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    Sunday, December 2, 2018

    Snow Cone trailer. Help with splitting profits with partner? I could really use some insight. small business

    Snow Cone trailer. Help with splitting profits with partner? I could really use some insight. small business


    Snow Cone trailer. Help with splitting profits with partner? I could really use some insight.

    Posted: 01 Dec 2018 03:52 PM PST

    I've not done this before, but it seems like a great opportunity. A friend is selling his snow cone trailer. He has owned it five years and is moving out of state for his job. He has consistently brought in $25k and profited $12k each year. He has college girls work it for him and a great relationship and rent with the location.

    He is selling everything, equipment, etc. for $30k, turnkey.

    My brother and sister in law live there (my wife and I moved this past summer) and would take care of operations. Their jobs give them free summers, so they would work most shifts themselves. Because of this flexibility, they would also take the trailer to a few local festivals, too, something that hasn't been done yet.

    I would be able to handle the purchase investment, my brother and sister have no money. However, I completely trust them and have zero qualms about their honesty or work ethic.

    Where I need help is how to divide profits. They would be doing the work, since we're out of state. But the entirety of the investment would be mine. How would you suggest splitting the revenue?

    I don't want to hurt relationships, but want to be fair. I'd really appreciate any help. Thank you!

    submitted by /u/karateexplosion
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    Full website test, find out what are your pros and cons

    Posted: 02 Dec 2018 03:54 AM PST

    Small business idea

    Posted: 02 Dec 2018 03:48 AM PST

    I have what I feel is a great small business idea where I work from home by shopping online for cute shoes and handbags. I estimate I could get up and running for an initial investment of just $15k. What do you think?

    submitted by /u/59616D6D69654E6F6F62
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    Best Bank for Small Business?

    Posted: 01 Dec 2018 08:06 PM PST

    Hey everyone! I recently filed for an LLC and am in the process of designing a website to promote my private personal training/coaching services. I'm considering opening a business checking account so that I can track things more easily and charge people with credit card. I'm thinking of using square or stripe. I was wondering what banks other small business owners recommend and have had good service with. I'm currently with bank of America for personal checking and credit card, and online savings with ALLY. Also, would it be a good idea to open a business credit card for purchases for my business? Thanks for the input!

    submitted by /u/CoachingBusiness
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    Anyone sell their own branded replacement parts for popular items?

    Posted: 01 Dec 2018 09:05 AM PST

    One that I saw was a person that was popular on a billiards board (moderator) sold custom pool shafts. A lot of the branded pool shafts are in the 200 to 300 dollar range with unique tapers. He made those tapers and made them fit into major brands of billiard cues.

    I've also seen replacement earpads for headphones and other things like this. Do you have a business like this or have any case studies like this?

    submitted by /u/ShoemakingHobbyist
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    Sole proprietorship to LLC: insurance, taxes, etc?

    Posted: 01 Dec 2018 06:19 PM PST

    Boyfriend and I have a very small business. I do not make any money for assisting with administrative/financial/business duties (nor do I want it, I have my own full-time job), so we have just kept it as a sole proprietorship to keep things simple. This is how the taxes have been filed for the past few years.

    Looking to take the leap from sole proprietorship to LLC starting in 2019 due to needing general liability insurance and potential to take on more work from other companies with the condition that we are insured. We have had an LLC set up for a few years now, but as said above, we have not used the EIN associated with the LLC. We even have bank accounts set up, but have not transferred the W-9's over to the LLC.... So on that note, I have some questions/concerns regarding the move:

    1. What sort of tax implications would there be for going from a sole proprietorship and running funds through boyfriend's SSN to LLC with EIN? I'm assuming we would have to file for both?
    2. It sure seems like you have to have a business set up to have GL insurance, we haven't purchased up to this point due to that. Also, it didn't seem to make sense for us to have business insurance in the business name, but be accepting work as a sole proprietor.... Does this ring true to your experience?

    A little more information: We are located in Florida. Revenue has been around $50-$60K usually netting $35,000-ish. We use quickbooks self employed and I usually file taxes and make quarterly payments, etc.

    Appreciate you all!

    submitted by /u/essemily
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    Changing from salary to commission

    Posted: 02 Dec 2018 02:49 AM PST

    Currently I'm paying my employees a monthly salary, but I'm not quite satisfied on how things are going and wanted to shift to a 100% commission instead.

