[EIDL/PPP Megathread] The programs may be over but forgiveness and repayment are still major issues. Post questions about the programs here. small business |
- [EIDL/PPP Megathread] The programs may be over but forgiveness and repayment are still major issues. Post questions about the programs here.
- A customer made accusation that one of my employees stole a phone and turned out she was lying. Have you guys had any experiences like this? How do you handle it?
- Thinking of opening a pizza place. Looking for advice from other pizza shop owners ?
- i made my first sale yesterday
- A manager at one of our competitors keeps telling customers that we are a second hand store.
- My husband and I are going to open a tabletop game shop within a year or so (depending on the state of the world). Anyone here own a similar shop who has some wisdom to bestow?
- Ecommerce Recommendations System Advice
- Need help with a name!
- Looking for cloud based software
- Why is entrepreneurship identified with small business?
- My new Business Feedback
- Bookkeeping for the beginner.
- New Stimulus Package Proposal by House
- Negative GOOGLE Reviews from ex-employees: What do I do?
- I’m looking to start my own small business video production company. Do I need to form an llc or can I worry about that later ? Where can I go to form an llc?
- Starting business equipment?
- When do you call it quits and run?
- How should I grow service business with $10k MRR?
- Idea: Rural IT & Digital Marketing firm
- Army recruiter last minute appt and employee will miss work is this normal.
- 2 member LLC with mixed nationalities, what should I demand as compensation?
- Looking to make my small houseplant business “legal”
- Pls help "LLC FINAL NOTICE BEFORE LEVY" I canceled my LLC
- Starting a Bass Fishing Equipment Rental Service in South Korea.
- Growth
- Changing from Sole Proprietorship to LLC/S Corp
| Posted: 28 Sep 2020 12:09 PM PDT We consolidated questions about EIDL and PPP to a Megathread so they didn't take over the sub totally (and there are some good subs that have started just dedicated to those two programs). We will probably continue the threads for a little while longer until they stabilize and/or we see if there will be more of them. Please ask and answer questions about these programs here to avoid issues with the filters. Remember that you are not asking questions of your CPA or lawyer and their opinion counts much more than a random voice on the internet. That said some folks have studied these things and may be able to provide tips or help in finding the right answers. [link] [comments]  |
| Posted: 28 Sep 2020 05:45 PM PDT We were working at a hotel today and a hotel patron, came up with some elaborate story about my black employee was scaring her so much that she ran off without her phone and my black employee picked it up off a bench in front of the hotel. She went to the general manager and was screaming at her about my employee, saying the N word and all this crazy shit, in the lobby of a Marriott. Calling him a thief and blah blah blah. I told the general manager to give me her cell phone number and I would call it near my employee and listen for it to ring in his pocket, just to make her feel at ease. Of course his pants didn't ring but the dumb bitch literally answered her phone, just minutes after saying it was stolen. It's crazy how people have no shame. They find an easy target and try to get free stuff, if I would have believed her, my best employee would have been out of a job and I would have had to pay for the phone, taking food off of the table for my kids. These people are just pathetic. Do you guys have any good alleged employee theft stories? [link] [comments]  |
| Thinking of opening a pizza place. Looking for advice from other pizza shop owners ? Posted: 28 Sep 2020 11:37 AM PDT To start off I would like to say I have some family members who own pizza shops in other states. And my grandfather as a potential investor. I also have experience working for a large pizza chain. And experience working for a ma & pop small town pizza shop. I'm looking for general advice about opening a pizza shop. I know how operations work. But I have no idea what all goes into the actual start up of a pizza place. My idea would be a smaller shop in a small shopping mall start off with a smaller menu with basic stuff and build up from there. I would work there full time. And I have a friend with restaurant experience (not pizza though) who would also work full time as my right hand man. I would like to offer dine in/take out, as well as delivery through a company like GrubHub. So basically. I'm here to gather advice from pizza shop owners about do's/dont's with starting a shop. And also advice on whether it's worth it or not. The area I live in is very saturated with pizza shops. But it's a large city with a huge population. All the pizza shops I've ever been to here have stayed very busy even through this time of covid. [link] [comments]  |
| i made my first sale yesterday Posted: 29 Sep 2020 03:28 AM PDT i just wanted to to let that out. i'm overjoyed :) [link] [comments]  |
