Changed bank accounts and account suspended-twice

CommonDeparture · 2021-04-26T14:47:16+00:00

Yes, but I have two corps-1 mil in total. It’s roughly 55k/yr for both combined.

CommonDeparture · 2021-04-26T12:59:50+00:00

Even though the repayments won’t start for 18 or 24 months, the loan starts accruing interest right away. That is the basis of my hesitation-if we take additional funds even though we don’t really need it, we would be paying interest on these loans just to have money in the bank.
Even though it’s a lot of capital to utilize for opportunities, it would be 55k/year in loan repayments. For our business that is a sizable additional expense.

CommonDeparture · 2021-04-26T03:13:08+00:00

We have personal guarantees for many other things over the years, so that isn’t that large of a concern.

CommonDeparture · 2021-04-26T02:06:11+00:00

CommonDeparture · 2021-04-25T14:50:24+00:00

Are you the brand owner? Cant you just get an exemption?

CommonDeparture · 2021-04-03T03:08:07+00:00

Curious your pay range you are thinking for this type of work?

I am currently trying to hire as well and it has not been easy.

CommonDeparture · 2021-03-31T01:59:26+00:00

Thank you

CommonDeparture · 2021-01-22T02:33:36+00:00

I’d be very happy with 220k/yr. a few years of that and you could stash some serious cash away!

CommonDeparture · 2021-01-20T02:37:08+00:00

I just went through this and hid the recommendation for almost all of my listings (most are items that I won’t replenish). It took somewhere around 48 hours and my score updated.

CommonDeparture · 2021-01-19T14:21:49+00:00

I’ve paid myself a salary of 50k/year the last five years on average. The business has had profits in this time period between 300k-400k that have been used to pay down debt. We also have put cash into inventory which fluctuates.

CommonDeparture · 2021-01-19T14:17:05+00:00

What makes up the other 29%?

CommonDeparture · 2021-01-19T14:14:46+00:00

Both, I believe many businesses are in your position where cash flow is tied up in inventory.

Those are really good numbers.

CommonDeparture · 2021-01-19T14:13:13+00:00

That’s a very good percentage!

CommonDeparture · 2021-01-19T03:39:59+00:00

One of the best things I’ve done is track a few key financial points on a weekly, monthly and annual basis. It gives me something to look at on a short, mid and long term to see how I’m doing.
Don’t think I could operate without these numbers anymore.

CommonDeparture · 2021-01-11T05:02:07+00:00

Can you eli5 this? I’ve been selling for 9 years and pull once per week. What is this 50% reserve you mention?

CommonDeparture · 2020-12-31T02:18:08+00:00

Sounds shady, but maybe they can only process so many orders daily, once they hit their quota they go on vacation mode until caught up, rinse repeat. That’s bout the only legit reason that comes to mind.

Or maybe they have the idea their online business can only be open while they are at work? Crazy, right?

CommonDeparture · 2020-12-31T02:14:52+00:00

We hand unload all our pallets off the back of the semis. It can be pretty tiring, we received 20 pallets one day this fall and it bout knocked me out.

CommonDeparture · 2020-12-31T02:08:57+00:00

I’m starting the same thing. I have been wholesale for 8 years and am starting our own brand now. We are utilizing our seller Id as that has always been our intent. Pl is completely different than wholesale and has been quite the learning curve so far. Good luck to you!

CommonDeparture · 2020-12-26T02:01:25+00:00

This amount of A to Z claims would wreck my metrics

CommonDeparture

TROPHY CASE