    Industry standard is that the employees receive 80% of the fee while 20% goes to the shop. I think the employees are going to be more aggressive in selling if I follow the industry standard. What's holding me back is that I'm a startup and customers won't be that numerous so my employees might be having a hard time earning if we are on a commission basis.

    Please enlighten me on this manner. BTW im from asia so some of our labor laws might be different.

    Pros of commission basis

    - employees would be more aggressive in selling

    -Since they would be more of a free agent it would mean fewer things to manage for me.

    Cons

    -I'm a start up and have fewer customers than my competitors

    -Employees might rush the job

    -Harder to find talents since my shop is a startup

    submitted by /u/catterpie90
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    Giving royalty

    Posted: 01 Dec 2018 04:20 AM PST

    How do y'all know how much royalty to give to a product designer/sketcher at the start-up stage? I am very new at this and this would be my first royalty offer. Thank you for any advice you all may have for this rookie. :)

    submitted by /u/TGOW_
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    hello

    Posted: 02 Dec 2018 03:24 AM PST

    Hey my channel is called krazy gamer the upcoming dinosaur channel with some variety but wanting to be the next home of dinosaur content want to see some videos click this link for more https://www.youtube.com/channel/UC1EEfLgTiGkKvorvU4UcVJQ

    submitted by /u/krazed_games
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    How would I start a small business?

    Posted: 01 Dec 2018 11:05 PM PST

    So I know this probably sounds dumb and vague, and it probably is, but bare with me lol.

    So, how do I start a small business? I want to "dip my toes" in the water a bit and see what it's like, but I'm not sure what type if businesses don't require extreme start-up time (Of course if it's q full time thing I recognize I wou need to out more work in), and even then I wouldn't know how to go about it, what laws do I need to be aware of, if I have a product how do I get it made, ,ect.

    submitted by /u/anonymous_secular
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    Looking for a simple link checkout

    Posted: 01 Dec 2018 09:02 PM PST

    Hello, i have a little side business selling used car parts. I usually deal with a certain type of car and find customers using instagram. Im looking for a website that would allow me to easily send my customer a checkout link, i would use paypal but not everyone has a paypal, something that they can checkout using a card or paypal account if they have one. That allows them to insert the amount they are paying or something along those lines, thanks👍

    submitted by /u/177CR
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    Grocery store / market owners

    Posted: 01 Dec 2018 07:43 PM PST

    I have some questions regarding how you take on product.

    I am researching ideas on how I can take my wild foods products, such as morels and wild onions etc. to grocers in my area when in season.

    I am capable of supplying 400lbs of fresh wild mushrooms throughout the 5 month season in western Canada on a biweekly basis.

    I want to approach some grocery stores and markets in my area to ideally set up a contract to deliver fresh quality wild mushrooms that are available from spring to fall on a biweekly basis.

    A few questions;

    • should I set up an appointment with the grocery manager at first by phone or in person.

    Or

    • should I just approach the grocery manager to offer the idea and talk on the spot

    • how you do you generally pay for orders coming in. Or is it paid beforehand?

    Just looking for any feedback, thanks in advance!

    submitted by /u/odieatos33
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    Brick and motor alarm system

    Posted: 01 Dec 2018 07:05 PM PST

    Hello,

    I have a brick and mortar business. Essentially an automotive garage. I already have bunch of Arlo cameras inside. Looking to alarm it as well but I'd like to do more a DIY style alarm system.

    Any recommendations. I've looked into abode seems ok. I have some smart home tech at my residence, like SmartThings which I don't really trust.

    My business partner isn't the most tech savvy so I'm looking for a user friendly setup. I'm tech savvy so complicated install doesn't bother me.

    submitted by /u/thknk
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    I cannot handle QuickBooks- Help!

    Posted: 01 Dec 2018 06:31 PM PST

    I dont know why I am just not getting this. I've googled & youtubed and the comprehension is not there.

    I have reconciled my savings & checking & cash accounts with Quickbooks- its all good and that makes sense to me.

    But then there is the Undeposited Funds account with a balance of $300 something and over 60 transactions, and an Accounts Receivable account with $-6 and over 60 transactions. I have no idea why there are any transactions here- I decided to try to delete one and of course it messed with my checking balance & I had to re-add it.
    I add all the transactions by synching my checking/savings accounts, so I dont understand why QB would call these undeposited as its literally recognizing it as a deposit from my bank account?

