Friday, July 15, 2011

Should i look for a better location or share a space with someone?

I opened a silk floral and variety store in my small town on April 3oth. The first month I was open I did fairly well.Including stock and what i bought for personal use in the store such as cash register, computer,phones etc i Hvae invested about $5000. I just did my sales and use tax for the first time. I had made $770 from The day i opened until May 20th. After including things i had bought for personal use without paying sales tax on I had to pay $145 in taxes. My rent is $600 a month. I then have phone and internet,electric, and liability insurance to pay each month. This all runs me about $200 more. Since May 2oth I have only made about $400 for that month. My rent is due July 1st and i really can't justify paying it and really can't afford to. I am located on a side street and as i said live in a small town and people just don't come in. Ther is nowhere to park on my side of town. People have to park across the street in a parking lot and walk to my shop. Some people have used tis as an excuse about not coming to the store. There is one other florist in town who has been there forever and another store where a lady does silk flowers in the back mostly funeral and cemetary, i do home floral also and she doesn't but they both have their own parking lots. I have been offered to go in with someone who owns a shop on main street. She has a 1200 square ft building and pays $500 monthly and says she does not need all the space. That would be $350 less than i am paying now but I don't know her and not sure about sharing space with someone. I have $65,000 in savings but I am am married to a man 11 yrs older than me who plans on retiring in about another 1 1/2 yrs and when he does I will have no insurance and he will draw a lot less than he is making now. That is why I wanted to do this business because this is all i really know how to do and thee are no jobs where i live besides fast food or plants that pay miinimum wage and i have some health isues that would cause me not to be able to do these types of jobs. I am really struggling with this decision.

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