I'm new too!!!

Discussion in 'New User Introductions' started by flour chick, Aug 1, 2004.

  1. flour chick

    flour chick

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    Hi! I just stumbled onto this site and I love it! I've actually just come to a crossroads in my life. My husband and I met in culinary school. He found his love in cooking and I found mine in baking, and specifially in making and decorating wedding cakes. Two years ago he was offered a chef position that required us to move 500 miles from where we both grew up. He took that job and we moved and since then I've had a horrible time finding a job that I really like. I've found it pretty difficult to find work as a cake decorator and I've also gotten to the point that I don't want to work for other people anymore-I'm ready to try it on my own. Anyway, we just found out that we will be moving again (oddly we've moving right back from where we started) and I've decided I want to try my hand at having my own cake shop. I feel like I gave up on my dream to allow my husband to pursue his and now I want a shot! I'd love to hear from any of you out there who have advice (or good wishes :D ) I definitely need the support!!!
     
  2. cape chef

    cape chef

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    Welcome Flour chick,

    Check out the pastry forums, think you'll enjoy them.
    cc
     
  3. travelchick

    travelchick

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    From one "chick" to another, WELCOME!

    I'm new myself, just found this place last week and I love it.

    If you have any questions about running a business, please feel free to ask.

    We don't work in the food industry but we've had our own business for 14 years (we make signs & banners) and I'd be happy to help with anything I might be able to. Not food specific but the generalities of running a business and definately in the graphics/marketing end of it :D
     
  4. kaylinda

    kaylinda

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    Hi Flour Chick...
    Hope you're able to pursue you ambitions of owning your own place.
    If I can be of any help...feel free to write...I'd be glad to help.
    Do you have any bookkeeping experience? You'll find this is very important if you own your own business.
    I heard this little saying once: "Without dreams there is no need to work...without work there is no need to dream."
    So keep on dreaming....dreams can come true!
     
  5. flour chick

    flour chick

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    Thank you for your replies. I have no experience book keeping or marketing or any of the business side of things! I was actually up until 3 am because I couldn't stop thinking about how a business pays its taxes. I really have no idea how to do it. Is there a computer program I can buy that I can use? It's really freaking me out!
     
  6. momoreg

    momoreg

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    Flour chick,

    I hope to see you in the pastry forums.

    In the meantime, make sure you want to go into business for the right reasons! Get the experience you need before getting in too deep.

    Welcome to ChefTalk!! See you around... :)
     
  7. kaylinda

    kaylinda

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    Hi Flour Chick....
    Don't give up when you're just getting started!
    We use "Quickbooks" in our restaurant. It works for us...as we are a small business. Without bookkeeping experience you may not understand it all...but I'd be glad to help!
    If you open a business, the first thing you'll need to do is get a Federal Tax Number. Then, you need to apply for a state tax number so you can pay the sales tax you collect from your customers. Always remember that when your customer pays sales tax that is not your money. You have to hold it and send it in to the state. They will tell you how often to send it in. If you have employees, you have to have a "withholding" number as you will send the taxes you hold from their checks to the state.
    If you will open it by yourself....you'll be a "sole proprietor". If you open it with your husband, you'll be a "partnership".
    A business has to keep a good set of books. You are always subject to an audit.
    Keep a record of all the money you take in...and where every cent goes when you pay it out.
    A profit and loss report (some call it a P&L for short) is simply this:
    "All your sales" minus "All your expenses." What is left is your income or your loss for the month.
    At the end of the year....if you had an income..you will owe taxes. You will always owe 15.30% of it for your social security and medicare....(you have to pay your half 7.65%...and the business has to pay 7.65%).
    Since you don't know bookkeeping I'm sure you will take your profit and loss to a tax person at the end of the year. If you had an income they will add it to any other income your situation had...(husbands income etc.) and then they will figure the tax for you.
    Hope this helps a little....I hope I haven't just confused you more....but don't lose sleep over it....there's plenty of help out here!