Join as a member and download the cashflow forecast spreadsheet I'm using in this vid from here: smallbusinesstoolbox.uk/cashflow-forecast-template-uk/ 👍
a thriving french bistro near me closed down recently due to a 5 x increase in energy costs, despite it doing well, it's not a good time to be opening a brick and mortar business on a high street, and that's in the north where it's cheaper, imagine what it'd cost in mayfair or somewhere insanely expensive, a sign of things to come unfortunately.
Listened to this whilst doing some gardening. You cover so many interesting points. Plenty of lessons to take away from this for future decisions. Thank you for your time & wisdom. 💪 Whilst it's not necessarily a business, the increase in costs during and after covid wildly threw off my numbers on the renovation project im working on. The numbers still added up, luckily, due to having a somewhat excessive contingency; and it's going on the market in the next 2 weeks.
What sort of leases are all the vape shops, £5 barbers, and beauty salons on a typical deprived high street signing? Do they get the big money launderers backing their business to negotiate with the conglomerates ;-) ?
What is COGS if you have a rehearsal/teaching room with an office / control room behind, and staycation space for intensive training. Mine is all 'service' related though all equipment is supplied for use in the studio. So my space, mics, instruments, computer and all the costs behind the walls for soundproofing, plus separate accommodation for staycation courses.
In my experience COGS is more used for businesses selling a physical product. For service-based businesses like yours I wouldn't normally consider COGS. 👍
@@SmallBusinessToolbox Thank you so much, because I have never input COGS on my tax return before, but then when you explained Opex and Capex I suddenly thought that meant that the drumsticks for example, are not for sale, but certainly a necessary cost in order to teach and receive money for.... So glad as I've been staring at the empty space next to COGS for many days! So... 🎙️🎹🎵so, I continue with Nil COGS... ☘️
Join as a member and download the cashflow forecast spreadsheet I'm using in this vid from here: smallbusinesstoolbox.uk/cashflow-forecast-template-uk/ 👍
Over the last year have heard from several publicans quoting similar obscene energy costs to those mentioned..
I need to have a chat with a few as it seems completely non-viable. Not sure how Wetherspoons are still going! 😬
Business energy tariffs effectively give large customers a discount.
a thriving french bistro near me closed down recently due to a 5 x increase in energy costs, despite it doing well, it's not a good time to be opening a brick and mortar business on a high street, and that's in the north where it's cheaper, imagine what it'd cost in mayfair or somewhere insanely expensive, a sign of things to come unfortunately.
Difficult times indeed!
Crazy stuff. That industry was hard before, no idea how they're making it work now. 🤔
Listened to this whilst doing some gardening. You cover so many interesting points. Plenty of lessons to take away from this for future decisions. Thank you for your time & wisdom. 💪
Whilst it's not necessarily a business, the increase in costs during and after covid wildly threw off my numbers on the renovation project im working on. The numbers still added up, luckily, due to having a somewhat excessive contingency; and it's going on the market in the next 2 weeks.
No probs! Good luck with your sale! 👍
Such an eye-opening, jaw-dropping video. Thanks for sharing your research and insights! x
No worries - glad you found it useful!
What sort of leases are all the vape shops, £5 barbers, and beauty salons on a typical deprived high street signing? Do they get the big money launderers backing their business to negotiate with the conglomerates ;-) ?
I've often wondered exactly the same thing! Nail bars?!? There can't be that much money in nail bars... surely?? 🤔
What is COGS if you have a rehearsal/teaching room with an office / control room behind, and staycation space for intensive training. Mine is all 'service' related though all equipment is supplied for use in the studio. So my space, mics, instruments, computer and all the costs behind the walls for soundproofing, plus separate accommodation for staycation courses.
In my experience COGS is more used for businesses selling a physical product. For service-based businesses like yours I wouldn't normally consider COGS. 👍
@@SmallBusinessToolbox Thank you so much, because I have never input COGS on my tax return before, but then when you explained Opex and Capex I suddenly thought that meant that the drumsticks for example, are not for sale, but certainly a necessary cost in order to teach and receive money for.... So glad as I've been staring at the empty space next to COGS for many days! So... 🎙️🎹🎵so, I continue with Nil COGS... ☘️