Wednesday, January 03, 2007

Uncle Sam do take a bite...

Well, we've just concluded the second-year of Signature Title Services. It was a good year and we're very happy with the outcome, all things considered. However, if there's one thing you'll definitely learn when you own your own business it's that it takes a lot of money to make a little money.

Don't get me wrong, I'm not complaining. We make a decent living. But if I told you how much money we took in as a business last year you would choke. Then, if I told you how much went back out the door in expenses you would vomit into your own mouth. Finally, if I told you how much we had to pay in taxes on what little remained of the amount that initially came in you would swallow the vomit... and choke again. Trust me, it wouldn't be pretty... and there would be a lingering smell.

Here's another thing you learn the hard way when you own your own business: Anything with the word "corporate," "business," or "commercial" attached to it costs five times as much as it should. Internet services in your home will cost you $50 a month but a business" internet package will cost you $150. Home phone = $50 a month - business phone = $200 a month. Would you like to buy a small building to house your business? Expect to pay $250 a square foot for "commercial" real estate. That's right, a 2000 sq. ft. box with a parking lot will set you back a half million dollars. Beginning to get the picture? It's scary to think that a small building with less a square footage than our home will cost us more than twice as much. (Actually, 2000 sq. ft. is larger than our home but still, a half a million freakin' dollars! Who can afford that!)

I complain because it's what I'm best at but the truth is that starting your own business is the best thing we ever did (well, unless you count that thing we did in the ballroom of the Hyatt Hotel after hours...). Sure, Bobbi has to put in some long days and I spend many a night doing the books and taking care of payroll (and weekends moving furniture and designing websites) but it's invigorating and exciting and I'm so glad we finally did it.


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