Dad died suddenly, now I own a business...HELP! small business |
- Dad died suddenly, now I own a business...HELP!
- Being extorted by an art licensing agent, what can I do?
- Looking for some guidance
- Who runs a successful bar?
- How to run an effective fire sale
- Need help estimating website/app building cost? Get FREE consultancy and advice inside.
- Looking for speculation on why she's doing this.
- Get your Software MVP (Minimum Viable Product) for only €99!
- A what woukd you di in our shoes question.
- Landlord undercut sale of my small business (long)
- Promoting a new restaurant - 6 tips
- I started a business and got my friend to be a business partner but he took my business after a feud.
- Camera lending business?
- Question about writing things off
- Animation services
- Member Address same as Business Address for LLC?
- What were some considerations you didn't account for when hiring employees (not contractors) for the first time?
- Which health insurance aggregator do I use for buying insurance for my small business?
- ERP systems - quick overview and your experiences wanted
- Costs of ACA
- Need free consulting services? I’m your person!
- CRM, leading tracking and email automation
- Looking for Epos system for takeaway/home delivery start up (uk)
| Dad died suddenly, now I own a business...HELP! Posted: 08 Nov 2018 08:53 PM PST Hello all! I'm hoping you can help with my situation! My father recently (and suddenly,) died, and left me (his only child,) a fairly successful business that he operated for 15 years (it's a small hotel, in Canada.) I used to help my father with this hotel many years ago, but moved away to pursue other things. I am very capable at operating the front end side of things (tending to guests, managing staff, and managing reservations etc) but I have no idea how to "run" a business! I do not possess business acumen or credentials in this field. I don't know how to be a "business person," and understand my business' place in the world. I considered selling the business, but it seems fairly profitable, and I feel this is an opportunity for me to help it grow, and profit greatly from it. My father had no manager...he did all the "managing" himself. He has 5 housekeeping staff, and 4 desk attendants. I'd like to hire a manager, but.... However, my father had no accounting or payroll system in place. He uses manila envelopes to store his receipts, and delivers those envelopes to his accountant at the year's end. I cannot, with the "data," in front of me, ascertain if the business is floating. I have access to all the bank accounts and credit cards and I have access to the past 7 years of financial statements from the accountant. However I don't know how to read a financial statement and fully interpret it. I don't really know how to evaluate this business. I don't know if I have enough money to hire a manager, or make renos, etc. Sorry for the ramblings, it's been a long week. Also, I'm sorry for the poor grammar. English is not my primary language and I am typing on phone. What should I do first? Accounting system? Speak to accountant? Give up? Sell? Learn? help! [link] [comments]  |
| Being extorted by an art licensing agent, what can I do? Posted: 08 Nov 2018 01:32 PM PST Throwaway account Hey guys! Hoping you could provide me with some advice. Long story short, I have an ecommerce site featuring products that features different artwork. I source said artwork from different artists directly, stock photo sites, etc. Back in January, I made a deal with an art licensing vendor for the rights to distribute the works of one particular artist on our products. In hindsight, I accepted very poor terms (paid a large advance, high royalty %). As a result of our contract, I had to send the art licensing vendor quarterly sales report. Vendor sees I'm doing well, starts to pressure me into signing more crappy deals with him. I politely turn him down multiple times, but over months and months, he continues to try to get me into poor deals. Then about a month and a half ago, the licensing agent starts messaging us claiming that some of our art is stolen. It's not - we've made a number of deals directly with artists. At the same time, we receive multiple DMCA requests from our web host, telling us to pull the content down. The requests claim to be made from the artists we work with. They're not. Even the names are spelled wrong. And the emails are generic [firstname.lastname@gmail.com](mailto:firstname.lastname@gmail.com). For over a month, we receive maybe 6-8 takedown requests, all art we've legitimately sourced. Someone is on a mission to bring us down. Meanwhile, the licensing agent and I are going back and forth. I don't outright accuse him of filing the false claims, but it becomes obvious that he's sending them as a means to strongarm me into a deal. Despite the fact I've told him I'm not interested in signing a new deal, he essentially responds by filing more fraudulent takedown requests. In my latest email to him, I asked what he thought would make the takedown requests stop, and he responded by suggesting we discuss a large deal. I'm being extorted, and I'm not sure what to do. Any advice is so very much appreciated. [link] [comments]  |
