I talked to Peggy tonight and she briefly related to me her conversation with Alyce. I think it is providential how each of us has a role in all this. We each have a specific talent and interest that is making up the entire business. Peggy has the craft abilities to make the dolls, Ruth has the background and ability to design the clothes and make them, I have the ability to do the knitting and spinning to make sweaters, hats, etc. and Alyce has the knowledge and the ability to put the whole business end of this together and do it in a professional way. We are each doing the part that we like to do and that is what is making it fun. Without each part, nothing happens for the rest of it.
I know everyone is probably thinking about the money involved in getting this business going. I don't know if we will ever get rich or not, but I think with time we will at least break even. My opinion about how money matters should be handled is that whatever each of us spends on our part, should be tracked and then when the dolls start to sell, those production costs should be compensated first. Anything after that is split four ways equally as profit.
Example: Month #1 Alyce puts in $800 for supplies, webmaster, etc, etc.
Peggy puts in $100 for supplies
Ruth puts in $100 for supplies
Linda puts in $100 for supplies
Total $1100
We sell 4 dolls @ $120 (?) each = $480
We sell clothes, etc. = $200
Total $680
We would each get reimburse proportionally:
Alyce would get $494.00
Peggy would get $61.80
Ruth would get $61.80
Linda would get $61.80 Total $679.40
Hopefully in month #2, we will sell more dolls and not have to put out so much in supplies and business costs. Eventually when all of our initial start up costs are covered, the profits will be larger and will be divided equally 4 ways after production costs are covered for the month.
I hope this makes sense. Anyway, enough from me and I will stop trying to be boss. I do want to say thanks to Ruth for wanting to do the clothes and letting me concentrate on doing the part that I really like to do. And especially I want to say thanks to Alyce for handling all the research and business end of this. Without your computer time, skills and business abilities this wouldn't be possible. Like I said....I am excited.
Love you all, Linda
No comments:
Post a Comment