I have an opportunity that I would love to take advantage of, but I'm not sure how to go about it.
I work at a small mom & pop retaurant. I have been making cookies on a stick for them that they then adjust the price and sell to their customers. They have suggested that we talk about making an arrangement for me to bake out of their kitchen and running my own 'business" that way.
My husband is worried about getting into the actual business part of it and having to do the tax id and all that. He thinks that I should make an agreement where I would continue to work as an employee and get a hourly wage and then bake and sell through the restaurant and let them handle the tax side of it and have a percentage split on the profits.
I don'tknow how to handle it. I'm not sure I'm ready to handle the business end of it all but I really want a licensed kitchen to work from so that I don't have to worry about the health department knocking on my door.
Please give me your thoughts on all this and how you would handle it or what kind of arrangement you would suggest. Thank You!!!!!
mamaof3,
I think you should go for it. Honestly, the paperwork sounds like a lot, but it isn't that bad. You will make a bigger profit if you are charging your own prices and choosing your customers.
There are benefits to working as an employee also though- you would be operating under their health dept. permit and covered under their insurance for liability, etc. Little to no paperwork. No selling.
You should sit down and make a list of what you consider to be the pros and cons of flying solo vs. being an employee. Then sit down and make a similar list of your strengths and weaknesses. You know, like if you are organized, good with financial decisions, shy or outgoing, etc. Once you closely evaluate the two lists together, I think you'll know what is right for you.
Sounds like a great opportunity to start your own business. Starting your own business will allow you to sell at other places as well.
Honestly, I don't get his thinking....why only one banana when you can have the whole bunch? It is never, never, never the employee that makes the money it is the owner!
Take a chance....if you still feel uncomfortable work it as a 50/50 to a 75/25 to a 100 percent owned by you venture.
What ever you do get a contract and get a lawyer to look it over!!!!!!!
I have never been encouraged to be an employee. My parents are business owners (multiple businesses), DH is a business owner, it's in my blood I suppose- and what I'm surrounded by. There is a lot of work that comes with it, it does fall on your shoulders to handle it all unlike being an employee. Definitely get all things in writing. As far as getting a fed. tax ID- it's not really that big of a deal, an accountant can get it for you, or you can fill out the app online. Think about setting up as an LLC, so that your personal assets aren't at risk. Find out if there is a local chapter of SCORE near you. They assign you a "mentor" who helps with your business- for FREE. As long as you protect yourself financially, it's a risk worth taking, IMO.
Good luck!
I think your DH is just scared about the unknown. Just like to golfgirl being an employee seems like a foreign idea, to many of us we have never known anyone to own their own business and that seems foreign to us. I say go for it!!
Kristin
Well, I guess I should add that I have been an employee- but I'm a really bad employee! I don't like people telling me what to do and not being able to operate on my own schedule!
I can understand being nervous. It's a scary thing. I suggest doing the research and then presenting it to your husband. Maybe once you have the info and can show him that you are serious, he won't be as nervous.
Like tiptop said, congrats!
Thank you all for your input! I'm definitely going to get all the info I can before I decide on what to do. I have to admit that I, too, am scared off the unknown.
I'm going to make those lists of pros & cons for both options.
Thanks again all of you !!!
Just remember that as an employee, the reputation for the cakes is going to go straight to your business....NOT you!
Right now I do cakes from home on the side but also work 2x/week at a high end catering place. We mostly do desserts and wedding cakes but slowly my boss and I are getting more known for being able to do "cool" cakes so we are getting more orders for them. They know I decorate and everything but ultimately my boss gets most of the credit...and ultimately after that, my catering company gets the credit. However I already have my own "name" via word of mouth and so I'm just happy that my skills got me a decent paying part time job.
But my point is that if you want the cakes to be YOURS you'll have to do it yourself (rent the kitchen, use it or whatever) so that YOUR name is on the cakes. Otherwise, if your company is paying you to do them, THEIR name will be on the cakes. Then if you ever want to branch off, you'll have to start again building your reputation.
your husband will change his mind once he sees the good outwieghing the bad!!!Quote by @%username% on %date%
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