I want to sell my restaurants in-house software to other restaurants, but don't want to come off as rude, any tips? small business |
- I want to sell my restaurants in-house software to other restaurants, but don't want to come off as rude, any tips?
- I Own A BBQ SAUCE Company. Help With Consumer Sales? Social Media Cooking Show?
- Investing/Silent Partner in Small Business: How can you protect yourself?
- Sole Proprietorship Taxes Question
- Managing Advertisers Myself?
- CA Relief Grant - So when are they going to fix the site?
- Small business importers, have you ever used Trade Finance / Letters of Credit to manage your cash flow? What was your experience?
- Thinking of Starting a Space-Focused 3D Printing Company
- Professional writing service (for LinkedIn personal and company profiles) recommendations?
- "Doing business in.." Legalese question for LLC formation
- How much should I give an investor ?
- If you can dream it you can do it!!
- Business partner split and equity repay question
- Any experience using food distributors/brokers?
- Anybody own or purchase for a gardening/plant store?
- Question
- What are the Tips for Success of a Windows App?
- Boxes & Mailers
- What are some of the most critical service and/or software providers you use as a small business?
- How should I approach a recent widow that owns a storage unit business? Her husband died about a month ago.
- How do you deal with people stealing packages during delivery?
- (CA) Sole prop hiring seasonal part time help
- Inventory Management Systems - Which software do you use or would recommend?
- Slightly complicated tax question for 1099 and deductions
| Posted: 01 Jan 2021 08:26 PM PST Hello everyone, My Restaurant Software was developed as in-house software system to allow my Family food truck to grow to a restaurant something we have tried to do for 16 years while working with the limitations that New Mexico forces upon Food Truck owners. My family business used to be a food truck for 16 years and New Mexico, at least my county, has never allowed Food Trucks to have tables or a canopy outside. We would have 1 table outside and if the Code Enforcement came to our establishment, we would remove the table because they would tell us to. This meant that our Food Truck had to grow without being able to provide a dining room experience, and could only provide a Takeout-only experience just like this Pandemic is forcing restaurants to do. Our Food truck could only grow 1 way and that was with a takeout only business model that had a heavy emphasis on online ordering. Instead of using third party services, we decided to make everything in-house so we could make a Software based on our business needs. Our website was selling more than our Food Truck and that allowed us to get a business loan to build our dream restaurant which opened in September 2019. We were even able to expand our building 3 months later because our business sales demanded it. We are now wanting to offer our in-house software system to local restaurants in my city who are struggling, and don't understand the importance of having a proper restaurant software. I just don't know how to go up to other restaurant owners without appearing as an asshole. My restaurant hasn't suffered at all during this pandemic while working as a Take-out only establishment. We have even purchased a second location that we plan to build on in 2022 with the address data that we have with our restaurant software. I want to be able to provide the same service to other restaurants locally, regardless of them being "competition". My business was able to grow from 20ft food truck to a brand new business because of our website having all these data about our customers purchasing patterns, address data, and more. This system was developed because of our need to deal with the bullshit that NM forced us to deal with. We are now seeing restaurants having to deal with this same type of business model and I can tell they are struggling. In my opinion, my restaurant software is way better than any third-party service because it was made by someone who had to grow his business with it, and wasn't made to make some corporation rich(chownow, toast, etc). [link] [comments]  |
| I Own A BBQ SAUCE Company. Help With Consumer Sales? Social Media Cooking Show? Posted: 01 Jan 2021 10:11 AM PST **** UPDATE*** Hello everyone! thank you very much for your wonderful responses and taking the time to respond. To answer questions and DM's that I have gotten about my company please read below: We created miniature bottles that are half ounce ( 0.5 Oz) that are very similar to the "mini Tabasco" bottles that you might see around at restaurants. Our full-size bottles are significantly different than existing glass bottle barbecue sauces at the meat markets our product is available. due to our "dye cut Label" most sauce manufacturers will not use a diecut label because the tooling can cost $500 per label design. we made that investment and it pays off big. When you walk into one of our meat markets that our product is found