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    Tuesday, October 1, 2019

    Breaking down a business plan small business

    Breaking down a business plan small business


    Breaking down a business plan

    Posted: 30 Sep 2019 03:29 PM PDT

    I run a small music school and have accidentally enraged one of the teachers.

    Posted: 30 Sep 2019 02:33 PM PDT

    The teacher is under the impression that I promised them more hours. I don't think I did, but I am willing to accept that I gave them that impression.

    I told him yesterday that I had hired another teacher to teach an instrument that he (the first teacher I'm talking about) doesn't play as there is a lot of demand for that instrument but not as much for his right now. He's already working 2 and a half full days a week with space left on those days for any new students that come along, but he's demanding that I get rid of the new teacher to leave space for him to teach that day in the hopes that he can fill it up. Getting rid of that new teacher involves disappointing her and her students who are eager to start. The guy who wants me get rid of her does not have enough students to make it viable for me to rent the space so it does not make financial sense for me to do so.

    I don't want to be some shifty asshole who only cares about the bottom line. I would hope that everyone working with me is happy. The more students he has the better for both of us, and he has been great up until now so I don't want to treat him like a discardable prop. Having said that, he is accusing me of being shady and has been very confrontational in text messages. That makes me hesitant to keep him on and give him more students now even if there is demand. Regardless of who is in the wrong here, I don't think it's a good idea to employ someone who doesn't trust you.

    I'm curious to hear anyone's thoughts or suggestions. Am I in the wrong? What should I do if so? What should I do if not?

    Thanks

    submitted by /u/nylophone
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    Employee leaves store key in front of door without notice

    Posted: 30 Sep 2019 07:22 PM PDT

    So a new hire, hasn't really started full time yet, decided to call in sick Friday morning before her opening shift, OK. Didn't hear back from her until Sunday night, the day before she's supposed to start full time. She tells me due to unforeseen events she can't work anymore and she'll drop off the key tomorrow(which is today). I have a salon and I booked a lot of extra appointments this week thinking I had an extra hand which fucked me over completely for the week but thats besides the point. This girl leaves the key in front of the door that the key opens(my storefront), Im in a very busy plaza with lots of foot traffic so this could have gone very badly. One of my clients walk in with it and says she found it on the ground outside my door. I text the girl asking if she's going to drop off the key (as if I don't have it) and she says she left it under the door LAST NIGHT. It sat outside the door ALL NIGHT and morning, I'm so upset about this. What should I do?

    submitted by /u/IDontPullOut1
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    Best books to read about starting up a new hostel/guesthouse business?

    Posted: 01 Oct 2019 04:12 AM PDT

    Looking to set up a small UK based hostel with about 10 bedrooms being the absolute maximum. A few bunk rooms, a few double rooms.

    Are there any books in particular that cater to this idea?

    Any books at all that you'd recommend reading before/whilst starting such a venture?

    Any feedback would be great, thanks!

    submitted by /u/TykheEris
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    Starting a questionable business

    Posted: 01 Oct 2019 04:02 AM PDT

    Hello! For the last year and a half I've slowly gotten deeper and deeper into my hobby of aquariums. Last weekend I visited a small mom and pop shop dedicated to rare freshwater fish and it opened my eyes and something clicked in my head. I want my own aquarium store. I've done some research on this page and the general consensus is that there is no longer money in the family owned pet store world due to your big Petcos or Petsmarts. Reading all of those stories kind of put a damper on my excitement but I'm not going to let it ruin this dream. I'm thinking of starting small and setting up in my extra room in my house and trying to establish my name online to see if maybe it's something that could take off? This is something that I'm truly passionate about and would love to do someday as my career. I'm 19 with no debt so I feel like this is the perfect time to start saving and getting my feet wet.

    If you have any positive feedback, advice or stories that may help me. Please feel free to comment them below!

    submitted by /u/lexkb
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    Finding obscure, easy grants for your business

    Posted: 30 Sep 2019 10:25 PM PDT

    One of my friends have come across a six-figure VA grant that was open for applications for only a month. He said that because it was not publicized and it was very specific, not even enough number of people applied for it.