| A manager at one of our competitors keeps telling customers that we are a second hand store. Posted: 28 Sep 2020 03:49 PM PDT I've heard the same thing from three customers now. They went to a certain big box store, and a certain manager told them we're a second hand store (we're not) along with other expletives. So of course they are very surprised when they come in. Is there anything I can do about it? [link] [comments]  |
| Posted: 28 Sep 2020 12:59 PM PDT I will still have a part time job with health insurance, but I want my husband to be able to run our store like he's always dreamed of. It's a pretty good area for things like DnD, Pokémon, Yu-Gi-Oh, etc. and there isn't a game store in the town we want to set up in just yet. We know already that we won't be making a King's Ransom, and have general knowledge of what we're doing, but we would really like some advice and guidance from someone who has similar experience. Just some dos/don'ts and things we probably haven't thought about yet that someone who's been there would know. Thanks! [link] [comments]  |
| Ecommerce Recommendations System Advice Posted: 29 Sep 2020 04:28 AM PDT Hi! [link] [comments]  |
| Posted: 29 Sep 2020 12:34 AM PDT Hi everyone, I'm trying to come up with a name for a women's nightwear(pj's, robes etc) e-commerce business which is all about body positivity, women empowerment and ethical fashion. Every garment is handmade by a team of 8 women. I would like to share some of my ideas so you know what type of a vibe im going for; -mighty granola -w.u.s (wake up slow) -snoozers club -holy reverie Any input is highly appreciated. [link] [comments]  |
| Looking for cloud based software Posted: 29 Sep 2020 03:46 AM PDT Hi all, I'm looking for a way to improve the organisation of a small landscaping business and the way we store customer details. Off the top of my head I would like it to be able to:
All the ones that are commonly suggested look overly complicated to me and have lots of features I'd never use. It needs to be simple to use as variety of people will interact with it. Any ideas/suggestions?! Thanks in advance, Sam [link] [comments]  |
| Why is entrepreneurship identified with small business? Posted: 29 Sep 2020 03:27 AM PDT Is there an almost negligible difference between being a Small Business (SB) proprietor and a business person? The jobs really share a ton for all intents and purposes. However, there are particular contrasts that set them apart. Independent companies as a rule manage known and built-up items and administrations, while pioneering adventures center around new, creative contributions. Along these lines, entrepreneurs will in general arrangement with known dangers, and business people face obscure dangers. Restricted development with proceeded with productivity is what is sought after in most independent companies, while enterprising endeavors target fast development and exceptional yields. Therefore, pioneering adventures for the most part sway economies and networks in a noteworthy way, which likewise brings about a falling impact on different divisions, similar to work creatively. Private ventures are more restricted in this point of view and stay limited to their own area and gathering. [link] [comments]  |
| Posted: 29 Sep 2020 03:20 AM PDT Hi i have recently started a new business in my local area, just thought i would share my Website and FB page here. Any feedback is appreciated https://www.facebook.com/pccarerugby Thanks. [link] [comments]  |
| Posted: 28 Sep 2020 09:33 AM PDT I hope there are others who have been in this situation and know how I feel, but when it comes to the finances and bookkeeping side of starting a small business, I know nothing. Feel free to ask questions and I will edit any answers into this post but here we go. I am an archivist and a few years ago I started to preserve family collections on the side as a Freelancer. Earlier this year, I decided that I wanted this to me my only career, so I've slowly been getting things in order to make it a full time business. Now, I know what I need to do when it comes to the main draw of my business, that's not an issue, but if there's one thing that I dread it's bookkeeping. Frankly, I don't know what I'm doing when it comes to keeping records, I don't know what records I need to keep, I don't know how I need to keep them, etc. So, if anyone can link me to good tutorials and resources, I'd greatly appreciate it. I'm looking for the following: 1) Tutorials with explanations on what I need to keep and why On top of that, I actually would like to do bookkeeping manually, at least at first because it honestly helps me know what I'm doing later when I can actually afford bookkeeping services of some sort. [link] [comments]  |
| New Stimulus Package Proposal by House Posted: 28 Sep 2020 06:23 PM PDT Monday evening the House released details for the new stimulus. Here is a Forbes article on it. Here is a video explaining some of the details. I'm posting this to start discussion on small business related provisions in the bill, such as PPP (a second round will have stricter restrictions and aim for smaller businesses), employee retention tax credits, UI (affects our employees coming back), and PUA. [link] [comments]  |
