Meaghan Brophy is a retail writer for Fit Small Business. She has provided content and guidance for indie retailers for years as the editor for Independent Retailer magazine, a RetailWire BrainTrust panelist, and speaker at trade shows such as the Independent Retailer Conference and NY NOW. She has been quoted as a retail expert in Forbes, Retail Dive, Retail Minded, ASD Insider, and more. When not talking retail, Meaghan can be found watching dog videos and practicing her tap dancing skills.
If you are looking to sell your business, it is important to engage a lawyer who is a business specialist to ensure you gain the best possible valuation. A small business is valued by assessing the potential ongoing income from the business over the coming few years. Normally this means that a business will be valued at three to five times net revenues, which can present a potential issue for particularly tax-savvy small business owners. Remember that every time you write off an expense against your business, you are lowering the net margin of the business. So, that dollar you saved by writing off the expense could cost you three to five dollars on the valuation of your business.
I like how you thought out the lighting for you shop. I have 6ea.6 tube T-8s but find 6500K bulbs but find lighting for filming is not that good, seems dark to me I use a Canon T3i its a decent camera I do have a row of windows in a 16′ garage door and aman door with a window on one end and a small window at the other end of my shop. Any idea what the issue may be?Could I still be getting too much light?
However, there are some downsides. If you want to customize the interior you’ll have to completely gut the entire thing, which can be a lot of extra work. The weird shape and fiberglass construction of most high tops also make it more difficult to install solar panels, a ceiling, or anything else on the roof. And we’ve also found that some auto repair shops aren’t tall enough to put our van up on a lift - though that’s only really an issue for major work, not routine maintenance.
The final size I decided on was 1800 sq. ft. Yeah, that’s big! I actually balked and second guessed myself after we received the estimate from the contractor. Sure, more space is nice, but at what cost? I then asked for a second estimate, bringing the shop down to 1500 sq feet, which is still huge. As you might expect, the savings just weren’t that substantial. By the time you get over 1000 sq. ft., the price per sq. ft. is really low, making it very difficult to justify down-sizing. So I bit the bullet and stayed with my original choice of 1800 sq. ft.
You are also obliged to file a quarterly tax return which must detail, amongst other things, your employee pay and withholdings. Once again, failure to do this can result in, you guessed it, a fine! As you can see, it’s important to be up to speed on the rules and regulations around taking on employees, including, of course, provisions around hiring foreign workers. The good news is that there are a number of affordable payroll software providers that automate this process very effectively.
Wide aisles also prevent the dreaded butt brush, a term coined by top retail consultant Paco Underhill. His studies show that both women and men avoid tight or crowded aisles where they might brush bottoms with other shoppers. Really, this is a thing! Learn more about Paco’s retail research and insights in his book, Why We Buy: The Science of Shopping.
In our Complete Coffee Shop Startups Kit, we spend a good amount of time discussing your health department requisites, your coffee equipment, and even the design of your coffee shop. Since this makes up a significant bulk of your startup costs (equipment, space requirements, etc.), we recommend that you spend an extra couple of hours strengthening your knowledge base with listening to our audio interviews.
A great supplier will provide the raw ingredients of your success — often literally. What’s more, they’ll deliver them on time, every time. And they’ll always deliver exactly what you ordered, no more, and no less. A large part of the process of inventory control is ensuring that you are paying for exactly the inventory that comes through your door, and not a penny more. Even great suppliers, however, are looking for the highest price possible for their goods, so once you find them, make sure you’re ready to negotiate!
In general, a table saw requires at least eight feet in front and behind to accommodate standard sheet goods and four feet side to side. A work table should provide four feet clearance on all sides, and pathways between tables, benches and storage units should be three feet wide. Proper clearance will allow you to move about with ease while you work.
Living on the road puts you in a wider variety of situations and environments than being stationary. If something goes wrong in the wilderness or if a disaster strikes, you’ll want to know what you should do. The SAS Survival Handbook is one of the best survival books out there. It covers primitive camping, edible plants, encountering wild animals - even disaster situations like nuclear war. It’s packed full of good-to-know actionable information. And it’s a blast to read.
I hope to build my own stand-alone dream shop sometime in 2015 – in the Texas Hill Country. I’ve not yet found the right lot, so much is yet unknown….but am thinking roughly 30′ x 40′ overall, with 10 or 12 foot ceiling. At one end, there will be a 10′ x 30′ space walled off into three spaces: a small finishing room, an office/design space, and a half bath.
Great instructional! I built the bed of my 92′ Toyota pickup ext. cab the same way you did. I did some hard searching and found this camp pad, which literally fits the 40″ wide sleeping space perfectly. A few different mats from Exped will fit, but here’s the one I bought. Just thought you might like to know there’s an inflatable duo sleeping pad out there that works for your setup!