In 2017 I invested around $12k in a local brick and mortar business. It was a pool of around 20 investors and my share is was worth just around 2.5%. small business |
- In 2017 I invested around $12k in a local brick and mortar business. It was a pool of around 20 investors and my share is was worth just around 2.5%.
- Short term keeping for over 100k
- Is It Possible To Build A Business Around One Or Two Clients?
- Better or equal alternatives for quickbooks for payroll? Please and thank you
- Retailers who expanded into a larger space (10,000sqft+) what were some numbers you ran to encourage the expansion idea and what did you encounter after moving you wish you knew prior, with the building maintenance, with scaling costs etc?
- How to make a sale
- Best bank for a small business?
- Weird interaction with customer
- What do you think? I need advice!
- Business Card Advice please
- Feedback on Ecommerce Website
- What Software Services do you use?
- Best practices/ways to add funds to your company?
- How to fill out credit references form to become a retailer for a company?
- A makeup brand was discontinued and I was given pallets of product! Looking for advice.
- Large expense
- Lip gloss / Beauty Brand
- Directly target your competitors' customers & boost your conversions (Tuwio Launch)
- Stakeholder trapped in a 50-50 S-Corp, partner doesn't want to sell out or buy the others' shares...What are the options?
- EIDL as an entrepreneur & as a small biz owner
- clover pos vs touch bistro
- Fed up with "Amazon Prime Business", What to do?
- Team communications
| Posted: 05 Nov 2021 10:40 AM PDT It started out that we were supposed to get monthly profit payouts, but it quickly turned into the main "investor"/manager continuing to convince us to re-invest profits into the business, new equipment, etc. We also bought a few investors out collectively along the way and my shares are near 3% now I believe. Now, 48 months later we've only received 3 payouts for a total of around $4k of my money back. I've been inquiring about selling my shares for many months and I'm being told that my only option is to just take the rest of my $12k (around $8k) back with no consideration to four years of interest, inflation, buying new equipment, investor shares, etc. with my/our profits. I've been asking about getting a business valuation and proper profit and loss statements for several months, and I keep getting shunned away. Our operating agreement specifically states that a seller should be able to get a business valuation either through a mutual agreement on value or hiring an appraiser, but no one seems interested in getting this done. Even a few other investors looking to sell seem happy to just take their $8k and go at this point. Do you think I should just take what I can get or keep pressing to get a valuation? I have a hunch that the profit and loss statement isn't GREAT. They keep saying it's been a tough 2 years due to the pandemic, but I know the business received PPP loans of $250k-$500k and it definitely should've helped keep it afloat. I have a feeling that the business still has a lot of value and let's say maybe it's worth 1-1.5 million. Which would make my 3% worth more like $30-$45k, not $8k. I understand the business may not have the cashflow to pay everyone out at any moment, but I would at least like to know. I'd be happy to negotiate from there, but it's becoming very frustrating the way this investment has gone over the years. Any thoughts or advice? [link] [comments]  |
| Short term keeping for over 100k Posted: 06 Nov 2021 03:39 AM PDT We expect to need all funds from our EIDL loan in May for another loan payoff and want to make the most of out of it while paying 3% interest. Any suggestions or guide to another source will be appreciated. [link] [comments]  |
| Is It Possible To Build A Business Around One Or Two Clients? Posted: 05 Nov 2021 09:23 PM PDT This weekend I decided to send out an email to all of my clients showing them where they started in their SEO process when we first began and where they are now as far as the ranking and overall website power. For the most part, all of my clients who had been with me for a few months had seen substantial growth and upon sending out the emails I was replied to with some grateful responses and a ton of thank you's; however, two clients, in particular, had stood out to me as they had not only thanked me but also told that more businesses were on the way and it got me thinking could you build a whole business around one or two clients? Like if they were to just hire you to work on each new project they had. I don't see why it wouldn't work but at the same time, I think that would create a level of dependence I might not be comfortable with. What do you guys think? [link] [comments]  |
