employee wanting to cash out sick hours small business |
- employee wanting to cash out sick hours
- Sustainable slippers
- What programs/spreadsheets would you recommend for a young company to stay on a budget and keep track of expenses?
- Business Legislation for hair cosmetic business/start-up
- Advice for Starting a Dog Daycare
- EOY spend need ideas
- Security business ideas
- How to obtain Federal and state construction contracts
- Could my company be released from liability if a hired subcontractor does not have liability insurance but make them sign a contract stating my company is not liable for injuries etc. to them?
- Wwyd regarding a violation of a non solicit.
- For you bar owners out there, what do your payroll costs look like?
- Looking for feedback from small business owners on what business finance / accounting topics they would want actionable and learn-able information on
- Want to open a used Lego/collectable store
- I'm finally going to answer phone calls in 2020
- Thoughts on how to work this business model
- Hiring a part time marketing director/department
- Tax advice for reselling on ebay/Amazon
- Using QBO for LLC (taxed as S-Corp) with 2 Employees. No profit (loss) in 2019. Is TurboTax SmallBiz worth getting/using, or file myself?
- Health insurance and POP
- Collection problem
- Help with one llc needing to be two
- Recommendations for 1099 Distribution Software?
- I’m buying A small business for 275k and have loans questions
- Transitions and moving on
| employee wanting to cash out sick hours Posted: 30 Dec 2019 05:41 PM PST My one employee is coming off the payroll and changing into a 1099 contractor as I restructure my very small business. She casually mentioned cashing in her sick days and asking if that is something we do. I have never had an employee ask me this, and I have never had an employee try to use their sick pay and legally I don't think I have to pay them out, but I am wondering what is standard? For reference, she works about 15/hrs a week with an incredibly flexible/accommodating schedule. For further reference, I am broke. [link] [comments]  |
| Posted: 30 Dec 2019 07:36 AM PST Hey guys, I have been working on this idea to design stylish slippers made of merino wool and sustainable materials which will help the close loop process and consumers can return them back after they are worn out and get some credits on next purchase. The returned product will be used to manufacture a new product, this process helps reduce the waste and protect environment. What are your thoughts on this? Do you guys think a product like this people would want to buy to help protect the environment and also get comfy slippers! [link] [comments]  |
| Posted: 30 Dec 2019 02:49 PM PST My current objective is to put my company on a budget for 2020. I was going to make an Excel spreadsheet (the simplest solution) but should I consider QuickBooks, or possibly another platform to catapult me straight into something more in depth and all encompassing? [link] [comments]  |
| Business Legislation for hair cosmetic business/start-up Posted: 31 Dec 2019 03:08 AM PST I plan to open my hair cosmetic business this year which uses 100% natural ingredients and products. However, I have been struggling, severely, with the legislation attached to this kind of business venture. Obviously, due to the possible health risks, I can not just make my products and sell them online. I have done some online research but nothing clearly states each step that needs to be taken and the business law that supports it. Does anyone with some knowledge on this sector have any idea where to start with this, or have any advice, or can help direct me to anyone who could help? Thanks a lot P.S Business is in London, UK - United Kingdom. [link] [comments]  |
| Advice for Starting a Dog Daycare Posted: 30 Dec 2019 08:02 AM PST Hello all, I'm a 23 year old who is really passionate about starting a dog daycare in the next few years. I was wondering if anyone on this subreddit has experience with the industry? A business partner of mine has worked at a dog daycare for 3 years while in college and she does know the ins and outs of the process for running the daycare. However, we aren't very knowledgeable about financing this type of small business. We need advice on topics like: - getting a commercial property - insurance - municipal ordinances - market/outlook for the industry - personal advice Thanks! [link] [comments]  |
| Posted: 31 Dec 2019 01:33 AM PST Need ideas for EOY spend. IT consulting. Bought all equipment and shelf stock as well as renewed all software licenses. Anything you are buying? I need some ideas on the last day. [link] [comments]  |
