Is it smart and profitable to try to own the rights for being the distributor of a product? small business |
- Is it smart and profitable to try to own the rights for being the distributor of a product?
- When did you realize you needed to move beyond parcel shipping into higher-volume solutions? What was that experience like?
- Keeping the books
- Reissuing invoices under new company?
- Need advice on gift card plug-in for e-commerce website
- Looking to speak to some people about stress/mental health/depression in small businesses
- What would you do.
- I buy wholesale and sell retail. If I buy product to use as advertising and don’t sell it, do I technically lose the money I spent buying that product even though I might get sales from advertising? Is there a term for this?
- Back where I started my entrepreneurial journey, feeling beaten down, and getting destroyed by margins. Help!
- Started a business, failed. Looking to start a new business but don't have funding. Need ideas.
- 28 y/o, New Jersey, 800 credit score. Keep the new job I hate or buy the store I loved working for 5+ years from my old boss?
- Is anything else other than an EIN # required to open a business bank account?
- QuickBooks alternatives!?
- Have this cool idea! Not sure about it and need help with product validation. Please help me out!!
- Do I go LLC, S-Corp, or 1099 for a new small business?
- Need employment advice
- Where to find someone to write the about us pages on my static service business website?
- Recommendations on shopping cart that allows for custom product options
- Looking for content ideas! Are you happy with your marketing strategy?
- Advice on LLC separation.
- Mobile work order app with quickbooks integration
| Is it smart and profitable to try to own the rights for being the distributor of a product? Posted: 25 Oct 2019 08:14 PM PDT I hhave had some ideas of bringing products to my country and try to distribute them and be like the owner of the brand in here, is it a good business or someone has experience in this? I guess it would be a good way to start a way in the business world. [link] [comments]  |
| Posted: 25 Oct 2019 09:42 AM PDT |
| Posted: 25 Oct 2019 08:03 PM PDT I have a relatively small and one dimensional company I'm hoping to keep the books for. I will be giving tours on a 15 man bike bar and I'm hoping to save money where ever possible. My state requested my company files taxes every quarter. I have no experience keeping books, but I'm hoping to get some help from you knowledgeable folks. Any do's, dont's, tips, or websites with help would be more than appreciated. Thank you! [link] [comments]  |
| Reissuing invoices under new company? Posted: 25 Oct 2019 10:59 PM PDT Hi all, I started a contract for someone and have been too busy to get organised until now. I was invoicing personally excluding GST thinking the work would only be brief and manage the tax personally later on (New Zealand). I've decided as the work is on-going and I now have other clients I want to invoice from a Ltd company. How do I put the previous work through the accounts of the new business so all of the tax is managed in one place? Until now all invoices have been paid however I have not charged GST as I wasn't registered. My new company is. Do I issue void invoices and then reissue marking as paid but charge for the GST? Or should I just write the past off as personal income and manage that tax in a year, issuing all new invoices from newco? [link] [comments]  |
| Need advice on gift card plug-in for e-commerce website Posted: 25 Oct 2019 08:05 PM PDT We are using WooCommerce as the platform for our e-commerce site. We would like to add a plug-in for gift cards, but are having a hard time deciding which one to try. Does anyone have a strong recommendation that works with WooCommerce? [link] [comments]  |
| Looking to speak to some people about stress/mental health/depression in small businesses Posted: 25 Oct 2019 11:35 PM PDT Hi all, I know this might be a super long shot but I wanted to give it a go anyway! I'm researching for a story (assessment piece) on the mental health issues that small business owners struggle with and was wondering if anyone had any firsthand experience, and would be alright with being interviewed about it (you can stay anonymous). Or if anyone can point me in the direction of similar content? I've had a look around but can't find much. Ideally, I'd like to talk to Australian business owners :-) Thanks! [link] [comments]  |
| Posted: 25 Oct 2019 08:27 PM PDT If you only had 1000 to start a business what would you do? [link] [comments]  |
| Posted: 25 Oct 2019 07:37 PM PDT |
