🤔 What Are We Thinking? Week 26, 2022 🧐
We see this economic downturn as having opportunity on the other side. We believe there will be a pivot and another Fed put coming and, if that's the case, that $10k in fiat could be useful at that time.
By: Mitch Wooderson
Tuckedito
🤨 💭 Decisions, Decisions, Decisions
What do we do on a weekly basis? Well ... it changes each every week.
Kitchen
👶🏻 New this Week
Fix the prep table
These bolt fell off the screw and the brake fell off. Now we need to do a little bit of maintenance. Time to get out the tool box!
This is what we're going for 👇🏻
Cart Meeting
Looks like it's going to be happening. We went over the design together with Erion at American Mobile Vending.
He builds food carts from scratch so we get to fully customize it. We went through pricing and now know what we'll need for a deposit.
He's going to CAD it out and sent us a blueprint next week.
🕰 Updates from Past Weeks
Financial
👶🏻 New this Week
Meetings:
Credit
We will likely take out a loan to finance half or more of the cart payment and half or more of the truck payment cart. We wanted to see what the process of securing a loan would be like, what would interest rates be, what would the pay off period look like.
Some notes I jotted down
That's a high interest rate. We both have good credit, but being a new business, along with where the economy stands, now's not the time to get a low interest rate.
With that being said.... We need to do a discounted cashflow analysis and see if we put $10k less down, what would we need as a return on investment? Can we beat the interest rate and inflation?
We see this economic downturn as having opportunity on the other side. We believe there will be a pivot and another Fed put coming and, if that's the case, that $10k in fiat could be useful at that time.
Tax
We just asked some general questions about how we should pay ourselves, amortization, what we can and can't expense, etc.
🕰 Updates from Past Weeks
Marketing
👶🏻 New this Week
Instagram Polls
Trying to make the instagram a little more interactive. So we're starting to do some polls.
🕰 Updates from Past Weeks
Until Next Time...
Make sure you check out future posts! If we come to any decisions we will include the how, why, and what for!