| Posted: 30 Dec 2019 01:30 PM PST Hey all, I'd like to start a small security business installing safety security films, residential and commercial window tint, security screens, and bullet resistant films on homes, businesses, and schools (possibly some government contracts) I've been a contractor installing film for six years and would like to branch on my own. Are there any other products I could take advantage of? Was there ever a service that a security company didn't offer that you would've wanted? Are there different ways to market this services besides cold calling businesses and your typical social media ads? Thanks you! [link] [comments]  |
| How to obtain Federal and state construction contracts Posted: 30 Dec 2019 08:24 PM PST I've been playing with idea of starting a construction company targeting small dollar figure contracts. Other than the basics of developing an LLC, obtaining insurance, and other such basic measures. My question is what's all the red tape that I have to worry about? Surety bonds? Registration as a qualified contractor? Minimum capital or asset requirements? Just trying to get a grasp of the field, any advice would be appreciated. [link] [comments]  |
| Posted: 30 Dec 2019 10:41 PM PST Basically am a cleaning contractor for multiple large real estate companies in the U.S. I have multiple subcontractors doing the actual cleaning in the houses for sale but they don't have any liability insurance. Would making them sign an update contractor agreement including a clause of some sort stating I'm not liable for injuries to them etc. be enough? [link] [comments]  |
| Wwyd regarding a violation of a non solicit. Posted: 30 Dec 2019 02:57 PM PST So I'm in dentistry and we had a doc working for us for about 9 months. long story short I'm not upset . . . they weren't the best fit and it didn't end terrible but also not very good. To start they left 3 months short of their term in the contract refused to stay more days to cover etc It wasn't the worst thing in the world because we could cover it. More annoying than anything. They are working for another dentist and have not opened their own office. Then we noticed they had seen a few patients of ours at their new office although they have a contract which prohibits it. (According to our lawyer the language for their non solicit is legal in our state) We didn't push anything because it doesn't seem to be too many and didn't want to rock the boat. Now they are working with a former employee which is also against the non solicit clause. On the one side we are glad to get rid of this particular employee as they've been causing us a lot of problems as of late. What I'm most worried about is setting my foot down so to point out I won't be taken advantage of . . . But I really have no intention of going to court to defend it and I don't really care about compensation. I halfway just want to let it go but Im not sure it's best to just allow it to go unchecked. Should I call them up or call up their new employer. [link] [comments]  |
| For you bar owners out there, what do your payroll costs look like? Posted: 30 Dec 2019 02:51 PM PST I'm planning to open an esports lounge and bar with the bar part being opened from 5 PM to 2 AM everyday of the week. The number I see most common for employee costs per month is $13,000. I'm curious how reasonable that number is and how that number is broken down. How many bartenders do you have? What are their hours like? Same for managers and bar backs. [link] [comments]  |
| Posted: 30 Dec 2019 09:28 PM PST Hey all, I'm starting a business finance website focusing on a lot of financial analysis concepts that are crucial to obtaining funding, loans, investments, profitability, and sustainability. I've got 10+ years experience in Corporate Finance / Accounting so I'm trying to figure out how to put that to good use. I have ideas on what I want to write about that I do day in and day out, but I also want to get feedback from actual business owners on topics that they consider important and are genuinely interested about. It's not going to be an affiliate site or anything of that sort, I actually want to build a community and possibly start consulting in this space. Thanks! [link] [comments]  |
| Want to open a used Lego/collectable store Posted: 30 Dec 2019 09:11 PM PST For the last 6 months or so, I've had a side hobby of buying and selling Legos on Craigslist and similar sites. I enjoy doing it and have made some decent money. It's reached the point that my current stock is becoming too much for my wife as we have a pretty small house and two kids. I've been thinking about potentially opening a used Lego store as a side business to my normal job and my wife is supportive of the idea. I have never done anything in the least bit entrepreneurial up until now and I'm not really sure where to start or how to figure out if this could work. Some information: The idea would be to try to sell more of an experience than a product that people can just get online or in big department stores. Brainstormed ideas: Obstacles: If you're into Legos and you've been to a store like this, what did you like or dislike? What do you think is the biggest draw to a place like this? Would love to hear pros and cons. If you think it's a terrible idea or destined to fail, please tell me and explain why you think that. I'm a teacher and could spend my summers and weekends doing this so I'm not going to be quitting my full time job. Just trying to figure out if I could make enough extra side money to make it worth the time and effort. Thanks! [link] [comments]  |