| Better or equal alternatives for quickbooks for payroll? Please and thank you Posted: 05 Nov 2021 09:57 PM PDT A little tired of quick books and curious if anything is better currently. [link] [comments]  |
| Posted: 05 Nov 2021 02:53 PM PDT I run two smaller warehouses, one for ecommerce and one for "retail". I need to combine them together as they operate closely together and it would save time. There is a 10,000sqft retail space thats already split as warehouse/retail, just about evenly and located in a nice full strip mall, we would be the sixth largest. Right now our small space of 1300sqft sales floor generates $70/sqft revenue a year on average but inventory is backing up, we don't the space to get it on the floor. My biggest concern is a longer lease, 5 years at $8/sqft+$3.40NNN with 4 free months turns into $9k/mo plus some upfront costs for demo/new flooring/fix ups. We pay $2700 now, if we double in size you're still looking at $6k~ to stay in warehousing. It would be a short sighted move. Retail is seemingly more and more important for us and the expansion is mostly for retail. Since we found a "cheap flex space" warehousing can follow retail. Else we'd have to keep the two split and likely end up paying $15+sqft for smaller retail space and $7sqft for larger warehousing...literally arriving near $11.40~/sqft but increasing costs in every aspect by being apart. My thinking could be wrong, but I could estimate my revenue with just the retail half at $70sqftx5,000 and arrive at $350k. Which is enough to pay overhead entirely and makes me feel more comfortable, without even considering ecommerce revenue. I have questions like: Pitfalls you found in larger rental spaces? Pitfalls with NNN? Expected growth vs reality? Any new lease clauses added due to the Pandemic? Tips/Food for thought [link] [comments]  |
| Posted: 06 Nov 2021 02:47 AM PDT Hey, I just made my second professional sale to a distributor of my product, can someone help me out on how to properly do an invoice and how to enforce net30 when it comes down to payment? Moreso I need help on wholesale dating, I'm not sure really what to make of the information I found online. [link] [comments]  |
| Best bank for a small business? Posted: 05 Nov 2021 08:41 PM PDT I need a bank with zero monthly fees and a low minimum deposit. Ideally a bank I can sign up for online? My business is an LLC formed in the United States. I hope someone can help me, I've been struggling to find good answers online, I though I hit the jack pot with Ally, but they don't have business banking. [link] [comments]  |
| Weird interaction with customer Posted: 05 Nov 2021 07:16 PM PDT I run a remodeling company, today I received a text. They said greetings I'm (stated name) I was wondering if you do exterior painting, text me at (gave me a different number) So I texted that number and told them I did. They responded by asking if I was the owner and if I took credit card payment. Then they sent me the address and said please go look at the house and email me the estimate. I had to ask for his email, which is a really strange email and seems fishy. The house is right around the corner from me, is for sale and was recently painted. The whole interaction seemed off to me and something seems fishy. What should I do? They said the house was empty, but I still don't want to show up at someone else's property if they are not the ones who gave me permission. [link] [comments]  |
| What do you think? I need advice! Posted: 05 Nov 2021 11:38 PM PDT Hello! I am a Latino business owner and I need people's opinions About my soon to be line! I'm in the works of creating a anime inspired skincare and aromatherapy line.I'll be making body butters, lip balms, body scrubs, soaps as well as aromatherapy products as well like necklaces, aromatherapy roller balls, and much more. I love anime and I have always wanted to make a anime skincare inspired line! I also suffer from severe anxiety so certain smells do calm me down! Not to worry I will be making unscented skincare as well for anyone who isn't into extreme smells. It will be vegan as well! My question for you! 1.) should I add dyes to my products? I understand any dyes are bad for skin except for natural dyes, but I'm just curious if I should add dyes. 2.) What are some essential oil fragrance blends would you guys like to see in a product? 3.)is tea tree oil good for pimples and acne I keep seeing mixed opinions? 4.) whats a good combo or ingredients that are good for stretch marks? I get mixed opinions on that [link] [comments]  |
| Posted: 05 Nov 2021 07:20 PM PDT I need business cards. I need to design them, and I really have no idea what I'm doing. I have a logo already, and I know what info I want on them, I just have no idea how or where to get started with this. A basic Google searched yielded Adobe as the top result. Has anyone used Adobe to design their cards? Or does anyone recommend different software or a (maybe even free) website? [link] [comments]  |
