You sell in person.
You might have a retail space or have pop-up sales at fairs, local markets, farmers markets, conferences, or really anywhere you meet with people. You might even have your own bricks and mortar business and want to sell online to grow business. Not all accountants can help you with this aspect of your business. But we can.
Here are your challenges:
- Overhead - costs can be a lot higher when you exist in the "real world." No matter whether you're selling out of the back of a truck or in a building, you need to think about how your sales will cover the increased costs of staffing, rent, insurance, and other overhead expenses. You may need someone to help you assess whether selling in person makes sense financially.
- Inventory - if you have both an online business and a physical store, you need to be careful not to accidentally resell an item in person that was just sold online. Your online customers won't be happy if you have to call them up and explain why the item they bought just left your store and is now suddenly on backorder.
- Marketing - just like you need to focus on SEO and marketing for your online business, you need to figure out how to increase foot traffic to your physical site. Whether you're online, at a conference, or have a shingle hanging out front, customers need to know where to find you.
- Cash Flow - it's challenging to know when you should be investing in more inventory, paying yourself more, increasing your marketing, or setting money aside for future needs. You need guidance on managing multiple credit cards, alternative financing (i.e., Kabbage or PayPal loans), or getting a bank loan.
- Accounting - you may know if you're making a profit on what you sell, but you don't know if that's enough to support your overhead or the growing inventory needs for your business. You don't know if you're profitable overall, and you don't know which of your products is making the most money.
- Sales Tax - you have to collect sales tax for sales wherever you have "nexus," and if your pop-up store moves around a lot, that can be a lot of different jurisdictions to keep track of. And of course, you then need to remit those funds to the government. It's just one more headache you don't have time to deal with.
Point-of-Sale Accounting Services
Catching Clouds provides a complete outsourced ecommerce accounting service for your Amazon business.
Ecommerce consulting - ongoing business, technical, and process optimization guidance
Setup of integrated cloud accounting, cloud inventory, sales tax, and supporting tools
Virtual controller service
We're like no accountants you've ever met.