| Posted: 08 Nov 2018 10:27 AM PST So a while back I started an Etsy shop and I'm sure most of you know Etsy has become less lucrative especially for us small time folks. My goal right now to is to get my product into local shops and stores, but have no idea how to approach the manager or owner to talk to them about putting my product on a shelf. I make small handmade wood cigar stands for those wondering and want to get into a local cigar shop. I make them all myself so by no means can I mass produce them, I'm not looking to enter big business retail stores. So besides just walking into a shop and straight up asking them, does anyone have any strategies that have worked for them or are there any small shop owners who have had people approach them the way I am looking to and what worked or didn't work? [link] [comments]  |
| Posted: 08 Nov 2018 09:06 PM PST I'm looking at getting out of the service industry. I'm interested in the running a series of bars. Anyone here have experience running successful bars? [link] [comments]  |
| How to run an effective fire sale Posted: 09 Nov 2018 04:16 AM PST I've been given the daunting task of trying to turn the business around in three months or we are forced to close our doors. I have re-done the budget and discovered that we have operating expenses to last a week So I am forced to slash prices in half. So far I have put a notice of this on the website reached out to our email subscribers and posted on social media. If there is anything else anybody can suggest I am all years thank you. We are an 18-year-old authentic American made industrial furniture company [link] [comments]  |
| Need help estimating website/app building cost? Get FREE consultancy and advice inside. Posted: 09 Nov 2018 02:17 AM PST Hello,I am a senior software developer with over 10 years experience working in the industry as a freelancer.If you are looking to know how much a new website or mobile app will cost, this is for you.I will give you a project estimate based on these factors:✔️ Build Complexity✔️ Build Duration✔️ Content Creation✔️ MaintenanceSo leave a comment or PM me with your website wishes (Everything is kept confidential) Thank you 🐼[link] [comments]  |
| Looking for speculation on why she's doing this. Posted: 08 Nov 2018 09:49 PM PST Hello. I've got this former business partner who I have a non-compete with that's good for another 1.5 years. I know she's violated this non compete by doing consulting work for one of her former associates. I will have proof of this very soon and sue her when the time comes. In the meantime, she thinks she is very sneaky with her prodding questions and other bullshit games. What I want to know is what her angle is and that's where you guys come in. I'd like just a brainstorm of ideas on why someone would possibly do this: She's been asking about my enrollment situation for my daycare. Consistently. She was also really mad that I expanded my capacity recently. The consulting work she's doing is helping her former associate open up a similar facility somewhere in the city. Could be in my turf, could be somewhere else. I know she's up to something because she refused to put in writing/sign a few months ago stating to stay out of my area with her consulting client. She gave me some bullshit story about how I need to start trusting people and how I need to trust her. I dropped it because I wasn't going to get anything signed and I could gain more by pretending to believe her bs. The reason I don't just cut all ties is because she's still useful in certain ways and I don't want her to start badmouthing my business. Ok so again why is she asking for my enrollment again and again? What's the angle here? (For the record my enrollment is below capacity right now and has been for a while and she knows this) (If my capacity is not filled why would she tell someone else to set up shop in a low demand area? Things just don't make sense no matter how long I think about it.) [link] [comments]  |
| Get your Software MVP (Minimum Viable Product) for only €99! Posted: 09 Nov 2018 01:14 AM PST My background is as a Web and Desktop Application Developer and I'm looking to build some projects to add to my portfolio, while also helping a small business. I'm offering to build the MVP of your proposed software for only €75! Alot of small businesses need custom software solutions and I'd like to help small businesses achieve their goals. I will dedicate 20 development hours to you, to build a basic version of the software you need. This is not a finished product but a basic working version. It may not have all the features you need, but will give you a feel for how effective a software solution can be for your circumstances. Is there any terms? Yes, You have to be willing to allow me to add it to my portfolio, and also an upfront payment of 50%. If you are happy with the MVP and would like to develop the software further I can also offer that. What exactly do I do? Mobile Development Website Development Desktop Application Development Software Prototype's Software Mockup's How do you contact Me? To contact me, pm me and include some information on the software you need! I generally reply within a few hours. [link] [comments]  |
