Hijacking thread for a moment... Follow up question: What do you need to do to start your own business such as a retail store?

 

.see below

 

I worked in a corporate environment for most of my adult life traveled extensively for ten years blew through relationships and lived on adrenalin - bought a house as an investment while traveling moved my mother into it to give her a nice place to live and a couple of years later she took ill and passed away, I was lucky to be by her side as I was in Canada and barely made it home to say goodbye - when she died it was the first time us kids were together in over 17 years. It really broke me and two months later I turned in my resignation and bought a puppy and a waverunner and spent some quality time by myself at the beach , Me and my pup sat on my waverunner in the middle of the Indian river watching manatees and dolphins swim right next to us and I did this on and off for a few months - blew through my savings and started my own renovation business so I could work by myself at my own pace and I worked just enough to pay my bills and it has been the best thing I have done in my life - that was two years ago and I am about to get my Contractors License and I have several accounts here in town and do good for myself

I don't make nearly what I used to (yet) but I can honestly say that this was the best decision I have ever made in my life - this is all mine and I really like what I do! I still have my waverunner and I still visit the beach with my Puppy (see avatar)

Sorry for the corny story!

 

[QUOTE]Originally posted by Patdeisa
Hijacking thread for a moment...

 

retail is definitely a different kettle of fish when it comes to owning ur own business, ESPECIALLY if u r in a shopping centre, because although u have the advantage of increased traffic flow, if it is a quality centre, u also suffer the exorbitant rent that they charge.
moreover, being in retail, in shopping centres, and even in strips, means a lot of hours, up to and over 60 hours a week, because unlike other businesses, such as consulting, building, IT, u always have to open, often 7 days a week, and late night trading as well.
for retailing, it depends onwhat u want to do, if u r not creative, then buy a franchise, it is the easiest way, but after a few years, u will realise that u r simply working for the company, that is why u take a franchise concept and put a twist to it that is ur own, easier said than done though
my background is of course food retail in shopping centres, been doing it for over 10years. money is good i guess, i do what i want, i get free food, but i work every day, its a trade off

 

About 10 years ago I was the Facilities Maintenance Manager/Director of Engineering for a Hotel. The owner came in and had a snit when I wouldn't kiss her ass. Gave the GM of the hotel my keys and said good bye. Went out got my builder's license and specialize in kitchen and bath remodeling. The hard part was starting a business when you are 43. You don't have the liberty to fail, like you do when you are 23.
The advantages are that I only answer to my clients, who generally aren't home when I am working in their house. I work the hours I want to. The tax advantages are ok.

 

My family is in the grocery business also. 18,000 sq ft anchor tenant in a strip center. 80' of meat counter combo self service and service. 100' of produce + dry rack floor displays. Tortilla factory and hot food deli. I am the meat dept manager/buyer. At it for 30 years now. I started as a bottle boy and stocked milk, beer and soda starting at the age of 14. I am now 45. The hours! You have to live there. Holidays and weekends. When everybody else is with their family and partying, you have to work. It's the nature of the business. It seems like there is always a trade off. Yes it's good but when it's bad it's real bad. Earthquakes suck in grocery stores. Rent and PGE are such huge factors anymore. Didn't used to be that way. Labor and finding reliable workers is damn near impossible. Everybody wants a paycheck but doesn't want to show up, work weekends, nights or holidays. I'm thinking of starting my own convenience store with no or very few employees or getting back into Real Estate. I did that for awhile on the side and as stated above, you do a lot of phone answering/secretarial duties and the bulk of the commission goes to the house. Think I'll get my brokers and do it on my own.

 

[QUOTE]Originally posted by Scot
About 9 years ago my wife worked for a mortgage broker company out of our house making 20% of what she closed.