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Business Owner Assistance Last viewed: 3 minutes ago

Posts: 1651 Threads: 215

So earlier this year I started up a business buying & selling,repairing,and restoring drums. As the time has gone on I've had more clients and have been slowly building my business. I have some potential investors now so I started really drawing up my business plan. I even went to Forbes and wrote down the top ten questions every business plan should answer. But one has me Hmmmm

I'm sure others on here have been part of a successful business drum related or not and any assistance answering this ( or leaning me towards my answer ) would be greatly appreciated. The question is " What are the Economics of your business "

Really have no idea on this one. Not a business guy and never been close enough to the center of any business to have a rough idea.

18 Kits & 40+ snares..
Not a Guru, just addicted to drums

- Jay
Posted on 9 years ago
#1
Posts: 10714 Threads: 579

Define your revenue stream including pricing structure, cost, margins and expenses. for your particular business, If you can take a few course at your local community college,

Your drummers not much good is he!? What you need is someone that's as good as me. ! John Henry Bonham !!
Posted on 9 years ago
#2
Posts: 1163 Threads: 36

Sorry, I don't have anything constructive to say to help you. But I want to wish you all the luck in making this work. It sounds like you've done well so far, and long may it continue.

40's Slingerland Radio King WMP
60's Ludwig Downbeat Silver Spark
70's Ludwig Super Classic White Marine
60's Gretsch RB Champaigne Spark
70's Rogers Big R Black
90's Sonor Hilite (Red maple)
00's DW Collectors Broken Glass
00's DW Jazz Series Tangerine Glass
10's DW Collectors (Acrylic) Matt Black Wrap
10's PDP Concept Wood Hoop kit (Maple)
Proud ambassador of the British Drum Company
Posted on 9 years ago
#3
Posts: 1971 Threads: 249

http://ctsbdc.com/resources/ Small Business Development Center in Connecticut. Might be worth seeing what help they can offer.

http://www.investopedia.com/terms/b/business-economics.asp?layout=orig

I like this little walk through on pointing together the plan. http://www.entrepreneur.com/encyclopedia/business-plan

Not a Guru... just interested..
Posted on 9 years ago
#4
Posts: 89 Threads: 32

There's a lot of great information contained in the resources listed above, but a personal word of advice from a long time small business owner.... manage your expenses very carefully. Fixed overheads incurred because you think you are going to do great things can be a long term killer. Keep costs low and grown organically.

My 2 cents. Good luck.

Posted on 9 years ago
#5
Posts: 1651 Threads: 215

Thank you guys greatly for the input. Peteinvicta1 I'm certainly trying to keep my costs low and grow slowly but steadily. I want to make sure ( especially with buy / sell deals ) that I spend only what I think I can at least double. If I'm not positive, I'll tend to stay away. Thankfully for the moment as well, since I'm running this from home I don't need to worry about rent or other utilities associated with a separate shop. I have a long term goal in mind, but many short term steps to try and get there without getting ahead of myself. Again I thank you guys for the input. It is greatly appreciated.

18 Kits & 40+ snares..
Not a Guru, just addicted to drums

- Jay
Posted on 9 years ago
#6
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