Is Factoring something a small business owner should actually consider? small business |
- Is Factoring something a small business owner should actually consider?
- Anyone start (or buy) a small business they had little or no experience in? What did you focus on to make it successful?
- Deduct mileage from home business
- Small Sign Company, need to ship large order of metal signs. How to go about this?
- How do you market a Cannabis based business?
- Need advice on second gen's responsibility in family owned business
- Help Handling All these F#@$&%# Receipts
- Accounting software like Quickbooks Online
- My cofounder never told me he’s married
- If you are going to open an online store with someone what banking solutions are there for making sure the payment gets split between both partners?
- Finding clients for my wife’s business
- Best source for a small business loan
- Employee Birthday Gift Cards
- Help understanding tax implications of selling another service through my business (photography)
- Work vehicle + personal vehicle or use a work van as personal vehicle as well?
- Need ideas/suggestions on buying a cashflow positive business
- IT Question for Small Business Owners
- Vacation notification
- Looking for direction on company type
- Anyone have any recommendations for a customizable order manager for a smallish business?
- Are Business Expos and Conventions worth going to?
- Normal? Commercial lease LL — asking now for biz plan & personal finance statement
- Question for Restaurant Owners re: Food and Beverage Minimums
| Is Factoring something a small business owner should actually consider? Posted: 05 Feb 2020 03:57 PM PST Own a "small" painting company, I use quotations because we are still small, but the biggest in the surrounding area. I am running into a problem with having money for expenses while waiting on payment from larger companies. Recently learned of Factoring and am curious of opinions and advice. I do not want to take out a loan. [link] [comments]  |
| Posted: 05 Feb 2020 02:01 PM PST An older friend was suggesting I consider buying or starting a hair salon. There are a lot of new community developments coming up and with some cash I have laying around they thought it might be a good side business to own. I know a nurse who owns two nail salons while working FT and it made me think maybe this is doable. However, I don't know much about that business. So what would I focus on to offset my lack of experience/knowledge in this business? Hiring the right people? Accounting? Marketing? Thanks [link] [comments]  |
| Deduct mileage from home business Posted: 05 Feb 2020 11:02 AM PST My place is business is my home (eBay store) but I use a PO box as my business mailing address. Can I deduct mileage for checking my PO box? [link] [comments]  |
| Small Sign Company, need to ship large order of metal signs. How to go about this? Posted: 05 Feb 2020 02:38 PM PST Located in Eastern South Dakota. Have a medium sized order of safety signs to ship to Wyoming. Checked with fedex freight to have them take the order on two pallets with an estimated weight of 500 total pounds. Their price was shockingly high. The order consists of 80 24x18 inch aluminum signs and 16 3x5 foot aluminum signs. Is there a simpler solution I'm missing here? [link] [comments]  |
| How do you market a Cannabis based business? Posted: 06 Feb 2020 01:43 AM PST Advertising in the cannabis industry seems like a tricky task. Any suggestions? [link] [comments]  |
| Need advice on second gen's responsibility in family owned business Posted: 05 Feb 2020 09:48 PM PST B2B product, We design,customize,integrate,commission 11KV and below electrical & automation panels. Im the second Gen, initially started with project sales but realised im not good at it due to lack of technical knowledge,after 2 years started working with procurement and realised im able to negotiate better with suppliers and increase project profitability. my question is in which all depatrments is owner's direct contribution required? and how true is "a good businessman always a good salesperson"? [link] [comments]  |
| Help Handling All these F#@$&%# Receipts Posted: 05 Feb 2020 01:53 PM PST I tried googling this, but was so overwhelmed with ads and bad leads that I thought to try here. I need to automate my receipts. I am a Plumber with 9 employees, and I do my accounting with Quickbooks. My needs: Assign each receipt to the correct expense account (in my case almost 100% of them are Supplies and Materials), Assign each receipt to a Class (Service or Construction) and here is the tricky one. Assign each receipt to the correct customer so I can analyze which jobs are most profitable. I tried Entryless and it was SO CLOSE! But they could not do the customer one. They offer that, but only if you do your accounting with Xero (I think). But I am pretty loyal to Quickbooks. Does anyone know of any receipt automation software that could get me automated for Account, Class, and Customer? [link] [comments]  |
