I started an equipment sales business 3 years ago that has grown into $6mm revenue ($800k net). I’m experience serious cash flow issues and stress. Any advice? small business |
- I started an equipment sales business 3 years ago that has grown into $6mm revenue ($800k net). I’m experience serious cash flow issues and stress. Any advice?
- China: A group of 4 investors want to take our small school on an investment trial run ($150,000), to see how viable it can be, but they're asking for (collective) majority ownership. What are my options?
- Planning to shift to a new country(Canada), should I buy a business or get a job? Budget would be between $100-250k CAD to buy a business.
- Do I need to register a business license in the city, county or the state?
- Looking for digital marketers and seo expert
- HOW TO GET FULL USA and CANADA IBISWORLD AND STATISTABRAIN MARKET RESEARCH
- Cafe owner Q's.
- How to Come Up With a Name for Your Small Business
- Small Victories: Our Website Is Now Live!
- Prints of your art
- Trying to start a small business
- Odd bank loan: Standard or is it time to go elsewhere?
- How to charge for one-time project?
- Anyone ever experienced "piercing the corporate veil" with their LLC?
- Google Ads Beginner
- How to calculate the price of your service for a company?
- [WI] Is there a downside to creating my LLC and sitting on it for a few years?
- Looking for the other crazy people who opened a restaurant - general advice for a Chicagoan dipping their toe in the ownership side of things
- How often do you need talent from different departments finance/marketeting/web development to work on the same project?
- Apparently 2 out 3 projects fail because of an inability to find the right talent
- ADA Website Compliance Rules (lots of people having trouble understanding this.)
- Does telemarketing still works? Please share your experiences with it or other marketing strategies
- Should I use Stripe or Square with Booking?
| Posted: 12 Oct 2019 05:13 PM PDT I have projected our growth out fairly accurately over the past 3 years, and with current contracts and opportunities I believe we can easily hit $30mm+ annual revenue in 3 more years. This aggressive growth path is causing some serious cash issues, but banks are being more stingy on lending to help continue our growth due to our relatively short financial history. Most of our retained earnings goes into inventory growth and AR growth. I've considered seeking a financial partner, and I have determined our net present value to be $8mm (we also have relatively little debt). I've presented a term sheet to one investor offering 50% equity for $4mm. Am I being realistic in this valuation? Is an equity dilution a bad move? I've also considered private lenders but typically rates are too high, the term is too short, or the contracts are too risky. Any advice would be appreciated! Edit: I should mention that I am referring to annual revenue in the title [link] [comments]  |
| Posted: 12 Oct 2019 10:18 AM PDT Hello, all - First time poster, here, so if I do something wrong, please correct me. I'm an American who lives and works in Taipei (and sometimes China), and created my own school with my wife. Her parents already own several physical school locations, in both Taipei and Guangzhou, so we've been running our classes out of those locations. Our school has its own, separate branding/logo, curriculum, etc., all made by ourselves. In comes these 4 Chinese investors who want to expand our idea in China, but they're concerned we don't have a school 100% dedicated solely to our brand (since we're operating out of in-law's schools). We don't have a clear/pure revenue stream, since we're operating out of schools that also house other, popular brands. They want to give us $150,000 to setup in a new location, in China, with curriculum, branding, and advertising of only our school's services. The catch is, they say this new entity will be controlled based upon investment percentage, so whomever invests whatever percent, gets that percent of ownership. Now, these guys are millionaires, literally, so they clearly have the upper hand in investment. I don't know enough about ownership splitting when investors get involved. It's my first time crossing this bridge. How can my wife and I retain ownership, but still get investment? Literally, my only knowledge on this matter comes from watching Shark Tank, which I'm sure isn't the best source. If there's some burning question/issue I haven't addressed, it's simply due to my lack of knowledge in this area. Let me know! Thanks for any help and advice you can give! [link] [comments]  |
| Posted: 13 Oct 2019 03:49 AM PDT Current run a small business in India, so I won't be new to running a business, but definitely new to the way of business in the country. [link] [comments]  |
| Do I need to register a business license in the city, county or the state? Posted: 13 Oct 2019 02:46 AM PDT I'm a young craftsman who have recently moved to LA (LA city). I need to get a business license as a sole proprietorship. Do I need to get it from the city, county, or the state? Goole shows me each level is requiring the license, I'm a bit confused. Or, if I may ask, if I get the business license from the city of LA, would this automatically give me the license in LA county, and California State? Or, the worst case, do I have to apply the license from all these 3 levels? thx [link] [comments]  |
| Looking for digital marketers and seo expert Posted: 13 Oct 2019 02:40 AM PDT Hi team Looking for digital marketers and seo expert, have you got any recommendation or guidance as this industry seem to be full of questionable charterers Cheers [link] [comments]  |
| HOW TO GET FULL USA and CANADA IBISWORLD AND STATISTABRAIN MARKET RESEARCH Posted: 13 Oct 2019 02:34 AM PDT |
| Posted: 13 Oct 2019 02:13 AM PDT Hello I am doing some research. Are there any cafe owners on here I could DM? [link] [comments]  |
| How to Come Up With a Name for Your Small Business Posted: 13 Oct 2019 02:02 AM PDT Today I found a handful of posts where people were looking for business name ideas for their companies. They were wondering how they could come up with a business name easily, and get a domain to go with it. So instead of answering them individually, I created this post so that everyone can benefit. I use a tool called Namelix to generate my business ideas. Using it, you can generate over a thousand brand name ideas, and check if the name is available instantly. That's how I generated the name of my business Job Sager. I just wanted to share this simple tool that'll help you find a name easily. [link] [comments]  |