| Posted: 25 Oct 2019 04:39 AM PDT I'm only in my young 20s but started my work as an entrepreneur as a young teen. I begun selling makeup samples on eBay as I knew there must be people (like me at the time!) who wanted to check their shade, check you like the formulation, etc. before committing to a £20-40+ purchase. At the time NOBODY else did this on eBay and over the next couple of years I worked up from £100-200 profit right up to £2500/mo. Around the same time I launched and grew a Facebook page. It hit 400k likes and 8M+ weekly engagement within 6 months (I'd always been really good at growing audiences online) and I got an investor on board who had more cash to inject into the business. Within a year I grew the audience to 1.5M and we were making over $5000 a month. I got shafted on the deal as I was young and knew no better, but I made enough money to buy my first property which is pretty cool! Unfortunately the properly had unforeseen problems and I lost almost all of the money repairing it to a 'liveable but not loveable' state. Flash-forward to now, I have a second Facebook page/community of over 300k+ engaged users, but I don't have the cash to invest in it and monetise it (I probably need at an absolute minimum $3k to start turning profit). At this point I know I'll get screwed if I get investment again (I lost so much money last time it hurts my heart, I should've been set for the next couple of years) as it's too early. It makes sense to learn from mistakes, and I don't wanna keep doing things that lost me lots of money. So I felt very stuck and needed a way to make money QUICK. I launched an eBay store again as it's the only way I could think to make money to cover my bills and food. I found a way to source items (usually from China) for 0-10% of their retail value. Then I would list and sell them for 60-100% of the retail value (depending on competition). I thought this was foolproof as my sourcing is so incredibly cheap, yet I still get destroyed by margins. This is my 3rd month and I spent £419 on goods and shipping, and brought in around £1100. It seems pretty good but after lost & defective items (-£90) and eBay fees (-£180) followed by high taxes, food, and bills (UK) I have almost nothing left. In hopes of one day getting out of this situation I managed to save literally £40. I know it's not good enough but as a young working class entrepreneur with no support group or family I'm not sure what else to do! I feel totally misguided but living on my own I can't afford to stop working. I can't afford a car after mine died which stunts some of my ideas for getting myself out of this situation! [link] [comments]  |
| Started a business, failed. Looking to start a new business but don't have funding. Need ideas. Posted: 25 Oct 2019 12:31 PM PDT As title says, started my business (brick and mortar retail), and it failed....or never took off (however you want to put it). It DID give me an education though. I see what I did wrong and what I did right. Looking into a new business but my credit is now tanked (bankruptcy) so most loans are out. I know private funding is an option, I just don't know how to go about securing it. Need some ideas please. [link] [comments]  |
| Posted: 25 Oct 2019 08:08 AM PDT Just finished my bachelor's, got a job at about $50k year salary, still have $26k in student loans. Never had a late/missed payments. Renting out a place at $500/month that's closer to my job. I've been at my new job less than six months and the people on my team make me feel dead inside. It pays, but at what cost? My old job I've worked there for over five years, it doesn't feel like a job to be honest. My name is all over google reviews with positive feedback. It's a pack and ship center with consistent business. It's also in my hometown too. I mentioned it lightly to my old boss about it. He says I'd be great at it, but it'll be challenging because I'm young and I have to go thru a lot of hoops. He also mentions an up front cost of about $300k.. something I certainly don't have.. Yet, is there anyway around it? Loans? Would it be worth it? I'm in a conflict between wanting to do something I enjoy, but sacrificing financial stability/freedom. Or work at a place that has been making feel like shit, but it pays. Just writing this out in case anyone has been in a similar position. Central jersey btw. [link] [comments]  |
| Is anything else other than an EIN # required to open a business bank account? Posted: 25 Oct 2019 04:39 PM PDT Hey, I just started a small business; created an LLC and went through the process and got assigned an EIN number. Now, I was wondering if the EIN number is all I need to open a bank account. The confirmation letter is being sent to me in the mail so it will take some time to get here but I want to open a bank account ASAP. So do I have to wait for the letter or is my number all I need? Thank you! [link] [comments]  |
