We’ll start small, little expenses that can easily be controlled or minimized but are essential and add up… fast. Then, we’ll work up to expenses that are a little bit more outside of your control and well, are usually pretty hefty. If you’ve got a way to get your hands on a money tree…. let a sister know! Please & thanks!
- Office Supplies
- Even purchased in bulk, it always amazes me just how much money one can spend on office supplies. Receipt paper (for two separate receipt printers) is a hot commodity at TSR, as are black Sharpies. So, Sharpie, if you somehow manage to stumble upon this blog, please send a giant box of black Sharpies to 503 E Nifong Blvd, Ste B Columbia, MO 65201
- Subscription Services
- Our texting service, music service, shipping service, and our social media services all have a flat monthly rate. These are kind of crucial to our business so forfeiting them just isn’t an option. Yo, Facebook / Mark Zuckerberg, can you make it easier on small business owners please?!
- Shipping
- Did you know…. an average shipment of our Corkcicle tumblers costs us at least $75-$200 depending on the size of the shipment? Yep, $200. I don’t usually like to share numbers (I’ve always been private like that) but this one kills me every single time. Most other average orders cost anywhere from $15-$50 to ship your goods here. Ouch.
- Professional Services
- Accounting, legal representation, photography, insurance. The list goes on and on. Sure, I could probably sit down and remember enough of my MBA accounting class to do our books each month (but time…and stress….no thanks). Plus, Bloom Bookkeeping does such a fantastic job, it’s money well spent. Same with every other professional we’ve got on our team.
- Bills/Utilities
- We’ve gotta keep the Internet and lights on and the temperature just right. In a space the size of ours, that isn’t always cheap.
- Insurance
- Business insurance – the thing that keeps me sleeping at night. No, seriously. It wasn’t until I sat down with my amazing insurance agent (Craig O’Keefe) and talked through various components of my policy that I truly understood what I was paying for. It made my expense list, because it’s definitely an expense, but one I absolutely don’t mind paying every year.
- Credit Card Fees
- These can get ya. Every month, we have a payment due that are our “merchant processing fees.” I will use this bullet point as a subtle reminder that cash is king and can truly help a small business sooo much. If you’re able to, we always appreciate any and all bills (and coins). Just not BitCoin…. Yet. But seriously, if you read this, remember the small folks REALLY appreciate your cash!!
- Employee Taxes
- The next two go hand in hand. Again, money well spent, but the costs can add up quickly. Keeping our shop running requires a full staff, especially during the holidays (and especially as we go into this one knowing I’m going to be seven months pregnant…. all prayers welcomed).
- Employee Payroll
- See #8
- Rent
- Columbia Real Estate. Need I say more? We’ve got a decent sized shop (hopefully bigger space on the way) in a prime location on a reallllly great side of town. We’ll let your imagination run wild on the exact number.
So, as you can see, it costs a pretty penny to keep The Southern Rose rocking & rolling. Hopefully this list of 10 Hidden Small Business Expenses was helpful to anyone looking to start a small business or a fellow small business owner that feels like the bills and expenses just keep coming! Happy Wednesday, friends!