Small Business: Industry: Retail
Getting your products on the market is a first step, but getting them in front of the right potential buyers is essential.
Callixte Matala, Mac-uisine, Montreal
A year ago, I started a high-end, stainless-steel kitchen sink distribution company in Montreal. I've recently added bathroom sinks and bathtubs to the line. The sinks are very high end, made of marble and granite, ranging from $600 to $2,500. Cabinet makers and kitchen designers spotlight them, but I'm still having a hard time selling my sinks. I'm trying to target those who are remodeling their kitchens. What should I do? Read more…
If your business is in a target zone, don't miss out on the benefits.
Ros Borden, Miami
My wife and I own a convenience store in a federally designated enterprise zone. We have eight employees and we have owned the store for two years. We are struggling to stay afloat and to hold onto our employees. Can you get us information on how to use this designation to benefit us and our employees? I have already cashed out my retirement money. If we can’t get help, we’ll have to put eight people out on the street. Read more…
Susan Kelley, Kellsson Linens Inc., Denver
Currently I have a traditional health insurance plan for my business partner and myself. However, I hardly use my insurance, while my partner uses all of his and more. I would like to change from this tradtional health insurance into either a Health Savings Account or Health Reimbursement Account, but find it difficult to get information in regards to how these plans operate, and which would be most beneficial to the company and/or to each of us personally. Can you breakdown these 2 plans, with the pros and cons of each plan, so I can make a more informed decision before our current insurance renewal date?
Austin Wiggleton, Mark's Office Furniture, Virginia Beach, Va.
My father has been operating a small furniture company for the past 20 years as a sole proprietorship, and I have been begging him to form an LLC. My question is, if he owes a small amount of back taxes, do the balances have to be paid in full in order to form an LLC or does the balance transfer?
Jay Bhatt, Vikram Sports, Laguna Hills, Calif.
I want to sell baseball bats and table tennis rackets to big retail chains. My company is a 100% minority owned business. What is the best way to proceed? What gross margin do these stores expect to make? How should be my pricing structure be (discounts, co-op, etc)?
Trade shows and industry magazines are fertile sources of contact information for distributors specializing in your field.
Phyllis Erickson, Baltimore
What are the best resources for finding a distributor that specializes in a particular retail area – i.e. sports apparel, running apparel or biking apparel?
Hit by the slow-down? Gotta get out? What to do when you can't pay.
Gopal, Broomfield, Colo.
Business hasn’t been good recently at my dollar store, due to the shaky economy and high fuel prices. I’m not making enough to even pay the rent this month. If I close, I will have nearly three years still left on my 5-year lease. If I do out of business, must I still pay rent – it’s roughly $5,000 per month – for the remainder of the lease? How can I get out of my lease without running afoul of the law? Read more…
A business owner looking to get out checks with Ask FSB on minimizing the tax bill.
Emile Dauphinais, Charlotte, N.C.
I’m looking to sell my business. What portion of the sale price is counted as capital gains? How long does one have from the sale of a business to use the profits before capital-gains taxation come into play? Will purchasing another business with the profits offset the gains? And does the new business have to be of the same type? I am now in retail, but might want to consider real estate.
Read more…
Angel Burnett, Centennial, Colo.
I am launching a greeting card line. What are your suggestions on getting into major retail stores?
The government can help you get cash with the SBA's 7(a) program, but banks still hold the purse strings.
Chris Holm, LUK Industries, Chandler, Ariz.
I run an Internet retail store that has been in business for just over a year. The business is running in the black, so I want to move some of our start-up costs to a fixed-rate loan. Is an SBA 7(a) loan the right choice for us? Read more…
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