Finance/Small Business ownership etc.

[Firehaus]

CJ and Heather own Elite, or they did last time I was in there ( over a year ago).

You just need a bigger frag tank! Want to by mine?

If you don't remember, you came to my place to buy some coral from my buddy and picked up a cleaner shrimp from me.

[tmleadr03]

One last thing. When it is busy, you are stressed about getting everything done. When it is slow you are stressed about not having enough money to make rent. Basically it is stress.

[Firehaus]

One last thing. When it is busy, you are stressed about getting everything done. When it is slow you are stressed about not having enough money to make rent. Basically it is stress.

Truer words never spoken!

[fitz19d]

I remember now, didn't know you were on COAR15 ;p. Still have all those corals, didn't die on me like some others. Still regretting spending too much on MBC's live sale. $200 I don't really feel good about. Granted the zoas once go colony will be great. The acans... one of 4 in same place in tank didn't like life. None of which looked as good as pics even in person under their lights. Yay photoshop. Looking forward to once setup maybe buying a few colonies at Great white.


Maybe no big store. But so many out of home coral shops. I'm thinking of starting a bhergia farm, then some frag sales here and there, at least I can pay for the hobby if not make it my career/business.

[Ah Pook]

A lot of truth in the replies.

Your love of the hobby will not help you succeed. Working your ass off will help you succeed. Steady customer traffic will help. Keeping up on payroll (not your own), lease payment, cam fees, utilities, employee taxes, sales taxes, distributor bills, silly town/county/state fees...will help.

I haven't seen a 48 hour work week in 8 years. 60+ is the norm. Your employees are not invested in your business. Most will just want to collect a paycheck.

Do I want to go back to working for someone else? Hell no! But it's no cake walk.

[ChunkyMonkey]

I take my hat off to any independent business owner, more so to those who employ others. As far as not wanting putting too much time into your own business.. think 'passive income' instead.

[MrPrena]

I would probably will NOT own a business/corporation, unless I can sell an $1 product for $10 with all the cost (incl depreciation and taxes) of $5.
There are so many taxes that it isn't funny. Regulations, taxes, insurance, unhappy clients, vendors who are almost always late on their pay, etc. It is pain in the @ss.

When I was working at one of the small company located in Longmont, I learned how hard it is to run a business.
Every damn day has a meeting. EPA, CO haz waste mgmt, vendors, clients proj mgmt, client's accounting, engineers, sales team, corp attorney, you name it.

[ChunkyMonkey]

I would probably will NOT own a business/corporation, unless I can sell an $1 product for $10 with all the cost (incl depreciation and taxes) of $5.
There are so many taxes that it isn't funny. Regulations, taxes, insurance, unhappy clients, vendors who are almost always late on their pay, etc. It is pain in the @ss.

When I was working at one of the small company located in Longmont, I learned how hard it is to run a business.
Every damn day has a meeting. EPA, CO haz waste mgmt, vendors, clients proj mgmt, client's accounting, engineers, sales team, corp attorney, you name it.

ahh..but not all business/corporations sell product. Best kind of business out there is being the middle person or selling service. Brokerage, consultant, and so on.

[MrPrena]

ahh..but not all business/corporations sell product. Best kind of business out there is being the middle person or selling service. Brokerage, consultant, and so on.

LOL , okay, let me rephrase it.
I would probably will NOT own a business/corporation, unless I can sell a service for a $1.00 with all the cost of .50 (incl depreciation and taxes).

[hobowh]

You are confused. Your first sentence has nothing to do with your question. Nothing. There are no "new court laws" that do any such thing. You should not listen to leftie tripe about the Citizens United decision, it was just about the First Amendment.

A business that is an entity with limited liability like a corporation or a limited liability company (LLC) insulates its shareholders/members from liability for the company's debts if and only if the shareholders / members did not separately promise to be liable (like signing a guarantee for a loan to the company or guarantee a lease) and/or so long as the shareholders / members are not separately liable for the debt such as being joint tortfeasors (e.g. get into an accident while driving the company car) and so long as they did not do something else to pierce the corporate shield (talk to your attorney about this when you form a corporation or limited liability company ... or you used Legal Zoom and got no legal advice? Tough titties).

Also 100% responsible for any tax debts even after Plc or corp goes under. (All board members, and the person who signed the return)