How to keep my souvenir business alive during covid. How to sell when there are no tourists? small business |
- How to keep my souvenir business alive during covid. How to sell when there are no tourists?
- We sell low volume, high-value items ($20-70k) with a long lead time (9-12 months). What's the best method for accepting payments?
- How to give my business money without "commingling"?
- How do I charge for setting up a small business?
- How do you guys deal with situation like this - client meeting before quotation
- Tax Deductions for Business Expense
- What's your current business and how do you scale it?
- Social Media Advertising (Market Research) - Food & Beverage Industry
- Helpful software for small businesses
- New business commercial auto loan?
- Starting a business during COVID
- Looking to start a tele-therapy site with a licensed therapist and need help. .
- How can I purchase a stake in a company without liquid capital?
- Aim for a niche product line or go for a broad spread in motorcycle e-commerce, after owning a physical location
- How to start a sticker business for charity?
- Client review before start of work
- Technical skills vs soft skills for a freelancer
- Business Sold - Tax Loss Advice
- How to make money with a pick up truck?
- Help setting up business finances correctly.
- Can’t please every customer!
- accounting software - what do you use and how do you manage backups?
- Working full time for fed govt, have a 2nd side job (w2) and am an IT consultant
- First Time hiring
- Client Filed Chapter 11. We have about $1000 in open invoices. Is it worth pursuing a claim?
| How to keep my souvenir business alive during covid. How to sell when there are no tourists? Posted: 06 Jul 2020 11:16 PM PDT Hi, I run a small souvenir business, (selling products I make myself) in Australia. Due to coronavirus, the borders have been shut for months, and probably won't open until next year. So of course, there are no tourists, therefore no customers. So I'm trying to think of ways to sell my products to locals. Does anyone have any ideas of how I could market to locals? Is there any reason why a local would want to buy a souvenir? Any help would be appreciated. How can I pivot? Edit: I also sell online. But it's very unlikely someone who hasn't visited the country will buy a souvenir and have it posted to them... more info: I sell Australian themed T-shirts and totes that are made by myself. I don't have a brick and mortar store. I used to sell at markets frequented by tourists. I now only sell online. thank you [link] [comments]  |
| Posted: 06 Jul 2020 06:05 AM PDT We accept 10% upfront to place the order, then there's a lead time of approximately 9-12 months until we ship the goods when the rest is paid. We've been sending invoices and accepting bank transfer to date, but we would like a sleeker option to give to clients. Card payment portal fees become extortionate at these sort of payment values. Are the tech solutions that cater for this? [link] [comments]  |
| How to give my business money without "commingling"? Posted: 06 Jul 2020 07:35 PM PDT I'm in the process of starting a business with very low startup costs. I've read that if I commingle funds between myself and my business, then I can lose LLC protection. I really have two intertwined questions:
I want to open a business banking account. But the money that's going into that account is my personal money from my paycheck at my day job. How do I record this in my financial records? Am I investing in the business? Am I giving a gift to the business? Am I loaning to the business? I want to pay for the costs of forming an LLC using my business bank account. However, I don't think I can open the business bank account until I've formed the LLC? Doesn't this mean I will have to use my personal money to form the LLC, then open the business bank account, then "loan" my business the cost of forming the LLC, then immediately pay myself back? I hope that makes sense. I'm in the US, if that matters. Any help would be appreciated. [link] [comments]  |
| How do I charge for setting up a small business? Posted: 07 Jul 2020 02:26 AM PDT I started marketing individual artisans (got some ideas here too!) and I got the chance of setting up a workshop for a small investor, not a big budget but I really want to do it. This means finding a location, moving and installing the machines and tools, legal stuff, website, setting up marketing and CRM, social networks... After the business is working I will give him all keys and credentials and ride into the sun with my hard-earned money. This is something that I always wanted to do, but how much do I charge him for this? I'm interested in the logic of a fair fee, when I get another customer. Do you guys know any good book or course about this 'setting up small businesses for others' thing that can help? Thank you for your help again, this sub rocks. [link] [comments]  |
