Let's Talk Money 💸 : Only 1.5 years in business & making $180K in revenue.
Welcome to Let's Talk Money, a newsletter dedicated to showing creative entrepreneurs what's actually happening behind the scenes of their peer's businesses.
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Let's get into this week’s entry:Â
What do you specialize in: Branding and Squarespace Web
How long have you been in business? 1.5 years
Age: 35
Location: Atlanta, Georgia
Debt: $300K home
Saving: $12K
Degrees: BA and MFA in Graphic Design
Do you have a partner, family, or anyone else that helps you financially?Â
Husband contributes $120K/yr.
If you do have someone that helps you financially, what does that look like for you?Â
We have a joint everything, no matter who brings what in the bills get paid.
Do you have anyone you need to care for? Children, pets, family members, etc. If so, how many?Â
Two girls under 6yrs old
Are you full-time or part-time in your business? Do you have another job along with this one?
Full-time!
What was your revenue last year (before taxes & expenses)? Â
$180K
How much did you bring home after taxes & expenses last year (profit)?Â
$102K
What's your average monthly revenue (before taxes & expenses)? How much of that do you actually pay yourself?Â
$15K/mo paid myself $8k/mo
How many employees/contractors do you have including yourself? What do they do?Â
I have a VA
How much do you pay your contractors or employees?Â
$160-$300/mo
What are your services and their average price?Â
Custom Brand and Web $8500ish, Intensives $4000ish, Day Rates $1300
How many clients do you take on during a month?Â
3-5
How many hours are you working per week?
25
How often do you take time off during the year? Does this affect your income?Â
I take off when my kids are out of school, so at least 6 weeks a year. We live way below our means so it doesn't make a huge difference.
In the last month, what type of expenses did you have and what did they cost?Â
Mortgage $1800
Biz Expenses $800
Groceries $1000
Childcare $400
Investments $2000
House cleaner $150
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