Guide me

[Lucas]

I am at a point in my life that I am unsure of which direction to go. So, I'm turning to you all for guidance, that will probably have little to no bearing on my choices.

I'm considering a change of employment over the next year or two. Time frame is obviously flexible. I have a decent job now, great benefits, but low pay. The provided insurance and retirement package are the main reasons I took the job. The low pay and working on the same equipment day in and day out are the major things I loathe about the job.

So, choice number 1 is stay at the current place of employment.

Choice number 2 would be to open my own general repair shop. I have a commercial frontage garage and lots of tools and knowledge. I could become a dealer for one brand of lawn/farm equipment or another. I have thought of doing this for years. I just haven't felt that the timing was right before.

Choice number 3 is a safe way to go, but leads to long days, and odd hours for customers. Keep my current job, and run my own garage after hours and on weekends.

Choice number 4 is also something I have been considering for a few years. Use the garage building, get an FFL, open up my own gun shop. This could possibly be the most problematic option for me. Getting the license, starting the customer base and such could be a major hassle. I could also sell my leather goods at such a shop, and having guns in stock would make my options for holsters nearly limitless.

Choice number 5 is another "safe" way. Retain my current employment and open a gun shop with evening/weekend hours. Still have all the hassles of option 4, but have steady income and health and life insurance paid by my current employer.

[dman]

I to have made this choice myself.I do work long days.nights,weekends,and even some holidays.I have'nt had many vacations,you live by the phone or shop.
I started building my own bussiness while working a full time job.I TOOK YEARS!
I love what I do for a living,it's a passion and if I didn't do it for myself,I'd be doing it for someone else for a lot less money.
Don't let fear be the decideing factor,no pain,no gain,but also,know exactly what you must do to succeed.These are tough times.Do your homework,your footwork,go public and legal !
People that have never failed,have never ventured far from the comfort zone,normalicy.I find normal stagnent and boring but I ain't normal!!!
You're young,plan well,know and understand the sacrafices needed,then choose but don't just walk away from your job just yet.One step at a time,you'll get there!!!!!!!!

It's tough but I wouldn't have it anyother way!!!!!!!

[Plinker]

Choice number 2 would be to open my own general repair shop. I have a commercial frontage garage and lots of tools and knowledge. I could become a dealer for one brand of lawn/farm equipment or another. I have thought of doing this for years.

Choice number 3 is a safe way to go, but leads to long days, and odd hours for customers. Keep my current job, and run my own garage after hours and on weekends.


Choice number 5 is another "safe" way. Retain my current employment ... but have steady income and health and life insurance paid by my current employer.

Lucas,
I like parts of each 2, 3 and 5. I'd keep the current job going to keep an income and benefits coming and do the nights and weekends for only as long as it takes to get a decent customer base developed. Your gift of mechanical skills will get you started on your way to meet your goals financially alot quicker than doing the leather work. In this economy, you'd be filling a NEED by fixing things for people. The leatherwork, which by the way, you ARE quite good at from the pics I see, is really a WANT more than a need, from customer point of view. And guns, well most of us always want, but then there's the"should I buy a gun or get the mower fixed" thing.In the lean times they'll put off the "wants" to a later time and take care of the needs. Whatever you decide, I wish you much success.

Plinker

[Atomic Dog]

Lucas, do what your heart tells you. But if you open a business make sure you don't make over 250k



My honest opinion is hang on to your current job for the benefits, they are very expensive as a small business owner. And do what you need to do on the side. You have true talent with leather, that could provide extra income but it's a good bit of work. Perhaps have an assembly line. Stick to a few models of gun and make a few more "semi-custom", have the basic holster shape and have people change colors and dies, or add some tooling but keep the same patterns.

Couldn't hurt.




Follow your heart!

[DCChris]

I'd get out of the current job no matter what if you hate it that much. As for what to do, what about a sort of hybrid idea. How about a kind of general store idea. Start off with the repair business. Once that gets somewhat established, expand to your guns and accessories.

