Small business owner? What advice do you have?

[ExtraSlow]

Forget making $2500/mo, more likely to lose $2500/mo for the first 4-18 months. Or I did anyway.

[littledan]

I would only ever consider opening a business where the initial capital cost is almost 0, and I can use my own labour as a proof of concept.

For example, car detailing. Buy a pressure washer, polisher, wet extractor, and some supplies and you are pretty much good to go. Or snow shoveling, buy a leaf blower and snow blower and you are up and running.

If I was in your shoes I would legitimately look at doing retail arbitrage. But only because I have a general interest in being a cheap fuck and selling shit.

[dj_rice]

Vape/cannabis store

Or

Affiliate Marketing (always see TikTok videos of some schmuck saying he makes $20k/month and its easy to do sign up here)

Or

Amazon Store Front

[gpomp]

As long as you're working until 8pm you should successful

[pheoxs]

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I would only ever consider opening a business where the initial capital cost is almost 0, and I can use my own labour as a proof of concept.

For example, car detailing. Buy a pressure washer, polisher, wet extractor, and some supplies and you are pretty much good to go. Or snow shoveling, buy a leaf blower and snow blower and you are up and running.

If I was in your shoes I would legitimately look at doing retail arbitrage. But only because I have a general interest in being a cheap fuck and selling shit.

Mobile car detailing could be a good one having knowledge of the automotive realm and forums and such. Plus it's easy to start / stop it if you find a new job and want to do as a side hussle along the way.

[Twin_Cam_Turbo]

Lots to think about thanks everyone. I agree that buying a business in an industry I don’t know much about isn’t likely or the least risky. I’m mulling over a couple things like a side business doing vehicle reconditioning (do a lot of that already at my job) and still looking at jobs in the auto industry. Potentially may be able to get some more schooling done online to make myself look more attractive for other jobs that I don’t overly qualify for now as well.

[flipstah]

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Start a niche service business that you can market online. Avoid capital costs, or ongoing employee costs (so no B+M).

This. labour costs definitely will turn things sour or sudden spike in rent.
@Twin_Cam_Turbo Is your SO crafty? Etsy or those tiny booths at festivals seem to work well. I know a friend that crochets and sells at comic book fairs/etc. and racks up a decent earning in a day.

[dj_rice]

Were you a Service Advisor?

[bjstare]

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Vape/cannabis store

Or

Affiliate Marketing (always see TikTok videos of some schmuck saying he makes $20k/month and its easy to do sign up here)

Lol you can't be serious with these two.

[firebane]

The biggest issue with starting your own business is trying to find that something that isn't so saturated it takes forever to make a name or get anywhere.

My girlfriend started a small business years ago and she was doing good and created a lot of good friendships and sales but as time went on people figured out the product and how to recreate it and competition became fierce and so she decided to stop. She enjoyed doing it, but it became her entire life and gave her almost no free time.

She misses it but mostly because of the people and friendships she made but she doesn't regret her decision.

[haggis88]

MLM

Be your own boss ass bitch

Only capital outlay is a Jeep Patriot and a cheap sticker for your back window

[Twin_Cam_Turbo]

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Were you a Service Advisor?

Yes did that for five years, past eight years I’ve been buying and reconditioning vehicles for export.

[Tik-Tok]

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past eight years I’ve been buying and reconditioning vehicles for export.

Can you do that as a business, or is the bottom dropped out now?

[Twin_Cam_Turbo]

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Can you do that as a business, or is the bottom dropped out now?

It’s extremely slow right now which is why my boss basically told me end of the month I’m done. Unfortunately you need a lot of capital to do it which is why I work for someone who bank rolls it.

[tonytiger55]

OP, its great that you are thinking of your own business.

If its helpful, start networking and being around business owners. I have some extended family members that have opened theirs own businesses this year. One just re-vamped a gas station last week and had a opening.

Many business owners entrepreneurs face challenges in various areas. Being around them might give a idea or they may give you some insights.
Talk to commercial realtors. They will give you some good insights or leads to people they know that might have a cup of tea with you.

[msommers]

Paint your toenails and start an OF.

But seriously, opening a storefront sounds like a major, major pain in the ass logistically and financially.

You know cars. You like cars. Stick in that industry. There must be something that could be offered as a service or optimized in that space that was so routine for you that you didn't think much of it, but now can offer it to bring down someone's cost or take on some form of liability for them.

[Marsh]

Realtor, its best bro

[Team_Mclaren]

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Yes did that for five years, past eight years I’ve been buying and reconditioning vehicles for export.

do u have your ticket? if so, Any dealer would hire a tech. No need to start your own shop etc

[max_boost]

career advice from the world's most interesting man - dos equis guy
- “Find out what it is in life you don't do well and then don't do that thing."


i'm gonna chinese food the rest of my life, the older you get the more you realize how much you suck at other things and no way you can get money out of people
- too short, too old, kinda ugly, not enough charm but in the chinese food world, i'm 4.2 on google ya know so stick to that haha

[ercchry]

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But seriously, opening a storefront sounds like a major, major pain in the ass logistically and financially.

It really is, I am starting to see the appeal of those shitty mls listings to buy some no-name business for $50k… between finding a viable space, change of use, build out… fuck