| A what woukd you di in our shoes question. Posted: 08 Nov 2018 11:39 PM PST Hello. My wife(27f) and I(28m) are pregnant with twins. We're moving back east to get help from our parents. This pregnancy has opened opportunities for us that we need advice for. We both will be working remotely full time with our same salaries, which combined, is a little over 300k/yr. We have about 250k in savings and 50k in stocks at the moment. We want to invest in a passive type of a business, or one that will have minimal impact with our current jobs. A business that has the potential to grow into something that can support us and allow us to eventually phase into it full time. Some ideas we're considering are:
Could anyone chime in with their opinion here? I'm sure there are better ideas we can consider and would love to hear them. [link] [comments]  |
| Landlord undercut sale of my small business (long) Posted: 08 Nov 2018 05:13 PM PST I owned a successful specialty (candy, gifts) shop for 11 years. Rented the space (month to month, no written lease) from friends (not close, but more than acquaintances). I was out of there by time lease ended 2 November. They have run a business next door which I had wholly supported with my patronage, word of mouth, and social media posts. Always paid my rent, etc. I decided to retire and put my business for sale. Agreed with landlord the need for any potential purchaser to get their approval. Late, when I had decided just to liquidate, a serious potential buyer came along. The landlord approved her. Told me she was "great." Potential buyer and I hustled to get things ready (inventory counts, financing, etc.) together ASAP. Landlord indicated she was anxious about finalizing the sale and thus the tenant, but was otherwise happy to have a prospective tenant and for my business to continue. Meanwhile, a person emailed me about renting the property. I told him that it was almost certain to be rented to my prospective buyer, but always the ethical person, gave landlord's contact info to him. Meanwhile I'm still working on inventory and prospective buyer on her finances, business plan. Landlord had not told me or prospective buyer there was a deadline. I Came into the shop one day to find landlord showing space to man who called. Landlord told me "I'm just showing it." I had expected her to. An hour later, landlord told me she accepted a check from that guy. She had not called my prospective buyer to give her first right of refusal, nor had she contacted me (I was next door!) to ask me to get my prospective buyer to commit. Prospective business buyer backed out due to no other rentals available downtown. Adding to the insult is that landlord opened a holiday pop up shop in my former space until new tenant takes over, using my candy case because I can't find a buyer OR mover to date. Landlord is advertising pop up shop to "foster sense of community" which is completely hypocritical. Effects: —I lost thousands of dollars from losing sale of my inventory and fixtures, which I'm having to sell piecemeal out of my garage. —Small town lost my very popular store, which prospective owner was going to continue in same manner. —I am utterly disillusioned by what I perceive as unethical behavior by landlord. She is dead to me. — I am crushed by townspeople flocking to the "new" candy shop, especially when many know what my landlord did. She is bubbly and fun and I suspect she has lied about this event. Note: Small town with such business customarily done by a handshake. It never occurred to me to have my prospective buyer have landlord sign an offer of first refusal. I am working on moving beyond this, getting over my anger, although I have told this tale of betrayal to many. I have publicly disavowed any connection of my former shop to the "new" candy shop. Feedback/support would be appreciated: —Is even small town business now so cutthroat that people do this sort of stuff? —Was I totally naive? —Is small town business now about the dollar only? Do relationships not matter any more? —Has this sort of thing happened to anyone else? —Any suggestions about the doggone candy case? My efforts to find a buyer via FB and Craigslist and contacting potential buyers have failed. I'm tempted to call it yet another loss and just sign it over to landlord so I don't have to mess with it. — Any other insights? Please, no "you should have...." I know....I have no legal protection here. Thank you for reading. [link] [comments]  |
| Promoting a new restaurant - 6 tips Posted: 08 Nov 2018 10:58 PM PST Hey guys - we have compiled a list of must do's for the marketing of a new restaurant. the original (and more detailed) article was written on this link, given below. https://limetray.com/blog/promoting-new-restaurant/
