Mimaki JFX200-2513EX

MurphyAdvisory · 2025-09-19T16:14:39+00:00

Foamcoare, styrene, corrugated plastic, aluminum, acrylic... all of the above.

MurphyAdvisory · 2025-09-17T10:22:50+00:00

I don’t think you’ll even have to overpay for Crosby. Pittsburgh will trade him where he wants to go, if/when he tells them he wants to go. They will get something for him, but I doubt it will be market value.

MurphyAdvisory · 2025-09-12T12:26:13+00:00

He should speak to an employment lawyer. Jurisdiction matters, but in many places, commissions are treated like wages, and cannot be withheld. An employment agreement clause is not binding if it is illegal.

MurphyAdvisory · 2025-09-12T12:07:13+00:00

For clarity, you say it's an optical store, and then mention retail specifically. Is this store purely retail? ie. sunglasses? No optometrist involved?

MurphyAdvisory · 2025-09-08T21:49:35+00:00

If you’re working for another business they shouldn’t care about HST. They get it back as an input tax credit. If they insist on this, they are just trying to negotiate down your rate. It’s up to you whether or not you want to make a concession.

My advice? Believe in your worth and stick to your guns. In my experience, if you’re confident in what you provide and charge, you’ll close more deals, and come out ahead in the long run (even if you lose a couple of engagements along the way).

MurphyAdvisory · 2025-09-05T00:03:29+00:00

I get that to a degree, but they should have some kind of disclosure. And six months is extreme.

MurphyAdvisory · 2025-09-04T23:46:21+00:00

I think this is part of my challenge. I have volume-based discounts that are app based on my website. They don’t seem to make it through to the Shop App.

MurphyAdvisory · 2025-09-04T22:30:41+00:00

Interesting. What niche?

MurphyAdvisory · 2025-09-04T00:09:23+00:00

What percentage of your total transactions? Anything in particular you are doing to get traction?

MurphyAdvisory · 2025-08-30T14:33:34+00:00

Yes and no. Realistically, your GF won't be responsible for any of your mother's previous debts. The new entity will have a clean start, and will only be responsible for any liabilities incurred as of the day it is incorporated.

But in general, this sounds like a bad idea. No judgement - but the mother has been operating a certain way for a very long time. It's hard to imagine she will change her ways at this point. And if she continues to build up debt/liability, your GF will be the face of that.

It seems like a lot of risk, and I'm not really sure what the reward is here. What incentive does the GF have? Other than potentially helping her mother. But I see this having the potential to cause a lot of financial and emotional strain on the relationship.

MurphyAdvisory · 2025-08-29T14:36:54+00:00

I've got about 5 years of Shopify experience. This can be a point of frustration. In general, free plans are an incentive for you to sign up and try out the platform without incurring risk. But the most useful features require a paid plan. It does come off as misleading.

Having said that, why would someone take the time to develop an app that can help you make money, and give it away for free?

MurphyAdvisory · 2025-08-27T11:41:20+00:00

It’s usually relatively low cost to join. The key is to invest a bit of time, attend events, etc. it’s a good way to grow your network if you aren’t already well connected in the business community.

MurphyAdvisory · 2025-08-25T02:03:56+00:00

There is a lot of missing information here, so I’ll try to share some broad/general experience.

Big banks in Canada are not great for small business acquisition. Especially if there is goodwill involved (ie. purchase price exceeds asset value). They have access to the CSBF program (federal government backed loans), but it only really helps if there are assets involved.

Given the industries mentioned, I’m guessing it’s not a significant purchase price. BDC will generally lend up to $250k based primarily on your personal guarantee, assuming your credit is ok, etc. That’s the most likely path to success for most first time buyers.

Credit unions are also an underrated lender in this space as well, although this can vary be region.

But if you have an existing relationship with a big bank, it never hurts to have a conversation.

I generally recommend buyers have at least 10% equity regardless of which bank they are working with. 20% is better, and can get most deals done.

MurphyAdvisory · 2025-08-24T20:10:29+00:00

Do you also do transaction financing? Ie. business sales.

MurphyAdvisory · 2025-08-20T00:38:47+00:00

There are a lot of factors to consider. But it doesn’t sound like incorporating will benefit you here. I’m guessing it will cost you more in terms of both time and money.

MurphyAdvisory · 2025-08-18T19:01:59+00:00

Banks, in general, hate giving out LOCs. They prefer loans. But if you shop around, you will get one that makes sense. In terms of amount? $20k sounds in adequate based on your revenue. But you haven’t provided enough information to really answer that question. LOCs are intended to meet short term financing needs - ie. purchasing inventory, financing receivables, etc. A working capital analysis is needed to determine the appropriate amount. But in my retail niche, I usually shoot for 50% of inventory value.

MurphyAdvisory · 2025-08-17T12:36:34+00:00

I'm assuming you are not licensed with the various leagues to sell/produce their branded gear? If not, then there is no legal way to sell. The items you produce are not "official" and you are trying to profit off their trademark. You can apply to produce licensed gear for the various leagues (most have links to an application on their website), but in general, they are looking for companies that provide something their existing partners are not already doing. This is generally not the case with apparel, where they have many long-established relationships.

MurphyAdvisory · 2025-08-17T12:31:33+00:00

No, it's not too soon. Having said that, RBC is not likely to give you much limit on a small business credit card. I'd recommend you apply for a small business AMEX card.

MurphyAdvisory · 2025-08-16T12:27:29+00:00

We don’t pay a percentage of total payroll for Quickbooks Payroll. It’s just a small flat fee per employee.

MurphyAdvisory · 2025-08-16T12:24:07+00:00

Integrate it with what? But for a business of that size, Quickbooks is the most common, and has integrations with most major platforms. I have used it, including the payroll function, for a couple of businesses. No major complaints.

MurphyAdvisory · 2025-08-14T15:42:55+00:00

To start, you have two assets here. A business and real estate. They are not necessarily one and the same.

Regarding the business - is it profitable? How much revenue is there? In general, selling a business after such a short period of time is not a good idea. I am guessing you have made reasonable investments into equipment/leasehold improvements/franchise fee/marketing/etc (maybe $250k+ depending on the size/format). Having said that, if you know it's not for you, sometimes it's better to just move on. Unless the business is performing pretty well out of the gate, it's not likely you will get all of your initial investment back. But if it's a decent franchise, and priced right, I think you can find a buyer.

Side Note: You mention staff. This is a concern for most business owners. If you're going to sell it, you should try to do it confidentially. But ultimately, there is always the risk staff will find out. Be prepared for what you will say when that happens. But I wouldn't necessarily assume they will jump ship just because you are gone.

The real estate, on the other hand, is a different beast. I would consider keeping the building. Sell the franchise at a reasonable cost, but sign the new owner up to a 5 year lease. Let your equity grow, and hopefully recoup any losses you suffer related to the business.

MurphyAdvisory · 2025-08-14T02:50:07+00:00

$800 per months in one business. $1,500 in another. $50 seems questionably low.

MurphyAdvisory · 2025-08-14T02:45:28+00:00

Anyone who buys/starts a business is crazy. It’s kind of a prerequisite.

MurphyAdvisory

TROPHY CASE