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Doobie's Dough House
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Nov 17, 2022 18:46
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Rationale posted:Money lawyer was selling living life as a corporation where your business owns your house your car your mangas et cetera and you pay income tax on the 50k you pay yourself but I don’t think I need to worry about that kind of tax sheltering anytime soon. Weren’t you supposed to be clearing 200k in the first year?
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Nov 17, 2022 20:28
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$$Dough$$ Nut$ LLC.
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Nov 17, 2022 20:42
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Bofa Doughnuts
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Nov 17, 2022 20:51
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Scientastic posted:Bofa Doughnuts Lmao gottem Bofa Dough's Nuts
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Nov 17, 2022 21:36
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Rationale posted:Yeah, llc for the building llc for the business and maybe eventually llc for our personal assets. Nice. Getting the entity bit squared away should satisfy the criticism that this is just a hobby. I thought a trust (instead of an LLC) was the entity for holding personal assets, but I'm sure it depends on location and a zillion other things. Though "selling" seems the right description, the money lawyer gets paid by the hour. I'm pretty sure the 50k bit is talking about electing to tax the business as an S corp (still a pass through entity). You still pay income tax on everything, you just save on payroll tax. But ya, you gotta make money for that to come in to play.
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Nov 17, 2022 23:27
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Should I get a business plan on fiverr
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Nov 18, 2022 02:38
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in'
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Scientastic posted:Bofa Doughnuts There’s a good donut place in Las Cruces NM called Bosa donuts, thank you for reminding me of them. Random names Big Ds Donut Hole [City Name] Donuts Blackbird Donuts Donut Party Donuts USA Donut Palace Donut Shanty Super Jacks Donut Shack
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Nov 18, 2022 02:55
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Rationale posted:Should I get a business plan on fiverr I think having someone do your homework for you means you don't get the benefit. Unless they tutor you, then maybe it's good
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Nov 18, 2022 03:10
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CarForumPoster posted:Blackbird Donuts if you are anywhere near  there is already one that will probably sue the poo poo out of you
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Nov 18, 2022 03:11
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KYOON GRIFFEY JR posted:if you are anywhere near Trademark search is OPs problem not mine
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Nov 18, 2022 03:53
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Rationale posted:Should I get a business plan on fiverr get 3 and choose the best one
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Nov 18, 2022 05:02
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Seriously though don't pay some jackass to write one for you. The sbdc will help you do it for free. Your government wants you to succeed https://clients.ohiosbdc.ohio.gov/Mapresults.aspx?showall=y&groupby=area&hideeventonly=y quote:Small Business Development Centers (SBDC)
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Nov 18, 2022 06:20
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Rationale posted:Should I get a business plan on fiverr No, you should write the business plan yourself. The purpose of the business plan is not just to document your plans, it’s also to help you to consider things you haven’t thought of. It is a useful exercise for you to do, not just a cargo cult thing you need to convince people you’re serious.
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Nov 18, 2022 08:22
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KYOON GRIFFEY JR posted:if you are anywhere near what city is that supposed to be
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Nov 18, 2022 10:10
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Scientastic posted:No, you should write the business plan yourself. He should do both
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Nov 18, 2022 12:43
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I got the tude now posted:He should do both Lol no, no one needs a fiverr business plan
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Nov 18, 2022 13:06
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CarForumPoster posted:Lol no, no one needs a fiverr business plan I think rationale is trying to be entertaining and I’m here for it
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Nov 18, 2022 13:38
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I got the tude now posted:I think rationale is trying to be entertaining and I’m here for it Well yeah, this is a troll thread.
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Nov 18, 2022 13:40
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Duckman2008 posted:Well yeah, this is a troll thread. Would a troll respond to valid criticism by showing his wrestling belts? I doubt it.
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Nov 18, 2022 13:42
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Look I've been assured that using Fivrr still counts as doing it yourself
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Nov 18, 2022 13:42
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lobsterminator posted:Would a troll respond to valid criticism by showing his wrestling belts? I doubt it.