| How do you guys deal with situation like this - client meeting before quotation Posted: 07 Jul 2020 02:06 AM PDT So I received an online enquiry today from our website, a client would like to meet with us at their office (30mins commute each way) to discuss their project. I replied to them saying I'd love to meet but it would also be helpful if I can send you an estimate on how much such project would cost so that they know the cost aligns with their budget. Client replied my e-mail saying they want to see if we are the right partner first. And I have yet to reply them. I've had previous experience where I would just go: 'sure let's meet I'll come to your office!', had the chat, got the scope of the project, send them a quotation only to find out that it was way over what they are willing to pay, and that's 2 hours wasted. Since then I've always do a quick 'budget qualification' before attending to a meeting, but this is the first time a client refuses to give me the information I need to do that. Should I just go to the meeting? [link] [comments]  |
| Tax Deductions for Business Expense Posted: 07 Jul 2020 04:44 AM PDT So long story short i am paying a company in another country to do some work for me. Can I use that as a business expense? Also, just so i understand it right ill provide an example: Revenue is 100k Expense to other company is 20k So profit is 80k - am i taxed on this? A resource i read said id be taxed on 60k, not 80k Thank you! [link] [comments]  |
| What's your current business and how do you scale it? Posted: 07 Jul 2020 04:43 AM PDT |
| Social Media Advertising (Market Research) - Food & Beverage Industry Posted: 07 Jul 2020 04:32 AM PDT Hey everyone, I'm interested in starting up a business centered around digital & social media marketing for businesses in the food & beverage industries. I have a form attached below with some market research questions in this field. If anyone owns a food or beverage business or has knowledge in this area, I would greatly appreciate if you would be able to answer these questions! [link] [comments]  |
| Helpful software for small businesses Posted: 06 Jul 2020 08:05 PM PDT I love the idea of helping others achieve their business dreams. I am a skilled software developer and I want to make tools to help others run and grow their business. With that said what are some tools you think would be useful to small businesses. Thanks in advance ! [link] [comments]  |
| New business commercial auto loan? Posted: 07 Jul 2020 02:33 AM PDT Is it possible to get a comm auto loan despite not having existing cash flow statements? Im in the works of buying a food trailer and need to get a truck to tow it. [link] [comments]  |
| Starting a business during COVID Posted: 06 Jul 2020 02:36 PM PDT Considering starting a business during COVID, but unsure what resources are available to me regarding startup costs. I know theres some COVID loans, small business loans, etc. Just looking for information, thanks! [link] [comments]  |
| Looking to start a tele-therapy site with a licensed therapist and need help. . Posted: 06 Jul 2020 05:18 PM PDT Hello everyone my friend I are looking into running a online therapy session site and are a bit confused on how everything would work. We are based in PA but what type of licensing would we need and qualifications? He is a Licensed therapist and I a RN going for my PMHNP. I can't find too much info on the matter that's why I came here to ask.. [link] [comments]  |
| How can I purchase a stake in a company without liquid capital? Posted: 06 Jul 2020 06:30 PM PDT Hi all, I would like to find a way to buy into a client's company without having the initial capital to do so. In short, I started and own a small marketing and development company. One of my clients that I've been with for 3 years has become a great partner. The owner and I are great friends. We golf together, get dinner, etc. I understand their business model, their opportunities, threats, finances, etc. I started my company when I was 21 and I'm now 25. Being so young, I obviously bootstrapped my company and its grown well. This client has been in business 19 years. They gave a developer 33% to build the software. For ~17 years, he has been a completely silent partner, only having judgment when it comes to development, as the majority owner hasn't the slightest clue about anything development-related so they depend on his input. The majority owner has vast connections in the space this company services so they definitely pull their weight. The problem this client has with their silent partner is that he is remarkably slow to respond or take action on needed development issues. He's found a dev firm that he's in love with but they take 4x as long to complete each SOW while charging above market rate. If these issues were fixed promptly and within market rates, the company would be much better off. The owner has asked (begged) for months now for me to buy the partner out. I know all of their finances, how much their employees are paid, their net profit YOY, the size of the industry, their competitors, so I know they're not in a bad place financially, but this partnership has come to a head. I don't have the liquid capital to buy him out outright, and I don't have the best credit (stupid decisions as a 19-year-old). That said, I would love to find a way to buy into this company because I can easily turn them profitable again if I'm not obfuscated by this silent partner's control. They also have several close partnerships with other companies in the industry that would acquire them if they ever offered, so I wouldn't be sitting on this investment for 25 years waiting for a payday. Are there any options I can look into? Loan programs that I can service monthly? At loan market rates, I'm 100% sure I can pay a loan each month, but just not sure if I'd even be able to get a loan, so I'm just looking for guidance on the issue. Any advice is greatly appreciated. One last thing to note: the silent partner has expressed interest in being bought out, so there could possibly be an option of buying him out monthly, but I don't have a clue what that looks like. Thanks! [link] [comments]  |
