tloonya
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Post by tloonya on Jan 14, 2014 14:48:50 GMT -5
notmsnmoney.proboards.com/thread/37148/scam?page=5This is a link to Dark's thread where Dark is posting his daily sales since opening. I am thinking every day of my life that my sales are good - it is just my spendings are great as well. I do not have 1 day in the year when I will make less then $1200 unless it is blizzard or something. My average cc sales monthly $10-15K Foodstamps are close to cc sales Cash I do not count because I spend it to the penny to buy foods (to sell) every day I am also having about $15K monthly from WIC program and had $500 daily from farm thing for 6 month. Sooooooooooooooo....where is MY $20K in the bank
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 14:51:16 GMT -5
Perhaps it might help if you tracked your numbers as well as Dark is doing. As with many individuals, it's not about how much you make; it's about how you spend what you make.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 14:51:33 GMT -5
You can't just look at revenue. You have to consider overhead. Mine is very low right now. If your sales grew by $1k a day but it cost you $1k a day in additional overhead you haven't actually made a penny.
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Deleted
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Post by Deleted on Jan 14, 2014 14:54:02 GMT -5
Grocery stores have notoriously low margins. In the single digits. 5% range.
Dark's margins are at 40%.
Grocery stores make money by selling lots of stuff at low margins.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 14:54:21 GMT -5
What percentage of those sales is COGS and what's your monthly overhead? Don't include draws or salary, just the number for paying your lease, utilities, security monitoring, etc.
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Wisconsin Beth
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Post by Wisconsin Beth on Jan 14, 2014 14:55:47 GMT -5
COGS = Cost of goods and services right?
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 14:55:56 GMT -5
Plus, for example, Dark isn't buying the most ridiculously expensive toys he can find and then taking them home for his own enjoyment instead of selling them...
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 14:56:09 GMT -5
COGS = Cost of goods and services right? Cost of Goods Sold
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HoneyBBQ
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Post by HoneyBBQ on Jan 14, 2014 14:57:37 GMT -5
notmsnmoney.proboards.com/thread/37148/scam?page=5This is a link to Dark's thread where Dark is posting his daily sales since opening. I am thinking every day of my life that my sales are good - it is just my spendings are great as well. I do not have 1 day in the year when I will make less then $1200 unless it is blizzard or something. My average cc sales monthly $10-15K Foodstamps are close to cc sales Cash I do not count because I spend it to the penny to buy foods (to sell) every day I am also having about $15K monthly from WIC program and had $500 daily from farm thing for 6 month. Sooooooooooooooo....where is MY $20K in the bank Do you understand the difference between and apple and an orange?
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 14:59:24 GMT -5
Oh... you aren't supposed to do that?! I've got two kids that want cool Christmas presents, and a wholesale account with every toy manufacturer on the planet. I'm taking full advantage of that shit. I do pay for them though. Our employee discount is pretty sweet. Boss man lets me buy at cost, plus sales tax of course. The state always gets their piece.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 15:01:26 GMT -5
Oh... you aren't supposed to do that?! I've got two kids that want cool Christmas presents, and a wholesale account with every toy manufacturer on the planet. I'm taking full advantage of that shit. LOL, at least tell us that you're accounting for it somewhere so the biz isn't getting stiffed for the money! Bad employee of Dark Inc!
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Jan 14, 2014 15:02:06 GMT -5
You guys must like banging your heads on the wall for fun. How many threads are there attempting to teach loony how to run a business? I say we send in Robert Irvine or Gordon Ramesy. I'd pay to watch them square off against Tloony.