| Negative GOOGLE Reviews from ex-employees: What do I do? Posted: 29 Sep 2020 01:19 AM PDT I recently started paying attention to my online presence. I found my Google listing and I've claimed it and requested a post card. It's been weeks and I haven't received it yet. I checked the reviews and they were pretty bad. The thing is I would've accepted negative reviews from customers but these were just from ex-employees that were fired. It seems some sort of vengeance. They keep adding more and more negative reviews. I basically have less than 5 reviews that are from customers. All of the reviews I have are from ex-employees. This has damaged my business. Unfortunately, since my business isn't verified yet I can't even flag them. I just don't know what to do anymore. There are so many negative reviews now that I'm blank. It seems these people have a lot of time on their hands and I just don't. What do I do? How can I get those removed? Is there a way I can just stop people from reviewing? Just any advice will be helpful. [link] [comments]  |
| Posted: 28 Sep 2020 02:05 PM PDT |
| Posted: 28 Sep 2020 06:48 AM PDT I'm looking at starting a business, im scared and lacking confidence on the decision but im also super excited and believe I can do it, given the right tools and research. With that said, I want to do a transport company. Start off small with a single dually with a 3 car carrier. Ill start on the truck and want to grow to eventually ill run the office. I'm looking to stay under CDL level for awhile, mostly because I dont have experience with that, and I wouldn't want to hire a cdl driver that I have 0 knowledge of needed experience and such. I have some of my own start-up money, lets just say 75k free and clear, 25k in my savings and 10 in my checking. Do I buy the truck and trailer cash, so everything is profit? Do you get a personal loan? Try to get a business loan? (Which if I just established the llc, would be practically impossible?).... Just curious the best way to go about it. [link] [comments]  |
| When do you call it quits and run? Posted: 28 Sep 2020 11:25 PM PDT I'm am new to all of the small business ownership this year. Signed a long term purchase agreement where I am currently a part-owner for a year and will be due to take on full ownership next year. Of course these plans were all made before the Covid-19 lockdown when the business was actually profitable. Prior to all of this, the business was good and we had a bright outlook for this year. Forward to the lockdown. Since April we have been unable to provide any kind of liveable salary to ourselves as the business has performed so badly. We have cut overhead and are working to implement new ideas for revenue. The margins in this field are so tight to begin with that it all seems futile. I know the seller is going to push for the buyout and the clock is ticking but every bone in my body wants to run screaming at this point. Way in over my head. I have already invested a lot and the unexpected cut off from any kind of salary with no improvement in sight is getting more stressful with every passing month. How long is a business even a business if there aren't any profits? If I need to get a job to support myself while running the business then I'm afraid I won't have enough time (hours in the day) to put in the work to actually save it. [link] [comments]  |
| How should I grow service business with $10k MRR? Posted: 28 Sep 2020 10:24 AM PDT Over the past three years, we've built a side business that does $10k MRR with 50% profit margin. 100% of marketing is organic SEO, with ~10k visits to blog posts that go into a sales funnel. Article -> Free downloads -> email sequence -> sales call -> purchase. This is not our core service, but something we created based on customer demand. This service focuses on healthcare companies with fewer than 50 employees across the US. It's a fully remote business. We have mature operational processes on the back-end for onboarding and support. I'm trying to figure out what to do. I think it has potential for growth, but I'm focused on our core, strategic products. I've tried hiring sales and marketing experts to grow the service, but none have succeeded. What do you think is the best path forward? Here are some options I'm considering: 1) Sell it to a competitor. As a service business it would probably only fetch 1-3x revenue, but there might be some added value in the sales and marketing funnel. 2) Find a partner who can help me grow it. Someone young and hungry who could drive the business forward in exchange for equity and profit sharing. 3) Hire a manager. While it would drop profit below $0, it would hopefully grow with full-time focus. This would be a tough hire -- this person would need to be a jack of all trades. 4) Hire a commission-only sales person. Not even sure if these still exist. 5) Invest in advertising. I've tried this in the past -- spent over $30k with no results to show for it. So not sure where to go from here. What would you do? What ideas am I missing? Thanks in advance! [link] [comments]  |
