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Discussion in 'Business Operations' started by bob21, Feb 7, 2003.
i was just wondering what kind of money you all made in your first year of bussiness.
Your first year in business, I'd count yourself lucky if you break evem. The first year is the hardest, buying new eqipment, setting up an office/shop/getting cards/invoices/truck/trailer/the list goes on. You should start making money in the second year.
I agree with grshppr, it all depends on the cost of your equipment. If you have most of what you need to get started, then you will make some profit. However, if you have to buy all new/used equipment, business supplies then you MAY break even.
There are other elements that you will have to purchase: Insurance, business license, a good CPA to handle your taxes, answering service or cellphone to receive calls from customers.
This is a very profitable business but will take some hard work to get to the point that you have enough business to get out of the red numbers (lost of profit). Stay focused and treat every account with professionalism and great customer service.
It depends. You can make enough to pay your bills. But that may be about all. You could also pay the bills, reinvest some in the biz and still have enough to live out the winter. Just depends on how much you need to make to get by on. Email me, I have something I put together about accounting I can send you. It may really help.
yup, I think my first year I was around $2,500 in the hole
All good coments. Can you make enough to get to the second year, when if your really on top of things, you might make a profit. with regards... devildog