Business Contents Archive

People who own popular bars/clubs, what is your profit margin??

I recently heard that alcohol at bars have insane profit margin. And as i observed it more and more, I feel like it seems true. I live in a MCOL city. I recently went to a bar in a nice area and popular part of town.. I got a can of beer. I saw online that the manufacturer sells it for $12/ 6 pack so $2 per can. I was charged $7.50. That’s 375% higher than the cost. And I’m sure with cocktails, the margins are even higher. Now I know that there’s operating costs involved such as paying employees an hourly wage, tips (for US bars), liquor licensing, utility and rent cost. But I can’t imagine that all the operating cost involved amounts to over 300% of the cost. So what exactly is your profit margin with operating cost taken out?

US Secretary of State Antony Blinken said the “world should not be fooled” by a potential Chinese-Russian peace plan for Ukraine that would “freeze” in place territory seized by Russian forces https://t.co/iTtHlUuPf2

How to handle overpayments

Several months ago I was hired to provide a service and I submitted my invoice when the job was done. It was supposed to be net 30 however it's taken almost 3 months and many, many phone calls and emails to get them to send me a check. They've had all sorts of excuses, but the check finally arrived today. The only problem is they've overpaid me by a few thousand dollars. I'm worried that if I call to let them know, that it's going to take them forever to cut another check for the appropriate amount. My industry has been really slow this year and I need the money I'm owed so I'm considering cashing the check and letting the overpayment amount sit there until they figure out things on their end. Is this a terrible idea? What's the best way to handle this? Thanks.

EU foreign and defence ministers have agreed to supply 1mn rounds of ammunition to Ukraine within a year https://t.co/UyPQRcmyLi

People perform better when they have a purpose. What are you doing to make sure your team knows theirs? https://t.co/XVZHJrwmNH

Why I never invest in bank shares https://t.co/OMjRi6vZ0N

How to value a business.

Hi, I am looking on best advice on how to value a business. I unfortunately need to sell my small business due to a medical issue with my child but I am not sure the best way to value it. I know some people do profits x 3 years. Is this the best practice? My business grew 260% last year and 160% the year before that. It is debt free and does turn a profit. I will be selling the name, a little inventory, social media pages, websites, trademarks, my IP for exclusive designs, all the accounts and P.O.’s, etc. I don’t own a building (or rent one) and it can be done from anywhere.

Credit Suisse memorabilia up for grabs in online shops after merger https://t.co/77fGE1Ui73 https://t.co/ywpt4mG4XU

The cast of Apple’s hit series “Ted Lasso” went to the White House for an event to raise mental-health awareness https://t.co/7evZHXR1t7

UBS's takeover of Credit Suisse is a wake-up call that 'even banks with apparently healthy capital and liquidity ratios can tumble if confidence evaporates', the FT's editorial board writes https://t.co/u4baRBbdMR

Leadership isn’t a portable skill. Doctors talking to patients must communicate information differently than politicians reacting to a natural disaster. https://t.co/438iA0HhAV

Paying a family member part time

My wife owns a small professional services company with 1 full time employee (no benefits), and a few contractors. Her mother is retiring for the most part but has indicated part-time work for my Wife’s company would be doable - This is great because as a business this small there are a lot of tedious tasks that are in the MIL’s wheelhouse that dont justify a full time employee. My question is whether we should pay her as a 1099 or a part time employee. It looks like an employee wouldnt have to pay taxes on income <$13k, which is probably what she would make the first year or 2. This looks like a better option for the MIL vs a 1099? Or does a part time employee imply we have a set, specific number of hours we need them to work each weekk? My wife doesnt know how long many of the tasks will take each week (but no more than a 5-7 hours), and they’ll vary week to week. On the other hand, 1099s get taxed on any income over $400. Thoughts?

Credit Suisse AT1 bondholders consider possible legal action -law firm https://t.co/6QtHuETaBf https://t.co/6VTc0q4Rxt

cpa payroll questions

I have no idea what I should spend on these services. My business is in SC. LLC taxed as S corp. I am the one person drawing a W2 from the company rn. I have been quoted prices from $240/mo to $5500 for the year. I just wanted to make sure that these sounded like normal numbers?

S&P downgrades First Republic further into junk status as the bank's $30 billion rescue may not be enough to solve liquidity problems https://t.co/ikp6pAT3lE