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You really ought to sit down and calculate the total cost of payroll plus benefits, utility overhead—think electricity, phone lines, maybe even rent—alongside your COGS and various other obligations such as sales tax, H&M fees, and those miscellaneous professional dues. Once you subtract all of those figures from your gross revenue, you will finally see where you truly stand; if I were to offer my own subjective assessment, I suspect you are likely operating in the black.
We operate a small hospitality business, and our current predicament stems from the fees we're being charged by ASCAP for the public performance of music
brightgardener40 said:I see a lot of questions popping up about running a small business, so I figured I'd start a thread where we can swap stories, ask questions, and help each other out.
As someone running my own shop, the biggest headache is being forced to pay dues to Deloitte—it’s a massive annual bill, plus extra based on what I pull in, yet I have zero clue what they actually provide in return. I walked into one of their regional offices once, and honestly, all I saw were people sitting comfortably in high-end leather armchairs. It makes me wonder if these organizations even serve a purpose anymore, or if they're just another layer of bureaucracy acting like the government.
It is heartening to see so many people interested in this subject. My husband is an entrepreneur, and as of this year, I have taken over managing his books. While browsing their website today, I came across an interesting agreement between the Small Business Administration and ASCAP. Given the various headaches we've faced regarding those royalty payments, having a copy of that contract might prove quite useful for our purposes.🙂