| I'm finally going to answer phone calls in 2020 Posted: 30 Dec 2019 08:43 PM PST I operate two creative service businesses which are nested under the same LLC. I'm wrapping up my second year in business tomorrow. I doubled sales and improved my bottom line by a factor of 5 YOY. I estimate at least 95% of my past and current leads came either through a contact form submission or from a direct email to one of my inboxes. It is incredibly rare that I answer my phone and I've only ever booked a phone originated lead after the potential client has left me a voicemail. I really wrote off the potential the phone had to bring me business, because I assumed most people in my niche would either leave a voicemail or be sending me emails. I've clearly been missing a lot of opportunities on the phone and I've also been spending a lot of money for paid leads I'm not pursuing. According to my google ad's reporting, I had over 500 calls (almost all unanswered) per brand in 2019. I'm sure a large percentage of those are spam or garbage calls but I'm also sure I'm missing a significant amount of leads here. This is the first time I've looked at that metric, yes, I'm a fool. Going into 2020, I'll be answering each and every phone call I can. I actually got a head start on this today, lo and behold the second call I answered turned into a hot lead (first one was spam). It's funny to think I've considered myself "business minded" for so long without being willing to pick up the phone and talk to customers that may or may not want to work with me. One of the things I have learned so far is that it's always good to leverage every channel possible, so neglecting the phone has been something I'm sure I've missed out on big time. I'm always seeing posts on here driving home just how important it is to answer the phone in any service industry. I acknowledge that I'm no exception. Looking forward to seeing what 2020 brings me. Hope you are all as excited as I am. [link] [comments]  |
| Thoughts on how to work this business model Posted: 30 Dec 2019 07:36 PM PST So I've been building web sites for over 20+ years. I ran a very successful web hosting business with about 150 hosting clients and hundreds of domains registered for them. Recently I realized that i am spending way too much time and energy dealing with collections because I'm in a medium sized southern city so even explaining the idea of what web hosting is is difficult and makes it even more difficult to collect because they just assume it should be free. I've decided to sell the hosting side of my business for a mass sum to another local host so i can focus on what my real passion is, design work such as wordpress sites, logo and branding, etc. The reasoning behind this is, while yes i love the reoccurring income of hosting, is just a pain in the ass. It's also a liability for my credibility because you can really only "fail" as a web host and then people get butt hurt when they ignore my hosting or domain invoices and sites go down, etc. Anyway, I'm pretty much decided that I'm going to go down this route and become a reseller for about a dozen different hosting companies so i can say 'okay, your project is done, if you have a problem with the site being down or your email not working, call xyz, if they don't preform as well as you like vs the price point, i'll help you migrate it. If you need something major added and you don't want to spend the time learning how to maintain wordpress then i'll work on a hourly basis to make minor changes after the invoice is paid. I can then spend my time basically networking with my clients, calling once a quarter to "check in" to get minor updates done at a reasonable rate but also "network with my clients" in a sense, asking for referrals in exchange for free work, just not dealing with the responsibility of basic uptime, wordpress core/plugin updates, all of that nonsense. Anyway, I lately have been trying a different approach to approaching new businesses by having my designer build a demo homepage that i can approach the potential client with it "cold" in a sense. It gets over that hump of "hey we should build you a site, here's a proposal, give me money and you MIGHT like i make" with more of a "here is what you're gonna get, once it's up depending on what you want to spend money wise monthly here are options" and then