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    Wednesday, December 30, 2020

    What Business Can You Open With $200,000? small business

    What Business Can You Open With $200,000? small business


    What Business Can You Open With $200,000?

    Posted: 29 Dec 2020 05:05 PM PST

    So my girlfriend got an inheritance of $200,000 and we were thinking the best thing to do would to be to open a business. Now she's got some general knowledge of running a business she used to run a gas station for the owner. What I'd like to know is what business options are there for $200k? Should we start our own or go Franchise?

    submitted by /u/cold_moon_55
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    Regus Is Awful

    Posted: 29 Dec 2020 10:40 AM PST

    Has anyone ever used Regus for office space? It has been an absolute nightmare dealing with them. Their invoicing is purposely confusing, the website has minimal functionality, and their business practices are borderline criminal. I absolutely regret ever getting in touch with them in the first place, but in my area there are no other competitors.

    submitted by /u/fushiginagaijin
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    20k to start a Telemarketing Campaign, but which vertical?

    Posted: 30 Dec 2020 03:15 AM PST

    I have 20k between me and a partner. I get that's not a lot but we really want to work for ourselves at this point. I've been in an around call floors for years. DME was the most promising industry to start cheap and crush it but with increasing regulatory issues it wouldn't be the best option. I like solar but it typically takes a lot more to start. Any ideas on verticals that are still highly profitable and don't require a high initial capital investment?

    submitted by /u/Lopsided-Midnight-65
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    Looking for advice on selling a small family business.

    Posted: 29 Dec 2020 08:53 PM PST

    So as the title states, I am trying to sell my families nail salon because they after many, many years of doing nails, are just burned out and done with it and would like to move on. I just have a few questions.

    1. In today's climate, how hard would it be to sell a nail salon for a decent price? I understand financials play a big role but are nail salons saturated? Should we wait a year or two to see if covid is not prevalent?

    2. Is there a market for nail salons? I know it depends on the individual who wants to buy it, but it seems like I see salons everywhere I go. Does whoever buys it have to continue it as a nail salon?

    3. I'm thinking of going through a business broker Is there anything I should keep in mind or ask? Any other method that may be better?

    4. Is there anything else I should be worried about or know of?

    Thank you in advance and sorry for the ignorance. Looking on google only helps so much and I like getting advice and direct feedback from Reddit.

    submitted by /u/thaboy24
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    Any other businesses having massive issues with USPS shipping since mid Dec?

    Posted: 29 Dec 2020 11:25 AM PST

    I am getting multiple emails a day from customers asking where their order is. It seems that since around mid Dec USPS has been about 50% hit 50% miss on orders i've shipped. With many never updating tracking at all and only showing a label was printed. I ship from a los angeles post office and wonder if its just that regional location that was overwhelmed or if its the whole system? Am I the only one experiencing this?

    submitted by /u/Thisisbroken123
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    PPP Forgiveness for an S corp with no employees

    Posted: 29 Dec 2020 03:17 PM PST

    I'm a single owner of an S Corp with no employees. Applied for forgiveness and the SBA keeps asking for 940/941 forms which I never filed since I don't have employees. My PPP was calculated solely based on my 1120-S, Schedule K-1 form. Has anyone already received forgiveness in the same situation?

    submitted by /u/badvik83
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    Information Memorandum when selling a business

    Posted: 29 Dec 2020 09:23 PM PST

    When selling a small business privately, how many of you know what an Information Memorandum is? Have you created one for your business before or have you had brokers in the past write these for you?

    Would love to know your thoughts as what I do for a living is create these specific marketing documents for business selling.

    submitted by /u/rbris-go
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    I'm leaving an office job. What to get people as a thank you?

    Posted: 29 Dec 2020 01:41 PM PST

    I work in a small office with a small team here in the UK. Worked here for 3 years.

    Excluding myself, there are 5 employees plus 2 in management (one being my boss who is the Managing Director and the other being the company owner).

    I'm leaving tomorrow as I have got myself a new job.

    The team is pretty close knit and we do things outside of work together sometimes by choice.

    I could either get everyone cards, get just my boss and the owner a card and present (eg wine or posh chocolates), or I could get everyone a small present. Or final idea is just to get a large box of chocolates for everyone in the office and put it on the shared area for anyone to help themselves to. What do you think I should do?

    submitted by /u/PrettyAd6040
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    can I file an llc if its name uses a trademarked word

    Posted: 29 Dec 2020 05:27 PM PST

    Hey Guys,

    Say I want to file the XYZ Services where XYZ has been trademarked in a ton of different ways for different industries. My website domain however will be different (something that I doubt anyone can trademark). Is that an issue? What if another llc in a different state has a very close llc name? Is that an issue too?

    submitted by /u/hassanzadeh
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    Looking forward a good in-store shipping solution

    Posted: 29 Dec 2020 09:01 PM PST

    We have a brick and mortar located in a touristy area. As a result we often get customers asking if we can ship stuff home for them.

    The problem is we have to take a stab in the dark for shipping. We ask for an extra 10% on the ticket and then after we ship, we send them a photo of the receipt and apply a partial refund for the difference.

    However this is complicated enough that It turns some people off. And on more than one occasion even the 10% wasn't enough to cover the shipping. And it's difficult to go back and ask for more as we often find out "at the counter".

    So I'd like to buy scales and rulers and boxes and setup a small ship station in the back. However i can't find a good piece of tech that ties into the point of sale up front to calculate shipping / generate the label all on the iPad / register

    We use square so it'd be even better if it was all integrated into a single transaction. But if I have to swap to a different app, so be it.

