I am currently 29 years old and I own a retail clothing store We are going to be celebrating our first year in business Now on our first months opened, business was booming majority of the money that was made in the first months went directly back in the store for more merchandise and after 3-4 months it started to slow down it slowed down to the point where I had to take out my personal to make sure to get by Overall I know there will be good days and slow days in a retail clothing shop but It seems like there isn’t enough funds leftover and to be able to pay off the suppliers in full I don’t think I am over spending on personal stuff Any tips?
Part of being an entrepreneur is being gritty, doing what it takes to make it and pivoting when you need to. Probably a million ways to cut costs, improve your cash flow and cash position. But how would I know without a p&l or cash flow statement in front of me. But there are also a million ways to drive business in the door or open sale channels (online, wholesale etc) Food for thought