Situation: – We are three cofounders, I have solely fully funded the startup (I am the decision maker, and work less)
– Investment amount: Approximately $4,500 – Daily Expenses: $30-40 + restocking if needed – Profits: We agreed that 100% of profits will be paid back to by me until I cover my investment, then we start splitting profits 1/3 each – Status: Currently started making sales, around $100 a day
I don’t know when and how to start cashing out versus using our profits to pay for our fixed expenses such as paying for new products, restocking, marketing, etc.
Im finding it difficult to calculate how much the business is supposed to pay me back since I am always using my money for expenses, and if I start using business profits to pay for our expenses, I will no longer know how much I really need back from our business.
What would you do?
TLDR: Three cofounders, one of them is funding the startup fully. New expenses being paid daily, how do I set a system for me (investor) to start cashing out and start paying for expenses from profits?
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Author Of this post: /u/IHelpUHelp0
Title Of post: Weird Financial Challenge | Startup edition
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