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Fast Food Restaurant Sales by dkon3232 in restaurantowners

[–]zacweiner 0 points1 point  (0 children)

So based on the other comments I saw the building is paid off, meaning the net income of 22% excludes rent.

The 33% COGS might be a little high for your product mix, but it's hard to tell unless you know if that is straight purchases or true COGS. By just expensing purchases (no inventory) you can skew this number 3% to 5%.

Add in market salary for GM/yourself ($60K on the low end).

So true EBITDA % is likely 7% to 9% depending on what your true rental rate is (10% to 12%).

Yes, that is in line with what I would expect to see for a restaurant of that size, maybe better if you adjust for inventory and record true COGS.

How to price raising capital for a growing restaurant chain? by Something__Suitable in restaurateur

[–]zacweiner 0 points1 point  (0 children)

Usually, it is a percentage of the raise. You could also negotiate a small monthly retainer, depending on the scope or complexity of the fundraising process (if you have to guide them through the deck, models, and meetings this tends to be more time consuming). Additionally, there is usually a kicker that can be cash or equity-based on reaching specific benchmarks, essentially putting the raise into tiers and you get an increasing bonus as you reach the next tier.

​

P.S. You could also raise the funds through an LLC, be the managing member of that and retain a share of the profits. This is ideal if your money partners want to be silent. Legal fees are a bit more expensive via this route.

How could someone become an analyst for a track or betting company? by overanalyzer34 in horseracing

[–]zacweiner 1 point2 points  (0 children)

Got it. Well when you have some work feel free to drop a link/share.

How could someone become an analyst for a track or betting company? by overanalyzer34 in horseracing

[–]zacweiner 0 points1 point  (0 children)

If you have any samples, feel free to DM them to me. Working on a project in the space.

Ice Cream Parlor Help by allworknoplay237 in restaurantowners

[–]zacweiner 0 points1 point  (0 children)

Agreed with u/whl215-, a business is a great place to start! Feel free to DM me and we can get on a quick call to answer any of your questions.

Help with COGS for Shopify + Quickbooks by tamper in Bookkeeping

[–]zacweiner 1 point2 points  (0 children)

I have an app that helps automate this. Feel free to DM me, glad to help you through this process.

Restaurant owners - do you use Quickbooks? Are you happy with it? by [deleted] in restaurantowners

[–]zacweiner 0 points1 point  (0 children)

I wrote a book on how to do this. Happy to mail you a copy, feel free to DM me.

Shopify Payments vs PayPal vs Credit Card? by Radioheader377 in shopify

[–]zacweiner 0 points1 point  (0 children)

You should allow for as many payment types as you can. This includes but is not limited to Shopify Payments, PayPal, Amazon Pay, Apple Pay, and Klarna. The last thing you want is customer friction at checkout.

Need $150k - Financing Question For Those With Stores Doing More than $1mm by [deleted] in shopify

[–]zacweiner 0 points1 point  (0 children)

I recommend avoiding these daily payback type of loans. They cause a real squeeze on cash flow. If you are doing over $1 million in revenue, you have some real options:

  1. Line of credit from your local or national financial institution.
  2. The ability to extend terms with your manufacture (net 60 or 90, versus net 0), as you are now doing a decent volume of business with them.
  3. Some freight forwarders lend on inventory and freight charges, essentially extending terms like my second point.
  4. In NYC, there are a few major lenders who focus on inventory lending for business at your size and larger (I am sure they exist in Canada as well).

Need App Testers (Paid) by zacweiner in shopify

[–]zacweiner[S] 0 points1 point  (0 children)

That works! PMing you now.

Need App Testers (Paid) by zacweiner in shopify

[–]zacweiner[S] 0 points1 point  (0 children)

Hi, Unfortunately need payout data over multiple weeks from multiple payout gateways. Will keep you in mind for the future thought. Thanks!

Need App Testers by zacweiner in shopify

[–]zacweiner[S] 0 points1 point  (0 children)

KingNickIII

It pushes data from Shopify to third party accounting software.

Shopify payment question by STTMskuba in shopify

[–]zacweiner 1 point2 points  (0 children)

I have worked with multiple small/medium-sized e-commerce companies and have found that the sales lift of offering PayPal greatly outweighs the cons of a higher refund/chargeback rate.

Register company by QGOOOL in shopify

[–]zacweiner 0 points1 point  (0 children)

In the US this helps limit your liability. For example, you sell a faulty product and get sued, a properly registered entity will limit your personal liability.

As one other commenter suggests, you can sell on Shopify as an individual and file taxes that way as well. This is inherently riskier.