Back to School Options

[max_boost]

OK Beyond don't troll too hard here but after a lengthy discussion with the parents about the biz I think we are going to pack her in sometime in the next 2-3 years. 2015 marks year 20 and I think we are all kinda tired from the grind.

What are my back to school options for a 35 year old with a SAIT diploma in Marketing? Is that diploma still worth anything or has it expired? Is it still worth a 2 year transfer credit towards a 4 year program?

I need to do something and to make money for survival and compete against you Haskayne 21 year old kids for an entry level job However I have no desire to climb the corporate ladder or anything like that.

Say goodbye to the cushy family job working but at least I don't have to work 70 hours a week anymore.

I have some interest in finance, insurance, and maybe accounting. I really dislike accounting but they never seem to be unemployed.

TIA for helping a guy who has never had a real interview, job or boss.

[rob the knob]

your real world experience has much more value compare to school for two year for degree

what you want to do

i am sure you have good connection from job now. you seem like nice guy.

[kaput]

.

[ExtraSlow]

Max, first you have to figure out what skills you have that make you stand out, and what you really like to do.

Then figure out what careers can make use of those things.

You're a smart, successful guy, and a hard worker, but none of that will matter if you attempt something that you are poorly suited for.

Good luck bro.

[HiTempguy1]

If the business your family runs makes money, buy it off the parents?

Why stop a good thing?

[ercchry]

I dunno how you will be able to do it, thats going to be a solid 10 year plan to get you back to where you are now... you have some cash... put it to work. you know your industry inside and out, have suppliers, contacts, day to day operation knowledge. I'd say leverage what you know. Partner with some people that want to open their own restaurants and be the money guy and back end. Let them handle the 70hr weeks and just collect the cash for years to come

[Cos]

.

[A790]

Sam, your first step will be to establish what it is you actually want to do. There's no point in going back to school if you haven't determined that- it will be a waste of your time and money, believe me!

Look at what you've been doing for 20 years and establish the proficiencies you've developed. Have you learned bookkeeping? Marketing? Customer service? HR? Etc. Determining what you've already been doing will go a long way in helping you determine what you want to be doing in the future.

When I looked back at my Jacqueline Suzanne & Netfreak days, I realized that what I enjoyed most was strategy planning and developing my staff. Being in a small business doing those things was empowering because it was up to my to plan and execute, whereas when I managed a team of sales people at YPG it wasn't nearly as fulfilling because I was basically a small cog a midst a torrent of cogs.

Ultimately, I decided that going back to school wasn't something I was interested in. I didn't see the value in it as I had no desire to go into some kind of profession that was specialized. Instead, I leveraged what I had already learned through practical experience and forged my own path. That was right for me. It may not be right for you.

But, regardless, it all starts with you figuring out what you want to do next. Everything else will fall into place once that building block is laid

[FraserB]

Import a seacan of TFWs and let them run the business for you?

[Tik-Tok]

Originally posted by HiTempguy1
If the business your family runs makes money, buy it off the parents?

Why stop a good thing?

This.

Originally posted by FraserB
Import a seacan of TFWs and let them run the business for you?

And kind of this.

Take over the business, but learn how to properly manage and delegate so you personally don't have to be there 70 hours a week.

[BrknFngrs]

Originally posted by Tik-Tok
Take over the business, but learn how to properly manage and delegate so you personally don't have to be there 70 hours a week.

Definitely agree with this.

[TYMSMNY]

Learn the kitchen in the next 2 years. No need to master it but you'll need to know enough so that the cooks aren't going to mess with you. Go to SAIT for basic culinary classes to get the flow going.

Tell your parents that you want to take over at the end. You'll want your parents support on this as it'll help with the new lease negotiations (20 years experience)

Negotiate with the LL for a 5+5 lease about 1-1.5 years away from the end of the current lease.

etc etc. (many finer points in between but you get the point)

Hire staff, create system. Hands off business with little imput.

Profit.


or

You could help TomcoPDR grow his business into a Billion $ company.

[benyl]

Clearly, all of you who are suggesting he take over have never run a restaurant. It isn't as simple as you make it out to be.

If you can get out, GTFO. I left my restaurant days years ago and never, ever want to go back. Sure, walking around with $3-5k in cash in my pocket all the time was cool, but there is no life in work-life balance when running a restaurant.

Hands free? BS. Trust no one. They will steal from you. Even if you give them equity in the business, they will steal from you. You can put up cameras and cash controls. They will steal fucking $80 blocks of cheese and sell them on kijiji.

I can't help with school suggestions, but I can definitely tell you to GTFO.

[TYMSMNY]

I've always calculated an extra point for miscellaneous loss in terms of food cost. You bring home food, you feed the staff, $80 block of shrimp.

If you can't count on the manager that you've hired then you've got poor hiring skills. You've hired him so that you yourself can have time to do other things. Do the books, make deposits, shoot the shit, play hockey at noon, go snowboarding for the weekend. etc. That or one could stay locked up in the restaurant and then complain about no life and not lose $80 in shrimp to bubba gump.

Depends on what you want to do with your time. Pay someone so you can have yours, or spend it all at the restaurant. If you spend all that time at the restaurant, how will you ever open up #2, #3 locations?

[A790]

Originally posted by benyl
Clearly, all of you who are suggesting he take over have never run a restaurant. It isn't as simple as you make it out to be.

If you can get out, GTFO. I left my restaurant days years ago and never, ever want to go back. Sure, walking around with $3-5k in cash in my pocket all the time was cool, but there is no life in work-life balance when running a restaurant.

Hands free? BS. Trust no one. They will steal from you. Even if you give them equity in the business, they will steal from you. You can put up cameras and cash controls. They will steal fucking $80 blocks of cheese and sell them on kijiji.