    How do you track whether these kinds of obscure, easy grants (from various US government agencies) open up for your business? Is this worth pursuing?

    submitted by /u/karakitap
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    How do I get more commercial interior design/architecture clients?

    Posted: 30 Sep 2019 08:19 AM PDT

    Hi everyone, I'm the owner of an interior design firm that primarily focuses on commercial spaces (think restaurants, bars, retail, hotels, etc.). We're based in NYC, so even though our target market is niche, there's usually plenty of potential clients out there. I'm trying to figure out how to reach these clients before they start their new projects.

    Up until now, we have been mostly relying on our network and word of mouth, which has brought in a steady stream of projects. I'm worried that we've exhausted our close network, so I would like to have more potential projects in our pipeline. We've also been trying to expand our network through linkedin and cold emails to realtors, contractors, architects, hospitality consultants, and other trades within the industry.

    Does anyone have any ideas or feedback of how I can reach more clients? I would really appreciate any thoughts.

    Thanks so much!

    submitted by /u/ftecha
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    Hiring an accountant

    Posted: 30 Sep 2019 05:09 PM PDT

    OK I've been putting this off for too long. I am sole proprietor of a freelance web development business that I've been doing for about ten years, usually just about getting by and thus not paying too much in taxes. Some of that time I was also employed so the tax stuff worked out because of that. Currently I'm doing it full-time, no other sources of income, and I'm doing it all without any employees, except for very occasionally hiring someone on Upwork.
    Now I'm finally doing much better than squeaking by (100k+ income projected this year) and I realize I really need to get serious about this, and do more than just use TurboTax to file as a sole proprietor every April. A quality problem to have, for sure, but definitely one I need to solve. For one thing I've heard that incorporating can save you a lot of money in taxes. So, does anyone have recommendations on how and where to find an accountant? People who have hired accountants, was it worth it for you? Has anyone had success just doing all the incorporating, tax filing etc. themselves and can recommend doing it that way?

    Oh, I should say I live in the US. I live in California but have heard that incorporating in another state can be a lot cheaper, and I'm definitely open to hiring an accountant from wherever, if they know their stuff and are reputable.

    submitted by /u/strangeloopsfordays
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    Buy a Home for a Small Scale Sewing Business?

    Posted: 30 Sep 2019 08:41 PM PDT

    What would you do?

    I only have enough money to either buy all the sewing equipment I need or put a down payment for a house.

    I currently live at my parents and have no room for the machines.

    Should I buy a home for room for these machines? It would be about $150k home. Down payment would be a little over $30k with closing costs.

    I plan on buying a home for myself anyways. Although this home is mainly going to be purchased so I have room. If I don't buy a home, I will have money to purchase the machines, but no room for them.

    Renting industrial space is actually expensive as hell and would rather kill two birds with one stone with a house. Parents are quite restrictive so I need to get out.

    Machines can be quite loud, apartment/condo wouldn't work.

    submitted by /u/ArcanoBot
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    Payroll Tax question

    Posted: 30 Sep 2019 06:14 AM PDT

    Hi, I recently opened a business and am using Quickbooks for payroll. I live in a college area so I have employees from 8 different states.

    Is there a way to get around filing payroll taxes with each state? That's what it seems like Quickbooks is leading me towards.

    submitted by /u/ghost3737
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    Tuition Centre, how to be different?

    Posted: 30 Sep 2019 09:36 PM PDT

    I live in an area which has quite a few tuition centres, all of which offer pretty much the same thing.

    How can I stand out from the crowd whilst keeping the foundations of a tutoring centre? Can I introduce something else which indirectly helps children with education?

    Any ideas are welcome.

    submitted by /u/DontDoTheDo
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    Do you buy on price or value?

    Posted: 30 Sep 2019 05:26 PM PDT

    I have served small business owners for a long time in various capacities. For some reason, and this could be my own personality projected onto others, I feel like small business owners only care about the price when it comes to purchasing what they need for the business.

    When you purchase something for your business, a product or a service or an employee even, do you consider the value it will bring to the company? Or do you just think, I need a sign on the door because that's what businesses do so let me find the cheapest provider in town?