wash my hands of it and move on to the next one. My designer can produce about 1 of these concept sites a day and i can probably visit 2-3 potential clients in person with these. The goal is to get 1-2 people out there demoing these demo sites for me since i'm not really a great sales person, better art director. I just need charming/attractive sales people to get their foot in the door with my design then take a commission and let me and my team take over to produce/launch it. The problem i'm encountering is that it's still basically a cold call in a city that is all about direct referrals, etc. Any ideas on what I could do to get a better success rate? TLDR: making demo sites for potential customers to get over fear of signing up for a site. [link] [comments]  |
| Hiring a part time marketing director/department Posted: 30 Dec 2019 07:17 PM PST So I love marketing and I have a strong background in graphic arts and web design but I don't want to work for a single company or in a really big marketing department. Instead, I want to work for multiple small-mid sized businesses. I'd like to help them get their marketing up to par and then keep it running smoothly. I have two questions: 1.) would you call this a consultant position or a part-time employee.. or something else? 2.) how would you price this out? If you wanted a dedicated expert for your business, but couldn't have someone full time, what would you expect to pay and what arrangement would you want to see? [link] [comments]  |
| Tax advice for reselling on ebay/Amazon Posted: 30 Dec 2019 02:05 PM PST I hope this is the right sub for this question... I started reselling on amazon and eBay this year and have since made it my primary source of income. As tax season comes around this will be the first time I file with a large chunk of my income made by me rather than paychecks from a business. I haven't yet registered as an llc or scorp and I'm a bit worried about how I'll file. I guess my question is is it worth it to register now? I'm filing jointly with my wife and I guess the income I would claim is around $20,000 or so if that matters. Any advice would help. [link] [comments]  |
| Posted: 30 Dec 2019 07:33 AM PST Pretty self-explanatory on top. Wondering if the bookkeeping from QBO is good enough that using another software is overkill and waste of money that I can just file myself. Background: Am I CPA myself? No, but I'm pretty good at bookkeeping, and our books are in perfect shape (new LLC, so everything was set up & kept perfectly). Cash Accounting, not Accrual. [link] [comments]  |
| Posted: 30 Dec 2019 05:08 PM PST We will begin offering health insurance to our 15 employees beginning in January. It is a cafeteria type plan thorough BIAW. We will deduct employees' portion of the health insurance pre tax but are under the impression that we need a POP plan in place additionally. We can't figure out what a POP plan is, but a company wants to charge us $200 so that they can send us a POP document to keep on file In case we ever get audited. I called the IRS to ask about this and they told me that they no longer have the man power to give information about POP plans. Our CPA and SBA don't seem to have any information on this either. Does anyone else have a POP plan or know what it is or why it is necessary? The more I research it, the more confused I get. The people who want to charge us $200 say that we need to have this in place before we make any pre tax deduction. Quickbooks said that the IRS will see all pre tax deductions on W2s so there shouldn't be any issue. Just very confused about all of this :( [link] [comments]  |
| Posted: 30 Dec 2019 04:47 PM PST So my wife teaches art classes out of our house. Her classes are run in 6 week sessions. Out of 26 students 25 pay on time for each session. She has one student whos dad never pays on time. My wife constantly is reminding him in a NICE way. She sends his daughter home with paper invoices as a reminder. At this point he basically owes my wife for the entire last session plus some. [link] [comments]  |
| Help with one llc needing to be two Posted: 30 Dec 2019 12:37 PM PST Oregon. My brother bought his first restaurant alone back in 2015 after taking loans from family and formed his own LLC. In 2018 another opportunity came along that he purchased but instead sought funding for an equity position in the new business. My other brother and I each bought 25% of this new restaurant and was told we would get it on paper later. The only problem is he combined both restaurants into one llc. He has kept separate bank accounts but now were not sure how to undo all this and make it a separate entity without taking it in the shorts financially so our position is protected. He refuses to give us a stake in both restaurants which I totally understand. The good news is were all still amicable but we want some clarity. Thoughts? [link] [comments]  |