I can't help with school suggestions, but I can definitely tell you to GTFO.

This. Holy fuck are you bang on.

[max_boost]

I'm trying to make this decision in the best interest for myself and without money being the deciding factor. The more I think about it, the more complicated it can get. I'm not sure if I'm undervaluing or overvaluing my contribution, skills/ability and the people around me etc.

I have a 50% stake in the business. Depending on the valuation and selling price, I am going to walk away with a decent amount of money. Financially I will be strong and I am grateful. I will have choices and opportunities. This first career just fell on my lap and while it was confusing at times growing up I would not change it for anything. I just can't believe it will be 20 years this summer!

Those of you have been in the mom/pop business know how difficult it is to challenge the old school mentality. That has been my struggle working with my parents all this time. I am objective when I say while we are profitable we have fallen behind the times a bit. Due to language issues, comfort with technology, inability to recognize and accept changes in consumer expectations, we are sort of stuck (or I feel stuck). With that said, I can think of a few options:

1. Sell and move on
2. Buy them out and run it my way.
3. Bring in a new partner, new set of eyes and revamp things but we know how partnerships can end up.

At this stage in my life (and man I feel old for wording it like that), it's more about wealth preservation than growth and risk. I would be happy with a $75K job and free weekends/holidays.

Thanks Beyond for the kind/motivating words.

[sneek]

Originally posted by benyl
Clearly, all of you who are suggesting he take over have never run a restaurant. It isn't as simple as you make it out to be.

If you can get out, GTFO. I left my restaurant days years ago and never, ever want to go back. Sure, walking around with $3-5k in cash in my pocket all the time was cool, but there is no life in work-life balance when running a restaurant.

Hands free? BS. Trust no one. They will steal from you. Even if you give them equity in the business, they will steal from you. You can put up cameras and cash controls. They will steal fucking $80 blocks of cheese and sell them on kijiji.

I can't help with school suggestions, but I can definitely tell you to GTFO.

My extended family owns a restaurant and it consumes their life. They have lots of money but they are working 70+ hour weeks in their 70's. Restaurant life isn't for people who want work life balance.

[TomcoPDR]

Originally posted by TYMSMNY


You could help TomcoPDR grow his business into a Billion $ company.

Funny thing is, I should be the one making this type of post.

The food, accounting, tax, prostitution are all timeless industries. (mine isn't; I'm just temporarily capturing on labour starved Canada; in an unproven industry)

I wasn't gonna comment in this thread, since I know a lot more privileged information than the average Beyonder on Max-Boost's situation (don't want to breach his privacy on income/figures/etc); being that I've attended a lot of his life lessons sessions.

But, a lot of good points, and good brain storming. So for the sake of contributing, for others to use as reference. I just got to becareful not revealing into his personal info.

The thing is, while Maxboost didn't purposely type it that way, but imho it's a "loaded thread". Because his key factors are "I need to go to school/what course, so that I can learn a new skill, to make survival money"

Learning/new classes/school is about gaining new experience, and that comes with a COST (money, time, efforts)

Survival is about maintenance, economy of scale. (do exact same thing enough you get faster better, etc... buy in enough volume, cheaper)

It's like being a successful fisherman in the village, and all of a sudden wanna be a rabbit hunter "just for survival"

Are you looking for a career change? OR are you looking for survival money?

It might seem like an insult, but based on the survival angle, just gonna state something "stupid" here. So it's fine that the family wants to pack her in (cash out, sell business for equity $); but if you're using survival, then why not throw out some resumes to Asian buffet, Buffet yangtze, Ginger beef, etc... and use your family restaurant learned knowledge skills but work only 40 hours weekly, clock in clock out. (this is like a small town mechanic or bodyman where dad or grandpa had a small shop; but now it's 2015 and it's all about big corporations; so the highly skilled 36 year old grandson journeyman just goes and gets a job at the local big corp. dealership/nationwide bodyshop chain)... so that's the survival angle from what you're asking; cause there's a demand of the tasks that you're professional at, that other restaurants can and will hire for. (so are you ok with that wage?) And also, imho the word "survival" angle, you shouldn't need school/training for "survival jobs"

Not making fun of you... just saying how I view it as a loaded thread.

Ok, so going off to the schooling angle. (you want to learn something, start completely different career)... As already suggested, be prepare to spend time/money before you build the economy of scale in the industry. (schooling time 2-3 years, plus being bitch boy 2-3 years before you can have that "I've been here for a few years you noob" attitude)

If you're going the school route, it's the slingshot effect, you must pull back before you launch forward. (if all goes well) the further you pulled back, the further you move forward... and if you do half ass (not pull back enough), you won't even get anywhere (i.e. wasted degrees not finishing school properly, like you, I'm SAIT diploma too; never "used")

[J-D]

Originally posted by max_boost

Say goodbye to the cushy family job working but at least I don't have to work 70 hours a week anymore.

I have some interest in finance, insurance, and maybe accounting. I really dislike accounting but they never seem to be unemployed.

TIA for helping a guy who has never had a real interview, job or boss.

The only advice I have is to not pursue something you dislike. There are a lot of things to consider - e.g. with Accounting or Finance... school doesn't end after you get your degree.

[flipstah]

Usually, someone who's their own boss has a harder time transitioning to do a desk job.

Personally, I'd utilize your restaurant knowledge and work in the food distribution industry (GFS, Sysco, etc.) You can be a sales rep and pick up orders for businesses or predict pricing based on market trends, etc. You can maybe become a business consultant to help future restaurant owners and guide them to success.

You have 20 years in your pocket. Worth way more than a piece of paper IMO and I have a degree.