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Nov 18, 2022 13:46
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I think you should get a fivver business plan
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Nov 18, 2022 13:49
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lobsterminator posted:Would a troll respond to valid criticism by showing his wrestling belts? I doubt it. 
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Nov 18, 2022 13:50
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KYOON GRIFFEY JR posted:I think you should get a fivver business plan All joking aside itd be more of a plan than exists now 
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Nov 18, 2022 16:24
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KYOON GRIFFEY JR posted:I think you should get a fivver business plan If this is what he needs to get a plan written then sure. Unfortunately it's unlikely that a fivre person would be willing to confront OP and say "The numbers just don't add up. You can check my work. Are you really going to put more of your money into this?"
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Nov 18, 2022 16:48
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Rationale posted:Should I get a business plan on fiverr Business plans are for spreadsheet nerds, just do it without one. YOLO, my guy
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Nov 18, 2022 17:56
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I love this thread because I have a friend who ran a wildly successful donut shop and he closed it after two years because running a donut shop sucked so much he just couldn't stand it anymore. Making piles of money wasn't enough.
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Nov 18, 2022 18:03
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Rationale posted:Should I get a business plan on fiverr Isn't the business plan to clear 200 thou on the first year of which a sixth has already passed?
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Nov 18, 2022 18:26
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Grand Fromage posted:I love this thread because I have a friend who ran a wildly successful donut shop and he closed it after two years because running a donut shop sucked so much he just couldn't stand it anymore. Making piles of money wasn't enough. Why did it suck?
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Nov 18, 2022 18:32
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cursedshitbox posted:Isn't the business plan to clear 200 thou on the first year of which a sixth has already passed? We’ll spend that don’t worry Grand Fromage posted:I love this thread because I have a friend who ran a wildly successful donut shop and he closed it after two years because running a donut shop sucked so much he just couldn't stand it anymore. Making piles of money wasn't enough. What did he end up doing with his piles of money? I’m gonna buy dunkins
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Nov 18, 2022 18:39
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TV Zombie posted:Why did it suck? It's a lot of work and there's no time to have a life. His place wasn't open in the mornings so his sleep schedule wasn't the usual baker's one, but his general schedule (from distant memory) was: 8-9 AM: Get into the shop. Start all the donut frying and assorted prep for the day. 12 PM: Open the shop 8/9 PM or whenever he felt like it: Close the shop. On Fridays and Saturdays he would usually stay open until like 3 AM to get drunk business. After closing he had to do the prep for the next day like getting donuts proofing and cleaning and stuff. If he was lucky, business would be slow the last couple hours the shop was open and he could have most of this done by closing time. If it was busy, he'd have to do it after closing. So depending on the day he would get home somewhere between 10 PM and midnight. Repeat, every day, for two years. It was literally the only place in a city of ~10 million to get freshly made, American-style donuts so being successful wasn't that hard, he had the market cornered. Rationale posted:What did he end up doing with his piles of money? I’m gonna buy dunkins Took a few months off to decompress and now it's emergency savings. Grand Fromage fucked around with this message at 19:00 on Nov 18, 2022 |
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Nov 18, 2022 18:50
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Didn’t your friend hire workers or a manager to lighten the workload?
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Nov 18, 2022 19:01
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TV Zombie posted:Didn’t your friend hire workers or a manager to lighten the workload? He tried, but getting employees was almost impossible. He only had one who got the concept of donuts and stayed on for a while. Grand Fromage fucked around with this message at 19:12 on Nov 18, 2022 |
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Nov 18, 2022 19:04
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Grand Fromage posted:He tried, but getting employees was almost impossible. He only had one who got the concept of donuts and stayed on for a while. did he try to pay them wages?