| Small Victories: Our Website Is Now Live! Posted: 12 Oct 2019 04:37 PM PDT Hi all, Much like my last post when I celebrated having business cards created, this is a similar milestone. Whilst not fully complete, (we still have some coming soon pages and are missing some images) - we now have a functional, customer facing website. We've been operating as a digital marketing agency (Marketing Automation focused) for almost 2 years now, which is crazy to think about since we're only now getting our own web presence looking presentable. Anyway - I just wanted to write it down. I'm really proud of what we're achieving! [link] [comments]  |
| Posted: 12 Oct 2019 08:20 PM PDT Hi all, Art has been a really wonderful therapeutic hobby for me for awhile now. Over the years many of my friends have pushed me to try and sell my work and I am finally genuinely considering it. I was wondering if anybody had any tips/tricks on getting your art printed (I don't have a printer so maybe places you can go and the ones with the best rates) and maybe some tips on getting it out there locally? I have a fair social media following without the art so I plan on piggybacking off that a bit but I would love to showcase it in coffee shops and be a part of art shows. Thanks all! [link] [comments]  |
| Trying to start a small business Posted: 12 Oct 2019 04:21 PM PDT I'm trying to start a small computer repair business in Indiana and, I have absolutely no idea what I'm doing. All the information on the web is confusing and skips over the legal part of starting a business. I just have a few questions: - Should I open a storefront, and then get an LLC registered, or visa-versa? - How do I handle taxes? - What is a registered agent? [link] [comments]  |
| Odd bank loan: Standard or is it time to go elsewhere? Posted: 12 Oct 2019 08:01 PM PDT I co-own a stable ($2.5 million annual gross) wholesale business and use a bank that has been relatively responsive to my cash flow needs (example, last year I needed $100K to cover a short term cash hole created by some larger orders and the bank covered it). This year we got a $400K order in early Aug that along with my regular stock needs meant I was expecting a cash hole of at most $250K for likely 1-2 months, after we paid our factory, the freight and customs costs but before the customer paid Net 30 (and it is a long time reliable customer, so I'm not worried about getting stiffed). This order also meant we are likely to end the year just north of $3 million in revenue and with a higher than usual profit margin. I went to my bank in late Aug and provided this PO as well as my cash and revenue projections through the end of the year. The bank has us fill out an SBA loan form, which was a first for us, and then finally last week came to the office to have us sign the documentation. However instead of a loan, it was a line of credit with a much higher cost to us ($2500 upfront instead of $1K last year). Ok whatever. But it got weird. I could get an advance against this big order, but I had to fill out a form letter to send to my customer that they had to pay a special office at the bank directly. I also can't directly access the money, that same office would pay my bills associated with this order from the line of credit themselves. The legalese in the letter also said that the customer has to continue to pay the bank for all invoices until the bank says otherwise, which is weird since I specifically asked for a short term loan and anyway, the line of credit expires in 6 months (the bank made it that long, as I said, my cash should be all caught up by December). This customer makes regular, albeit much smaller orders all the time and I don't understand why those payments would have to go towards the line of credit, which will easily be covered by the single under. So I'm not happy about signing this, but we need the cash and I don't see another choice this late. I argued with the bank to change the legalese to cover this order only and my banker agrees after talking to his boss, but only as a "concession"to me. I'm not happy going to this valuable customer of mine asking them to sign this letter and do something different with payment, since I'm worried that they'll think I have a major cash issue not just a short term blip, but I'll deal with that. So has anyone else had this sort of situation? Or is my bank (they boast of being the largest privately held bank in my state) just trying to soak me and also listening to what I need? Any advice is appreciated. Thanks! [link] [comments]  |
| How to charge for one-time project? Posted: 12 Oct 2019 07:18 PM PDT I developed a project for a company in the US. To pay me (12K), they asked for an invoice. I do not own a business (I'm employed), so not sure how I can provide an invoice for a one-time project (preferably without paying it all to the IRS). Ideas on how to provide an invoice? Thanks! [link] [comments]  |
| Anyone ever experienced "piercing the corporate veil" with their LLC? Posted: 12 Oct 2019 07:09 PM PDT $subject Has anyone had their "limited liability" thrown out the window? [link] [comments]  |
| Posted: 12 Oct 2019 12:37 PM PDT We just finished our first mini ad campaign with Google ads, it was mainly a tester. We got 141 clicks with 12.4k impressions and our max daily budget was $25. Average CPC was $1.20. Here is a link to what the add looked like: https://m.imgur.com/a/p80fULK Mostly curious as to what I can do better for the next run, and why impressions were so high with such a low click through rate (CTR). I feel like part of it could be that the link on the add went to our homepage instead of going to the collection page. Open to advice and critique on website, too. [link] [comments]  |
| How to calculate the price of your service for a company? Posted: 12 Oct 2019 10:43 AM PDT I've used the equation of: (Annual Salary + Annual Expense + Profit margin) / billable hours. However this only factor in how much to charge per hour for one person.
