Let’s talk finances…
I can’t figure it out, is LER actually profitable? Was closing the store a sign of success or struggle? I can’t figure it out.
She’s constantly wasting money on take out and new books. Plus kurt not working. Are these people millionaires? Or just living a life of credit?
at least Ashy / Sarahs Day / Skye Wheatly seem to be investing in Real Estate and property development. It seems like kieara got lucky purchasing her home young and for cheap but she’s not done anything else since. Surely this is a sign they aren’t as cashed up as they try to make out.
what does everyone else think???
I would say yes it’s profitable. I don’t believe it’s earning that much money.
Kurt could be earning $100k+ at his old job but I also suspect Kurt’s wage was used to start the business and finance it initially.
If I had to guess, id say the home has been re mortgaged to allow for cars to be purchased etc and are probably still being paid off via a small loan. Same as the renovations, they mentioned needing bank appointments for that so it’s likely a small loan. However their house is worth over a million dollars and I would imagine their loans don’t total more than $500k, so they could easily use the equity in their current home to get a second property and set it up as an investment.
as for free flowing cash, I don’t think there is much. You can tell in their hobbies and spending habits that they aren’t “rich”.
I would say they are still earning/paying Kurt’s wage from LER, and I imagine his wage would have to be $75k+ for him to have quit plumbing. And Spesh K probably pays herself a small wage of maybe $25k out of the business as well.
However once wages have been paid, I can’t imagine LER has much profit left over. I think before they did the active line it was probably doing well but she would have burned through chunks of cash launching it and it has failed like most of her projects.
i used to look at or take notice of how often she would post about repairing another cleft. Because that’s every 250 orders. Sometimes it would be months between cleft repairs.
this comment is all over the shop because I’ve rushed it but I’m interested to hear what you all think.
