It's All About The Money!
In my first post on this blog, “How To Open A Business,” I asked you several questions that were designed to help you decide if you really wanted to start a business. After answering them, I hope that you decided that you did want to open your own business.
In my second post, “How To Find Wholesale Sources,” I told you about my website http://www.wholesalemap.com/ and how to find wholesale sources. My website is designed with you in mind. As I stated in that post, I have owned several businesses – some successful and some not so successful. But one of the biggest problems was finding good wholesale sources. I have tried to help you with that problem. All the information on my site is free.
Today, I want to talk to you about the money. It’s all about the money. After you find your wholesale sources and have found your location, will it actually be profitable to start a business.
Let me use one example not related to owning a business, but having a job somewhere. Suppose you worked somewhere 30 miles away for $8.00 per hour. What would be your net income if you had to pay a baby sitter for two children?
Assume 20 mpg in your car at $3.00 per gallon, $25 per day babysitting, eating out one extra time per week and taxes at 20%.
Calculate: 40 hours x $8 per hour = $320.00
$320 – 20% for taxes = $256
$256 - $45 for gas = $211
$211 – $125 for babysitting = $86
$86 - $20 for eating out one extra time = $66
This does not even include new clothes for the position, maintenance on the vehicle and other miscellaneous expenses.
All I want you to do is think about what type of expenses you will have and will it be profitable enough for you to start your business. I don’t know about you, but I would hate to know that I was working 40 hours per week and only netting $66. Just because you have found the perfect location and great wholesale sources, doesn’t mean that you will make money.
Remember to check out http://www.wholesalemap.com/ for all of your wholesale sources.
In my second post, “How To Find Wholesale Sources,” I told you about my website http://www.wholesalemap.com/ and how to find wholesale sources. My website is designed with you in mind. As I stated in that post, I have owned several businesses – some successful and some not so successful. But one of the biggest problems was finding good wholesale sources. I have tried to help you with that problem. All the information on my site is free.
Today, I want to talk to you about the money. It’s all about the money. After you find your wholesale sources and have found your location, will it actually be profitable to start a business.
Let me use one example not related to owning a business, but having a job somewhere. Suppose you worked somewhere 30 miles away for $8.00 per hour. What would be your net income if you had to pay a baby sitter for two children?
Assume 20 mpg in your car at $3.00 per gallon, $25 per day babysitting, eating out one extra time per week and taxes at 20%.
Calculate: 40 hours x $8 per hour = $320.00
$320 – 20% for taxes = $256
$256 - $45 for gas = $211
$211 – $125 for babysitting = $86
$86 - $20 for eating out one extra time = $66
This does not even include new clothes for the position, maintenance on the vehicle and other miscellaneous expenses.
All I want you to do is think about what type of expenses you will have and will it be profitable enough for you to start your business. I don’t know about you, but I would hate to know that I was working 40 hours per week and only netting $66. Just because you have found the perfect location and great wholesale sources, doesn’t mean that you will make money.
Remember to check out http://www.wholesalemap.com/ for all of your wholesale sources.
posted by Paul at
7:10 PM
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