses. We have no issue continuing regular payments, but I'd like to get it out of his name. If I inform Cap one he's deceased will they close the card? Will they demand payment in full? We use it regularly, and I'd rather not try to find another card with as good of cashback perks. [link] [comments]  | ||
| Posted: 02 Jan 2018 10:44 PM PST Welcome to ASM Driving School, situated in South Australia.ASM Driving School offers a professional,caring approach to helping you achieve your goal and gaining your drivers licence adelaide.Preparing for your Drivers Licence ASM offers driver training. We offer competitive rates and will work around your timetable.No driving experience needed, just Call now to make a booking. For More Information Call Us On 08 8232 1111 OR Visit Our Site http://www.asmdrivingschool.com.au/drivers-licence-adelaide [link] [comments]  | ||
| Grow your business at a substantial level!! Posted: 02 Jan 2018 10:23 PM PST | ||
| Posted: 02 Jan 2018 12:28 PM PST We are currently going through a major expansion and restructuring of the company. As part of this change, I want to start tracking our physical assets for tracking and tax purposes. I was wondering if anyone had any software recommendations for asset trackers that they could share. Most of our assets will remain stationary, assembly and packing benches, shelving units, forklift, pallet jack and a small quantity of IT equipment. [link] [comments]  | ||
| Advice on finding reasonably priced content creators (preferably non agency, not influencers either) Posted: 02 Jan 2018 08:57 AM PST Hey everyone! Been following this page for a while and have learned a lot, so thank you for that. I run a super small consumer goods business that relies heavily on pretty lifestyle photography. I've been doing pretty well getting content from bloggers in exchange for product and a small fee. But I' finding this strategy a little limiting on it's own. Does anyone have any tips on finding dedicated content creators (not bloggers or influencers) that do photography and styling in house for not a billion dollars? Thanks in advance! [link] [comments]  | ||
| Posted: 02 Jan 2018 09:09 PM PST Whether you need an Automotive, Residential or Commercial window tint, or you would like your vehicle window protected with window film, our staff has over 28 years of experience in the industry to provide you with the highest quality window tinting installations available. For More Information contactus on (08) 8294 4466 OR visit our site http://www.accreditedwindowtinting.com.au/ [link] [comments]  | ||
| When your carrier loses a parcel - happy New year to Me! Posted: 02 Jan 2018 07:36 AM PST I've just been informed a parcel I shipped 3 weeks ago hasn't arrived and is potentially lost as it was going to another country. Not likely courier insurance will cover the value (confusion on my part for insurance values 🤢) but extensive seaches being carried out before I think about replacement costs. Happy New year to Me 😖 [link] [comments]  | ||
| Posted: 02 Jan 2018 10:28 AM PST I was wondering if anyone knows about business mileage? I know the 2017 rate is $0.535 per mile. Can I deduct to a location and back? Or is it one way only? [link] [comments]  | ||
| Sole-prop LLC and owner's draw / taxes - what am I doing? Posted: 02 Jan 2018 04:13 PM PST Hey guys, I know this won't serve as official tax advice (I'm currently looking for a small biz CPA in my area). But I'm having trouble wrapping my brain around the best way to calculate and track my taxes owed based on taking an owner's draw from my sole-proprietor LLC. 2018 will be my first year as a fully self-employed person, so I want to get start fresh with tracking. For 2017, I basically overestimated my taxes on my net profits and have saved a sum for my upcoming tax bill. Questions, though. If I'm going to be taking somewhat regular draws, is it worth running it through a payroll service like Gusto, for self-employment taxes? Should I just calculate self-employment taxes myself on my draws, and then make sure I also track total net profits of the business at the appropriate estimated tax rate, and set aside the correct amount aside for income taxes? I should not calculate income tax on my draws AND all total profit, correct, because I pay taxes on the net profit regardless of my draws? Random example: If my net profit is $40K for the year, and I've drawn $20K, I should calculate and withhold self-employment taxes on the $20K, and withhold enough to cover income tax on $40K? [link] [comments]  | ||
| Wife and I starting businesses simultaneously - 1 LLC or two? Posted: 02 Jan 2018 01:13 PM PST I'm a freelance marketing consultant, made mid-five figures last year and will am well into six-figures now, so I certainly need to LLC it for the tax benefits. My wife wants to start an e-commerce business and does need an EIN and IRS industry code (I think) in order to get wholesale access to the things she wants to sell. I know the ecomm business can be started under my LLC, but I'm not sure if she will still be able to get wholesale pricing if the EIN/industry code doesn't match being in the apparel business. For simplicity, I'd like to have it all under one general LLC and have the LLC be in both our names w/ 2 DBAs, but there seems to be a lot of pros and cons to either direction. Anyone been in a similar predicament? [link] [comments]  | ||
| If you're a small business owner, please do not create a regularly updated blog. Posted: 02 Jan 2018 12:59 PM PST I see this advice around here a lot, and I just want to say that it's not a good idea. The only purposes to have a blog are either to have something that Google will like, or that people on Facebook will like. In other words, you should write something that answers a question that people commonly type into Google, or something that is the sort of post people would share with one another through Facebook or Reddit(like a "how-to" guide, or a collection of resources). Think about it: when's the last time you went to the blog section of a small business website? Never, right? You find specific info through Google, interesting links through Reddit, and stuff that your friends want you to see from Facebook. If you create other types of posts, you're going to drown out the posts that people would actually want to see from you. Besides, even if you can get people to go to your site through stuff like "10 Hard Truths About Management That Nobody Tells You" (to take an example from Hubspot's blog), what do you expect them to do then? Are those your target customers, who will then purchase your services or product because of how interesting your 10 Hard Truths are? Probably not. So, focus your energy on other things. Write one blog post a month, if that. Don't fall into the trap of writing a bunch of stuff that nobody reads. [link] [comments]  |
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