    I hope that made some sense, I really appreciate any help!

    submitted by /u/lauradian
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    Moving asset to new UK company

    Posted: 01 Dec 2018 04:11 AM PST

    I operate a number of subscription based Internet businesses through one UK Ltd company. They are all education based but in specific niches.

    Now, one of the UK specific ones is large enough to be broken out into a new company. It's doing around £60-80k in revenue.

    It makes sense to do this for the structure of the business to simplify our accounting, but also to make it potentially easier to sell (a number of parties have expressed interest, but selling as an asset means corporation tax vs 10% entrepreneurs relief for a share sale).

    Is it possible to move the asset to a new Ltd company (with me as shareholder, not a subsidiary) and what would the potential taxes be? I've tried to find info on this but it's not easily available. My accountant is looking into it, but I'd also like to figure it out for myself as well so I am better informed when they give me the options.

    submitted by /u/daftgit
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    Sole-proprietorship, any value to an S-Corp over a LLC?

    Posted: 01 Dec 2018 11:19 AM PST

    revenue is less than 100k/yr, tho expected to eventually grow beyond that. At what point does an S-Corp become a good idea? I assume it's not purely revenue based. What should I be looking at?

    submitted by /u/OriginalSimba
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    Past Due Customers and Clients...

    Posted: 01 Dec 2018 10:33 AM PST

    Happy Saturday everyone!

    I am currently in the process of launching a b2b debt recovery agency based in California. My goal is to provide small businesses and freelancers relief and guidance with collecting their past-due accounts and money judgments.

    I'd love to hear about your experiences with collecting from past-due clients/customers.

    1. What's your process when an account is past-due?
    2. What incentives have you implemented to ensure accounts are paid on time or early?
    3. Have you ever hired an agency to collect on behalf of your business in the past?
    4. What do you look for in a debt collection agency?
    5. If you've never hired one, what would be the ideal experience you'd look for in an agency?

    Any and all feedback is much appreciated!

    If there's anything you're curious about or if there's anything I can do to help, I'd be happy to answer any questions.

    submitted by /u/Art_SRM
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    How should I cheaply buy my domain, but with .ca, etc?

    Posted: 01 Dec 2018 07:39 PM PST

    How should I cheaply buy my domain, but with .ca, etc, so that people don't steal it/ make phishing sites?

    Thank you.

    submitted by /u/heimerdawg
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    How can I find an American manufacturer cheaper than Chinese?

    Posted: 01 Dec 2018 01:43 PM PST

    Does this exist? I sell wholesale plush (think build a bear) and I can't find American manufacturers that can make it, much less in mass quantities that are affordable. Where do you think I can search for this? I try and responses I receive from American manufacturers are they just don't have the abilities to make the plush. Am I missing some black market manufacturing list of companies?

    submitted by /u/Selenahanson
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    How can i extract email from facebook?

    Posted: 01 Dec 2018 10:05 PM PST

    Hey is there any way to extract email from facebook? for my business purpose i need to extract email from facebook.So please suggest me a tool that's pretty cool to extract email from facebook.thank you

    submitted by /u/Caitlyapleton
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    Consultant interested in expanding to products but have so many questions

    Posted: 01 Dec 2018 12:28 PM PST

    I am doing some consulting and online teaching right now and have plenty to do in this realm for a while, but I have ideas about additional business ventures that I might add or explore someday. I just have a couple questions on how I might go about it.

    First is, if I have a design for a product but want to license that out to a company instead of arranging the manufacturing myself, how do I pick the best company to partner with and propose my design to? Who do I need to get in front of and how do I find them?

    Second, my other option is a subscription box that doesn't seem to have anything like it on the market yet, which would need a lot of existing product. I'm not very keen on finding and approaching companies to negotiate a deal on their stuff, so is there a person I could hire to just do that? What would that job title even be?

    TIA! Sorry if this is kind of a weird combo of questions, but they are my biggest thought hurdles at the moment. Any other ideas and thoughts are welcome.

    submitted by /u/monroegreen9
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    How much did you pay for your small business website? How many pages does it have?

    Posted: 01 Dec 2018 11:38 AM PST

    Go to guide for Sole Trader, UK?

    Posted: 01 Dec 2018 09:50 AM PST

    Looking at doing a bit of freelance on the side of my full time job.

    Is there a guide with everything i need to do as a sole trader? After a list of dates of what/when I need to do it.

    Not looking at picking up loads of extra work, but a few jobs every couple of months.

    submitted by /u/thisisthegoodshit
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