| Idea: Rural IT & Digital Marketing firm Posted: 28 Sep 2020 10:07 PM PDT Hi all First off, please let me know if this post breaks any sub rules. If so, I will take it down. I've been a digital marketing specialist for the last 5 years or so. I specialize in both Paid and Display advertising, DoubleClick, Google Ads, you name it. Due to COVID-19, I've been living with my partner in rural NSW, Australia whilst working from home in a lovely little town (the name of I won't say). I have noticed a distinct lack of IT services in the area, both for software and hardware. I am asked almost on a daily basis to visit a local to help with their PC issues, as PC's are also a keen hobby of mine. I don't charge for these services, but I won't turn down a cold beer with them. I was thinking of setting up a small business providing technical support, computer repair (virus removal, software installation, etc), custom PC building, and Paid Digital Marketing services. This could go as far as running an Ads campaign for a local business, or a small fee a month to maintain their Google My Business Page (half of the local businesses don't even have one, and the ones who do are poorly maintained). The other part would be providing technical support for the local businesses in the immediate area. With the current economic climate in Australia, this isn't an idea I will act on right now, but has been cooking away at the back of my head for the last year or so. This will also allow me to settle down with my partner who has permanent work out here. Thoughts / feelings? [link] [comments]  |
| Army recruiter last minute appt and employee will miss work is this normal. Posted: 28 Sep 2020 03:56 PM PDT Update: employee and recruiter both explained it wrong. It was last minute but he was not lying. He is going for the meps and the test. Recruiter has done everything with him last minute and fast paced probably so he doesn't back out. Thanks for all your help Sorry if title was useless but I have an employee who is talking to a recruiter about joining the army. Here is my problem.
I told him that wouldn't work for me. He said that's the only dates he has available that he has to go. I just told him if he misses work tomorrow and Wednesday he is suspended for 3 weeks. I am short staffed 4 employees total because 2 are related family and had a family emergency (death) and the other has been on vacation for 2 weeks. I'm usually pretty flexible and try to make it work but I feel like it's unresonable to expect someone the day before to drop everything and go. He is also not the best employee and has called out 10 min after his shift started when he was the only driver on schedule. Is it normal for things to be so last minute and forced to go on this specific day /time? Can I get in trouble for suspending him if he misses work? He had someone call, did not sound like an army recruiter, and say he needs to be in Boston it's the only time that works and that your interfering with the government. Also that it's illegal for me to suspend him for missing work even though he gave me less than 24 hour notice. Am I being wrong on this? [link] [comments]  |
| 2 member LLC with mixed nationalities, what should I demand as compensation? Posted: 28 Sep 2020 09:33 PM PDT So, I am in the US and have a former coworker in India. We formed an LLC to provide offshore software helpdesk support to other small businesses. We're both listed as members on the paperwork, but to avoid him being required to be in the bank to open accounts, we've changed the operating agreement such that I am 100% owner. His idea, he has the offshore manpower who will all be 1099'd. My role is to open the bank accounts, rent a mail drop for clients to send payments, collect the payments, and deposit them. Ultimate goal is mid five figures for monthly revenue. What would you consider fair compensation for my services and for being the only US citizen listed in the paperwork? I've been offered a flat commission of total revenue, though I think it might be a little on the low side. What would you think is a fair flat commission rate? [link] [comments]  |
| Looking to make my small houseplant business “legal” Posted: 28 Sep 2020 05:31 AM PDT I've recently started selling houseplants out of my home, and have made ~$1500 in profit/$3400 in revenue over the last couple of weeks. I don't grow them myself - I buy them from a local greenhouse and sell them at a higher price online, shipping to various parts of the country. I mostly sell online through Facebook groups, and collect payment 90% through PayPal invoicing. My questions:
Thanks for reading this far - any advice would be appreciated! [link] [comments]  |
| Pls help "LLC FINAL NOTICE BEFORE LEVY" I canceled my LLC Posted: 28 Sep 2020 05:44 PM PDT Hello, I received this letter today saying I owe $1,063.76 for tax year 12/18 I made my LLC in march 2019 and paid the $800 that california require I believe 3 months after. I dissolved my LLC in february 2020 by sending them the form required. I made $0 because I never used the LLC, and received this letter today, what can I do or what should I do? of course I'm scared of their tactics.February Thank you [link] [comments]  |