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| Posted: 08 Nov 2018 10:27 PM PST I started a small business cleaning retail stores (CVS) last summer but because of lack of funds I asked a close friend of mine to help me start the business so he agreed... we bought used equipment and eventually worked ourselves up to new equipment... anyway this last month we got into a fight bc he cheated on his significant other... she found out and then bc he thought I had told her he made up a lie and told my partner that I was also cheating with some other girl. Anyway after this fight he blocked me on everything and because we kept the equipment at his house (I live in an apartment so I couldn't really keep it bc the equipment uses gas) he basically kept the business.... my business ended up making us good money and it was my only source of income... is there anything I could do to take back my business??? He doesn't want to give me anything back at all and worse of all he isn't even taking the business seriously [link] [comments]  |
| Posted: 08 Nov 2018 01:56 PM PST Hi, has anyone here tried high end equipment rental businesses? I've been hiring videographers for my current business (boutique fitness) and I was surprised to learn that many videographers rent a $7k camera for $300/day. Obviously there's a bit of risk that you'd have to address with deposits, etc., but the entrepreneur in me is thinking, is this another opportunity? [link] [comments]  |
| Question about writing things off Posted: 08 Nov 2018 08:34 PM PST How do you handle running a small business that can write off tons of things that you might pay for with your personal money? I'm unsure of how to "account" for that business-wise. Do I just add tons of expenses to my software (using Wave atm) and have it show ridiculous losses all the time, or do I keep track of things I can write off separately and then enter that in come tax time? I've purchased printers, sheds, tools, computer, water well ($18,000 with payments I could write off somehow for my plant nursery), etc. Any insight in to how others have handled this would be greatly appreciated. [link] [comments]  |
| Posted: 08 Nov 2018 05:07 AM PST I earned my bachelors degree in animation I immediately at a job doing something that was not related at all. So I've been in sales for a little over a year and a half now, and I really want to put my education to use. So my wife and I want to start a small business to provide animation/motion graphics/graphic design services two people in my area. Our plan right now is to build the website and operate from home. We would both continue to work at our full-time jobs but the hope and dream is to grow it to the point of working solely under the business for income. I think I will have two types of ways that people can pay for animation. First is that they could buy a block of hours and then use the hours for whatever work that they want. The second way is that I type up a proposal with certain checkpoints throughout the job to give them the chance to jump ship if they don't like the work I'm doing for bigger projects. could you guys share what you had to go through in order to have success for this type of business? How do you charge for your services? Thanks guys! [link] [comments]  |
| Member Address same as Business Address for LLC? Posted: 08 Nov 2018 05:04 PM PST Hello, i'm looking to open an eCommerce store in which I have rented out a virtual office space to do some work (which includes a business address). The Members are myself and my wife. When formulating the LLC, In addition to providing the virtual office space as the business address, I also placed the business address as the member address which is present in the operating agreement. The question is, is any issue with having the business address as the member address even though we don't live there? I'm concerned with issues of liability if that would make any difference. Thank you! [link] [comments]  |
| Posted: 08 Nov 2018 09:25 AM PST We teach Mandarin in private and group settings, and one of our founding principles is that teachers will be actual employees and not contractors. As we work toward modeling out the full cost of an FTE, I'm trying to make sure I capture all costs - FICA/SSA, unemployment, worker's comp, health benefits, etc., so that we can figure out the real break-even point. What are some costs that emerged you were not expecting when you first began to put employees (full or part-time) on your books? [link] [comments]  |
| Which health insurance aggregator do I use for buying insurance for my small business? Posted: 08 Nov 2018 01:03 PM PST For health insurance, I came across Wellthie, for P&C Embroker, and a bunch of others. Does anyone have any recommendations? Do I need a broker? [link] [comments]  |
