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Husband wants to close - Page 6

post #76 of 78
Quote:
Originally Posted by motherofgrace View Post

its not the amount and more that being on a single income ( he is in training for his job) we cant pay our rent at home either.

 

Thanks for the support.

 

I almost commented on this thread earlier, but I didn't exactly think we were getting the whole story.  So the title of this thread changes from "Husband wants to close" to "Husband doesn't want family to be homeless".  I am very sorry that things didn't work out for you, and I hope that better planning, luck, and times are in your future.

post #77 of 78

To the OP, best of luck to you - I hope you can save your shop.

Quote:
Originally Posted by Annabakescakes View Post

I sort of did that. I bought off craigslist, and auctions, for years, but I stored them in my basement, then later the garage that I eventually turned into a bakery. The first thing I bought was a 3 compartment sink, for $350. I had it for 6 years before it ever had plumbing attached to it.

 

So it can take a long time, too. Storage at $50 a month for 3 years is $1800, so if you can store it for free, that would be better. 

Omg,  that's how I've been doing it, too. I have a 3 compartment sink waiting in my garage (and a few other things). We don't have basements here.

Quote:
Originally Posted by jason_kraft View Post


Generally commercial real estate is priced based on traffic, visibility, and access, as well as the demographics of the local market. I can't speak to your current or future location since I have no information about either, but considering your current property rents for over 8 times what the new property will rent for, you are either paying way too much for your current location or the new location is not as desirable as you think. Or both.
Bplans is a good place to start, it will probably take you at least a month or so to put together a solid business plan.
http://www.bplans.com/

Something about your post -- it just hit me why commercial owners will let their properties stay vacant for years rather than rent for a lower price, they don't want to lower market rates. I know there are other reasons, but ironically, I'd never thought of that one.

post #78 of 78

There's a lot here that doesn't exactly make sense. The OP pointed out herself that she jumped in with-out much business background. I think you owe it to yourself to get help and figure out the realities of what you have before you walk away from it.

 

I think OP needs to go back and relook at her lease. That price can't be right for 250sf. That's premium rent, you've got to be in a unbelievably great location to be paying that much.

 

From all the bits and scraps of info. you've posted I think you seriously need to sit down with a business professional and get all your business data figured out. It would be worth paying a cpa to help you figure out your books.

Definitely worth a trip to your local SBA and get someone to help you understand things.

 

 

You need to know exactly to the penny what you're spending and what you've taken in for everyday, every week, each month! I don't get the feeling that you know those details. Do you know your costs verses your profits per item in your case? Are people walking in your door buying?

 

What if a few changes made the difference between paying you rent or not? I'd make them if I was you. That's a lot easier then re-inventing yourself financially.

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