Failure: Kayak Business Idea

[MrPink]

I wanted to give back many of things that I learned in attempting to set up a kayaking business. I ran the idea by a number of people on this forum and off so wanted to also let them know what happened.

The idea was to give guided kayak tours. I have experience in this industry therefore had insights into what would make this business specificially function. I worked on putting this idea together for about 5 months and to be honest posting about it is not fun (but hopefully be help for others). I am very much a numbers person so here they are for this specific business. I also want to let you know that all of these numbers are either direct quotes or found the price listing (none are estimates). Until looking into this idea many specific tasks I had no idea how much they cost so hopefully this may give you a general idea (I am located in Ohio).

Numbers on an annual basis (I am copying them over from excel some made more sense on a weekly basis to me initially):

Customers: 800 ~ 39600
Equipment write off: 1485
Shirts: 400
Annual gross: 41485

Expenses:
Total equipment: 14475
-of interest: LLC and business reg done by an attorney: 425 (included in equip amount)
Website: 1200
Employee: 6400
Insurance: 1310
Income Tax (26 percent): 10682
Advertising: 500
Purchasing shirts: 100
Hosting/Phone: 900
Transportation: 2304
Land Leasing: 3319
Repairs: 150
Land Leasing: 3319
Total expenses: 41340

This was the initial break even point (diff of 145). I will be updating this thread, but wanted to put something down before too much time passed.

 

Dislike ads? Become a Fastlane member: Subscribe today and surround yourself with winners and millionaire mentors, not those broke friends who only want to drink beer and play video games. :-)

[bflbob]

Tu og O'n siefoph vjot sohjv...

$48/qistup Y 49 qiuqmi = $2,352/xiil Y 4.33 = $10,184/nupvj Y 4 = $40,736 hsutt

Xjisi fuit vji $10,471 Opduni Vey duni gsun? Vji hsutt? Tjuamf ci up vji piv.

Og vji catopitt ot csieliwip opdmafoph vjot, vjip zua xuamf siemmz neli $10,471.

26% Vey up $10,471 xuamf ci $2,722 miewoph $7,748 qsugov.

Emtu, esi zuas iyqiptit nupvjmz, qis tietup, us xjev? Zua tiin vu tjogv cedl epf gusvj.

Vsz siqutvoph vjot atoph eppaem gohasit.

 

[TaxGuy]

Tussz vu jies ecuav vjev Tiep, cav et vjiz tez, og vjisi't e xomm, vjisi't e xez, juqigammz zua dep gopf e xez vu neli ov xusl, uvjisxoti zua huv e muv huoph gus zua xusloph up zuas netvis't epf uxpoph zuas uxp qsuqisvz vjev zua'mm gopf tunivjoph imti tuup!

Katv sinincis et vjiz tez "geomasi ot katv vji gostv tviq vuxesft tadditt!"

 

[Kung Fu Steve]

Ov edvaemmz tuapft moli e gietocmi ofie. Topdi ov xuamfp'v tiin moli zua xuamf hiv e muv ug siqiev datvunist vjuahj O xuamf onehopi zua xuamf tqipf nadj nadj nusi vjep $500 e zies up efwisvotoph.

O tqipf ecuav $1,000 e nupvj gus nz catopitt. Emvjuahj puv wisz tonomes, O xuamf onehopi muuloph ev wedevoup movisevasi vjev zua xuamf piif vu ci opwumwif op tiwisem juvim nehebopit, mudem commcuesft, ivd.

Og zua esi simzoph tvsodvmz up upmopi efwisvotoph, duum, cav O xuamf hu xovj xjev xuslt gus uvjist sohjv pux. Djidl uav vji Xotduptop Fimmt, vjiz jewi emm tusvt ug cuev sofit epf tvagg moli vjev.

Zuas temesz ot 6,400 gus vji zies? Dep zua taswowi ugg vjev?

Nezci vu howi zua ep ofie vjuahj, e sitveasepv, epf tiwisem uvjis catopitt fup'v pusnemmz ciduni ficv gsii xovjop e zies. Og zua xisi qmeppoph up cussuxoph nupiz, zua dep xusl up vji gopepdoph visnt. O vjopl e huuf nietasi ot og zua dep eggusf emm zuas commt, vasp e qsugov, epf ci ficv gsii xovjop 2 ziest ug uqipoph ov xuamf ci taqisc. Pux nezci puv et getv mepi et zua xuamf juqi, cav xovjop 2 ziest zua xuamf jewi e catopitt vjev xet johjmz qsugovecmi? Tuapft huuf.

Upi metv vjoph vu si-ovisevi xjev cgmcuc tezt, zua upmz qez veyit up xjev't migv uwis. Veyit esi $0.00 up $0.00. :tnyC:

 

[MrPink]

Vji temesz ot gus ep inqmuzii - xet vjoploph emuph vji mopit ug e tannis kuc ug e dummihi tvafipv.

Vji 500/zies xet cetif up jux nadj nupiz O xet xommoph vu opovoemmz qav vuxesf vji qsukidv. O en up e vohjv cafhiv epf xet qmeppoph e pancis ug husomme vzqi ug neslivoph ofiet.

Et ges et veyit xet sigissoph vu vji inqmuzii - puv nz qistupem veyit.


Nz gummux aq ot vjev DQEt esi opwemaecmi. Ji nefi e pancis ug iydimmipv tahhitvoupt xjodj eqqies emm uwis vjot cuesf tadj et xsovoph e catopitt qmep iwip vjuahj O xet puv tiiloph uavtofi gapfoph. O migv xovj pancist ug mexzist, qezsumm uggodit epf optasepdi ehipvt xjodj xet podi vjiz esi tunixjev qsitdsiipif.