| ERP systems - quick overview and your experiences wanted Posted: 08 Nov 2018 10:28 AM PST I'm on the hunt for an erp and have had a quick look at some free open source systems. I'd love to hear your experiences and opinions about them if you have any. (also a bit of a cross-post from a comment of mine in /r/erp ) Software that I've looked at: - Odoo - very userfriendly but I'm concerned about two things: the high cost factor prohibits rapid growth (which makes failures very costly), vendor lock-in with the odoo system. - ofbiz - this interests me, but it appears to be more of a framework than a system. i don't want to spend my time joining the dots. i want to extend on a system. and spending 6 months to work with the system could perhaps be spent better on other things - dolibarr - a french made system which was once given away by the french govt to new businesses. again limited documentation and lots of things in french. je ne parle francais pas! - erpnext - an indian-produced system which doesn't appear to have proven itself (at least not outside of india as far as i can see) - xtuple - seems great for small business. looks decent with a sensible layout and appears well thought out. - tryton - only had a quick glance, would like to hear more about it - adempiere - apparently superceded by idempiere - idempiere - a huge system that i'm only starting to understand. this appears to be what i'm leaning towards at the moment though i'm concerned about lack of documentation. there does appear to be an active community behind it though. with all the systems that i've looked at, i've yet to find a heavy-weight business make a press-release about their choice of software, or even any mention of it. i would like to hear opinions and experiences with the above or any other open source software! [link] [comments]  |
| Posted: 08 Nov 2018 09:04 AM PST My family owns a small business in the US with about 40 independent contractors working for us. I want to convert them to employees. I estimate doing so would increase my labour costs by about 30% before I consider the costs of health insurance. Everywhere I look, I cannot find the additional cost I would have to incur by offering health insurance, once I cross the 50 FTE threshold. Does anyone have experience with that ? [link] [comments]  |
| Need free consulting services? I’m your person! Posted: 08 Nov 2018 05:28 PM PST No gimmick, just like the title says! I am an Industrial Engineer with a specialty in logistics, and employed by a Fortune 10 company. I am looking for a volunteer opportunity to provide consulting services at no cost. Please DM if you are interested and we can discuss your needs and if I can provide any assistance in solving your problems. I have the following skills --
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| CRM, leading tracking and email automation Posted: 08 Nov 2018 01:33 PM PST I own a home cleaning business. Let's say we get a lead via PPC, we use Instapage for our landing pages. We capture the customer name, email, phone, size of their home and type of service they want. I'll call the customer and they don't answer. Then II manually go in and create a quote for them in our web-based software, that also is a booking form integrated to our site. Then thanks to Google Labs, I have multiple templates I created for different quotes. I go in Gmail and compose a new email. Edited name, size of home, and copy and paste the personalized quote. I have no way of knowing if they opened it or not. Anyone one of us at the company (we are currently 3 partners) can grab the lead, call them, and email them. We usually BCC each other on it but it's not a good way of tracking it. I'd like to have multiple touch points. This lead also imports to MailChimp, but I haven't had the time to figure out and automate the MailChimp lists I've created. We have past customers, PPC leads, and organic leads. Then it would be nice to have a CRM and have some ability with tasks to track existing customers complaints, credits on their account, etc. Our service booking software doesn't do it right now. I've been looking into multiple options but it would be nice to also have the ability to track AdWords. Not all leads are gonna become customers and it would be great to know an actual acquisition rate for every lead. I've been looking into Autopilot, ActiveCampaign, Aweber, CapsuleCRM, Pipedrive, ProsperWorks, Pipefy, Trello, Asana. Am I asking for too much? Any help would be appreciated. [link] [comments]  |
| Looking for Epos system for takeaway/home delivery start up (uk) Posted: 08 Nov 2018 07:21 AM PST Right so I thought I'd just go on eBay and buy some refurbished Epos but apparently not that easy! I've spent hours looking and it's all promises followed by awful reviews, people selling them from houses or just plain shitty looking. Who would have thought the Epos world would be so murky! Anyway I'm looking for something that can handle delivery/driver management, stock control, caller id, customer database and postcode database. Also be able to integrate with online and app ordering when I take that step. I'm leaning towards ICRtouch or Lightspeed as they are established however also pretty expensive! Was wondering if anyone knew of any lesser known/cheaper start up options they've had good experience with? [link] [comments]  |
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