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Spreading My Wings

post #1 of 3
Thread Starter 

After working for the past 7 years managing the event division of a large catering company, I handed in my resignation so that I could open my own patisserie. I have always worked for someone else so any advice, anecdotes, the good, the bad & the ugly of owning/running your own business, I would really appreciate it if you could share!

post #2 of 3
Ive owned my own places both in the USA and here in Sweden. Its the same stuff different lingo on both sides of the pond. Good points, you have the freedom to do your own thing, the choice to be the employeer you always wanted to work for, feel like going into the kitchen at midnight and experimenting, you can. Your own vision, you have a good boss, if you do it right, lots of money. The bad, dealing with vendors, insurence companies, accounts, lawyers, the tax man, repairs guys, changellng customers, paperwork, cash and credit card control, employees relations, the health dept, utilities, everyone with a hand sticks it in your pocket looking for money, your precieved as rich. Wait till the first time your short payroll and you skip paying yourself to pay your people. These are just some of the ups and downs of owning your own place, somedays Id like to just go to work and earn a pay check, most days Im enjoing owning my own. Best wishes to you in your endevours, may success shine your way.
post #3 of 3

A short response before I leave for work. Set up a sales tax account. The bank knows how to do this. It is easy. The sales tax is NOT your money and WILL  be collected on the date due. Put it aside in the account. Daily amount will seem small. The amount due on collection date will not be. There are zero excuses for not having the money. 

I'd write more but maybe later. 

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