Adventures with Corndog: Corndog's Fish Store

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Creslin

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Quickbooks was the first accounting software that I used when I started in accounting, really easy to learn and the knowledge base is prolly the best out there since it is so popular with small business. Other than managing your inventory it can prolly handle most other tasks from your banking to payroll to invoicing/billing.

In terms of paying yourself you are prolly looking for a draw account, and ya basically you just use the business accounts to pay for personal expenses and pay income tax at the end of the year. Its the simplest option if you have no employees imo and are a sole proprietor, there are a few downsides but for a cash strapped new business its the way to go imo. That's assuming you are just on the hook for loans and not in a partnership with any investors, if you are in a partnership then you prolly need to pay yourself a salary.
 
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Corndog

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Got a letter from the city on my plumbing permit submitted last Tuesday. They are reviewing the permit and the drawing....
 
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Corndog

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Lol this shit just gets better and better. Today my plumber got an email that said the city I'm in is not responsible for the address I'm at. It's like this little sub section of a water company. So tomorrow I'll find out whats up. I think it can only get better from here. The weak thing is my plumber now has a business license in my city that he can't even use on my permit.... It took them 2 weeks to figure out I'm not in their water district.
 
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Zombie Thorne_sl

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Dealing with the city/state/county is complete hell. I know your pain! When i opened the restaurant, the county we were in was actually great to deal with. I got all my business licenses in one afternoon, and the fire department certification in 1 day with the fire marshal doing a 5 minute walkthrough. It was great! The state on the other hand... 3 months and 10 grand for tax permits and liqour license.... Forced entry with no lube!!!
 
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Corndog

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Talked with the city and water district. Looks like I still need a permit with the city for plumbing.
 
Aychamo BanBan

Aychamo BanBan

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I'm catching up on some "Parks & Recreation", and Ron Swanson had a great quote, made me think of you:

"Do you want to buy some apples?" "Why yes I do." -- "That's as difficult as it should be to start a business in America."
 
McCheese

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aychamo_aycono_sl said:
I'm catching up on some "Parks & Recreation", and Ron Swanson had a great quote, made me think of you:

"Do you want to buy some apples?" "Why yes I do." -- "That's as difficult as it should be to start a business in America."
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Haha, I've been catching up on it as well and I just watched this episode last night. It also made me think of this thread. And I agree with Ron Swanson. In this and everything else he's ever said.
 
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Corndog

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BrutulTM

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If I built an aquarium rack like that I would have to put a third support in the middle of each tank because even though I know intellectually that it's okay, my brain rejects the idea that a horizontal pane of glass held in place by silicone caulk is actually strong enough to hold up 150+ lbs of water.
 
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Corndog

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Lyrical_sl said:
It's looking good. When is the opening?
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Shooting for soft opening on 15th. As I can do some local promotion at some events this Saturday and Next Tuesday. I called the city to ask what's next to get a business license but the person wasn't in today... Pretty sure it's just Police and Fire marshal walk through.
 
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Corndog

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If I want to go out of business I'll carry those. They are quick money, but not long term money.
 
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Merkins4Brazil_sl

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Corndog_sl said:
If I want to go out of business I'll carry those. They are quick money, but not long term money.
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here people spend a good chunk of change feeding those breeds. I used to drop $20 a month buying 'feeder' comets to give em live food and keep em aggressive. they also get big and folks with small tanks often shell out to upgrade. booth breeds live a very long time.
 
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Corndog

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How many feeders were you getting for a dollar? Because they're 7 cents each wholesale. Every single store owner I've talked to loses money on feeders. Between losses and employees having to do water changes on the feeders to keep them alive.
 
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Corndog

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An example, a store in the city I live in, ordered 4000 feeders a week. That's $280 cost. If you sell them 10 for $1 like alot of stores. That means you make $120 dollars if you sell every single one without a single death. Now if you account for the fact that it'll take 30 minutes each day to pull out the dead ones/water change it. That's 3.5 hours at min wage of $9. That's $31.50 in wages Plus actually like 15 more for the employer but we wont count that. On average there is a minimum of 10% loss rate on feeders. Thats $40 loss minimum. So thats 71.50 Plus $280 cost of the fish. 351.50 to make $400 if you sell them all. A difference of 48.50. Now, this doesn't factor in the time to actually bag those fish and help the customers. When you factor that time in which can very obviously you break even if lucky. Feeder fish are a loss leader item for stores.
 
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