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Starting My Own Business


MA91CK

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  • Go Pies!!!
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  • Member For: 17y 26d
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  • Location: Vic Somewhere - Sometimes NSW

Ok, only 'skimmed' this thread...

Few things - difference of opinion.

Panda - P/L? why? his talking about being a Sole Trader - why pay 30% tax, if he can run a sole trader structure (in under 80k), just stick to the 10% GST difference.

Ma91ck - ABN: http://www.business.gov.au/businesstopics/registrationandlicences/registerfortaxation/pages/registerforanaustralianbusinessnumber(abn).aspx

Use the links on the right hand side - first search for 'existing' names that are the same as what you are thinking, or 'like'. Try to steer away from those.

Grab yourself the URL (web addy).

Get a good mentor.

Get a good accountant.

Talk to external advisors, ie - BEC offices if you have one in your area.

Make sure, or use caution if/where there 'may be' a conflict of interest with your employement. (should you have a full time job or what have you, they may not be happy if you are working in the same industry and they feel there is a conflict - so run it past your boss, might not be a bad idea).

SWOT - not sure what that means... google it.. :)

Once you are ready - buddy and cuddle up with some good suppliers, and baby sit the connection... remember who helped you get your first gig and deals going...

If you need a good accountant, our guy is in Sydney also - can help you with lots of this start up stuff, BAS, etc... but like anyone in business, its not free!

So get used to that term also - "everyone is in business for one reason... to make farking money"... This means your suppliers, and... YOU!

Tuck under another small business owners wing, and SERIOUS take notice!

When you have made some big $$$ - remember, lil ye ol smicky drinks grey goose and belvider vodka!!! :)

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  • Member For: 13y 10m 18d
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You won't realize how much your boss makes off you until you start working for yourself. You can charge your clients less and make more money than working for your boss.

Edited by _Velocity_
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  • I <3 Floods
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You won't realize how much your boss makes off you until you start working for yourself. You can charge your clients less and make more money than working for your boss.

This... 1000 times...

But don't take your hourly wage you get full time and go from there.. Look what the industry is charging and go slightly under.

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  • billet turbos and weathered engines dont mix
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Yeh I know what you guys mean. At the moment in in a salary. So no more

No less than what's been agreed. Like I said earlier, I'll be doing sh*tloads of research before, that will be just one point I'll have to look into. But yeh, I have an idea of what people charge. Id be happy with 2/3 what they get... So I'll just have to wait and see totally dependent on demand, opportunity for expansion, number of people I have to pay, difficulty of work etc. will most probably base quotes of an estimate and go from there taking into account the above

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  • I <3 Floods
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Always remember once you start paying staff your overhead costs go up.. So once you employ people you're probably gonna charge more per hour..

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  • 3 months later...
  • billet turbos and weathered engines dont mix
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Quick update, though I'm not trying to advertise, HiQual is 95% functional, jut need a website and work now!

Bus. Cards are getting made, magnetic strip for car getting made, shirts ordered.

www.facebook.com/hiqualelecdatasolutions

Edited by MA91CK
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  • Member For: 13y 9m 27d
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  • Location: Burwood, NSW

I dont really care but that sure looks like advertising to me

best of luck with the business!

wish my mrs would hurry up and decide she is finally ready to start working for herself.

always complaing about her boss and co-workers yet wont do anyhting about it.

I try to help in what little way I can, but I dont know a great deal about starting up a florist shop lol

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  • I <3 Floods
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  • Member For: 13y 7m 14d
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Oh fark here we go..

Anyways.. Firstly you can't just open a shop like a florist and magically hope to make a profit.. Florists don't make money from over the counter sales.. They make it by charging exorbitant amounts to do weddings/funerals/overlay extravagant birthday parties.

Your missus's best bet is to find a flower wholesaler who's prepared to start small with her, then she can start going a couple weddings/funerals/parties from home.. Once the business starts to get established is when you go open a store or alternatively convert the front room of your house into a shop front while she launches it.

Bit of advertising in the local rag, a wedding expo or two and then provided she prices competitively she'll be able to start making a run of it..

I would just like to say that I'm a completely HETEROSEXUAL MALE WITH A WIFE WHO'S PREGNANT.. I just tend to know alot more then the average bloke about weddings and flowers etc..

Edited by Sharp Dressed Panda
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  • Member For: 13y 9m 27d
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  • Location: Burwood, NSW

SDP, that's all great advice.

she has done weddings/funerals/birthdays and anything else you can think of for friends and family and friends of friends before.

she works for one of the biggest florists in sydney.

has managed a shop in the past.

I used to work as a courier in the shop she managed.

so am a little bit familiar with the day to day operations.

I know in my previous post it kinda came across as 'cant be that hard'

she has very good knowledge of the industry and good contacts.

her problem is fear of not being able to make it work.

its only money to me, can always earn more.

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