tloonya
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Post by tloonya on Apr 30, 2013 9:38:08 GMT -5
I am in PA Philadelphia. My husband is 57 y/old. Former plant manager. Business owner at present time. I am 46. Former IT pro. Presently a wife of the business owner. Whenever I am complaining here about business not bringing enough dough...there is always someone who 'suggesting' to quit business and find a real job!
To support our lifestyle (I mean mortgage and bills) we need about $4K. Maybe $3K but it is going to cover bills/mortgage. We need something to live on. So each of us needs to get a job bringing at least $500 week. Gross would be $800/week. $20/hour.
Now...where do you go to get such jobs? I am ok, I will get it. My husband being 57...how many chances do you think he has to find a job?
And even if we found somes - we will then be making almost $50K per year which will make us have to pay DDs full college tuition, right? So...minus $30K? I don't really get that myself, how does it work is beyound my understanding.
So, doesn't it make sense to stop the business when it is not dead (We ARE breaking even after all! And now with the farm....who knows?) and go look for the jobs where we gonna have to take bosses bull for $20/hour?
Wouldn't that be smarter to continue this business until it is all more well known and bringing more money?
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 9:39:28 GMT -5
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Post by Deleted on Apr 30, 2013 9:43:19 GMT -5
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NancysSummerSip
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Post by NancysSummerSip on Apr 30, 2013 9:45:28 GMT -5
I'd make more popcorn, but Rocky and Cawiau seem to have that covered. ![](http://syonidv.hodginsmedia.com/vsmileys/muhaha.png)
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Deleted
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Post by Deleted on Apr 30, 2013 9:46:38 GMT -5
The question is, do you think the business is going to grow significantly so that you are doing more than breaking even?
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tloonya
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Post by tloonya on Apr 30, 2013 9:47:03 GMT -5
cawai, I am afraid you gonna have popcorn poop.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 9:47:41 GMT -5
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Bob Ross
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Post by Bob Ross on Apr 30, 2013 9:48:30 GMT -5
Sometimes I wonder why people would leave well-paid jobs working for the man in order to start a break-even business. But then I realize that business ownership is the only way to riches, so what do I know? ![](http://syonidv.hodginsmedia.com/vsmileys/idunno.gif)
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justme
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Post by justme on Apr 30, 2013 9:52:05 GMT -5
Uhh...if it takes $4k a month to cover all your household bills and you're not behind on anything because you're taking money from the business than your income already is at least $48k. So switching from $48k from your business to $48k from someone else's wouldn't change the amount of aid your daughter gets. Unless you didn't report that $4k/mth it takes to run your household as income last year.
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tloonya
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Post by tloonya on Apr 30, 2013 9:53:26 GMT -5
The question is, do you think the business is going to grow significantly so that you are doing more than breaking even? One can only hope, Archie! But considering how it is doing in this economy when people have no money and we were robbed by employee for a year - I have high hopes. Only if faith came WITH it ![](http://syonidv.hodginsmedia.com/vsmileys/muhaha.png)
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tloonya
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Post by tloonya on Apr 30, 2013 9:55:56 GMT -5
Sometimes I wonder why people would leave well-paid jobs working for the man in order to start a break-even business. But then I realize that business ownership is the only way to riches, so what do I know? ![](http://syonidv.hodginsmedia.com/vsmileys/idunno.gif) Ever heard of lay offs? Where have YOU been?
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 9:56:24 GMT -5
Then you go get a paying job like the one you were bragging about a few months ago, and your husband hires some PT help to run the break-even business until those magical days come when it turns around.
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midjd
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Post by midjd on Apr 30, 2013 9:56:30 GMT -5
How long have you been in business? Four or five years now? The fact that you're still in business is a good sign, but if you're still only barely breaking even, it may be time to figure out an exit plan. In 10 years, do you still want to be only breaking even?
I think you should be able to look for jobs without shutting down the business. If one of you were hired somewhere, could the other manage things or wind the business down alone? Could you sell the business?
How much are you making now? If you're netting enough to cover $4K/month in living expenses, you're probably earning about $50K/year now. Unless you're not reporting that income for some reason, your financial calculation shouldn't change much.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 9:57:02 GMT -5
Sometimes I wonder why people would leave well-paid jobs working for the man in order to start a break-even business. But then I realize that business ownership is the only way to riches, so what do I know? ![](http://syonidv.hodginsmedia.com/vsmileys/idunno.gif) Ever heard of lay offs? Where have YOU been? Which come with unemployment insurance. What do you get if your business fails? Oh, right. Nothing.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Apr 30, 2013 9:59:47 GMT -5
How much are you making now?
She doesn't keep proper accounting records remember? Loony if you properly kept track of your business finances you'd be able to properly analyze whether or not it's worth sinking more effort into the business or if it is time for at least one of you to jump ship.
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tloonya
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Post by tloonya on Apr 30, 2013 10:05:38 GMT -5
I had explained it that I had to start Jan,1st and I got into an accident on 12/24/12. Also my DH was giving me a hard time for leaving him to do 'all that alone'... So mainy it was my 3 times per week therapy that I couldn't had done from far away where workplace was. Anymore questions?
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 10:09:01 GMT -5
You asked how to go get a reasonably good paying job. I was just demonstrating that you seemed to have no problem doing so a few months ago.
