- My Forums
- Tiger Rant
- LSU Recruiting
- SEC Rant
- Saints Talk
- Pelicans Talk
- More Sports Board
- Fantasy Sports
- Golf Board
- Soccer Board
- O-T Lounge
- Tech Board
- Home/Garden Board
- Outdoor Board
- Health/Fitness Board
- Movie/TV Board
- Book Board
- Music Board
- Political Talk
- Money Talk
- Fark Board
- Gaming Board
- Travel Board
- Food/Drink Board
- Ticket Exchange
- TD Help Board
Customize My Forums- View All Forums
- Show Left Links
- Topic Sort Options
- Trending Topics
- Recent Topics
- Active Topics
Started By
Message
re: Who here has started their own business?
Posted on 5/11/18 at 8:20 pm to wiltznucs
Posted on 5/11/18 at 8:20 pm to wiltznucs
A friend opened a vineyard in CA and is in year 6 I think and will make their first profit this year.
It’s been very cool to chat with them about it. They are all about growing the right grapes. Their crop from last year is retailing for like 300-$500 a bottle which I find absurd.
It’s been very cool to chat with them about it. They are all about growing the right grapes. Their crop from last year is retailing for like 300-$500 a bottle which I find absurd.
1
Posted on 5/11/18 at 8:29 pm to Retrograde
I did. Even if you crash out the gate, you'll never go back. Keep making sausage and priming the pump.
Posted on 5/11/18 at 8:39 pm to foshizzle
quote:All depends on how willing you are to embrace excellence and dedication. Business as usual is a recipe for disaster.
What do you think you'll be doing for your customers? If you run your own business you will be working much more and will be much less able to walk away from it.
Don't get me wrong, obviously people can have a very successful and enjoyable career that way but don't think you won't be slaving away even more than before.
Posted on 5/11/18 at 9:13 pm to tigerpawl
Standards. Always be true to your standards.
Posted on 5/11/18 at 10:11 pm to eng08
At the end of the day, the old saying “junk in, equals junk out” holds very true in winemaking. Better grapes make better wine. Sure, the skill of the winemaker is important; but, amazing grapes can make even a modestly skilled winemaker look amazing. Occasionally, you catch lightning in a bottle and the results exceed even your own expectations and are truly beyond duplication. For that, I don’t see a problem with demanding premium price.
We’re fortunate to not be saddled with the expense of operating a vineyard. Bringing in quality ingredients may cost a bit more than growing them yourself; but , also removes you from the risks associated with agricultural commodities. We could never make it in Napa/Sonoma. We just don’t have the capital to compete there. There’s a saying in the industry “The quickest way to make a small fortune in wine is to start with a large fortune”. In that part of the world it hold particularly true.
We’re fortunate to not be saddled with the expense of operating a vineyard. Bringing in quality ingredients may cost a bit more than growing them yourself; but , also removes you from the risks associated with agricultural commodities. We could never make it in Napa/Sonoma. We just don’t have the capital to compete there. There’s a saying in the industry “The quickest way to make a small fortune in wine is to start with a large fortune”. In that part of the world it hold particularly true.
This post was edited on 5/11/18 at 10:15 pm
Posted on 5/12/18 at 8:52 am to wiltznucs
Wiltz, you got a place online where I can look at the wines you have? I have a lot of clients in the Tampa Bay area and I often send gifts of wine
Posted on 5/12/18 at 8:52 pm to TheOcean
www.garagistemeadery.com
Posted on 5/13/18 at 6:51 pm to wiltznucs
so you buy the grapes and make wine in tampa.
Posted on 5/13/18 at 7:40 pm to wiltznucs
quote:
“The quickest way to make a small fortune in wine is to start with a large fortune”
As Maynard James keenan replied once when asked what does it take to get started in the wine making business. “ First, you must be in a very successful rock band and have a lot of disposable income. “
Posted on 5/13/18 at 8:32 pm to Retrograde
We own a small business around 15-20 employee. We still both work... it never ends( sigh)
Posted on 5/14/18 at 1:04 pm to Fat Bastard
We do buy grapes, or more accurately we do what the industry calls “custom crush” whereby we select the grapes we want and they are crushed to meet our specs. The juice is then refrigerated/frozen to keep it from fermenting and sent to us. The actual fermentation occurs here.
Traditional grape based wines make up a very small amount of our offerings. Our wines also use other berries and tropical fruits too.
Traditional grape based wines make up a very small amount of our offerings. Our wines also use other berries and tropical fruits too.
Posted on 5/14/18 at 9:25 pm to Retrograde
Bought a revered business which was declining, due to the age and logical lack of marketing acumen of previous owner.
Have solidified positioning, and we're going gangbusters.
That said, personnel just the greatest problem, and we're not seeing continuity in key areas.
I work my arse off, but it's mine.
I did buy based on the real estate, and hope to cash in /out.
Have solidified positioning, and we're going gangbusters.
That said, personnel just the greatest problem, and we're not seeing continuity in key areas.
I work my arse off, but it's mine.
I did buy based on the real estate, and hope to cash in /out.
Posted on 5/14/18 at 9:42 pm to LSUShock
This is a great thread and very relevant to my life right now. Thanks everyone for the candid feedback/advice.
I would love to hear the pros/cons of setting up an S-Corp vs. LLC. I’m guessing it depends on the business you’re setting up, so let’s say it’s in marketing services with low overhead.
I would love to hear the pros/cons of setting up an S-Corp vs. LLC. I’m guessing it depends on the business you’re setting up, so let’s say it’s in marketing services with low overhead.
Posted on 5/15/18 at 6:42 am to Mizzou
We're an LLC but we are treated as an S-Corp for tax purposes. I draw a regular salary and take disbursements as allowed. I get a W-2 at the end of the year. However, if I leave profits in the company I am still responsible to pay taxes on those profits whether they are disbursed to me or not.
Posted on 5/15/18 at 7:42 am to Mizzou
LLC is just a hybrid entity where you can choose how you want to be taxed (e.g. partnership, s-corp). Just starting out I would roll as a sole proprietor since a single member LLC isn't going to offer you asset protection in 95% of US states.
Once you turn a profit you can then look at whether you want to stay as a sole proprietorship or form an S-Corp. No need to jump into those complexities until you start turning a profit or you're doing some high liability work.
As a sole proprietorship you still can take advantage of the new 20% deduction for qualified business income with the new tax Act and there are little to no fees when it comes to setting up a sole prop.
Once you turn a profit you can then look at whether you want to stay as a sole proprietorship or form an S-Corp. No need to jump into those complexities until you start turning a profit or you're doing some high liability work.
As a sole proprietorship you still can take advantage of the new 20% deduction for qualified business income with the new tax Act and there are little to no fees when it comes to setting up a sole prop.
Posted on 5/15/18 at 3:38 pm to Mingo Was His NameO
quote:
You work 24/365? You will for the first decade of being a business owner, if you make it that long.
Wrong
Page 4 of 4
Popular
Back to top
Follow TigerDroppings for LSU Football News