you will see out of 500+ bottles we are the only ones to have a diecut label and a shelf talker. And a very important note about our specially designed shelf talkers, they're plastered in an acrylic stand which gets coated with adhesive that sticks to the main parcel of the shelf so that it cannot be pulled off or fallen off. In addition to this the physical barbecue sauce bottles product lines the strip of acrylic all the way to the back of the shelf. Our mini bottles are an exact replica of our full size 14 ounce bottles all the way down to the nutrition label and barcode on each mini bottle. So far they've been a big hit because they look pretty freaking cool. We don't give these out for free online because shipping cost about $5.00. Only give out for free in person for obvious reasons. As you already imagine being most of you a business owner, everybody wants to try your product. so we charge for shipping only. These are what we are using for samplings as the only companies on the West Coast to have a "satchet filling" machine to put our product into a ketchup packet are not people that were able to work with. one of them being McDonald's Corporation (aka golden state foods) ;) In terms of logistics we deliver our sauce ourselves all throughout the West Coast once every two months to our meat market clients using a designated delivery route. This allows us to collect payments for some of the meat markets that are old school and don't use debit or credit cards and for our major meat markets that use debit and credit cards they're able to pay their invoice online with card or check. This also allows our driver to make sure the shelf talkers are completely intact and oriented correctly. We also have a negotiated shipping contract with UPS which allows us to ship a 12 pack of our sauce up to 50 pounds anywhere in the United States for only $17.00. We can ship a six pack of our sauce up to 50 pounds anywhere in the United States for only $13.00 In terms of expansion to our wholesale meat markets this is what we've done and how we got started: We created a salesforce account and went to Google and pulled the contact information for every single meat market in each state. Only the 48 connecting states. We created a campaign for each state in salesforce so that we can keep track of how many meat markets are in each state that we have to contact and we can keep track of who is been contacted who's gotten samples and what their responses have been. We are currently working on expanding to the East Coast and for this we will do the same thing we did to create the brand to scale on the West Coast. All of the meat markets that sell our product have a margin of anywhere from 44% to 65%. However, while these numbers fit well with a grocery store, most big chains told us that the product is simply too expensive. They also said it has a good reason to be expensive it is top quality. One buyer agent put it this way, "a Ferrari doesn't belong that I Nissan dealer". Our sauce absolutely shines ta meat market because people going to their local meat market are looking for quality meat accompanied by quality rubs and sauces. Our TAM is absolutely massive when we talk meat market throughout the country so I have no issue about growth. Direct to consumer sales are where we really profit the most. When it's not a pandemic of course and we can participate and set events so at this time we're just trying to adapt to create the new sales channel. We currently do not sell in big name stores because the product is very expensive in comparison to a high fructose corn syrup filled sweet baby rays. Our product is pure quality made with pure Vermont maple syrup shipped straight from the tree farm and non-GMO organic ketchup from a local ketchup company. There for most of our meat markets sell each bottle at $10-$12 apiece. (14 Oz nt wt bottle) ORIGINAL POST I own a respectable BBQ sauce company that sell all over the west coast wholsale. Every state. However, when we talk consumer sales amazon is dead. In store sales are solid. As a sauce, our biggest direct to consumer sales is at fairs & bbq shows/events. That's not happening right now or probably this summer. Our amazon account is sleek & prime. In efforts to create a new sales channel, I was thinking about creating a BBQ Cooking show that would post 1 episodes to TICTOC, FACEBOOK, Instagram per week and then upload clips of the shoot everyday to keep traffic to the channels going etc. Any advice? Thanks all. I've look at getting the sauce with a food subscription company and partnering with meat box subscriptions and it's not possible. [link] [comments]  |