| Posted: 07 Jul 2020 01:37 AM PDT On the weekends I help run a small motorcycle repair shop, that's taken a little bit of a hit since COVID. Fortunately it hasn't been anything dramatic, but it's enough of a drive to finally start trying to do something with e-commerce. For some background, I've been a web developer professionally for close to a decade, with plenty of experience in the e-commerce field. Unfortunately, not so much on the marketing side of things (but I'm learning). We have a range of trusted suppliers for a variety of products, that are willing to do whitelisted drop shipping to clients in the US. I figure this would be a perfect way to get a store up and running and experiment with it while using as little startup capital as possible. The biggest hurdle though, is product focus. Let's say that as it stands, we have 5 different products that are our best sellers in-store. They're from completely different categories (think handlebars, helmets, tire accessories, engine maintenance, and exhaust kits). I'm torn with the following thoughts:
Have any of you experience something similar in your field? At first glance, would you have any suggestions or insights into things I could do to narrow down or decide which one of those scenarios would work best? Thanks in advance! [link] [comments]  |
| How to start a sticker business for charity? Posted: 06 Jul 2020 06:50 PM PDT I'm a high school student and I want to start a sticker business possibly on Etsy or Redbubble (whichever one is better). I want to be able to do something to help causes I'm passionate about by selling designs I make on stickers (relating to the cause) and donating the profits to the organizations. How can I get started and how would I go about this? Also is there any information I must know before starting a sticker business? [link] [comments]  |
| Client review before start of work Posted: 07 Jul 2020 12:41 AM PDT Our company signed up with an intermediary for referrals during a slow season. When business picked up, actually exploded, we forgot to cancel the referrals service and had a referral. We followed through with a site visit and estimate, which the customer accepted. Also, the customer was informed we had a lengthy wait time, which they said was ok, and that we actually shortened for them by about half. They've also been challenging to get ahold of in all manners. Then they went in the intermediary's site and gave us a three-star review. They state it's a review of our office and that they haven't been able to get a hold of us. We are booked through September already and don't want to do business with someone who is already proving to be difficult and unreasonable in the evaluation of us before we've done work. Not to mention if it rains during the scheduled work time, our schedule will be totally thrown off which this person seems to lack the ability to comprehend. How do we politely decline working with them but avoid a bad review elsewhere? Anytime someone starts off this way, we would normally decline availability. I don't think they we are the right choice for them. [link] [comments]  |
| Technical skills vs soft skills for a freelancer Posted: 06 Jul 2020 11:03 PM PDT Hello together, in 8 months I'm going to start working as a freelancer. I'm into software development and working currently for a 500+ Company here in Germany. While working here I noticed that I lack some social skills ( trying to be always right, afraid of making mistakes, offended if someone dislikes my ideas... ). The book "How to win friends and influence people" opened my eyes and I started to notice some mistakes I make ( Probably there is much more to discover :)). So the question for you guys, if you have 8 months left before starting as a Freelancer what would you focus on? And sharing your story and other Tipps is more than welcome. Thank you. [link] [comments]  |
| Business Sold - Tax Loss Advice Posted: 06 Jul 2020 12:04 PM PDT Long story short, my landlord ended-up taking over my business due to COVID, and the purchase price was a fraction of what I paid for the business 2 years ago. I understand there is a realized tax loss that can be reflected in 2020 taxes. The business was organized as an LLC with an S-Corp election for tax purposes. I am also planning on dissolving the legal entity as it is only linked to the business I sold and would like to avoid the $500 annual report fee for MA entities. My question would be if I can go ahead and dissolve the legal entity without losing the ability to claim the tax loss when I file 2020 taxes. Just looking for directional advice, I'll talk to my CPA about the details when it is time to file 2020 taxes. Thanks! [link] [comments]  |
