off topic *** starting a new business

[tysongross]

I've really gotten tired of my current line of work. I make good money but I also put in a lot of hours and the environment I work is dangerous. I dont want my family to be with out a husband/father one day because I choose my work over them.

So im In the process of developing a plan for a new business idea. I do have some savings and Im in a good position to start a small business of some type. My skills are what I would call jack of all trades master of none but ive always succeded in what ive chose to put my mind to.

Im not beyond lawn care or some type of cleaning business and my passion is still for cars/hotrods etc. I enjoy bodywork painting as a hobby.. My question is does anyone have experience or ideas that may be of help. Any small business ideas with low overhead start up cost?

 

[gnxtc2]

What is your current line of work? Knowing this we would be able to guide you better.

Billy T.
gnxtc2@aol.com

 

[TurboTnZ06]

One idea is to just be a consultant in the fields you know. Charge by the value of your knowledge, not by the hour.

 

[Red C5]

I too would like to know what you do and more specifically what your skills are.

 

[HUMBLE-U2]

detailing rides or dent repair. sounds like youre cup of tea.and low overhead too!

 

[Pronto]

detailing rides or dent repair. sounds like youre cup of tea.and low overhead too!

That was my thoughts too or chip repair.

 

[tysongross]

Previous experience... railroad and I want to get as far away from it as I can.

I had really put some thought in dent repair and locksmithing. I know of a locksmith that I plan on taking with to get a better idea of thier work. How hard is it to learn dent repair? I still consider my self a novice in bodywork but I do have some experience.

 

[jasjamz]

You should keep your day job until it gets to the point you are losing money by going there. Now, dent repair is a cool idea cause people hate dings. Detailing is very time consuming so most avoid doing it. I will leave my car to get detailed if I know they do good work. I will agree to dent repair in the same location since its already there. I don't use locksmith services enough to tell you I'd look into it. Sounds like you'd make a better boss than worker. You can get it up and running and oversee how it goes. Expand from there. Again, keep your day job.

 

[DavidM]

One piece of advice that I can give you, perception is everything.
Having a great website with a lot of detail about your customer service/company goes along way.
Now a days everyone has a website and you must be able to social network/Advertise for people to take a chance with you.

Also, being easily accessible is another one. Having your phone number, email address and other company info for people to get in contact with you.

The ability to be able to take different types of payments. Credit Cards, Debit Cards, Checks, Cash.
The Square reader is something that will be able to take payments in form of cards. You will pay a small percentage on every transaction.
https://squareup.com/

 

[bison]

I would not abandon my day job unless I had something lined up. Keep in mind that your day job is currently guaranteed income. You say jack of all trades. That means you are versatile but it doesn't guarantee you will be able to apply that to have constant positive cash flow. You have to consider what you will be doing. You cant just be a jack of all trades. You need to have at least one specialty where you will probably be licensed and have liability insurance. People will ask about it. You will also need to have a lot of capital to work off of. It takes money to make money. It's takes a lot of money to make a lot of money. You need tangible asset to use as collateral or sell if need be. Another thing to consider is that you may go on your own eventually and your business won't show profit for a couple years due to costs of operation. When this happens your buying power is reduced to almost zero since creditors want to know your income and current debt load before giving you a loan. No income means no loan. All these stories you hear about people becoming rich over night is bullchit. Almost all who got to the point where their business is worth a million or more busted their asses for years, didn't take vacations, sacrificed simple things in life, etc to get where they are. Money doesn't make you happy but not having any will make you miserable and stressed out. It takes, money, smarts, and some luck. Without any of the three you will not likely be tremendously successful on your own. The luck part of it really means taking risks. They are smart risks that will more often than not leave you with a big gain. Be sure to have a fall back plan. No plan will leave you screwed. I tell all my friends who have children and mortgages, car payments, etc to get a life insurance policy not only on themselves but their kids also. Would you be able to work if something tragic happened to one of your kids? There is no damage in deep thought. One bad execution could cripple you.

 

[Red C5]

Also, how much do you need to make a month doing it?

 

[rmar]

Rail road is fairly vague still. What was your trade or job...
I recently shut down and sold off my business.... after 10 yrs and went to work for the RR.