[Kimba]

I say stick with your current job for security and bennies. Pursue the mechanical end or gun selling on nights and weekends until you get a name going for yourself. I would not do both, mechanical and guns, it would spread you too thin and one or the other would suffer. Unless of course it's the mechanics of guns. A gun dealer and a gunsmith all rolled into one.

Research is your friend, you should never enter into a business blindly, know your market and what it will support. Have a business strategy and don't be afraid to ask advice from other small business owners. Be willing to look at things objectively and be able to decide how much time you are willing to give your new enterprise to take hold or when to throw in the towel.

You are young enough to take a few chances that you might not want to take if you were older.

[Willtallica]

Pretty soon I won't be able to afford to sleep, and I can't even get a job at mcdonalds, or pizza hut. Well the point is if I'm not a complete loser, and the job market really is very difficult you may find yourself down in a shit hole without anyway out of if so therefore maybe you should reconsider keeping your job at all cost, but unless I'm a complete loser.

[LittleRedToyota]

only you can really know what is right for you to do.

as someone who has been sacrificing the security of a regular job to run my own business...and staying afloat but not yet hitting it big...for over a decade, all i can say is take the advice of others with a grain of salt. most people are risk adverse and value security over opportunity.

only a small percentage of the population have the personality to take the risk to start their own business...especially if doing so means leaving behind the security of a regular job. those who do not have that personality don't "get it" and will give you advice based on their values and priorities rather than yours. but only you can really know what you want and what you are willing to risk to try to get it.

my advice is to go for it...and not half-arsed, but full out (that may or may not mean quitting your current job). but, that is based on my own priorities and risk tolerance...again, only you can really know your own.

(none of this should be taken as any kind of value judgement...just observations.)

you should realize, though, that statistically, the chances of a small business being successful are not good. you do need to be honest with yourself in making the decision. but, if you can stare that reality in the face and still know you want to do it, then you probably should do it.

time for some honest soul-searching...

[NineseveN]

I'd take some more time while the economy is in the dumps, invest as much as you can in your 401k is you have one, and really come up with a solid business plan with exactly what you want to do. When the indications of an economic return to stability and ultimately growth start to show, you'll have a plan and hopefully a few bucks set aside. You can't really get a business loan or incorporate without a business plan of some sort anyway, and the better and more refined your plan is, the easier those two things will be.

Just my 2 shillings.

[PA Rifleman]

I am at a point in my life that I am unsure of which direction to go. ...

So, choice number 1 is stay at the current place of employment.

Choice number 2 would be to open my own general repair shop. ...

Choice number 3 is ...Keep my current job, and run my own garage after hours and on weekends.

Choice number 4 is ...get an FFL, open up my own gun shop.

Choice number 5 is .. Retain my current employment and open a gun shop with evening/weekend hours. ....

Possible considerations and ruminations:
1. This is the safest, and a critical element to keep particularly if you plan to get married. This would be better described as a "must keep". BTW, a successful pregnancy will run into the thousands.

2. Workable, but has a few challenges. First, you'll become direct competition from your former shop, who already has an established name. Is there a need in your locale for another shop? Who is your target market? Also note any benefits & insurance will come directly out of your pocket, or the insurance plan will. Don't forget you'll be responsible for all startup costs, or responsibility for loans and restitution if it fails.

3. This will work until word gets back to your current employer and they realize you're a threat to their revenue stream. If your current employer interprets your weekend/evening operation as unwanted competition, your current employer will likely ask you cease & desist or depart. Some companies have this in writing as a "non-competitive" clause, and is a term of continued employment.

4. Very similar to 2, except your operating in a different market. Guns are largely discretionary, mowers are a little more pragmatic. Again, the same questions: what is your market, and is it big enough to support you, your family and still replace the benefits you currently have? Unless you have a fairly large shop, the answer might not be favorable.

5. This is probably your best bet, as it's a business your present employer won't regard this as a threat to their revenue stream, and as long as you keep your initial investment low won't have a major impact on your life if it fails. You should have a separate business location from your dwelling and get insurance & a security system. If these were my options, I'd go with 5.