Originally Posted by cupcake900
I know there are people that have said they started home businesses and haven't spent any of their own money; so if you guys are out there, please tell us how!
When I first started catering, I never bought equipment until I needed it. I would collect the 60% (+/-) deposit from the client, and used that to buy not only the food, but any add'l plates, forks, chafers, serving dishes, etc. My first big one, I even rented a truck and paid my staff out of that deposit, in addition to buying 200 plates, 200 sets of silverware and food for 200+ people. I didnt' use my money .... I used the client's money.
Each subsequent after that, then I didn't need to buy more plates, forks and chafers, so that money was either in my pocket or paying for add'l equipment and supplies, and expenses.
You don't have to spend a lot of money buying equipment until you actually NEED the equipment.
Even with now having a shop, I still use this philosophy ..... I didnt' spend the $350 on my Mirrored Dessert Stand, until I had a customer who ordered a mirrored dessert stand. Just to give you some "for instance" numbers, I charged this bride $1000 for this event .... $600 deposit paid for the stand, the food/desserts, and payroll for the staffer who worked this one, with money left over. So I had about $500 gross
profit .... which was used to pay the rent, utilities and other business expenses. But the next time I do this dessert stand set up, I'll have an extra $350 in my pocket since I won't have to buy the materials again.
Reinvesting in yourself......