| Posted: 05 Nov 2021 10:07 PM PDT Hello! I recently launched an online plant shop (dropshipping) but am having a very challenging time getting traffic to my shop, let alone sales. Any traffic that does come doesn't purchase anything. If anyone is willing, I'd love to get some feedback on ways I can improve my conversations! What's wrong with my site? I'd also really appreciate any feedback on how to get traffic. I keep making Facebook ads but none of them produce any results (they spend $0) and I can't figure out why. Thank you so much! [link] [comments]  |
| What Software Services do you use? Posted: 05 Nov 2021 09:43 PM PDT I realize this will vary greatly business to business but out of curiosity, what software services do you use for your business? I use:
[link] [comments]  |
| Best practices/ways to add funds to your company? Posted: 05 Nov 2021 09:34 PM PDT I registered my business during this year, and I am the sole director of the company. I was wondering what is the best way to add funds to my company, so the company can pay for recurring monthly bills or make important business purchases. I am currently using my own personal funds to purchase cloud storage & software subscriptions since my business account only has the minimum balance. And when the client invoices get cleared I end up reimbursing myself. I have some data on approx cost of running my business for next few years. So should I add all the funds all at once in my company bank account? And if my family wants to invest in my company, what type of legal documentation are required for that? [link] [comments]  |
| How to fill out credit references form to become a retailer for a company? Posted: 05 Nov 2021 05:39 PM PDT I'm applying, as an individual, to buy from a company and sell their products online. I have an online-only business that's relatively small. Their application does have an option for 'individual' and their minimum orders are $1000. However, they need credit references. I do not have a credit line with any other company. Here's what that part of the form looks like: https://imgur.com/a/06RKDHu Can I use my credit score as a credit reference? If so, how would I go about filling out the form? There's also a line in the form that reads: 'Monthly Credit Requirements From [company] Expected to Be Approximately'. Can I leave this part blank? Thank you for any insight, I've been selling online for years, but I'm a total newbie at wholesaling. [link] [comments]  |
| A makeup brand was discontinued and I was given pallets of product! Looking for advice. Posted: 05 Nov 2021 08:42 PM PDT I was just presented with this opportunity.........Today - so I don't have all the details yet. Looking for what types of things I need to know/ask before I take this on. My dad does a lot of international business and is currently working with a company that manages multiple million$ brands. One of their brands, a luxury skincare line was in the very beginning stages of launching. Basically, the marketing team they hired completely failed (unknown reasons), too much money was lost and the decision was made to scratch the whole brand before even launching. They had products made but never sold or distributed, or even developed an online presence. Sooooo they have pallets of product with a closing in shelf-life that they need to get rid of but don't want to pay any more money on this project. They basically gave my dad the job to figure out what to do with a semi-truck worth of skincare product. From what I understand the company is very eco-friendly so they do not want it going into the landfill, and doesn't mind if someone is making a profit off of it. So my dad comes to me and says if you want to make some money you can have all of these pallets of unopen skincare..........for free. I said yes as long as he finds out the legal ramifications. So what I'm looking for from you
About the skincare line- Luxury eye creams, lotions, toner, and collagen with MSRP ranging from $80-150. Everything is individually packaged and sealed. The package is nice, like really nice, what $100 eye cream should look like. Cruelty-Free. Eco-friendly. I found an ingredients report and it scored well (no harmful carcinogens). When you google the brand, a website that isn't finished pops up, and a few youtube videos that only have around 10 views; no media news or anything negative. Side note: Makeup in the US does not have to be FDA approved, I know someone will ask this. My background- I went to school for marketing and advertising. I own my own business and work from home. Conveniently the winter months are my slow months, so I am willing to invest some time. If anyone wants some nice eye cream or collagen.... message me 🤣 [link] [comments]  |