| Accounting software like Quickbooks Online Posted: 05 Feb 2020 09:42 AM PST I currently use Quickbooks Online, and have been using it for around 10 years now. Recently they did a rather large price increase for the service. When I started it was $360 annually. Now they want $750 a year. Are there any good alternatives that others use and are happy with. I am a single owner LLC that does software sales and support. I do not need payroll capabilities. I am looking to do invoicing, banking, estimates and keep track of customers. [link] [comments]  |
| My cofounder never told me he’s married Posted: 05 Feb 2020 10:26 PM PST I have a male cofounder. We work well together, get along as friends and are very professional. I'm a female and there is zero interest for him from my side and he has not indicated that he does either. We are building a startup and are also fb friends. I saw that he has wedding pics from 10 months ago (that are posted by others, but no mention of being married or photos on his fb). After months of working on our startup, he's never mentioned his wife. Though she seems to be out of the country, I think it's really odd and kinda seems like a red flag to me of possible dishonesty and hiding things in the future. I know we're professional cofounders, but why wouldn't he mention it? It's none of my business but I'm also a bit confused as to why he'd hide that piece of info. He'll talk about his mom, dad and sister, but conveniently has never mentioned his wife. Should I mention it to him or just ignore it seeing as it doesn't concern me? Am I looking too into it? [link] [comments]  |
| Posted: 05 Feb 2020 10:19 PM PST I may be opening an online store with somebody who I know, but don't know for that long of a time. I don't want splitting the payments we get to the store depend entirely on the trustworthiness of either of us, I wouldn't be comfortable with him handling the payments entirely on his own and I wouldn't expect him to be comfortable with me doing something that I'm not comfortable with him doing. So obviously we need a sort of joint account. From what I understand linked accounts just make it easier to send money to each-other and I want a little bit more than that. What options are there for dealing with this and how do you choose? We are in different countries (US an UK). I would also appreciate any other advice on managing trust with a new business partner when I have not done this at all before, since our working together is a pretty abrupt thing. [link] [comments]  |
| Finding clients for my wife’s business Posted: 05 Feb 2020 09:58 PM PST Hello, My wife recently started her own beauty salon as an esthetician. She has some regular clients but is really looking to expand her business. She obviously is looking to focus on younger women. What advice should I give her to find more clientele? She is a little stressed about it. I would sincerely appreciate any recommendations and advice. Thank you! [link] [comments]  |
| Best source for a small business loan Posted: 05 Feb 2020 12:55 PM PST My wife and I plan to purchase a business from someone else. What steps should we take to find a good source for a loan? [link] [comments]  |
| Posted: 05 Feb 2020 10:46 AM PST I work for a small business and I have been doing our employee birthday gift cards online for a while, I was told today that the managers would like to change how we get them out. Because of cyber security concerns they would like me to buy and send them manually with no online help. We have a Target right across the street and several other places nearby to purchase them in person, but I was wondering if you guys can think of anywhere else to purchase them. Either a secure way online or another way in person. Thanks. [link] [comments]  |
| Help understanding tax implications of selling another service through my business (photography) Posted: 05 Feb 2020 12:46 PM PST Background: I have a wedding photography business (my wife and I), and we've been talking with a smaller videography company (we met through working together on a couple weddings, like each others work + personality, etc.) about partnership possibilities. We've been doing a simple referral type program (we send them leads, they book, we get $), but have been further talking about offering their video services "whitelabel" through our brand. ie: we'd offer packages to our clients offering video and video/photography, we'd collect payments, and we'd distribute the videographers cut to them. Basically, the videographers would be treated as contractors to my photography business. Now, the benefits for my brand are pretty immediate: being able to offer video and keep those clients "in house" is a good selling proposition in my area, it diversifies the kind of content we can showcase and the clients we can attract, we'd obviously increase prices to make more money off the top due to our brand value + admin work we'd end up doing (would be pretty minimal but not non-existent). Basically this - I understand the value if the price can be right... And if I'm not screwing myself over in taxes... So, while I'll welcome feedback on the general partnership idea above, my largest concern is over tax liability. I understand I'd have to pay all the sales tax (6% in my state) on the package costs (and this would have to be taken from their "cut" to accommodate). Do I have any concerns to owing more income or self-employment (FICA) taxes on the income I generate then pay out to the video guys? Are there any other tax considerations (or anything else) I'm not seeing? Also - yes I have a CPA, no I have not asked yet as it's a relatively new discussion and I'm just looking for some preliminary feedback. Thanks for your time + thoughts! [link] [comments]  |