| How to make money with a pick up truck? Posted: 06 Jul 2020 10:02 PM PDT Hi all, so I've recently acquired a Ford F-250 that's rough around the edges but still has a long life ahead. I immediately began to think of the ways I can use it to make money. I really like working with my hands and I want to provide a real service that can help people. Handyman services particularly caught my eye. But what are some unique opportunities you suggest? [link] [comments]  |
| Help setting up business finances correctly. Posted: 06 Jul 2020 07:40 AM PDT Hello, I'd just like to say thanks in advance for any input and help on my post!! I am currently employed in the construction industry Monday to Friday my boss pays me and my tax and national insurance is already taken off. Now.. I am keeping my day job (as it is my guaranteed income) and I have bought a car and competed all the tests to become a taxi driver and I'm going to work for myself on some nights and every weekend which would make me both employed and self employed. My understanding is that my tax free income is used up in my current job so all earnings from my taxi business would be taxed at 20% could I just set up a business bank account and deposit into it and open a separate account and move 20% of my income into it every week? Further questions... How do I register my business ? And would sole trader or ltd be better ? Do I need a business bank account ? How exactly do I pay my own taxes ? What receipts do I need to keep ? Thanks for reading ! [link] [comments]  |
| Posted: 06 Jul 2020 09:21 PM PDT Hi all, I'm new to the small business world and have one myself. Currently I am extremely responsive to my customers at all hours of the day (morning, night etc.) I try SO hard to please all of my customers. I am new to this, and easily discouraged when a customer is unhappy. I know that every customer cannot be happy, its impossible in todays age. I also really need to limit the hours I'm responding to customers. What are some helpful tips/tricks? [link] [comments]  |
| accounting software - what do you use and how do you manage backups? Posted: 06 Jul 2020 07:58 PM PDT I see a lot of vendors are going to the cloud with their existing software and a multitude of others that are cloud only. However, almost all of them provide best-effort uptime (no SLA), backups are done but can't be restored on a per account basis, and there's no viable self-backup option. Sure you can export a CSV of your chart of accounts, but there's no single backup that I can download daily or weekly and then restore if there's an actual issue. For the amount of money they are charging, I'm kind of surprised at the limitations each one provides and how many users accept the risk of data loss and lack of SLA. I mean, what if you have someone that makes changes to your accounting data by mistake or deliberate, deletes something by mistake, etc... I don't see how you can recover from these issues. I know QB still makes desktop software, but what other vendors still make desktop software for small businesses? I'd really prefer to own my data and be able to backup and restore as I see fit. [link] [comments]  |
| Working full time for fed govt, have a 2nd side job (w2) and am an IT consultant Posted: 06 Jul 2020 06:36 PM PDT I currently work for the federal government and this position has not been affected by the COVID-19 pandemic I also have a side job (W-2) and has been heavily impacted by COVID-19. I also do side IT jobs as a private IT consultant, hours have been limited due to COVID-19. Can I apply to any of the COVID-19 related loans? I live in NY state Any help or guidance will be appreciated. [link] [comments]  |
| Posted: 06 Jul 2020 07:57 AM PDT Hi everyone, I was wondering if anyone could guide me through the process (steps if possible) of hiring a full time or contract employee? Located in Ontario, Canada A little background - my current business is eCommerce related so I did not have to take any employees on board. I just had my family help ship when needed. Currently, I'm looking to start a virtual receptionist company so I would need to bring on my first agent (whether that is full time or contract). Anyone can help me out with which accounts I need to open with the CRA, other steps to take etc? Appreciate it! [link] [comments]  |
| Client Filed Chapter 11. We have about $1000 in open invoices. Is it worth pursuing a claim? Posted: 06 Jul 2020 04:37 PM PDT We've received a few bankruptcy notices over the last couple months from former clients, but today I got a notice of filing from a current client. They're pursuing Chapter 11 bankruptcy. Looking at our open invoices with this client, we have just under $1000 in open, unpaid invoices that I'm assuming won't be paid. Is it even worth pursuing a claim in the bankruptcy court? [link] [comments]  |
| You are subscribed to email updates from smallbusiness: Questions about 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