    For me, I did not learn to consider value until a decade into the game. I had always hired inexperienced staff because it was cheaper and I could train them in a months time. I realized eventually what a high turnover I had and that I was spending a lot of my own time teaching instead of bringing in more business or improving. I started to look for experience in the 5 year range and hired those with good work history and references. The value of that change was huge for me. I was less stressed and I had more time to do other things rather than manage low level employees. It cost me more at the end of the week but in the long run it made more. Better production, less stress and more time for myself to do better business.

    submitted by /u/ifelseandor
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    Should I use my parent's address as my registered agent for an LLC?

    Posted: 30 Sep 2019 03:04 PM PDT

    I'm 20 years old and trying to register an LLC in North Carolina. The last part of the form I need is the registered agent address. Since I am still in college, I don't own or have a permanent residence and I was wondering if it was a bad idea to use my name, and my parent's address (who live in NC) as the registered agent? Would there be any legal issues with doing this?

    If I should't use their address, I was thinking of using a registered agent service instead.

    submitted by /u/negnatz
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    Sales Tax Scenario

    Posted: 30 Sep 2019 08:24 PM PDT

    Hey everyone, I have recently gotten into customizing (engraving) products that I sell. The engraving is an upcharge over the current price I sell the product for. Do I need to charge sales tax for the service provided in addition the the cost of the product.

    For simplicity sake, say I have a product that costs me $10 that I normally sell for $20 and would sell for $25 with the engraving. Do I only need to charge sales tax on the $20 for the actual product and not the service?

    While this is a trivial amount for a single unit, I plan on doing this in bulk sales of 50 or more.

    A further question is to whether or not I could sell the products at cost ($10) on one transaction and the sales tax would only be applied to that and I would charge $15 per unit for the engraving which wouldn't be taxed.

    Obviously this really only benefits the customer as they would pay less sales tax (although they would know the true cost of my products) and I would still get my $25 per unit.

    Is this just a gray area in the system or is there something I am missing?

    Thanks!

    submitted by /u/buschdelight
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    What are some useful event planning tools and software for a startup?

    Posted: 30 Sep 2019 06:17 AM PDT

    Air Force SBIR/STTR Opportunities

    Posted: 30 Sep 2019 08:56 AM PDT

    Good morning!

    My name is Dave and I'm part of the Air Force SBIR/STTR outreach. Part of my job is to attend conferences, SBIR Road Tours, and SBIR regional and national events to promote our program. Kind of sad to admit this, but, I've been on Reddit for years under my other name and have handled all of our social media accounts (Facebook, Twitter, Linked-In) but failed to do any work here. Personally, this is where I spend most of my internet time! Whether it's looking up funny pictures, finding out what's happening in Dayton, or dozens of other things, I'm nearly always on Reddit.

    So, I'm here to field any questions you might have about the program, process, Air Force SBIR Pitch Days, AFWERX... anything! If I don't know the answer, I'll be sure to try to find it for you. Also, if you have cheers or jeers, let me know. Our program is doing a lot of growing and I'd like to help and bring it to the attention of our managers if possible.

    Thank you!

    https://www.afsbirsttr.af.mil/

    submitted by /u/USAFSBIRDave
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    Question about ADT Dedicated line for Emergencies

    Posted: 30 Sep 2019 06:45 PM PDT

    Need some advice folks.

    I was reviewing some utility bills for my parents store because I like to keep up to date with their internet,phone,etc to ensure they're not getting taken advantage of and only paying what they need/if there are better deals/packages.

    I noticed that a bill from ADT that my parents are paying about $80. When I asked my parents what this was about, they said something about how it was the local town's policy of having a dedicated line for the fire department/emergency line. They weren't sure of the exact details but they said it was mandatory and that if they were to disconnect the ADT services, they would be fine from the town/fire department.

    Has anyone heard of such law/policy ? If this is a real thing, is there alternative option that would provide the same service but for a lesser cost? $80 is WAY too steep for what it is. Apparently "basic" security is within the $80 payment, however all the security lines for the alarm system around the windows are disconnected. Literally cut off. (Previous owner perhaps? ) ADT claims that they need to reinstall the wires and would charge us additional $. My parents decided to leave it as because they didn't want to spend anymore $.

    Is there's something that I can do to help them with this "mandatory" charge?