Thank you in advance for your help! [link] [comments]  |
| [WI] Is there a downside to creating my LLC and sitting on it for a few years? Posted: 12 Oct 2019 04:45 PM PDT I have some ideas for a small company but it may have zero gross revenue and zero customers for another 5 years due to my laziness. Am I wasting money by forming an LLC at this point? I already have a website. In my state the cost to form the LLC is $130. Are there other costs I haven't considered? [link] [comments]  |
| Posted: 12 Oct 2019 10:14 AM PDT HI GUYS-- I have a super active main account but opted to create a new one specifically for my business and consulting others. I created it this morning and immediately started googling some Reddit posts to find more information on crunching numbers when it comes to owning a restaurant. So, thanks for clicking on me. My backstory basically goes that I am 29 year old woman in Chicago with 11 years experience in the industry. And I think like a lot of us do, I never intended on making a career out of it but here I am opening my own place and fucking ecstatic over it. I've done it all - been everywhere but behind the line. I've done an opening before, fell into a great friendship with the owner of that place and he asked if I was interested in partnering to do my own spot. I said absolutely. We raised money from investors, found a spot, city kept coming out and inspecting, etc etc and reno costs just got way too out of hand. We made the decision to back out and start over - blessing in disguise, truly. So now I'm sitting here crunching numbers for a new spot and I feel overwhelmed. I think I need help on where to even start. I already know which two neighborhoods have the foot traffic and income I want to be around - I also know that because I'd be sole operator 70% of the time, I don't want to exceed seating beyond 60ish people or so (open to changing that though, of course). It's an upscale taqueria with a (hopefully) super solid cocktail menu. Investors (awesome people) are involved and we have $200-300k currently sitting in an account for opening to get going. Maybe I'll just spitball some questions and you all can answer if you guys want, you can give input, you can also tell me if some of them don't matter to ask:
I 100% intend on basically living in the place. I intend on being on that floor pretty much every hour it's open - it's going to be my livelihood -- my baby if you will. I get that it's brutal, it definitely mostly sucks but it's my comfort zone. Any, and I mean any, and all info, advice or reality checks are very welcome. [link] [comments]  |
| Posted: 12 Oct 2019 09:12 AM PDT |
| Apparently 2 out 3 projects fail because of an inability to find the right talent Posted: 12 Oct 2019 08:56 AM PDT |
| ADA Website Compliance Rules (lots of people having trouble understanding this.) Posted: 12 Oct 2019 12:38 PM PDT |
| Does telemarketing still works? Please share your experiences with it or other marketing strategies Posted: 12 Oct 2019 12:23 PM PDT Hi, Let me tell you more about myself. So basically, I cold call phone numbers of business owners to try to sell them first digital marketing services, if they tell me that they're on full capacity at this moment then I ask if they could use any working capital to get more equipment and/or expand their business. Then, sometimes they would tell me that they're looking to reduce costs, which depending on the kind of industry that can be achieve with an automated software. I do this as a part time since I have a full time job. I speak both English and Spanish which gives me a boost on Spanish leads, but I have an strong accent on English which I believe it might scared away some of my leads. I'm able to get some money out of it but just enough to save a little bit each month. So, I don't know if I should keep investing money purchasing out leads or if I should try to go other direction. Besides that, have you ever guys closed any deals here in Reddit or any other kind of online forums? Please share your experiences with telemarketing or other marketing strategies that you've used Regards! [link] [comments]  |
| Should I use Stripe or Square with Booking? Posted: 12 Oct 2019 12:20 PM PDT I'm starting a service business super cheap. So I started my carrd.co website, and ready to verify Google My Business and Facebook Page. I played around with appointment booking on my Facebook Page- really liked it, then I realized for booking in-home services I would want to have prepayment available. Like I have their card ready to charge after completing the appointment or charging an applicable cancellation fee, or just generally confirming the customer is serious about booking. So my carrd.co website has some Stripe integration available, but here are my thoughts: With Stripe I need to also integrate a separate booking service, I think? I saw MakePlans integrates and that would cost me $9/month just for booking and prepayment capabilities. I'd like Quickbooks integration, but I decided I didn't want Quickbooks Payments- all QB stuff is so damn expensive. I don't wanna spend more on QBOnline than one of the two cheapest options for small startup operations, up to $25/month. Square has booking and prepayment options! I'll have to investigate more, but per swipe charges and all that seem pretty similar to Stripe. Can I easily add this system to my website? Anyone have experiences with these services or appointment booking with prepayment options? What should I go with that's easy AND affordable? [link] [comments]  |
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