Your Ultimate Guide to Opening a Coffee Shop – ShoeMoney

We’re at the tail-end of the coffee revolution. We survived fair-trade coffee and we’re all now consuming single-origin direct trade coffee through vacuum tube processing or…something. The coffee business is still booming. You see new coffee stands cropping up on every street corner. Everyone craves that effervescent pop of caffeine tickling their brains. Consumers spent $74.2 billion on coffee in 2015. That’s only four years ago. If you love coffee, money, and people, then you might think “hey! I’d like to take advantage of that coffee money!” Well, you’ve come to the right place. I’m going to give you all you need to open your first (hopefully of many) coffee shop. 1. Research All the Things! If you were the first person to open a coffee shop in the world, you would be able to skip this step. But since you’re one millions or maybe billions, you would benefit from […]

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Here Are the Benefits of Multiple LLCs or Corporations for Your Businesses

Entrepreneurs running several companies under one LLC may benefit from creating multiple corporations. June 1, 2018 4 min read Opinions expressed by Entrepreneur contributors are their own. What kinds of traits do entrepreneurs share? They’re driven to succeed. They’re not afraid to try, experiment and fail. They love to iterate and expand. All of these traits lead to the oh-so-common case where one entrepreneur has multiple businesses, all operating under one limited liability company (LLC). But, is this the best practice? Related: What’s the Best Way to Legally Structure Multiple Businesses? Having one LLC under which other businesses operate, either as a Doing Business As (DBA) or a holding company, can be perfectly fine. On the other hand, you can certainly create a new LLC for every business you want to make.  Making multiple LLCs, in fact, is perfectly legal; there is no limit to the number of LLCs one person can […]

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A Dos and Don’ts Guide to Finding Business Partners

Some of the most common questions I receive from the SPI audience are about the legal aspect of starting a business. Although I’ve had my fair share of legal-related experiences (both positive and negative) since starting my business, I also know that I don’t know everything and need someone in my corner who does. That’s why I’ve been working with Richard A. Chapo from SoCalInternetLawyer.com for almost ten years now. He’s my attorney, and he’s here to help all of us understand the bits and pieces of legal information we might need to know to protect our online businesses. Richard was featured in Smart Income Podcast Session 231 where he and my trademark attorney, Alena Herranen, tackled the most common legal questions for those just starting out in business. Richard is back today to tackle the important decision of starting a business with a partner, and all that should be […]

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9 Tips for Managing Your Business Finances—Guest Post from Dave Heistein

Look underneath the surface of any good business, and you’ll typically find finances that are well-managed and in order. This is why I wanted to invite my personal CPA, Dave Heistein from ProfitwiseAccounting.com, to write a guest post to talk about what we as entrepreneurs can do to best manage the finances of our business. I’ve been working with Dave for over five years now, and he’s been fantastic. CPAs come in all styles, and I love working with Dave because he’s always very honest and he plays it safe for the benefit of my family and my business. Here he is with some tips to help you manage your own business finances, no matter what level you’re at right now. Most of us would agree that highly successful people tend to share common traits such as tenacity, vision, hard work, luck, and business savvy. We often say these people, […]

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