| Posted: 05 Nov 2021 04:32 PM PDT Last month I ordered a mini excavator. The dealer said it would be in next May. That was perfect because I bought a skid steer this year and that is already a large expensive ($34k) I got a call that it is in and they want me to come get it with a down payment of $8k. My question is what can I do to make the expense for 2022? Can I lend my company money and pay it back in 2022? I am a sole proprietorship [link] [comments]  |
| Posted: 05 Nov 2021 06:35 PM PDT I am looking to start my own lip gloss brand through private label. Due to money and time , I am looking through alibaba for a manufacturer. I found a manufacturer on Alibaba.How can I make sure that the makeup I am importing from China to the US is fda compliant? What certificates do I ask for? [link] [comments]  |
| Directly target your competitors' customers & boost your conversions (Tuwio Launch) Posted: 05 Nov 2021 06:26 PM PDT Hey everyone, I've worked as a web dev, operated ecommerce side hustle, but recently I've been hired by a forward-thinking company which I've helped with growth dev stuff. Together we worked on coming up with creative ideas on cutting customer acquisition costs by 10x (that was the goal) and tried a bunch of things. Really liked working with them, and through the project we came up with a couple of ways, one of them being very striking: Basically, it's about targeting your competitor's customers directly. We're basically scraping and leveraging a exorbitant amount of publicly available data - the trick is, we're able to match it with a specific company or niche's audience and customers. Then, we go on to vet & verify the lists, making sure they are all real people with engagement to the said brand(s). That means, if we decide to pick 10 companies and create a custom audience list based on their audience and customers, we're able to do that. Works no matter what sector you're targeting, or location, or anything else. Pretty amazing! So, with my co-founder and I, we've decided to turn this into a B2B product for every company to use & boost their ad campaigns - Facebook, Instagram, Google, LinkedIn, even TikTok! So, for the past few months, we've experimented a lot with the algorithm and ran 3 consecutive paid Beta tests (thank you early believers!), in which there were many redditors I met here! Thank all of you. After concluding the Beta with 93 companies/people/agencies in total, we're very confident in the product ready to launch! It's called Tuwio - we bought the 5-letter domain after some work (that story is for another time, but I'll share if anyone's interested). In essence, Tuwio means means lower ad costs, higher targetings and conversions! A few examples: One US startup we worked with achieved 7x the amount of conversions they usually get. Another hardware tech company cut their cost per results by ~80%. Another company that does B2B cloud hosting sales was able to target their competitor's audience and now converting them to their company, they were small but their offer was better, but had tough luck with ad-based conversions until Tuwio. Another one was an Etsy shop owner that decided to go direct-to-consumer and now struggling with ecom sales, and now their cost-per-purchase is almost the same as their old cost-per-click, after Tuwio. Now we're in the process of writing these examples as a case study for everyone to see & be inspired. With good creatives, good product & good experience on top of this, one can build a rocketship, basically. The only key thing is to experiment with Tuwio lists a little, and make sure not only the campaign starts well, but scales well - which our support team is excited to help with! Sorry for the long wall of a post, but we're so excited, and Tuwio is now launched! You can contact me here by sending a PM, or just send us an email at hello@tuwio.com for any questions, requests or to start your journey with us. Best to you all! [link] [comments]  |