| Investing/Silent Partner in Small Business: How can you protect yourself? Posted: 02 Jan 2021 02:26 AM PST Over the years I have had opportunities to invest in friends' businesses which tended to be restaurants or ice cream parlors -- nothing huge. The few times I did invest I got screwed in various ways but mainly, the businesses never turned a profit and so the investment never yielded anything. I noticed however that even in these cases I, being an outsider, got the short end of the stick on liquidation of assets (insiders managed to sell their shares at better prices etc,) which even happens with publicly-traded companies: the company goes bankrupt but the executives manage to get big bonuses. But what I am wondering about is, say I had invested in an ice cream parlor that became profitable. How do I have any idea if I am getting what was agreed upon and how I am protected from, say, the owner giving himself a way-above market-rate salary or taking bonuses or simply stealing from the till? I am guessing the answer is, you just have to trust your friend but I sure have noticed how little friendship matters when money is involved. Tangentially related is I think Henry Ford when his company was doing extremely well argued that shareholders deserved a 6 percent return (or 8%, i don't recall exactly) on their money because they were doing none of the work which of course did not take into account that they were being rewarded for the risk they had taken. I don't know if the shareholders sued him or what but what a nightmare scenario -- Ford gives himself and other execs huge bonuses that could have instead been dividends. [link] [comments]  |
| Sole Proprietorship Taxes Question Posted: 01 Jan 2021 08:35 PM PST Hi! I just started a sole proprietorship online clothing boutique back in September. I am completely lost on how/when to file my taxes for my business. I have about $10k in business expenses and currently operating a net loss. Do I need to file taxes quarterly or annually? [link] [comments]  |
| Posted: 02 Jan 2021 03:56 AM PST Hi folks I built a website this year in my spare time which helps you to find a town to live in, based on your commute, lifestyle preferences, etc. I'm still working on getting some decent traffic, but in anticipation (just in case), I'm starting to think about advertisements. Essentially how I'd make money from this is by putting property finding companies (and other local businesses) on each town's page. My initial plan was to reach out to local businesses (e.g. property finders) myself, agree something, put their details on the site and then manage the contract myself. I'm new to this though and assuming there's a much better way of doing this? I don't think my site will get really high high volumes of visitors (there's only so many people looking to move town/village at one time) but hoping that a user who ends up on a town page has a reasonable likeness of wanting to move there and so may be interested in support moving - this made my think that something like google ads might not be the best option? Thanks! [link] [comments]  |
| CA Relief Grant - So when are they going to fix the site? Posted: 01 Jan 2021 11:27 PM PST "Due to high demand, file uploads will be temporarily disabled to allow every business the opportunity to submit an application. You will be notified once uploads are enabled to complete your application. This will not have any impact on grant selection." I have been waiting since the first hour when it opened up and a number of problems started to pop up. I'm worried that I won't make it to Jan. 8. Is there any hope for some sort of date extension due to the delay? [link] [comments]  |
| Posted: 02 Jan 2021 02:45 AM PST I'm looking into trade finance (letters of credit) for funding for the stock I'm shipping from China. Has anyone else tried this? What were the pitfalls? When would you use this method over alternative credit methods? [link] [comments]  |
| Thinking of Starting a Space-Focused 3D Printing Company Posted: 02 Jan 2021 02:42 AM PST I work in the space industry and noticed the area I live in doesn't really have a dedicated 3D printing services company that focuses on the space/aerospace industry. A few companies have got their own equipment, but I suspect there is plenty of opportunity to offer design, optimization, and fabrication services to other companies here, as well as to NASA. I'm wondering if there is a way to secure about $600K to get started without having to put up a personal guarantee. I have 16 years experience in human spaceflight, and I'm a veteran of the US military. I don't have experience working with 3D printers, but I am a technical person with lots of experience with understanding requirements. I just want to start with a small shop, and a couple of high quality metal 3D printers, and maybe one employee. I'm certain I can get contracts - things are starting to really happen here (Houston). [link] [comments]  |
| Professional writing service (for LinkedIn personal and company profiles) recommendations? Posted: 01 Jan 2021 08:03 AM PST Does anyone know of a good source for professional LinkedIn profile writers? I'm trying to find someone who can help me update my personal profile, as well as write the marketing copy for my professional one. I'm combing through hundreds of profiles on UpWork and it's so hard to get through the "I write articles for SEO" crap. [link] [comments]  |
