This series will show how difficult it is to do business in
Michigan. Business taxes are high and competition is fierce. The
economy is poor. Not many firms make a profit. Many small business
dreams are CRUSHED here.
"If you can make it in Michigan, you can make it anywhere!"
This first cache will take you to two buisnesses that failed side
by side. They are across the street. I could not place the cache
closer due to a puzzle cache area.
Figures are best estimates.
When you add more costs like Heat/ Water/ Electric/ Insurances~
Liability insurance and Fire insurance,
Legal, Accounting/ book keeping, building upkeep and the largest
cost: employee wages! (ALL NOT shown here.)
You can see how hard it is to do business here.
The Bike City Store:
Small Mom & Pop bike store. Closed due to declining sales
because of sales lost to Large Chain Stores. Losses mounted and the
owners lost their savings. Their life dream was to own a quality
bike store.
Business Life: 21 years
Closed: 6 Years Ago
Employed: 2 Full time/ 3 Part Time Workers
Estimated Annual Sales: $220,000 Best year!
Property Taxes: $3000.00
Sales Taxes: $11,000 (Some Labor not taxed)
Unemployment/ Soc Security/ Workers Comp Taxes: $9,0000
MI Small Business Taxes: $5,000.00
Federal Taxes: $12,000.00
Michigan Tax: $4500.00
The Lumber Yard:
There are not many family run lumber yards left in Michigan. This
was a large 12,000 Square Foot warehouse full of lumber, roofing,
edging, paints, stains, and hardware. Closed due to declining sales
lost to large nation wide stores and at the time, Builders Square.
(Also, out of business.) They had losses the last 4 years they were
open and the economy was getting worse. No Hope!
Business Life: 18 Years
Closed 13 Years Ago
Employed: 12
Estimated Annual Sales: $1,200,000.00
Property Taxes: $19,000.00
Sales Taxes: $60,000.00 (Some Wholesale Accounts)
Unemployment/Soc Security/ Workers Comp Taxes: $33,000.00
MI Small Business Taxes: $31,000.00
Federal Taxes: $27,000.00
Michigan Tax: $19,000.00
Heating costs were HIGH in this old, poorly insulated building. The
average heating bill here was $1800.00 / month.
The cache is a small test tube thingy and a log to sign. You
must sign the log for credit on this cache. The first three finders
will have their names listed here as Fastest Cachers in this
Region!
- First To Find: mmc881, Jan 9th, 2012, 4813 Finds!
- Second To Find: The Ant Farm, Jan 9th, 1860 Finds!
- Third To Find: SpartyParty, Jan 9th, 2012, 289
Finds!