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tloonya
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Post by tloonya on Jan 14, 2014 15:03:03 GMT -5
Perhaps it might help if you tracked your numbers as well as Dark is doing. As with many individuals, it's not about how much you make; it's about how you spend what you make. I do track my numbers. I gave you average because my numbers are $100+- daily. So it would be boring to read them. Let's say $45 monthly are my sales. $1500 daily. Right? Because of my margin vary from 15% to 100% I can't tell exact 'gain' I am getting on stuff. I do not 'spend per se. Not on me. I spend on business buying and buying...selling... It is getting better, I do not knit checks anymore and I have a few thousand dollars in the bank. However I am far from being comfortable though I am not shivering anymore when writing out check.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 15:03:52 GMT -5
Come on Loony, don't leave me hanging. I typed up all my numbers when you wanted to see them. What's your monthly overhead, and your monthly gross sales total?
They don't need to be broken out by day. Just the total sales for say November and December, and the total overhead for November and December.
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Deleted
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Post by Deleted on Jan 14, 2014 15:04:57 GMT -5
notmsnmoney.proboards.com/thread/37148/scam?page=5This is a link to Dark's thread where Dark is posting his daily sales since opening. I am thinking every day of my life that my sales are good - it is just my spendings are great as well. I do not have 1 day in the year when I will make less then $1200 unless it is blizzard or something. My average cc sales monthly $10-15K Foodstamps are close to cc sales Cash I do not count because I spend it to the penny to buy foods (to sell) every day I am also having about $15K monthly from WIC program and had $500 daily from farm thing for 6 month. Sooooooooooooooo....where is MY $20K in the bank Also, Remember, Dark started with $97k and now has $20k in the bank...
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 15:05:14 GMT -5
Perhaps it might help if you tracked your numbers as well as Dark is doing. As with many individuals, it's not about how much you make; it's about how you spend what you make. I do track my numbers. I gave you average because my numbers are $100+- daily. So it would be boring to read them. Let's say $45 monthly are my sales. $1500 daily. Right? Because of my margin vary from 15% to 100% I can't tell exact 'gain' I am getting on stuff. I do not 'spend per se. Not on me. I spend on business buying and buying...selling... It is getting better, I do not knit checks anymore and I have a few thousand dollars in the bank. However I am far from being comfortable though I am not shivering anymore when writing out check. All your numbers. Not just sales. All the numbers are important in figuring out why you don't have your $20k in the bank.
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Deleted
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Post by Deleted on Jan 14, 2014 15:05:58 GMT -5
Oh... you aren't supposed to do that?! I've got two kids that want cool Christmas presents, and a wholesale account with every toy manufacturer on the planet. I'm taking full advantage of that shit. I do pay for them though. Our employee discount is pretty sweet though. Boss man lets me buy at cost, plus sales tax of course. The state always gets their piece. You need to figure out a way to do what my ex-MIL did. She ran an antique store. If she needed an extra platter or bowl, she'd say, "Run out to the shop and get x and y." We'd use it with the price still on, wash it, and put it back. "After all," she would say, "it was used in the first place." In your case, let your girls try out a few of the cool toys that you want to put out for the public to try and use to generate interest. Then they go to the shop to be played with. After all, once they've been played with in the shop a few times, they will be used so what will it hurt that your girls used them first? Your girls will get "free" fun. Win/win.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 15:06:57 GMT -5
You do $1,500 a day in sales and don't have $20k in the bank after four or five years? Dude. How much are you paying yourself? I'm guessing that's where your $20k is.
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tloonya
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Post by tloonya on Jan 14, 2014 15:07:12 GMT -5
You can't just look at revenue. You have to consider overhead. Mine is very low right now. If your sales grew by $1k a day but it cost you $1k a day in additional overhead you haven't actually made a penny. you are correct. But my sales don't grow. It is pretty steady for a long period of time. Farm money was a nice addition but it had ended. I am adding dollar store now. I am actually doing it. Just to increase sales.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 15:09:10 GMT -5
You can't just look at revenue. You have to consider overhead. Mine is very low right now. If your sales grew by $1k a day but it cost you $1k a day in additional overhead you haven't actually made a penny. you are correct. But my sales don't grow. It is pretty steady for a long period of time. Farm money was a nice addition but it had ended. I am adding dollar store now. I am actually doing it. Just to increase sales.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 15:11:45 GMT -5
We had things that were company use, so that I could demo them in the store. I sold almost all of them before Christmas. Some at regular price. One couple bought the castle I keep in the window to display my little knight and monster figurines. Several people wanted to buy the furniture I keep in my little play area. It was crazy.