| "Doing business in.." Legalese question for LLC formation Posted: 02 Jan 2021 01:37 AM PST Hi all, looking to set up an LCC for myself as a consultant for IP and future tax reasons. I understand you have to register as an LLC in each state you "do business in," but I'm not sure the technicalities of that. I have legal residences in two different states. My work is done completely remote and requires no face-to-face interaction with clients, and in theory, requires no physical address. I have a day job in one of these two states, but have a feeling I will be attached to my residence in the other state (a house I inherited) much longer, and they have preferential tax structure. If I occasionally work from both locations but without any physical assets, can I just pick one (even if my personal tax filing is in the other state)? Seems this would be a more common question with the current trend toward nomadic work, but I can't seem to find an answer. Due to commute length, I can't reasonably claim the house as my primary residence [link] [comments]  |
| How much should I give an investor ? Posted: 01 Jan 2021 07:08 PM PST Hello, please I'd like to know how much is good enough to give an investor. I'm trying to pitch an investor into my business but I have no clue how much to offer a potential investor. My business makes about $300-500 per month in sales, and could double if we increase our manpower thereby increasing sales, if I borrow $5000 what would be a reasonable offer in interest for the investor? [link] [comments]  |
| If you can dream it you can do it!! Posted: 01 Jan 2021 09:47 PM PST Really just wanted to share this accomplishment!! So excited for 2021!! Opened my candle business Sept 2020 and in 4 months I sold over $1300 in product!! What were sales like for you this year and how long have you been opened? [link] [comments]  |
| Business partner split and equity repay question Posted: 01 Jan 2021 05:19 PM PST Hi, I am going into business with 3 other people who have relevant experience in our field. We are looking at opening a toy store. I have a question before we finish drawing up and signing our contracts. We are each putting 25% of the start up cost into the business. My other partners said they should get the equity (the 25% of startup cash) they put in back after the first profit rolls in. I thought we would all keep our 25% share of equity in until some one is ready to leave and cash out. So for example if startup cost is 100,000 and I put in 25,000 for equity into the business I would keep that amount in the business and get paid back by getting 25% of all profit (profit after all other expenses are paid) until I am ready to exit the business and only then would I get my 25,000 back. Not sure if I explained that well but at what point do you get back the money you put in? 25,000 and 25% of profit after we are in the black or just 25% of profit until they leave the business? [link] [comments]  |
| Any experience using food distributors/brokers? Posted: 01 Jan 2021 09:04 AM PST We've got a CPG product (nonperishable, salt) that's perfect for organic grocery stores. Been focused on ecommerce since we launched, but it's becoming clear we need to expand into a retail setting. I've got a list of distributors I'll be reaching out to over the next few weeks - I'm wondering if anyone has any experience dealing with distributors or any info that might be helpful [link] [comments]  |
| Anybody own or purchase for a gardening/plant store? Posted: 01 Jan 2021 08:53 PM PST I design, manufacture and sell items you would sell in a gardening center. I would like to branch out into stores and was wondering how to go about this? Do I use a line sheet, or other type of manual. Also would I call or visit personally? What do you look for when adding new products? Thanks! [link] [comments]  |
| Posted: 01 Jan 2021 04:37 PM PST Whats the most common mistake you made and what mistakes should I look out for in general. [link] [comments]  |
| What are the Tips for Success of a Windows App? Posted: 01 Jan 2021 05:30 AM PST We are a small business, launched a Windows 10 app about a month ago. Still adding features and improving it. Here are some of the features of our app:
I'm glad for your support on tips to make it successful [link] [comments]  |
| Posted: 01 Jan 2021 07:19 PM PST Cheapest & most cost effective — go! Also, if you know any discount codes or sales that will help too. Thank you! [link] [comments]  |
| What are some of the most critical service and/or software providers you use as a small business? Posted: 01 Jan 2021 03:31 PM PST Here are some examples that are critical for us:
[link] [comments]  |
| Posted: 01 Jan 2021 06:52 PM PST I have always been interested in buying these storage units. I had full plans to talk to the couple and propose the purchase. However, the older gentleman passed away due to complications from COVID. The owners have children but have all moved states away. So there's no one really around to help her. I've also heard through connections that she is feeling overwhelmed because she was not involved in running the business at all for 30 years. How should I approach her with the proposal now? I feel like it has become more complicated mostly because I knew her husband better then I know her . Also I'm interested in information on how to price the property. I'm typically involved renting single family homes. This will be a new branch for me. Thanks I'm advance. [link] [comments]  |