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Nov 18, 2022 20:15
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I am pretty sure this was in Asia considering a city of 10 mil with only one donut joint. I want the fivver business plan because I’m fascinated to see what level of quality you get
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Nov 18, 2022 21:50
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It is pretty fascinating. The site at least makes it look like lots of people are using the service https://www.fiverr.com/categories/business/business-plans I haven't found SBDC to be all that helpful, but I haven't spent a lot of time with them. They seem rather elementary, and process focused rather than outcome. Makes sense for what they are. Whatever venue, it probably depends if you are able to find the right person for your needs. Adding "bootstrap" or "shoestring" to the search terms doesn't give any hits on fiverr. Maybe there's someone internet freelancing who would know how to guide a scrappy DIY type. Finding them would be the trick
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Nov 18, 2022 22:16
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I read through this entire thread in the last couple days. Thanks for posting it Rationale, regardless of what I'll say below it's been fun to read. You're an entertaining poster and I hope you keep posting, even though I know if you actually make it to opening day you're not going to have time for us any more. I'm imagining a person who hates spreadsheets and being organized and planning ahead handling the baking aspect of making hundreds of donuts daily. Multiple batches going at once, some proofing some frying some glazing, the right amount of ingredients here and there, set the oven and oil and whatever to the right places, going down a mental list of what to do at 3 am after yet another 4-hour night. Oops made 2x batches of crullers and 0x batches of old fashioned, welp. Oops those ones didn't proof enough, I got the order wrong and put the 2nd batch into the fryer instead of batch 1. Welp. Just plow ahead, YOLO! We got a big order for delivery to the office building down the block, I'm sure they won't mind getting the wrong order. There's ten orders for this weekend, just memorize them all and then plow forward. Momentum and the right attitude are the keys to success. The highly technical and time-critical aspects of a high volume baking operation will just happen correctly and definitely not lead to wasted products and canceled orders and lost customers. Getting your recipe right so you can make good donuts at home is probably worthwhile, and people making GBS threads on the appearance of your second batch of donuts as being unsellable are probably being too harsh. But also making a couple dozen donuts in your back yard has very little relationship to making hundreds of specific donuts, to a plan, on time, without having to re-do anything, to an impeccable standard of hygiene, in a commercial kitchen, every night for months. Rationale, part of the reason your inability to nerd out on a business plan and crack some spreadsheets and present an air of preparation and competence to the thread is a big red flag is because these aren't just the hallmarks of a successful business startup, they're the also obvious character traits of someone who is maybe capable of handling a volume food prep operation. Organization, record keeping, detailed planning. You can't do without these and still push out exactly the right amounts of the right food products on a tight schedule. The other part that keeps screaming out as a red flag is your unwillingness to be trained in any way. I saw the cool wrestling belts. Did you get to that level of wrestling without any coach, or any sparring partner, or any training at all? Just hang out in your basement, watch some wrestling videos, do some moves at a mirror, and then head straight to the state championships? Did you start wrestling in September and then start winning trophies by December? I think it's likely that you benefitted from coaching and training and a hell of a lot of practice, not just practice by yourself in theory but actual wrestling match practice. The analogy would be actual commercial baking practice, in a real kitchen. I understand you can't do that because you have a full time job. That would suggest that your odds of success on opening day (your most important chance to make an impression and gain customers is your first month) are about what a high school kid with zero wrestling experience would have showing up to a big event and jumping into the ring to face off against guys who have been doing it for years. I think you should budget in your startup capital to hire an experienced baker to do all of your baking and to teach you how to bake. If you can't fit that into your budget I don't think this is going to work out.
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Nov 18, 2022 22:19
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Leperflesh posted:The other part that keeps screaming out as a red flag is your unwillingness to be trained in any way. I saw the cool wrestling belts. Did you get to that level of wrestling without any coach, or any sparring partner, or any training at all? Just hang out in your basement, watch some wrestling videos, do some moves at a mirror, and then head straight to the state championships? Did you start wrestling in September and then start winning trophies by December? That said, I am rooting for you Rationale (assuming this isn't a troll). It would be cool to see someone build something like this starting from nothing.
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Nov 18, 2022 22:37
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Train by making donuts and selling them from a folding table on your building property. Trunk acceptable if it’s a station wagon.
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Nov 18, 2022 23:09
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