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Forum nameThe Daily Grind
Topic subjectRE: Small Business Success ... When???
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=109&topic_id=144&mesg_id=149
149, RE: Small Business Success ... When???
Posted by Pepperfire, Mon Apr-14-08 08:32 AM
>Hi Tina-
>
>Thanks for your comments. Did you mean that if we aren't
>making money in the 5th year then we ARE doing something
>wrong?
>
>It sure seems that way.

It's what they say. I think that if after five years you aren't making money, though, you need to examine why not. I also think that based on what you posted, that your husband may not be charging enough... Believe it or not, that can and will debase the value of your product.


>I've heard about the line of credit, but I don't really
>understand what it is. I will check into it though. It sounds
>like a good idea.
>

Contact your bank. They'll be able to help figure out what you need.

>We charge customers a service charge plus labor and parts. But
>not a separate charge for travel. The service charge helps
>with covering that. But, he (feels) that he can't charge
>customers for time spent on paperwork, or time spent running
>down parts. And, estimates are free.
>He doesn't want to price gouge his customers.
>
>Up until now, we've run a word of mouth kind of business.
>Looking at this numbers and adding the service charge (he
>began this in 2007) I think he would have done a lot better in
>the early years when we were busy. His percentages are
>improving as well, suggesting an improvement in efficiency. We
>do have an accountant/business consultant who is great and
>trustworthy and he keeps telling us that we are doing great.
>He has few plumbers as clients and he assures us that they do
>make money.
>
>The biggest problem right now is the fact that we are slow,
>due to the economy. I think that never having done any
>advertising in the past has hurt us as well;no one knows were
>are out there.
>
>I really do appreciate the advice from both you and Denny.
>Thanks again.
>
>
>Jeannie

I can't speak to advertising... I do believe in marketing though... you might consider partnering with some hardware shops to do some workshops... get the word out. Maybe have hubby write a plumb-it-yourself column in the newspaper... Whatever gets the world thinking he knows his stuff is going to help.

And don't undersell himself!

Good luck with it.


Tina Brooks, VP Marketing
Brooks Pepperfire Foods, Inc.
Makers of Peppermaster Hot Sauces
http://www.peppermaster.com

Eat more peppers!