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business expenses - Page 2

post #16 of 49
Quote:
Originally Posted by jasonkraft

Quote:
Originally Posted by CWR41

What's up with the thumbs down? I took the time to answer the OP's question... I am I suppose to apologize because you don't appreciate it?


I'm pretty sure she was reacting to the daunting number of items and not the quality of your post. icon_razz.gif



I'd believe that's true from the "Holy cow" post, but I don't take it that way without any explanation of the thumbs down... but thanks, Jason.
post #17 of 49
Thread Starter 
Wow!!! Thank you all, it helps alot! To start out it would just be myself working and eventually as things progress I would maybe hire additional help. The place I'm renting is downtown store front so has nice big window for displays and is close to all businesses. We also don't have a bakery in town so I am hoping that will help me out too. The rent I thought was exceptionally good $450/month and the place is decent size, it has an area in the back that I would use for the kitchen, would just need to put a wall up and another smaller room in the back that I thought I could use for consultations. The front of the store I would carry displays and the cupcakes/cookies along with complimentary coffee and bottled water for sale. I wanted to set up a few tables in the front for people to sit and enjoy their deserts. Also getting Wi-Fi, so people could use their laptops. We also have something in my town for small business loans that are giving new small business owners a loan for a very low interest rate, which I would need to make the renovations. Just got off the phone with the insurance guy and he said somewhere between 500-700 per year in insurance. That number sound right? Anyway the ball is rolling, I know it will take some time to get up and running, but I can already see the place completely done and I am getting really excited!!!
Thanks again to all who took the time to respond! icon_biggrin.gificon_biggrin.gificon_biggrin.gif
post #18 of 49
Quote:
Originally Posted by jschilt1

complimentary coffee

Sounds nice, but you might want to run the numbers for how much potential profit you're giving away that could be contributing towards paying the bills.

Quote:
Originally Posted by jschilt1

I wanted to set up a few tables in the front for people to sit and enjoy their deserts.

Check with your licensing requirements first... in many cases, if you provide seating/tables for eating desserts you might need to register as a restaurant instead of a bakery which could involve more fees and the additional of public handicap restrooms (if they don't already exist).

Quote:
Originally Posted by jschilt1

Just got off the phone with the insurance guy and he said somewhere between 500-700 per year in insurance. That number sound right?

Sounds high to me... don't know what company you called, but make sure you get a quote from State Farm to compare--I think they have the best rates.
post #19 of 49
Continuing education costs.
post #20 of 49
And now you illegal bakers can see why we get a little touchy when you say, "mind our own business", and "it isn't hurting anyone".
post #21 of 49
I recommend an insurance broker for buying business insurance. Premiums can vary wildly (sometimes by 100%).

Life's too short to make cake pops.
___________________________________
www.sweetperfection.com.au

www.sweetperfectioncakes.blogspot.com.au/
www.facebook.com/sweetperfectioncakes (come visit sometime!)

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Life's too short to make cake pops.
___________________________________
www.sweetperfection.com.au

www.sweetperfectioncakes.blogspot.com.au/
www.facebook.com/sweetperfectioncakes (come visit sometime!)

Reply
post #22 of 49
I agree with CWR41 ~ that quote sounds a little high to me too. I had heard State Farm has a policy geared towards small bakeries.

I appreciate all the comments as well!! It made me think of a few things too!!
post #23 of 49
Quote:
Originally Posted by CWR41

Quote:
Originally Posted by Annabakescakes

Quote:
Originally Posted by CWR41

Good question... the answers would be in your business plan.

Some one-time start-up costs to consider ................................................................................s... the potential list can go on and on!)



icon_eek.gificon_eek.gificon_eek.gificon_eek.gifthumbsdown.gif



What's up with the thumbs down? I took the time to answer the OP's question... I am I suppose to apologize because you don't appreciate it?



Hold up, slow down!!! You are imaginative to read so much into 1 little thumb down. It is not that I don't appreciate it! I do! The thumbs down is not because "you took the time to answer the OP's question" it was because it sucks that all that stuff costs money that I gotta come up with to actually buy all that stuff to have a business. Did you know that one of those weighted tape dispensers costs $30? I just spent $187 on a faucet, I have 2 estimates from plumbers
that are around $4000. The electric estimate was another $2,500. I have to have a door put in my garage door hole. I need a grease trap yet, and it looks like that is going to be about $500 plus shipping. The expense sucks!!! thumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gif

Try not to take things so personally. thumbs_up.gif
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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post #24 of 49
great info everyone!
post #25 of 49
Quote:
Originally Posted by Annabakescakes

Hold up, slow down!!! You are imaginative to read so much into 1 little thumb down. It is not that I don't appreciate it! I do! The thumbs down is not because "you took the time to answer the OP's question" it was because it sucks that all that stuff costs money that I gotta come up with to actually buy all that stuff to have a business. Did you know that one of those weighted tape dispensers costs $30? I just spent $187 on a faucet, I have 2 estimates from plumbers
that are around $4000. The electric estimate was another $2,500. I have to have a door put in my garage door hole. I need a grease trap yet, and it looks like that is going to be about $500 plus shipping. The expense sucks!!! thumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gif

