As the old saying goes, the only two inevitable things in life are death and taxes. Almost all small businesses in the United States are subject to some form of corporate income or gross receipts tax on a state level — that is, unless you happen to be a lucky inhabitant of the great states of Wyoming, Nevada or South Dakota. Actually, even these states will require you to pay state workers' compensation insurance and unemployment insurance taxes. Oh, and of course every small business in the country is subject to some form of federal taxation.
According to a recent digital marketing survey conducted by Clutch, 74%of small businesses surveyed had a company website. Of the businesses that said they do not have a website, 9% said they planned to build a website in the future, while 10% said that that they are unlikely to build one. One thing is clear, small business owners are starting to join the digital revolution and are reaping the rewards in terms of increased customer loyalty, growing word-of-mouth, and most importantly, increased sales.
“Walk past your Decompression Zone and look to your right. The first wall you see is called a Power Wall, and it’s another key merchandising area. And because it’s one of the first things shoppers see after looking or turning right, it’s a perception builder. Use your Power Wall(s) to display important departments as well as new and seasonal items to create vignettes, tell product stories, and to feature high-demand and high-profit items. (Note: Your store has more than one Power Wall. Stand in various places throughout your store and look around—the walls that stand out are your Power Walls.)”
Ryan, I have the same (almost) 90’s Toyota Pickup and love it! this is so helpful, and I will definitely be using this method. my main concern is that 1/2′ plywood sagging. do you notice it sags quite a bit or does it mostly hold up? my thought was to build the vertical bins a little wider, so that the plywood bed platform wouldn’t be under so much stress. the second issue im running into is wrapping my head around trying to organize and compartmentalize things appropriately. what do you typically put where so it is easy to reach and use?
Since grid layouts are used in most grocery, big box, and convenience stores, they create a familiar feel to customers. However, due to this familiarity, they tend to impart a grab-and-go experience. A grid layout can be a good choice for small retailers who shelf-stock inventory in quantity, like toys, books, magazines, specialty foods, kitchenware, and home goods. However, it’s not ideal for retailers who want to create an upscale, branded environment that invites relaxed browsing.
Due diligence is the process of going through the current owner’s books with a fine-tooth comb to verify inventory information, sales data, average ticket price, and every other aspect of the business. Doing all this yourself is difficult and time-consuming, so you’ll probably want to involve accountants and lawyers to ensure that you cross all the t’s and dot all the i’s. A big red flag to watch out for here is how intertwined the current owner’s personal expenses are with the business accounts — this can obscure the genuine flow of cash in and cash out of the business. The purchase price of an existing business is often calculated as three to five times the net annual revenue, so you’ll want to take that figure into account before you make an offer.
Non-Standard Miter Slots - This one is a downer. One of the primary advantages of having a table saw is access to jigs that expand the saws functionality. This is a major issue if you plan on buying after market jigs. Given that we are limiting the cost of this buildout to $500, I am guessing that after market jigs are probably low on the priority list. Your going to want jigs once you start researching what they enable you to do, my advice is to build your own - there are plenty of plans online.