| Work vehicle + personal vehicle or use a work van as personal vehicle as well? Posted: 05 Feb 2020 07:19 PM PST Hello. I have a dilemma here. I need a new vehicle that I will use as my personal + work vehicle. Ideally i would like a van, its simply the best vehicle for my line of work. But i dont know if i want to drive around with a van as a personal vehicle too. My car i was using as my personal and work vehicle just bit the dust this week. I was then thinking... if i buy a van and use it as my personal + work vehicle just for a yr and save up some money for a new small vehicle thatd work. Can i write off the van completely? Who here used there vehicle for work and personal usage? I could buy a truck and itd be better but then my work would suffer slightly for the comfort of my personal usage. [link] [comments]  |
| Need ideas/suggestions on buying a cashflow positive business Posted: 05 Feb 2020 06:47 PM PST I'm looking to get some suggestions and recommendations on what sort of business to get into. My hope is that it can be an established, mostly hands-off business that will generate enough cashflow to allow my parents to retire. I'm hoping for about $5,000/month of cashflow. I'm trying to stay away from restaurants and fast food franchises. Currently, my top 3 considerations are: Bars/pubs, Beauty & hair salons, and Mechanic shops. My hope is to spend about $150,000 to buy the business, but if needed I can get a further $100,000 loan. I'm hoping you guys can give some suggestions! Many thanks [link] [comments]  |
| IT Question for Small Business Owners Posted: 05 Feb 2020 06:44 PM PST Hi everyone, In your small business, do you back up your data? Do you formally and regularly do this? For example, writing all the data on your system's hard drive to a data tape and storing it offsite in a safe, or uploading the data to the cloud. And doing this regularly (like monthly fullsaves of the entire hard drive). Do you do this? Why or why not? What steps might you be taking to archive your data for disaster recovery or business archive purposes? [link] [comments]  |
| Posted: 05 Feb 2020 08:44 AM PST We are shutting down the office for a week to take a much needed corporate retreat. In the past, we've simply shut down with a simple, we are closed for a week's message. However, this winter, our business is busier than ever. We will be answering emails and a limited number of phone calls, but after 7 days a week for pretty much the last year, we needed a mental health break. I am sort of stumped for wording. [link] [comments]  |
| Looking for direction on company type Posted: 05 Feb 2020 01:37 PM PST North Carolina here. We are finally putting our clothing brand into a legitimate business model (mostly be online sales) and I'm looking for some direction on whether or not to file for an LLC. I want to go the way of an LLC for two reasons...
Does that make sense? If you had 2 businesses you'd be operating would you form the LLC and than use a DBA for the 2nd one? [link] [comments]  |
| Anyone have any recommendations for a customizable order manager for a smallish business? Posted: 05 Feb 2020 04:04 PM PST I am currently in the process of guiding the company I work for in the process of transitioning from paper orders to a digital system. There are numerous benefits to this, but I cannot find a single program that will work well for our needs. We currently have an order form that we fill out on paper, where we specify the customer's name, number, email, etc., as well as their product style number, description, quantity, price, and so on. I am trying to find a program that will allow me to customize a digital order form into something like the above. I want to be able to push the order to different accounts based on whether or not the new art check box is checked, things like that. I have considered coding it myself for us but I am not confident in my abilities to do the networking and online part of it. Does anyone know of any program I should investigate? And help is greatly appreciated, thank you very much! [link] [comments]  |
| Are Business Expos and Conventions worth going to? Posted: 05 Feb 2020 03:08 PM PST I just started my small business (we sell clothing items). My partner thinks we should look into going to a local Business Expo or Convention to help spread the word about our business.