Try not to take things so personally. thumbs_up.gif



Thanks for explaining that your thumbs down was directed to the money you need to come up with rather than to my post. I wouldn't have figured that out... wish it was clear upfront--that's all. Like! thumbs_up.gif

BTW, weighted tape dispensers are available at dollar stores... you just need to glue the metal perforator piece on before it falls off and/or gets lost!
post #26 of 49
Quote:
Originally Posted by CWR41

Quote:
Originally Posted by Annabakescakes

Hold up, slow down!!! You are imaginative to read so much into 1 little thumb down. It is not that I don't appreciate it! I do! The thumbs down is not because "you took the time to answer the OP's question" it was because it sucks that all that stuff costs money that I gotta come up with to actually buy all that stuff to have a business. Did you know that one of those weighted tape dispensers costs $30? I just spent $187 on a faucet, I have 2 estimates from plumbers
that are around $4000. The electric estimate was another $2,500. I have to have a door put in my garage door hole. I need a grease trap yet, and it looks like that is going to be about $500 plus shipping. The expense sucks!!! thumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gifthumbsdown.gif

Try not to take things so personally. thumbs_up.gif



Thanks for explaining that your thumbs down was directed to the money you need to come up with rather than to my post. I wouldn't have figured that out... wish it was clear upfront--that's all. Like! thumbs_up.gif

BTW, weighted tape dispensers are available at dollar stores... you just need to glue the metal perforator piece on before it falls off and/or gets lost!



Ha! I have been doing most of my cost-finding on-line. I never get out of the house, I forgot about the Dollar Store. I need to print off your list and highlight what need and go to Big Lots thumbs_up.gif

Sorry I wasn't clear. Your post was very helpful. Some cash would be helpful too!
Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
Reply
post #27 of 49
)))(((((@@@&&^^%$$$$ OOPS, sorry. My brain just exploded from the overwhelming amount of time and resources you need to run a small business. Hats off to all of you who do this on a regular basis. thumbs_up.gif
Go to theanimalrescuesite.com to give free food....everyday!!!
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Go to theanimalrescuesite.com to give free food....everyday!!!
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post #28 of 49
When you say "insurance", what are you including in that quote?

- commercial vehicle insurance (which is WAY higher than personal auto insurance!)
- Liability insurance
- Property insurance (covers your equipment)
- Loss of income insurance
- Tenants or building owners insurance

My annual insurance for all the coverages I needed was over $3500, so be sure the quote you have is for ALL of the insurance you need, not just a "piddly little" liability policy.

And dont' forget that dang mop bucket! (STILL pi$$es me off! icon_mad.gificon_lol.gif )

I believe Jason already covered part of this, but you mentioned putting your consultation area in the back of the shop. Check with your HD to see if this is possible. I had a friend who had a retail cupcake/popcorn shop , with seating in the front, and his public restroom was thru his kitchen. he actually had to build a half wall down the middle of his kitchen, creating a hallway, for customers to walk thru because the public is NOT PERMITTED to walk thru a commercial kitchen. If they are a nose-picking, butt-scratching type of person and touch one finger to your counters, then its now contaminated. its a sanitation/contamination issue.
post #29 of 49
Quote:
Originally Posted by jasonkraft

That's why I decided to rent an existing commercial kitchen instead of opening my own shop...when renting an existing kitchen 95% of the items CWR41 posted become someone else's problem.



Jason: (I mean this in the nicest way) If you look at it realistically, it's nowhere near 95%. Of the 250+/- items listed, I'm sure you don't carry in 10-13 items with you each day in order to operate.

Everyone would be in business for themselves if they were only responsible for a handful of items and had everything else provided to them as "included" in kitchen rental.

To everyone: It's extremely misleading to believe this is true.
(I can only assume that Jason is making his point of some benefits to leased kitchens by over-estimating the 95% of items not needed.)
post #30 of 49
Quote:
Originally Posted by CWR41

Jason: (I mean this in the nicest way) If you look at it realistically, it's nowhere near 95%. Of the 250+/- items listed, I'm sure you don't carry in 10-13 items with you each day in order to operate.


I'd say 95% is accurate based on the list you provided. I took a quick look again, and these are the only items we need that aren't provided by the rental kitchen:

office exp: cake dummies & business license/corp fees
operating supplies: pans, pastry bags and tips, bowls, storage containers, aprons
product & materials: ingredients, packaging, foil/wrap, cake boards
reoccuring costs: business cards, rent, insurance

The items above are stored in cabinets we rent on-site at the kitchen. Of course we still need to pay for the remaining items on the list (through rent) but we don't have to worry about them ourselves, that's the landlord's job.
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