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Opening a new Espresso Bar, any tips?

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  • #16
    Re: Opening a new Espresso Bar, any tips?

    Originally posted by 1800113D34343737520 link=1248155487/14#14 date=1248528631
    Look at setting up a Pty Ltd
    The ideal structure would be a company/trust structure IMOP.
    All the liability is in the trust, the Pty Ltd company as trustee for the company (but a non trading company) and you as director of the company.
    Essentially, you are in control of everything but OWN nothing.
    Great for tax minimisation also.

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    • #17
      Re: Opening a new Espresso Bar, any tips?

      Originally posted by 7955565354656D3A0 link=1248155487/15#15 date=1248556565
      The ideal structure would be a company/trust structure IMOP.
      All the liability is in the trust, the Pty Ltd company as trustee for the company (but a non trading company) and you as director of the company.
      Essentially, you are in control of everything but OWN nothing.
      Great for tax minimisation also.
      Get your own advice on this each situation is different, as for liabilities that is what insurance is for IMHO. Tax minimisation is an interesting one, with my understanding (better than laymans but not great) there are benefits to both as there are different rules pertaining to both so get some advice. Biggest problem with pty ltd for small companies is the reporting that must be done (pretty time consuming from what I have heard).

      Originally posted by 706879555C5C5F5F3A0 link=1248155487/14#14 date=1248528631
      Adam, do you have any more details about the setup of your business? Youve seen to have gone a bit quiet..
      Further adds to my suspicions this is not a serious idea. (mind you it has helped me with a few ideas)

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      • #18
        Re: Opening a new Espresso Bar, any tips?

        Originally posted by 010F020D1A0C0D630 link=1248155487/16#16 date=1248587518
        Get your own advice on this each situation is different
        Could not agree more

        Originally posted by 010F020D1A0C0D630 link=1248155487/16#16 date=1248587518
        as for liabilities that is what insurance is for IMHO
        Ill put my opinion in here tho.
        That is what insurance is SUPPOSE to be for, not what it can be.

        From someone who use to set up Asset Protection structures but got out of it beacuse of the ummm lets say interesting things that are happening in Aus. Now just interested in my own circumstance, not others.

        Definatly get some good advice, and not just 1 opinion as not everyone has the right knowledge (even tho they tell you they do)

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        • #19
          Re: Opening a new Espresso Bar, any tips?

          I suggest, considering its been a week now with no more posts from Adam, that we leave this topic alone until he comes back.

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          • #20
            Re: Opening a new Espresso Bar, any tips?

            Hi OP can i be a silent partner in your business?

            i have a commercial machine and grinder i can lend you for start up , that can be my capital investment for our partnership. Maybe can throw in a little working cash?

            You just need to open in the Mosman NSW area so that i can walk down for a coffee anytime.

            I am an accountant as well, i can maybe help "cook the books", lets encourage our customers to pay in CASH. That should slim down the high margins of your business plan nicely.

            You thinking of doing food as well? We have to have WIFI so i can look at CS while there

            Dont think i am not serious but i am not keen on long hours of work...........

            Come on OP, where you thinking of opening?

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