Business Contents Archive

What would you do if you inherited a convenience store?

Basically I am in a situation where I have a convenience store that is all paid for, in the center of a downtown, full of products, and is now mine. I’ve always wanted to be my own boss and start my own business but can’t imagine running a convenience store for the rest of my life. What would you do?

Buying Business with a Partner

Looking for advice on how to structure a business that I’m purchasing with a partner. Medical supplies company doing $500k in cash flow / SDE, which excludes compensation for the owners. We will each buy 50% of the business (financed via SBA loan). One of us will handle the day-to-day management, finances, and operations, while the other will focus on sales / business development. How should we handle our compensation given our responsibilities and investment in the business? What should we be paid via salary vs owner draw? How much free cash flow should be paid to us vs reinvested into the business?

How to deal with ‘I want a refund’

I have been in business for six years and this still bothers me… Todays situation. I shipped out a MacBook for $200 so a customer can run Logic. He gets it, and says it’s not supported. All he needs to do is run an update and he’s like ‘I want a refund’. I offered to help him for free & tried to remotely connect while I am here at IKEA & he gave up just a few steps in and ‘wants a refund’. Sent him links on how to to update…. I want a refund How do I just get over this! I still lose sleep to this to this day.

Venturing Into B2B Marketing - Need Guidance for Design Agency

I've spent the past few years working on consumer e-commerce brands and doing some freelance designing on the side. With the growing competition in ecom and my freelancing work gaining momentum, I've decided to pivot. I'm leveaging the network of designers I've built up launch my own design agency. The structure is fixed payments so clients don't have to spend days getting quotes and can get their designs as fast as possible. My problem is I've never done B2B marketing. It's like a whole new world for me coming from e-commerce, I don't know where to start. I would love some guidance on how to market a design agency. We're currently priced pretty low for the market and plan to gradually increase our rates in the coming months. Also, if you're willing to provide feedback on my landing page, I'd greatly appreciate it. Just leave a comment, and I'll send you the link. Thanks!

Advice about starting a small feed factory

I live in the countryside somewhere in Egypt, me, my friends and some people in town (*a small town closer to a village)* started to think about building a small feed factory to supply our town and the villages near. *By making job opportunities* And *selling the feed at wholesome prices*, we still considering other ways to help the village, I would love to hear opinions on this... but I am asking about something that came to the discussion, if such a factory is built, the feed shops around will be badly affected, and we want to help, not to cause harm to people's businesses, it's a village and the tradition goes against such actions. So, would it be a fair deal if we offer them *(shop owners)* some shares in the factory and turning their shops to be outlets for the factory products? Also, I would love to hear opinions and experiences with this kind of manufacturing. \-**Sorry for my humble English and hoping you tolerate my naivety with the subject and the world.** ​

Can I buy business equipment before LLC is formed ?

I’m starting a slushie machine rental business and wanted to form an LLC for it. I am forming it in Texas and using the veteran exception for the filing fees but it can take up to 3 months for the verification. I would like to start sooner for the summer months. Can I purchase equipment now so I’m ready to go when the LLC comes through? Would I not be able to write it off as an expense then? Could I operate as a sole proprietorship as a sole proprietorship until the LLC paperwork comes in? Thanks in advance.

Woodwork ideas

Hi, I have great desire to do something with wood but I don't know what. If you have ideas what to produce and put it on the market later, that is not big, because I don't have room enough for things like kitchen tables etc. I was looking cutting boards on etsy and they are at abnormally high prices. If you have anything on mind, please share it. Thanks

Start ups

Who needs help creating EIN or looking to establish business credit

What happens if I create an LLC in New York and decide not to fulfill the publication requirement?

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Top 7 Largest Construction Mega Projects in 2023

In this video, we're going to take a look at the seven largest construction mega projects scheduled to be completed in 2023. By learning about these projects, you'll be able to prepare yourself for the future of construction. From massive airports to massive shopping complexes, these seven projects are some of the largest and most complex construction projects in the world. By understanding these projects, you'll be able to anticipate the future of construction and stay ahead of the curve! \#megaprojects #construction #megaconstruction

Software for auto Purchase Orders??

Hi all, Looking for recommendations on software that can auto-send purchase orders to customer email accounts on a reoccurring basis. Even better if we can integrate it with other software services that we use to host customer accounts on. Any services you have positive experiences with that have this function?

Does anyone Use Autobooks for E-Invoicing?

After some research, I found Autobooks, that directly integrates with your bank account. I haven't found many reviews on it and was wondering if it is a good option. Does anyone have any experience with it?

Join the My First Million Podcast Discord to meet other Entrepreneurs and Business Owners!

Hey everyone! I recently created a Discord server for Entrepreneurs, business owners, and fans of the My First Million Podcast. Feel free to join to meet some peers and collaborate!

Buying a FED EX ROUTE

There's a FED EX route for $975,000... I will put $200k down and get a loan for $775,000 from SBA! The route gross $1,190,000 a year and about $890k goes towards overhead and expenses, and the route owner see about $300,000 a year in net. I will probably hire a manager and assistant manager to run the routes... which will be an additional $85,000/yr in overhead. I also will add the business loan payments which will be about $88k a year in payments. Which will leave me with $127k in profit. My goal is to let these earnings go into a CD account for as long as I can. & Then sell the route later. ​ Ideal? Tell me what you know about fed ex routes?

Salary to yourself if you own the company.

Before opening an LLC, I had the status of self-employed and the issue of salary was solved quite simply. Due to the fact that the business has outgrown and I can no longer be self-employed, I had to open an LLC. Now I have a about minimum wage in my LLC and payments once a year in the form of a dividend. Now I see that we earn enough to increase my salary, which I would cover all the necessary expenses. because the minimum wage is barely enough to support a family of four. My question is, how do you regulate these issues?