247. Why Brick-and-Mortar Retailers Shouldn’t Avoid Profit Because of Taxes

When you’re running a brick-and-mortar business, there’s a fear you probably didn’t expect to have, thanks to taxes: the fear of making more profit. Avoiding profit is not the best financial strategy, and it can actually hurt your business both short-term and long-term.

While I’m going to share WHY this is, I want to also remind you to consult your CPA, financial advisor, and/or bookkeeper for clarification on if you can use this for your business and financial situation.

Listen to episode 247 for tips on how to navigate tax brackets as an indie retail brick-and-mortar business owner and visit www.savvyshopkeeper.com/episode247 for show notes to this episode.

Kathy Cruz is an Independent Retail Coach who helps store owners work smarter, profit more, and grow their brick and mortar businesses. Connect with Kathy and learn more here:

Website & Mastermind Group: Savvy Shopkeeper
Instagram: @savvyshopkeeper

The examples

This podcast really resonated with me, as I’ve been surrounded by people who are in the mindset of not showing too much of a profit because of taxes. This is something I’ve always struggled with because I know that for one, if and when I’m ready to sell my business at any point, I need to show that my business is profitable. And two, if I want to grow. I will need that money to help me get there. I have spent a lot of money over the last few years making improvements to my building, improving, my displays, advertising, etc. I feel that this year will be the year that I don’t spend so much money and then I will actually see a profit and after listening to your podcast, I am not afraid of what that means. I’ve got this :-) thank you so much for this podcast as it also has validated my thoughts and my choices over the last few years.