    Ps we have multiple locations so it's often employees dealing with this and I need it to be dead simple.

    submitted by /u/ThroughTheEsses
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    How to Make a Website for free for small business - For Beginners

    Posted: 30 Dec 2020 12:30 AM PST

    Startup Costs in Late December 2020 - Starting Business in 2021?

    Posted: 29 Dec 2020 08:07 PM PST

    I need some equipment to start up my business and that equipment is going to increase in price by 16% starting on January 1st. Is there any way I can but it on December 31 and include it in 2021 taxes?

    submitted by /u/dingleburier
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    Anyone use Amazon Prime business

    Posted: 29 Dec 2020 01:28 PM PST

    Do you use it?

    Is it worth it?

    Just starting my business (about to open the doors), a small counter service restaurant. Setting up supplier accounts etc. right now. Should I buy bulk stuff through supply company or might Amazon Prime business.

    Bought random things for the building using my personal Amazon Prime with my business credit card. So they have been advertising it after every purchase.

    Thanks

    Update: they tried to turn my personal account into a business account (there was an option not to do this) and then charge $179 a year after a 1-year intro price. Other option is $69 a year as a personal prime holder.

    submitted by /u/Heffhop
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    Input for a business name

    Posted: 29 Dec 2020 07:03 PM PST

    Hi everyone!

    I'm rebranding my web development/hosting business.

    Right now, it's called "my name" web development.

    I live in an area that is usually referred to either as "The Pines" or "The Sandhills"

    I'm trying to come up with names that still have the .com domain availible.

    Here are some of my ideas listed from my favorite to least favorite:

    1. Sandy Pines Online

    2. The Pines Online Design

    3. Pines Online Solutions

    4. Sandhills Web Design

    5. Pines Web Development

    We all get caught up thinking our ideas are the best, so any other input would be such a huge help!

    Thank you.

    submitted by /u/everything_in_sync
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    Cheap Simple Accounting Software for a Small Business with 2 employees?

    Posted: 29 Dec 2020 05:34 PM PST

    We are a laundry cleaning business with 2 employees. My parents have been doing their accounting manually for the last ten years, and I want to upgrade it for them, as this past year their computer had a problem and wiped out their files. Just need something that will be simple for them to use and keep track of everything, nothing extremely comprehensive, as they do use an accountant to do their taxes every year, and will continue to do so.

    submitted by /u/spriggen3245
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    Need to buy/write off new equipment this year but the equipment won't be released until next year

    Posted: 29 Dec 2020 05:18 PM PST

    I'm a freelancer, I don't make much, and I desperately need a new ipad pro for work. However, if I buy the current ipad pro available, it will be obsolete by March. I made much more this year than I will next year (landed some amazingly profitable work that I will definitely never see the likes of again), and I'd like to purchase new equipment this year that I can write-off from the extra money, but the ipad pro this year isn't worth buying as it will be very much obsolete by March. Is there any way I can write off the expense that I WILL be spending in march 2021? How can I ensure I'm not paying extra taxes this year only to desperately need those funds next year for equipment upgrades?

    submitted by /u/21cRedDeath
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    Buying inventory from foreign countries? VAT, duty fees?

    Posted: 29 Dec 2020 04:22 PM PST

    Hey guys,

    This might seem like a dumb question, but might as well ask. I started my Etsy business not too long ago, and I found a supplier to buy bulk clothing from. However, they are located in Europe and I'm based in Canada.

    The supplier is charging VAT, on top of the price and the shipping fees. Will I have to pay duty and customs fees as well? Could someone expand on how VAT works?

    Thanks.

    submitted by /u/luvtg
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    Suggestions for software to create an internal knowledge base?

    Posted: 29 Dec 2020 12:30 PM PST

    We're trying to create SOP's, employee handbooks and things of that nature.

    Thanks!

    submitted by /u/genman305
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    What is your business, why did you start it and where in the world are you?

    Posted: 29 Dec 2020 11:24 AM PST

    I'm looking for some motivation and seeing peoples reasoning for starting their business is very interesting.

    I started a web dev business to build websites for small businesses December 2019. It was going well but covid happened and things turned bad pretty quickly. I'm hoping to start something new in 2021.

    submitted by /u/uniqueusername42O
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    First year accounting for business

    Posted: 29 Dec 2020 01:55 PM PST

    Hello,

    So this is my first year running my business. I didn't have too many sales, but I did have a few expenses. It's a single-member LLC, I'll be doing my own taxes this year. I didn't use accounting software, I used and excel spreadsheet, have recorded the costs and receipts of everything (there really wasn't too much). Is this good? Is there any "proper" way to start bookkeeping?

    submitted by /u/ABN7
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    Can I move my NY LLC to Delaware?

    Posted: 29 Dec 2020 01:49 PM PST

    When i used to reside in NY I opened an LC over there and filed for S-corp by filling form 2553. I now reside in CT and want to move to NY LLC to DE. Is that even possible? If yes, whats the process?

    submitted by /u/seanNA00
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    Will I be able to apply for the new PPP loans?

    Posted: 29 Dec 2020 01:08 PM PST

    I own a LLC with my mother, we are travel agents and formed an agency we run from our apartment. I took a part time job in January that I lost due to covid :( I was able to go back to work now only for a few hours and ended up getting sacked at the end of October. I'm still getting unemployment which is what im using to survive. I owe rent, debt, you name it. My mom doesn't work because the agency was pretty much her livelihood. Didn't get approved for PUA either. All travel sales were halted from march to october (Our clients are mostly South American) we didn't sell a single ticket and didn't make profit until November. My question is will I able to apply for PPP? even when I didn't make any money for months from the company? do I report my losses with a schedule C and will that be enough proof? we don't use w-2s or payroll. Truthfully, I'm trying to get help even if it's 2k or 5k anything :/

    submitted by /u/virtuemoir
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