| How do you deal with people stealing packages during delivery? Posted: 01 Jan 2021 11:05 AM PST Hi there! I've heard a lot of stories about packages being stolen from people's porches or just simply never arriving even though the package was sent. How do you deal with this situation and how can you be sure that it is real and the customer is not just trying to get a second free item? Obviously I would want to help the customer and send another item but I am scared of losing too much if this scenario happens again and again and again (especially since I plan on having luxury items) What's your advice or experience with this? [link] [comments]  |
| (CA) Sole prop hiring seasonal part time help Posted: 01 Jan 2021 06:06 PM PST So, once in a blue moon I'll get a big fish! Aka: a big order I work by myself in a building on my property. It's a super small workshop. When these big orders land, sometimes I really need some help. I'm talking simple labor: Folding and packing, washing items, etc, etc. Probably 4-8 hours a day for 2 weeks and then it's over. I can't afford to hire a full on employee... Yet. What's the best way to proceed? Should I try to find a friend or family? I'm curious what YOU would do? [link] [comments]  |
| Inventory Management Systems - Which software do you use or would recommend? Posted: 01 Jan 2021 04:46 PM PST I'm looking into IMSs and would like to know which ones you people are using [link] [comments]  |
| Slightly complicated tax question for 1099 and deductions Posted: 01 Jan 2021 04:34 PM PST First my primary source of income is affiliate income. when people use the links in my reviews and review videos I earn a commission (aff links etc.) I got into a new review program this year (name not mentioned but you can probably guess) because of some weirdness irs etc.. the stuff we get for review "counts as income" or "Estimated Tax Value" its a bit strange. legally the stuff is not ours for 6 months (can I depreciate it?) but regardless. SO they I guess technically "pay me" the ETV of the item and I "spend" that ETV to "buy" the items I then review. so I will receive TWO 1099's from this company. 1 for the total ETV of the items I ordered (about $47,000) and ANOTHER 1099 for my affiliate income separate from the first 1099 this one is normally around $9000-$14,000 but this year with covid its down quite a lot. its going to be around $4000-$5000. yeah. ouch. lets hope 2021 see's an improvement. I receive a couple of other 1099's as well for my reviews but not directly related to this company in question. SO in my eyes this stuff is no different than anything else I buy to review for the business. its a business asset. I buy them "for the purpose of reviewing" for my business. I don't need 8 sets of wireless earbuds. I have them to compare and review with each other. 15 solar lights. 3 microwaves etc.. etc.. you get the idea. as soon as legal ownership transfers to me after 6 months I plan to start just giving the stuff away to my viewers before I run out of space to stack it all up :-) hehe I am a legit corporation. got my fein etc.. this is not a hobby. I don't have another primary job and do this on the side. this is my primary income. obviously I don't want to pay 18% tax on $47,000 of stuff especially since I never got paid anything for that stuff directly. its just the way its "counted" I get a solar street light ETV $169 I get a $169 on my 1099. I also understand any advice I get here is loose advice and I would want to confirm with a CPA before betting on it but I want to try to get some idea of where I am going first. Is there any issue with me putting the entire list of stuff I bought with this ETV 1099 income on my schedule C as a deduction? it seems logical to me. buy stuff for review deduct stuff I bought for review. I would of course pay whatever taxes I owe on the actual income i earn from my reviews (my pop had enough trouble with tax critters. I don't screw with taxes! not worth it!!) any problem with that? I keep a detailed CSV with all purchased dates price and description that would match the 1099 I get for those items. so it should be a 100% wash between the two lists. anything I am missing in that? so my taxes might look something like 1099 $47,000 1099 $9000 W2 $3700 (census temp work) then deductions $47,000 review purchases and deductions couple thousand dollars on the regular purchases. so the $47k in deductions would wipe out the $47k 1099 the other deductions would come out of the other 1099 and then I would owe W2 taxes on the W2 income and SE taxes on whatever is left of the other 1099 income. am I thinking about this correctly? suggestions? advice? [link] [comments]  |
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