• Are you tired of working from home and struggling to decide whether to rent a physical shop?
• Want to grow your business, but worried about the financial costs and taking on debt?
• Do you need help writing your business plan and don't understand how much revenue and profit are required to cover the commitment?

In this episode, I will show you the key figures you need to consider before committing to a physical shop, including revenue, profit, savings, set-up costs, and cash flow forecast.

I share my experience of building my online business before taking on (renting) a commercial premises of 386 square metres, which I turned from scratch into a massive, state-of-the-art Hair store and Beauty Salon, one of its kind in town.

What You Will Learn:

• Why it is critical to know your numbers.
• What to include in your business plan, cash flow, and financial budget, and why it helps you make better decisions.
• How to understand your numbers and what to look for when checking your affordability.
• The important questions to ask before renting a shop and how to look beyond the rent when considering the bigger financial commitment.

It will change the way you look at your numbers and help you make better decisions before you rent that shop, friend!

So you can understand what your business can actually afford and when to make the strategic move.

Hope you are ready?

Grab your favourite drink and notebook; let's get down to business.

Next Steps:

👯Become an Insider https://www.simplifyonlinebusiness.com/insider

⏰ Get your planner to save time and energy. Plug in your schedule and free up time, up to 20 hours per week. Save 15% with code: Simplify Online Business. https://bit.ly/m/GiftZion

💷 Spending Too Much on Bills? Bundle up your household costs and start saving in just a few clicks >> https://bit.ly/Savetimeandmoney

💙Join the Facebook Group https://www.facebook.com/groups/simplifyonlinebusiness

Related Episodes:

18 | RENT SHOP SERIES: No Business Plan? 3 Ways to Track Profitability and Financial Budget Using Your Revenue and Expenses (Part 3)

17 | RENT SHOP SERIES: Protect Your Revenue & Work-Life Balance, Mama! 7 Questions You Must Ask Before Signing a Business Property Lease (Part 2)

16 | RENT A SHOP SERIES: Should I Rent a Retail Space? 5 Mistakes to Avoid + Business Plan and Revenue Tips to Save Money (Part 1)

3| Don't Know What to Sell? Simple Business Plan to Clarify Your Ideas and Grow Your Income (Part 2 of 3)

• Do you want to grow your business but don't know how?
• Need help writing a business plan that works for you?
• Still considering renting a shop but worried about getting into debt?
• Do you feel like you've done everything you can, yet nothing seems to be working?

Before you rent that shop or make any more financial commitment, you need to understand what is happening with your money. I know you are busy running the business and working hard. But if you are spending money with no results, you need to stop and look at your numbers!

How do you know if your business is profitable?

Spending money isn’t how you grow your business; knowing your numbers and strategic planning is what you need to grow your business.

If you don't understand profitability or how much profit you need to make to grow your business, you put the business at risk every time you spend money. This keeps you working harder than you should and eventually leads to burnout.

That’s why I recorded this episode: to help you understand your numbers to save you all the hustle.

In today's episode, I am going to walk you through 3 ways your Revenue and Expenses can help you understand your Profitability, plus a practical guide to calculating your business profits. So you can set the right Financial Budget, build a bulletproof business plan, and avoid taking on costly debt.

This is part 3 of the Rent Shop Series.

PODCAST HIGHLIGHTS

• Learn how to do strategic business planning that drives the kind of business growth you wish you had.
• Understand the difference between your Sales Revenue and your Profit.
• Learn how to use your Revenue and Expenses to calculate your Profits, forecast your cash flow, and stay on top of your numbers.
• Understand why tracking your savings and cash reserves helps you make better business decisions.
• A simple way to plug in your business transactions and numbers into your cash flow forecast and create or refine your business plan and financial budget.

If you are having a hard time understanding what goes into your profit and loss account or how to calculate your business profits, you need to hit that play button!

Because you are about to learn what took me 8 years of business studies (accounting and finance) and 15+ years of practical business experience in about 20 minutes.

I am sharing the simple and practical way to determine how much money your business needs to make to grow and how to use your numbers strategically to drive your business forward.

I hope you're ready. Grab your favourite drink and a notebook, and let's get started.

Next Steps:

👯Become an Insider https://www.simplifyonlinebusiness.com/insider

⏰ Get your planner to save time and energy. Plug in your schedule and free up time, up to 20 hours per week. Save 15% with code: Simplify Online Business. https://bit.ly/m/GiftZion

💷 Spending Too Much on Bills? Bundle up your household costs and start saving in just a few clicks >> https://bit.ly/Savetimeandmoney

💙Join the Facebook Group https://www.facebook.com/groups/simplifyonlinebusiness

Related Episodes:

17 | RENT SHOP SERIES: Protect Your Revenue & Work-Life Balance, Mama! 7 Questions You Must Ask Before Signing a Business Property Lease (Part 2)

16 | RENT A SHOP SERIES: Should I Rent a Retail Space? 5 Mistakes to Avoid + Business Plan and Revenue Tips to Save Money (Part 1)

4 | Want to Grow Revenue? Niche Down Your Business Ideas and Attract Paying Clients (Part 3 of 3)

• Are you feeling overwhelmed about starting a business or growing your income?
• Already considering renting a physical shop and worried about the financial costs and responsibilities?
• Struggling to manage time between business and family and wondering if renting a shop would make things easier or harder?
• Do you need help writing a business plan that supports mum life with better work-life balance?

What if the next step in your business isn't about doing more, but making a better decision based on what your business and your life actually need?

You may have a business plan, customers, and big plans for your business, but that doesn't automatically mean you're ready to take on a physical premises.

As a busy work-from-home mum, you also have to consider your time, family, childcare, health, support, and the kind of work-life balance you want to create.

In this episode of the Rent a Shop Series, I'm giving you a simple checklist to help you decide whether renting a shop makes sense for your business and your current circumstances.

We'll look at your business plan, whether your business actually needs physical premises, viability, experience, and the practical side of taking on a shop to help you make the right decision. Don’t rush the decision.

What You Will Learn:

• How your purpose guides your decision-making, and your 3 reasons why.
• How to determine whether renting a shop or working from home is viable for your business?
• What your experience and personal circumstances have to do with the decision?
• How to prioritise your time, family, and work-life balance when making business decisions?
• How to use a simple checklist to make a clearer decision instead of rushing into a commitment?

Ready to move forward with clarity? Hit the Play button!

Grab your favorite drink and lets get down to business.

Next Steps:

👯‍Become an Insider https://www.simplifyonlinebusiness.com/insider

⏰ Get your planner to save time and energy. Plug in your schedule and free up time, up to 20 hours per week. Save 15% with code: Simplify Online Business. https://bit.ly/m/GiftZion

💷 Spending Too Much on Bills? Bundle up your household costs and start saving in just a few clicks >> https://bit.ly/Savetimeandmoney

💙Join the Facebook Group https://www.facebook.com/groups/simplifyonlinebusiness

Related Episodes:

16 | RENT A SHOP SERIES: Should I Rent a Retail Space? 5 Mistakes to Avoid + Business Plan and Revenue Tips to Save Money (Part 1)

10 | Can't Stay Focused? 3 Time Management Systems Every Busy Mum Needs For Better Work- Life Balance

9 | Hear God’s Voice Clearly Through Scriptures and Receive Direction for Your Life, Family (and Online Business)