    I tried looking up this policy/law but I don't really know where to start.

    submitted by /u/xtboy
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    What is my best way to get paid?

    Posted: 30 Sep 2019 12:26 PM PDT

    I have a relative who sells a product, but mostly make and sell it to friends and family on a small scale. They want to expand and since I have a strong background in marketing I said I would help them and in return I would get essentially just make commission from what they sell. What's the best legal way to get paid from this? Is there a program that could help? Any advice would be great! Thanks!

    submitted by /u/itsadoorknob
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    I need some feedback and experience, so here I am. :)

    Posted: 30 Sep 2019 05:52 AM PDT

    Hello I am starting to get into logo making and graphic design and I need experience working with real people, so I hope to find someone who needs a logo, completely free, I just need someone to collaborate with and someone who can give me some feedback. If you are interested leave a comment. :)

    submitted by /u/ralpso
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    Question regarding Business Tax Application Forms & A question regarding proper insurance for my small biz

    Posted: 30 Sep 2019 05:09 PM PDT

    Forms I'm talking about

    I'm starting a pressure washing business soon and I'm applying for my resellers certificate for a side hustle I'm about to put in the works as well. Are these forms what I need for both ends of what I'm doing? I can apparently buy the resale cert. here and I'm wondering if the business tax app is hand-in-hand with what I plan to be doing? I'm targeting on select markets for restaurants and retail stores, and basically flipping in general. Wholesale/bulksale etc... I just want to know what these forms are for and if I'm on the right path.

    Also: Are there any bond insurance or equipment insurance companies that you recommend for pressure washing businesses? I'd love to know

    submitted by /u/Fluffogrump
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    First Internet Bank for Small Business & Personal Savings?

    Posted: 30 Sep 2019 04:38 PM PDT

    Hi all,

    I'm looking for a high-yield savings solution that I can use for my business (S-corp) savings as well as personal (joint) savings. It looks like First Internet Bank offers a fairly competitive rate on both their business and personal money market accounts, and they've told me I would be able to make transfers between the two as well as ACH transfers with accounts at other institutions. Has anyone had a particularly positive or negative experience with FIB? Are there any other online institutions (that offer both business and personal savings solutions) that you would recommend?

    submitted by /u/EHMT90
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    Someone suggested posting here would be more appropriate. Makes sense

    Posted: 30 Sep 2019 03:59 PM PDT

    Anyone use Pakmail or other large package shipping service?

    Posted: 30 Sep 2019 03:57 PM PDT

    I've been in logistics for 12 years, and in the past year started getting into a lot of white glove/final mile deliveries for businesses (think delivering a store fixture to Lululemon, not delivering a dishwasher to a residence).

    I'm trying to figure out the market(s) that Pakmail serves. Seems to be small businesses shipping items too large for UPS/FedEx that may also need to be packaged or crated before shipping. Can anyone think of examples or have experience with this?

    submitted by /u/mighty__matt
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    I need an Idea

    Posted: 30 Sep 2019 12:01 PM PDT

    Hi All,

    Not sure if this is the right thread to post this but I'll give it a shot.

    I need a business idea. I'm a student majoring in Computer Science, and quite frankly, class is super boring. So I wanna put my mind to something. I was thinking along the lines of an iOS app or some sort of website providing functionality to a particularly niche area of interest. I've never been the creative type, so some help from one of you would be greatly appreciated.

    - B

    submitted by /u/helpmeout001122
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    Intercontinental revenue sharing (CAD - EU)

    Posted: 30 Sep 2019 03:45 PM PDT

    Hi there, my friend and I have been creating mobile apps together for quite some time now as a hobby. This hobby is turning serious now, since we're starting to earn significant monthly revenue from these apps. Which is great, the kicker however is; we're not entirely sure how to go about the taxes and business structure since he's Canadian (and lives there) while I am from Europe (and living here).

    At the moment he's getting the payments from the ad providers and mobile app platforms and then sending my portion through PayPal or TransferWise. But because we want to make sure that we're not evading taxes or whatever, we figured to register a company of some sorts. We just don't have a clue where to start.

    Any advice or pointers would be much appreciated. If you guys need more details, I'll be happy to provide them through PM.

    Thank you!

    submitted by /u/AppRevenue
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