And you never asked how to convince your husband to keep the store. I'm sticking to the topic question because veering off the OP seems to enrage you. ![](http://images.proboards.com/new/tongue.png)
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tloonya
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Post by tloonya on Apr 30, 2013 10:10:58 GMT -5
Ever heard of lay offs? Where have YOU been? Which come with unemployment insurance. What do you get if your business fails? Oh, right. Nothing. Ever heard of UC exaustion? When it ends and there is no more... What is wrong with you Rocky ![](http://images.proboards.com/new/huh.gif)
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tloonya
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Post by tloonya on Apr 30, 2013 10:15:03 GMT -5
You asked how to go get a reasonably good paying job. I was just demonstrating that you seemed to have no problem doing so a few months ago.
And you never asked how to convince your husband to keep the store. I'm sticking to the topic question because veering off the OP seems to enrage you. ![](http://images.proboards.com/new/tongue.png)
I am saying that my DH probably will not be able to get a job. If you think otherwise - do tell. But with him in the business and me working - he will have to pay MY salary to people and I will have to take crap for $10/hour! Whats the point asking me you...
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 10:15:21 GMT -5
Right, because up to 99 weeks of unemployment checks is definitely worse than a bankrupt business and the leftover debts from it...
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Bob Ross
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Post by Bob Ross on Apr 30, 2013 10:15:37 GMT -5
Sometimes I wonder why people would leave well-paid jobs working for the man in order to start a break-even business. But then I realize that business ownership is the only way to riches, so what do I know? ![](http://syonidv.hodginsmedia.com/vsmileys/idunno.gif) Ever heard of lay offs? Where have YOU been? Aww...you know I'm just PLAYIN'. ![](http://images.proboards.com/new/smiley.png) Besides, all small businesses make mountains of cash. I'd double check your balance sheets. I'm sure there's a few million that you overlooked somehow.
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Apr 30, 2013 10:16:17 GMT -5
I can't believe how many of these business owners don't even know how to price the items they are selling and end up giving things away
No kidding. My favorites are the ones with giant binder sized menus and they can't figure out why they aren't making money. Really? You can't figure out why you aren't making money when you have 150 menu items but people are only consistently ordering 20 of them?
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 10:18:03 GMT -5
You asked how to go get a reasonably good paying job. I was just demonstrating that you seemed to have no problem doing so a few months ago.
And you never asked how to convince your husband to keep the store. I'm sticking to the topic question because veering off the OP seems to enrage you. ![](http://images.proboards.com/new/tongue.png)
I am saying that my DH probably will not be able to get a job. If you think otherwise - do tell. But with him in the business and me working - he will have to pay MY salary to people and I will have to take crap for $10/hour! Whats the point asking me you... I'll do the math for a moment. You working: $25/hr job Store help: $10/hr job Looney family comes out ahead ~$20-30k annually. Yeah, you're right. No point in doing that at all.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Apr 30, 2013 10:19:50 GMT -5
I can't believe how many of these business owners don't even know how to price the items they are selling and end up giving things away
No kidding. My favorites are the ones with giant binder sized menus and they can't figure out why they aren't making money. Really? You can't figure out why you aren't making money when you have 150 menu items but people are only consistently ordering 20 of them? Cutting the menu down a lot seems to nearly always be one of the first things that Gordon Ramsay does on that Kitchen Nightmares show.
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swamp
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Post by swamp on Apr 30, 2013 10:22:16 GMT -5
Ever heard of lay offs? Where have YOU been? Aww...you know I'm just PLAYIN'. ![](http://images.proboards.com/new/smiley.png) Besides, all small businesses make mountains of cash. I'd double check your balance sheets. I'm sure there's a few million that you overlooked somehow. ((Sends my business balance sheets to Bob to find me my missing millions)).
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tloonya
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Post by tloonya on Apr 30, 2013 10:22:32 GMT -5
Right, because up to 99 weeks of unemployment checks is definitely worse than a bankrupt business and the leftover debts from it... Waaaaaaaait a minute! 9 weeks of the UC check from $75K job is totally different amount than check from $10/hour business. What is it $170?THAT check will be used in place of toilet paper. And why are you keep telling me about leftover debts? What debts? Why bankrupt? Where you pulling this useless info from (if not from where everyone thinks you pulling it from)?
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thyme4change
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Post by thyme4change on Apr 30, 2013 10:25:07 GMT -5
Is this new math?
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Apr 30, 2013 10:26:07 GMT -5
Cutting the menu down a lot seems to nearly always be one of the first things that Gordon Ramsay does on that Kitchen Nightmares show.
Irvine does too. He also makes them sit down and figure out their overhead costs, which the majority of them seem to have no clue what that is or why it's important. They're usually hemoraging money there too.
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swamp
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Post by swamp on Apr 30, 2013 10:28:51 GMT -5
Loony math, sort of like doxie math, but more wrong.
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tloonya
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Post by tloonya on Apr 30, 2013 10:32:08 GMT -5
I am saying that my DH probably will not be able to get a job. If you think otherwise - do tell. But with him in the business and me working - he will have to pay MY salary to people and I will have to take crap for $10/hour! Whats the point asking me you... I'll do the math for a moment. You working: $25/hr job Store help: $10/hr job Looney family comes out ahead ~$20-30k annually. Yeah, you're right. No point in doing that at all. Stubborness is a sign of stupidity! Why are you trying to prove something when you are obviously just...can't! Who said I am finding $25/hour job anytime soon? Who said when in store I am working only a few hours? I work 3 times per day from 3am to 6pm. 15x3=45 And the rest of the week 6 to 6. 12x3=36 So 36+45 is 81 hour. I will have to pay $810 to replace me!!! Are you gonna be arguing that as well, Rocky? Just give up and go find yourself someone else to play with. Geez! People are so...........sometimes!
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