4.6 • 682 Ratings
🗓️ 16 May 2025
⏱️ 10 minutes
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0:00.0 | Brought to you by the Every Dollar app. Start budgeting for free today. |
0:06.6 | My husband and I started a business here just the end of last year, and we're making pretty good money, |
0:12.7 | but it's not quite enough to make ends meet. And at this point, we've put pretty much everything |
0:18.1 | we have into it. And it has a potential, but we're just trying to figure out some more ways to bring money into the business to try to increase that to make ends meet. |
0:27.3 | What kind of business? |
0:28.9 | It's an indoor baseball training facility. |
0:32.2 | Okay. |
0:32.6 | And you said you've sunk everything into it. |
0:34.6 | What does that mean? |
0:36.1 | Pretty much. |
0:36.8 | We started completely debt-free. |
0:39.1 | We pulled an SBA loan, ended up being about $3.25. We put, we had a very large chunk of money in the bank |
0:47.0 | when we started. Part of that was going towards our security deposit. The other we kept was about |
0:51.6 | $40,000 in the bank. Now we're to the point where we have |
0:55.3 | about $30,000 in credit card debts. We've used my husband's 401k, and our entire savings is put into it as well. |
1:04.9 | There were some factors that came up that we weren't really expecting for, and that money ended up going |
1:09.2 | towards the business. Was the business ever profitable to where you weren't needing to go into debt for it? |
1:15.7 | Well, I mean, well, we're not really behind yet on the business. |
1:21.1 | I mean, the money that we spent on credit cards and stuff was actually to get the business |
1:24.6 | open and started. |
1:26.1 | We've brought in about 52,000 since we |
1:29.1 | opened December, like mid-December. So it's making money, but I mean, our lease payment's |
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