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Post Reply Have you ever wanted to own your own business?
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Posted 1/15/16

Sagenaruto68 wrote:

i want to own my own Anime Store with Maid Cafe.


Open it in Old Town Alexandria so I can hang out there on Saturdays while I'm prepping my Pathfinder game.

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Posted 1/15/16
I'd like to run a Pâtisserie with two catgirls.
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Posted 1/15/16
yup and then i realized how stupid i was being haha
Posted 1/18/16
I wanted to own a cafe too....!
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Posted 1/18/16
Been there, done that.
I wasn't nearly greedy enough.
Posted 1/18/16
Yes, I always thought a small establishment, a coffee shop or bookstore would be nice, something I can pass on.
Posted 1/18/16
I want to own a hotel/ski lodge with a friend, run as much of the logistics and operations possible.

If that doesn't work I want own a themed-cafe ^.^
Posted 1/18/16
I'm always envious of people who live above their own store. I've always wanted something like that.

Sleep, eat, go down to open shop, close shop, go back up, eat, sleep.
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Posted 1/18/16

ComboChrist wrote:

9 out of 10 failure rate. That's a nope for me.


Really?

My sister opened her small business joint up without any problems.
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Posted 1/18/16

Tinamarie101 wrote:

yup and then i realized how stupid i was being haha


why were you being stupid?
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Posted 1/18/16

Ryulightorb wrote:


Tinamarie101 wrote:

yup and then i realized how stupid i was being haha


why were you being stupid?


Cause i dont have what it takes to run a daycare. I had issues just working at one.
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Posted 1/18/16
lol no

way too much work
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20 / M / Bundaberg, Queens...
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Posted 1/18/16

Tinamarie101 wrote:


Ryulightorb wrote:


Tinamarie101 wrote:

yup and then i realized how stupid i was being haha


why were you being stupid?


Cause i dont have what it takes to run a daycare. I had issues just working at one.


Makes sense XD
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Posted 1/18/16
Yes! Hopefully in the food industry.
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Posted 1/18/16 , edited 1/18/16
I've run computer and watch repair business many years ago. I couldn't keep up with the demand and driving to people's homes was tedious. I still worked my primary job and operated the business part-time. I decided to stop when I hired someone I thought I could trust to run the day to day operations and discovered he was stealing money from me. I also got tired of fighting with customers who tried to lowball the negotiated rates after the work was completed.

The second business I stumbled upon. A met a guy who ran a independent car dealer. We became good friends so I negotiated a deal to build him a website and do all his IT work for free if he sponsored me under his dealership to get my dealers license. He did not take any profit from my sales. I got to go with him to the Manheim Auctions to purchase my own cars and sell them. It was good money and I did it part time as I worked my primary job also. He eventually retired and sold the dealership -- I couldn't afford his asking price to buy the dealership from him. So that ended.

I currently work a normal job now and on the weekends I occasionally do IT work for people but I hate it.

I almost won a contract to provide services to a small marketing company that a friend worked for last year. They hired a network administrator from another company who built a crappy network. The one server they used was constantly crashing. The downtime was a week before the lazy admin went to the site to fix any issues. My friend was able schedule a meeting with another friend of mines who is a system admin, and working towards his CCIE and myself to meet with the CEO and CFO of the marketing company and map out a better designed network, server upgrades since they were running Windows server 2000 and hardware and OS upgrades to the desktops the staff were using. Very simple 15 user setup. We negotiated a reasonable rate, my friend and I agreed upon our roles and responsibilities. Everything looked promising until the current network administrator threatened the company that he would not terminate his agreed upon contract without legal courses of action and would improve his services. Needless to say we lost out.

My words of advice would be this, love what you are doing and be passionate about your business. Make sure that you trust your business partner(s), have a good accountant or know how to manage your budget and taxes properly because the IRS will get aggressive very quickly if not paid on time. Research, research and research! Understand your customer base and don't expect to see success overnight. It takes time, patience and persistence. I was afraid of failure and kept my day job as a contingency which limited me a lot, but I wanted to play it safe.

Also LLC insurance is important! You can lose everything you worked for overnight. My friends father sold wheelchairs for over a decade. A women fell out of the wheelchair and sued for 1.2 million. She won $900,000 I believe. My friends father lost his large house, cars and all the money he saved to pay the lawyers and lawsuit. They moved into a family members house and I haven't heard from them since.
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