| Posted: 25 Oct 2019 04:09 PM PDT Service based small business with one employee. I have spent all day trying to make QuickBooks Online do what I pay $40/month for it to do, with zero success. I would like to organize my income and expenses so that I can hand it to my accountant and then pay my taxes. Any recommendations would be greatly, greatly appreciated. Thank you! [link] [comments]  |
| Have this cool idea! Not sure about it and need help with product validation. Please help me out!! Posted: 25 Oct 2019 03:52 PM PDT Hello, all the beautiful people! I have this idea of creating a sleek and modern men's wallet brand using a unique and unusual material. It's a leather alternative, NOT vegan leather nor vegetable-tanned leather. I did some market research, and I found some brands using this material to make men's wallets. Some brands use this material to create other fashion accessories such as women's bags, backpacks, shoes, belts, etc. (some make clothing out of it). My question here is: Does it mean I just stumbled upon a great opportunity since there are not a lot of competitors? Even though it isn't typical for now, I think it can be the next big thing. As an advocate of sustainability, I see that more people are starting to care about it. This makes me believe that the sustainable market will skyrocket (Ex: sustainable fashion is gaining popularity). With that said, half of my gut is telling me that whatever I am wanting to do will work. But the other half of my gut is also telling me that it's something that I need to be careful of because it may also mean that the demand is not there. Also, most of the sustainable brands target women. I found recent articles and researches mention that there is a discrepancy of sensitivity toward sustainability between men and women. Not that men don't care about sustainability, just that women tend to care more and get the most attention from marketers. With that said, will create a sustainable brand targets men a good idea or there is a lack of market share that makes it not worth doing? What do you think? Would you be willing to pay $50 - $120 (approximately) for a wallet that is: + leather/vegan leather/vegetable-tanned leather alternative + ethically sourced, socially responsible and low environmental impact + 90% biodegradable (10% of the base material is not) + sustainable + PETA approved I appreciate your honest feedback! [link] [comments]  |
| Do I go LLC, S-Corp, or 1099 for a new small business? Posted: 25 Oct 2019 08:59 PM PDT I recently accepted a job that offers $110/hour 1099/C2C or $100/hour W2. I decided to take $110/hour C2C and have some questions about setting up my corporation and taxes. (If you think W2 is better please let me know) From my research I believe it is better to create an S-Corp over an LLC. I was going to use https://www.zenbusiness.com/pricing to do this for me. I was also going to meet with an accountant. Since I live in California I will have to pay $800 in taxes this year, then $800 taxes for next year to create the S-Corp. With an estimated invoice of $215k/year I planned the following breakdown: ~7.5% in Employer taxes ($16000) ~Pay myself $125K salary -Pay myself $40k for 401k (20k Employee from salary, 20K Employer) ~Pay myself $54,000 as a K-1 distribution (Lower Tax rate) The role is guaranteed until June 2020, but I believe it will be extended for longer. Please provide any helpful advice if you have done this before, this is my first time. Does anyone have any online tax or CPA recommendations? [link] [comments]  |
| Posted: 25 Oct 2019 05:21 PM PDT Just want to know if it is okay to "rent out" our 3 employees to a company who is willing to pay us for everything (overhead, operational expenses, employee salary, etc). Employee will be housed with the other company but will legally be employed by us. Employee can still do work for us. I am just wondering about conflict of interest and how possible is it for the employee to serve two masters? Also, what is the benefit for us? Because while we can make a profit from the compny paying us, what is to stop them from just pirating the employee? Will the contract even protect us from this? Finally, is it better to just get someone and give it to them for a commission? [link] [comments]  |
| Where to find someone to write the about us pages on my static service business website? Posted: 25 Oct 2019 02:31 PM PDT I absolutely hate writing. I am also not good at it. I'm looking for someone to write my about us page, services page, just anything that is needed for my service business. Where can I find someone that does that and what are they called? I'm not sure copywriter is the correct word. Thank you all in advance. [link] [comments]  |