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 15:15:37 GMT -5
No margin but you'll make it up in volume. Good strategy. Works for Walmart. You do have a 90,000 square foot store, and pay your employees minimum wage right?
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NomoreDramaQ1015
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Post by NomoreDramaQ1015 on Jan 14, 2014 15:19:49 GMT -5
I am adding dollar store now. I am actually doing it. Just to increase sales
I forget did you purchase the payday loan place and pizza parlor you were also looking at? This is like a real life version of Sim City!
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tloonya
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Post by tloonya on Jan 14, 2014 15:21:35 GMT -5
Come on Loony, don't leave me hanging. I typed up all my numbers when you wanted to see them. What's your monthly overhead, and your monthly gross sales total? They don't need to be broken out by day. Just the total sales for say November and December, and the total overhead for November and December. Wait Dark. I am not smart like 'I took money from Dark's pension fund to return it to the fund and avoid taxation' type of smart. I can tell you that my bills are: $1800 rent $600 energy budget bill $250 insurance for truck and biz right? Then I buy veggies 3 times per week. Its between $2K and $3K but this is not bills. I dunno what category that will fall into. I take around $4K home monthly to pay my bills and mortgage. That is it. Each month I am a few thousand short. My last week I am not having enough money to go and shop freely for vegetables. Though of course I have inventory worth about $10-$15K. its my groceries. If I was about to get out of business now and sell everything I would probably end up with a few grand in my pocket. And I had invested nothing. So let's say for 4 years what I was able to do is to live in my house, eat and gain a few grand. Not what I would like to hear but well...like one member said it is more than millions in the world have...
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tloonya
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Post by tloonya on Jan 14, 2014 15:23:56 GMT -5
No margin but you'll make it up in volume. Good strategy. Works for Walmart. You do have a 90,000 square foot store, and pay your employees minimum wage right? I didn't get it.
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Wisconsin Beth
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Post by Wisconsin Beth on Jan 14, 2014 15:28:43 GMT -5
COGS = Cost of goods and services right? Cost of Goods Sold Thank you.
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 15:29:04 GMT -5
Average of $1500 daily sales x 30 days: $45,000 monthly
Less COGS/inventory purchases (12x per month): $36,000 (assuming high) Less store rent: $1800 Less store insurance: $250 Less store utilities: $600 Less owners salaries: $4000 Less fuel: $480 Any other wages being paid? What costs for the farm?
Profit so far: $1870
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Sum Dum Gai
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Post by Sum Dum Gai on Jan 14, 2014 15:31:27 GMT -5
Right, so your overhead is $2,650 (rent, utilities, insurance). Are there any other monthly bills the business has to pay?
Inventory. To an accountant it's completely neutral. You're trading one asset (cash) for another asset (inventory). Ignore it for now.
I consider that variable overhead. The rent and stuff is fixed overhead. You have to pay that. Don't have a choice. Your salary is variable overhead, you could lower it or not take any if the business was short on cash. For now we'll add it to the overhead to give you a total of $6,650 in overhead every month.
Now, how much do you do in total sales every month?
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tloonya
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Post by tloonya on Jan 14, 2014 15:31:30 GMT -5
I am adding dollar store now. I am actually doing it. Just to increase sales
I forget did you purchase the payday loan place and pizza parlor you were also looking at? This is like a real life version of Sim City! Payday loan place? It wasn't me. Pizza for students? Still in discussion. Whassup with you? Same old? How boring!!!
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Rocky Mtn Saver
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Post by Rocky Mtn Saver on Jan 14, 2014 15:32:58 GMT -5
I love the phrase I recently learned: di-worse-ification.
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