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| Normal? Commercial lease LL — asking now for biz plan & personal finance statement Posted: 05 Feb 2020 02:59 PM PST I'm in the process of opening up a yoga and wellness studio (been in biz 5 years) and since late November 2019, have been in lease discussion. I have the final version of the lease which we negotiated and am now waiting on banks for final loan amount. I even said up front that I was working with banks and happy to sign an LOI (letter of intent) as I worked to secure capital, which I need. They declined saying the LIO wasn't needed, given our good rapport and relationship up to this point. Now, the landlord is asking to see my business plan and personal financial information (didn't ask for my biz tho) based on them not "understanding" how I was working with banks. This raised flags for me now...and even my biz mentor said it was unusual for such an ask on a commercial lease. I'm the transparent and honest type — perhaps to a fault — but this feels off to me. This isn't the first time my "radar" went off, but now it's really having my second guessing if I want to work with them. Any thoughts or experience directly related to something like this is appreciated. [link] [comments]  |
| Question for Restaurant Owners re: Food and Beverage Minimums Posted: 05 Feb 2020 02:19 PM PST Hi everyone, slightly long, but I was looking for some honest feedback regarding something that had happened last week. Curious to see what other restaurant owners would do in this situation? This past Monday afternoon, on January 27th, 2020, our company, is a voluntary, nonprofit trade association. We represent paint and coatings manufacturers, raw materials suppliers, distributors, educators, and students. An important objective of ours is to provide technical education and professional development to its members and to the Northern California coatings industry through its monthly technical presentations, technical documents, job assistance and scholarships. We recently dined at a local Italian family owned and operated restaurant that we have frequently held our monthly lunches or dinners almost quarterly since 2015. (Dishes range from $15 - $37 on the higher end.) During our past visits to the restaurant, we joined as a group, attendees ranging anywhere from ten to thirty people depending on the time of the year and we've always had a pleasant experience, hence why we've been coming back to this restaurant all these years. However, this past Monday we came in for a reservation that our director had made with their general manager / event planner email. Total attendance that day was 16 people. As I mentioned earlier, we have dined at this restaurant many times over the last few years, but to be specific, we visited on the following dates, spending the following amounts: · 4/9/2019 $1,168.08 Here are the original two receipts that they had given to us at the end of the evening. Notice the Item Line "unmet minimum $1,940.00". After discussing with the manager that day, they did adjust the bill by $200.00, which resulted in the final amount to be $2,919.38. This was the first time we had even been billed like this. All other times that we have dined at their restaurant, we were billed for food served (per dish) and the services rendered. We were never billed any sort of minimum as seen from all the previous transactions and bill amounts from the restaurant. Here's the sticky part, technically, our director who booked the event, did overlook the"food and beverage minimum" disclaimer that had been included on the last page of the packet that he was sent over as an attachment from the event planner. They said that we were billed this way because it was "towards the end of the holiday season" January 27th? I would think this is well past the "holidays". However being that this restaurant has a great reputation of being family-owned and operated, I think that we could have been advised as a general courtesy if the staff foresaw that with 16 people we were not going to meet the food and beverage "minimum". When our food orders only accumulated $560.00 in sales, they could have perhaps suggested that we be billed in a more reasonable manner – i.e. per plate at regular price. Also, I should mention, that it was not a situation where the meals were pre-made or that there was any food wasted. The dishes were made to order when we had ordered and we only had the option of 1 of three entrees, and a choice of coffee, water or iced tea. No one offered wine or even told us that we hadn't met the minimum until the slapped the check on the table. After contacting the restaurant staff several times, they ignored my requests of a corporate email address of the owners, I mailed a copy of the letter via USPS, emailed and sent via Facebook messenger to the company page, a long very kindly and professionally written explanation of what had happened, hoping that there would be a courtesy extended taking into the relationship we've made with the restaurant, they wouldn't budge. They responded by saying that there was an email agreement agreeing to the charges and we would not be given a refund. All in all, I'm posting this because I feel that we that we were hugely taken advantage of in this situation and as mentioned earlier, we had never been billed like this in the past even when we had more attendees with us. It saddens me that a "family owned and operated" business would conduct business this way, while they clearly don't have any consideration for their long standing customers who bring them consistent business and take advantage of patrons based on technicalities. It may not seem that $~2,000 is a big deal, but again, we're a non-profit that doesn't have a ton of money in the first place to afford these types of mistakes. Curious to see what other restaurant owners would do in this situation? And if I should pursue any further options or just let it go? Thank you in advance [link] [comments]  |
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