Thursday May 15, 2014

Today was a pretty productive day.

 My first order of business today was retrieving my prom dress from Packaging and Receiving.  I have been waiting for my dress for over a month, so it was such a relief to have it and try it on.  (It fits well, except it is far too long.  My mom said that she will get it hemmed over the weekend.)  After trying on my dress, I went to my two classes of the day, Lifeboatmen and Physics.  I still cannot believe that I did not drop physics for my project.  I cannot even remember my justification for keeping it.  I am pretty sure it was so I would understand more of the concepts when I went to college  in case I need to take it again.  But, since I never really understood physics to begin with, it seems silly.  Anyway, aside from classes and my prom dress.  I also had my last Tabor Dance Recital tonight.  It was really sad, since it was my last one for TADC, but I think it was one of the best dance recitals Tabor had ever seen.  Everyone did really well and I am enormously proud of our squad.

After yesterday's budgeting, I realized that I am in debt for each of my 5 years at the end of each year.  My complied debt for the first 5 years is about $596,000.  At first I was totally freaking out, but after talking to my mom and Mr. Meleo, I was feeling better about my debt situation.  They explained to me that I only need to cover the essential costs of that year and the depreciation of my assets.  I also do not need to worry about paying off my loan immediately, as it will most likely be paid of in monthly installments over a period of years.

Although their advice alleviated my worries, I am still not sure weather my business is a viable one the way it is currently set up.  So what I want to talk about is Economics of Scale in businesses.  Economics of Scale is "the cost advantage that arises with an increased amount of profit." (Investopedia)  In other words, the more products I sell, the less the cost per product.  In order for my business to become viable, I must either considerably reduce my costs or I must sell enough oysters to cover my costs.  I am not yet sure which I will be doing.