| Recommendations for 1099 Distribution Software? Posted: 30 Dec 2019 11:42 AM PST Started an LLC in 2018 but didn't hire any contractors until this year (2019). Now I need to send off some 1099s. I have their W9s but not sure how to go about filing the 1099s. I know I need to send two to them, keep one for myself, and send one to the federal and state filing places each. Any recommendations for software to use? I looked it up and there seems to be a dozen services without much information vetting them. For what it's worth I primarily work out of osx, so software for that OS is ideal. [link] [comments]  |
| I’m buying A small business for 275k and have loans questions Posted: 30 Dec 2019 03:04 PM PST The business did 499k in sales last year, and did 162k in profit. So it's a business with a positive cash flow which is good. I am only 20 years old so I don't have the 275k... so I started looking into business loans and I was messing around on some business loan websites and I actually got pre approved for a 275k loan at 5.9%. Here is the issue. They want 3 months of full bank statements to see the income coming in. And that account has to be owned by me. Since the business and bank accounts are still in his name, I can't get the loan. Basically, I would need to take the business over for "free", run it for 3 months, then re apply, and get the loan. I proposed this to the current business owner and he didn't say no, but he also didn't say yes. He really wants me to try and come up with the money first before we entertain any seller financing options. So, here is my question. I've been forced to think outside of the box a little bit, but please let me know if this would work. WHAT IF: he takes out a 275,000 business loan under his business... he pays himself with that 275k, which thus leaves the business in 275k of debt, then I pay off the debt once we transfer the ownership of the business. This way I would be dealing with a bank and not him. And he would get his money upfront and I would just have to pay the bank back rather than paying him off.. Or, is this a bad idea because his personal credit could be attached? Obviously HE wouldn't even entertain this idea if there was a risk of his credit getting fucked up him ending up having to owe money... I don't want to ask him this yet because this might be a stupid idea lmao so I wanna get some advice first By the way it's a landscaping business if that makes a difference Thanks! [link] [comments]  |
| Posted: 30 Dec 2019 02:49 PM PST Hello all, thanks in advance to anyone willing to read my post. I fell into a retail business at age 18. I made a ton of mistakes but ultimately built a moderately successful and unique business that ran for twelve years. Except I wasn't particularly well-suited for the job. When the pressure was on and I got in the weeds, and customers began lining up, I would often get uncontrollably anxious and transform into an asshole. Or maybe I'm just an asshole at heart, I don't know. I seem to have something going on without a roadmap to repair. I attended therapy during my career for social anxiety without significant success. I tried hiring more staff, but I sold a highly specialized product and clients often came to see me personally. Basically I was my business and through youth, inexperience, and stubbornness I suffered through many years of being an intolerable douche before a mixture of burn-out and a changing regulatory environment made my business far less profitable. So I closed shop a little over a year ago. After taking a year off I'm running in circles trying to figure out what to do with my life. I'm 32 now and have roughly 1M saved up, majority in index funds. I don't have a college education, nor any other work experience. I'm having trouble with the idea of getting an unskilled job, probably an ego thing. I've experimented with beginning some college classes but I'm not sure it's for me. I've shopped around for businesses but it seems hard to find good value. I haven't had the "that's it!" moment like my last business. Also, I feel like if I risk this money and lose it I'm fucked. I've become interested in cleaning businesses. I like that they can be started cheaply and scaled up. I genuinely feel inspired by building beautiful retail environments but paradoxically retail is completely incompatible. Not sure what I'm hoping to hear. I recognize my failures, but also the opportunity I have. Does this ring familiar with anyone out there? Feeling a little low. Thanks for reading my rant. [link] [comments]  |
| You are subscribed to email updates from smallbusiness: Starting, owning and growing a small business. To stop receiving these emails, you may unsubscribe now. | Email delivery powered by Google |
| Google, 1600 Amphitheatre Parkway, Mountain View, CA 94043, United States | |
No comments:
Post a Comment