| Recommendations on shopping cart that allows for custom product options Posted: 25 Oct 2019 02:21 PM PDT Hi guys, I've been involved in small business e-commerce for about 13 years now. Currently I'm working with a new client, who has a small business. This guys makes custom, build-to-order products, that have a lot of options in them, and I need a good web solution to help his customers 1) see what options are available, 2) understand the difference between the options with explainer links and 3) have real time pricing that includes real time shipping quotes. Right now they are doing all this with online .pdf price sheets, and it's horrible. I've used 3D Cart for many years, and while this has flexible options templates, it's not ideal. I've also used WIX shopping carts, and Shopify, but neither of these will work due to their lack of flexibility in options pricing. Can anyone make any recommendations on canned subscription-based shopping cart software that has a good set of product options? Thanks. [link] [comments]  |
| Looking for content ideas! Are you happy with your marketing strategy? Posted: 25 Oct 2019 10:16 AM PDT Hey everyone, I want to be upfront I'm not prospecting, I just need some ideas for content. Mods can take this down if it's not appropriate... I work with businesses to grow through paid Facebook ads. I always maintain between 3x-5x ROAS (return on ad spend). Currently I have $40,000/month in ad spend under management for the company I work for (ecommerce business). All that to say I enjoy what I do and I'm looking to make videos to share what I know and help others achieve similar results. My strategy works for any business, any product, any service because I stick to what works for humans. Not some HACK or TRICK. I'm a real employee at a real business that expects real results. So my strategy is built on stability. If you have been in business for more than 2 years and you aren't currently satisfied with your advertising strategy let me know in the comments. Just tell me what kind of products you sell and I'll add it to a video I'm making. If I get enough questions I'll make multiple videos. ** EVERY PERSON WILL GET AN ANSWER ** If you want to add more info I could provide a more in depth answer. Some things to include would be: - Value Proposition - Are you trying to grow fast or maximize value per sale - LTV of customer - current marketing strategies - anything else you may think is valuable for me to know while creating a strategy for you I REALLY want to provide value for everyone I can so don't be afraid to comment, you've got nothing to lose. [link] [comments]  |
| Posted: 25 Oct 2019 01:32 PM PDT I co-own a company with one other partner. I am selling him my shares of the company. I will be filing with the appropriate departments transferring my share over to him. Also I am creating a contract ( with my lawyers oversight ) that we will both be signing, abstaining me of any liability in the future. Is there anything else I should/could do to protect myself in case he, for example decides to tank the business and run up a bunch of tax bills? I have a feeling he won't be doing the taxes for 2019 well into 2020 with extensions. How can I protect myself from the IRS or is simply not having any involvement legally in the LLC enough? Thanks for any advice. [link] [comments]  |
| Mobile work order app with quickbooks integration Posted: 25 Oct 2019 05:31 AM PDT I am part of a small family plumbing business that uses a desktop version of quickbooks. Lately I've been trying to locate our biggest areas of annoyance within the company and one of the biggest ones seems to be the process from which one of our employees writes up a work order, an invoice is manually created through quickbooks, and then the invoice is reviewed and edited if need be before being emailed or mailed to the client. I know there are tons of invoicing apps out there, but I've been having a hard time finding the right one for us. In a perfect world, we'd love an app where the guys out in the field could create a work order right on the jobsite on their phone, or in the near future a company tablet, and send it back to the office where it would automatically input into quickbooks. We looked at smart service and iFleet and were impressed, but the reviews quickly turned us away. A universal calendar would also be a preferred feature. I'm not sure if this is exactly the right place to be posting this but was wondering if anyone has any recommendations based on what they've used or what's worked for them. We have a large material list being a plumbing company, so basic apps probably wont work for us. Thank you in advance to anyone who takes time out of their day to respond [link] [comments]  |
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