Posted on September 13, 2017
Tuesday, September 12th, 2017
Time for an update.
Things have been going well for me.
I’ve still have a job working as a tech associate at a Halloween store.
I work roughly 30 hours a week.
I’m off two days a week.
While I like the job, I know that it isn’t permanent.
It lasts until Halloween.
I want to start my own business in Hattiesburg, MS.
The business could do amazingly well if I get the right partners.
We won’t make any money for the first two years, but with stable business and constant effort improvement is guaranteed.
Our basic option is $250 for a website in a week.
We also offer a custom option for $500 in a two-week period.
A staff is required for this business to function.
I’ve got a few people in mind.
My goal is to find a way for this to work.
It’s going to take multiple long talks, business plans, meetings, and contracts.
An assistant is needed.
This business is also going to need starting capital.
I’ll break down the cost of this business.
Obviously rent for living in is the first hurdle.
Now living in a rented house in Hattiesburg. This will function as home office.
2 bedroom/2 bath homes are roughly $800 a month, so only $400 per roommate.
5k a year.
Here are the business costs.
Rent – $1000 a month/12k a year.
Easy with $250 a week as a minimum.
Utilities – $100 a month/$1,200 a year
Water – $25 a month/$300 a year
Electricity – $100 a month/$1,200 a year
Internet – $200 a month/$2,400 a year
Petty Cash – $100 a month/$1,200 a year
Equipment/Supplies – $1,700
That totals to roughly 25k. That isn’t bad for the first year of business.
In order to pay that balance off and have no debt, we need 25k worth of sales.
That equates to 100 sales a year.
In order to run the business properly, we simply need to generate one sale every 4 days.
Basically 2 sales a week will be enough to function.
2 sales a week = $500 x 4 weeks = 2k a month x 12 = 24K
With more business, we can hire more help.
All of the next few future sales goals are based on a five-day week schedule (M-F)
Imagine 5 sales a week.
One customer a day.
5 x $250 = $1,250 a week x 4 weeks = 5k a month x 12 = 60K
Imagine 10 sales a week.
Two customers a day.
10 x $250 = $2,500 a week x 4 weeks = 10k a month x 12 = 120K
Imagine 50 sales a week.
That still isn’t much.
Only 10 customers a day.
50 x $250 = $12,500 a week x 4 weeks = 50k a month x 12 = 600K
Over half a million a year in profit after 2,000 sales.
That can be done in 5 years.
In order to hit that goal, we would need to have over 400 sales a year.
The work still outnumbers the amount of people able/willing to do it themselves.
This business could be something great.