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Any business owners?

Hawk

By Hawk,
in Huddle Lounge

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Hawk Newbie

Hawk

Posted
Posted

maybe I should already know this, but I don't, so sue me!

any of you own and operate your own business?

If so, would you care to share what it is and if it's profitable?

It's something I've often thought of doing myself, either a resort type thing or a sports bar/restaurant type thing.

My biggest problem is I have a pretty good job, even though I don't enjoy it at all anymore, but the money, benefits, security etc etc is all really good. I'm chicken to walk away.

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Kitten Diver Newbie

Kitten Diver

Posted
Posted

I don't own a company, but I work at a small one that sells/supports software. Great margins in software. High cost for intellectual property and a dvd(or maybe not even that)

If you are doing a restaurant I have heard keep the variety of food needed small to cut down on waste and get cheaper prices.

If you do franchise you will most likely have to start up 2-3 to make the income you do now, but you'll have tax breaks so...

Anything you can get a government grant for is great too. Free money for just a decent(what I hear) business plan..

that's all I got

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Panthro Community Regular

Panthro

Posted
Posted

I'm amazed how much consultants get to give their crappy opinion. I know some people analyze company networks, long distance, and data centers and get a % on the efficiencies they help implement. Save a million take home 100k. Lots of waste out there...

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mr beauxjangles Newbie

mr beauxjangles

Posted
Posted

I co-owned and operated a small business from age 18 - 21. Event promotion, online record store, and physical-location record store. We were profitable but took very minimal salaries and all profits went back into growing the business. It was basically just something to have fun with and learn from while I was young and debaucherous.

I work for a small business now (12 employee consulting firm). I do some consulting work on the side as well, but that's not a huge income stream. Just take things as they come along. Charge a nominal hourly fee. Have considered going out on my own, but like you, have a salary, great benefits, and a fear of being unable to build a sustainable income stream and establish myself at a relatively young age in a very good-old-boy-driven business.

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