| Starting a Bass Fishing Equipment Rental Service in South Korea. Posted: 28 Sep 2020 09:14 PM PDT Hi everyone! I am a Korean-American from Connecticut and moved to Korea when I was younger. I just finished college for hotel management and currently is located in Korea as I figure out what to do next as this year hasn't been very nice for the hospitality industry. I am hoping to take my passion and experience in the service and apply it to my passion for bass fishing. I'm starting a fishing equipment rental service here in Seoul South Korea. I hope to expand to other hobbies (i.e. Cycling, Billards, Bowling) and create a platform for people to start new hobbies without the initial investment for gear. I'm starting with bass fishing reels and rods as there is currently no one else providing the service. A bit of background on bass fishing in South Korea. Bass is not native to South Korea, they were brought here in from the US in the 70's and quickly became invasive. However, over the years and of recently bass fishing as a hobby and sport has grown in popularity among the younger generation. Fishing in Korea was historically for older folk fishing for carp and ocean fishing. Now for the business. Currently I have put together a small inventory of baitcasters and spinning reels, created a small stock of 1 day fishing essential baits and tackle for sale, and created an instagram and website. I am looking to stay away from using the term rental and focus on offering a service for people to get into bass fishing and for current anglers to experience different types of reels or learn a new skill with the help of premium technologies offered in my products. If someone rents a rod and reel from me I would go to them directly and help them set up the rod, offer a crash course into fishing (how to cast, where to look to fish, what to do if your hook gets stuck on something), and answer any questions they may have. I would also pick up the rod after their rental period. I also have had some interest from families around me to offer lessons for their kids where I would take them out to the local river and teach them to tie knots, what kinds of lures they can use, how to fish, and what kinds of fish are in our local bodies of water. Also as I am bi-lingual in Korean and English, I was also thinking of offering sessions with me where a korean speaker who is looking to practice their english could fish with me where I would use only english and help them work on their english at the same time. I am working on doing social media marketing and working with younger bass fishing store owners who have expressed that they would be willing to help get the word out about my service. I've now kind of hit a wall in really starting the business. How do I price my rental equipment? Should I offer prices by day? or do longer rental periods which would allow me to check up on them during their rental time and offer more customer touch points? How should I handle the issue of damages and breakages? Koreans are very against the idea of down payments and try everything to not pay for damages. I have thought of creating a flat fee policy for damages to give customers some peace of mind about using the equipment. With fishing gear I feel that the rods are the most liable to break so I am sourcing equipment that is a lower cost but also does not feel cheap. As for the reels I don't think people will be as likely to completely damage them and I can preform simple maintenance and cleaning. I also would your input on creating a loyalty system for damages. For instance for every time you return a rod and reel to me in good condition or refer a friend who does the same, the amount you would be liable for would decrease. So that if you are loyal to my service and one day an accident happens and you break a rod or reel if you have a good enough track record I wouldn't charge you or have an extremely minimal liability. Once I have my pricing decided, should I just start? I have a few acquaintances, friends, and instagram messages showing interest. I currently have a job that requires me only to work at night, but with a small inventory I believe that I can handle the rentals until I would have to quit my job. Finally, how should I handle growth, should I continue to scour second hand sellers for great deals on good products and grow my inventory? or look to invest in new gear? Or extend my service offering while slowing down inventory growth? Thank you for sticking through this long post. I just could not find enough resources online besides a few fishing equipment rental services in the states and looking at business models for other equipment rental services (i.e. subscription based models for cars, DIY tool, and luxury clothing. Any input is appreciated and if you're in Korea or plan on coming soon let me know! I'll be more than happy to take out on a trip to my favorite spots. [link] [comments]  |
| Posted: 28 Sep 2020 09:57 AM PDT My small business is growing and I've started making a bit of money from it, I mainly sell in depop and asa new business don't want to get caught out on any surprise charges, I'm just looking for general tips for a new business and any business advice would be appreciated [link] [comments]  |
| Changing from Sole Proprietorship to LLC/S Corp Posted: 28 Sep 2020 10:27 AM PDT Currently I have a sole propietorship and have like over 100k in sales on ebay. I was wondering, if I turn my sole propietorship into an LLC, will my previous sales be taxed as a sole propietorship or can I tax it as an LLC/S corp if I change it now. I have only started this year so I have 0 tax returns so far. I have tons of deductions as my net profit is probably only 20k so far. Any help would be appreciated as I fear for a huge tax bill by the end of this year. As for why I didn't do the LLC before, it is because I did not know of it lol. [link] [comments]  |
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