| Posted: 05 Nov 2021 05:26 PM PDT Posting for a good friend who is in a pickle and looking for advice, please: TL;DR: Bill and Ted are long time business partners who run a successful business together. During the pandemic, Ted began a semi-sketchy start-up side-hustle, and elements of it have begun to bleed into the business that he and Bill have together. Bill has been observing this with dismay over the past few months, and now feels that he does not want to be associated any longer with Ted. Bill is older, and was already considering retiring. So Bill asked Ted if he'd be interested in buying his 50% of the business. Ted said no, that he didn't want to run the business alone. So then Bill asked Ted if he would sell to Bill HIS 50% of the business, so that Ted would have working capital for the side hustle and time to be able to focus entirely on that new venture. Ted said no. So Bill asked Ted again if he wanted to buy Bill out, stating that he no longer wanted to be part of their partnership, because Ted was bringing in a ton of philosophies and products and services that just were not compatible with him. Ted said no, he is worried about taking on more debt. Then Ted suggested they sell the business outright. There is a market for it, and they could likely sell relatively easily. Bill and Ted decided to think it over during the weekend. Over the weekend, Bill changed his mind about selling to a third party, thinking mostly of his long-time employees who would most likely end up jobless after such a change in ownership. He figured that if Ted wanted to sell the business anyway to a third party, that perhaps he would be interested in selling his shares to Bill after all. Bill likes his work well enough, and only the changes Ted had begun to bring in troubled him. With Ted out of the picture, he could steer things back to how he liked them and keep going a few more years before retiring. So Bill proposed this idea to Ted. But again, Ted flatly refused, and said that he would sell to a third party, but not to Bill. He has also refused to discuss any aspect of his decision with Bill. Bill feels like he is offering Ted the reins to take whatever decision he prefers, and that Ted is refusing to make a choice--which is forcing Bill to stay on and work in a very uncomfortable situation that he doesn't want to be in. Can Ted do this? Has anyone else been in a similar situation? Isn't there some way that Bill can obligate Ted to either sell or buy the 50% of shares? What options does Bill have now? It seems unlikely that either one of them will budge at this point. Thank you in advance for your thoughts and advice! [link] [comments]  |
| EIDL as an entrepreneur & as a small biz owner Posted: 05 Nov 2021 05:18 PM PDT I applied for the EIDL Loan back in April and received my funds on the last week Of August 2021. I applied as an entrepreneur. Since August I used some of the money I received to incorporate my business in my home state of Texas making me and my business legit. Is it possible to apply again but this time as a small business owner or would my app be axed from the get go. ? [link] [comments]  |
| Posted: 05 Nov 2021 05:03 PM PDT Hello, I run a bowling alley and have clover flex and touch bistro at the moment. It is annoying having to go back and forth for receipts and payments. touch bistro works like a charm though. the only reason I would want to switch is for integration. Would it be worth switching to clover POS? Would it work just the same for my business? Any info would be great. Thank you [link] [comments]  |
| Fed up with "Amazon Prime Business", What to do? Posted: 05 Nov 2021 06:15 AM PDT A few years ago, I converted my personal Amazon account from Prime to Prime Business. I have been paying $179 a year for the subscription, which supposedly gives me useful benefits. When my account was converted, the first thing that happened was my personal Amazon card's cash back went from 5% to 3%, okay, fair enough. Over the years, I have noticed in many cases that product prices for me with a business account were actually HIGHER than they were for individuals by viewing the product in Incognito mode. As a small business owner who repairs computers, a "bulk" order for me is 5 items, so the supposed bulk discounts rarely do anything for me. Today was the straw that broke the camel's back, with an item I purchase frequently being offered with a 15% off coupon that I was not eligible for because I am a business. Amazon allows me to be extremely reactive with turnaround times for clients, but since the pandemic hit, due to my location, shipping speeds have really slowed down. I decided to cancel my Prime Business subscription today, and for the first time was presented with a considerably cheaper option, "Duo". I find it shady that they did not offer me this sooner, but at the end of the day, what I think I'll end up doing is converting my account back to a personal account with regular Amazon Prime. My question is, can I still use my tax exemption with a personal account? How are other businesses working around using Amazon for anything? I feel dirty every time I buy parts from them because they are competing with me in every area but service, but sometimes they are the "best" option price AND shipping speed wise to get a job turned around as efficiently as possible. Thoughts? [link] [comments]  |
| Posted: 05 Nov 2021 04:44 PM PDT Hi everyone! [link] [comments]  |
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