1. No. Not stuck nor do I have to make an Immediate decision.IMHO:
1) You’re not stuck anywhere, are you?
2) Don’t go into business with coworkers, it’s a recipe for disaster.
3) Don’t go in business for yourself just yet. Learn more about business.
4) Don’t rush into a decision.
5) I have a relative who’s about the same age, with a similar skill set. He got a job with the local school district as a Tech. But he does more than just wrench. He wrenches on buses, cars, trucks, mowers, snow removal equipment. Travels all over the small town doing stuff for the school district. He’s doing fantastic. Pretty good pay, great benefits.
So you may want to consider a school district, city maintenance job, university work, etc.
6) At some point, it’s extremely healthy for you to work for different businesses. Working for the same company for your whole life is a mistake.
7) Iowa is a beautiful state with wonderful people. People in Iowa have produced some of America’s greatest products.
Questions:
1) You don’t have to take any of these options right now, do you?
2) Are you married? Children? Mortgage? School payments? Car payments?
3) Where do you wanna be in 5 years? 10 years? 20 years? Etc.
4) What do you enjoy doing in your spare time (hobby/hobbies)?
5) When do you want to retire?
6) How’s your body holding up? Will it be good in 30 years?
1. No. Not stuck nor do I have to make an Immediate decision.
2. Married. No kids, or plans for any. Mortgage on a beautiful 3 acre acreage. Student loans and a truck that'll be paid off in a few months.
3. I have no major goals. I just want to live a comfortable life and enjoy my cars.
4. I'm a red blooded American. Guns. Cars. Hunting. Wildcard, coins.
5. As soon as possible.
6. Holding up well. I think I'll be fine in 30. anything can happen, thats the wildcard.
I do have a wildcard option that is a possibility. Im still close with my college professors, and they have mentioned the local community college has talked about opening entry level auto/diesel classes at their smaller branches. I'm not holding my breath, BUT it is a possibility.
Things change, moods change, egos change, and if you have a partner, it can go completely sideways, but your stuck in the business. I have seen it several times, with friends. About 2 years ago, our youngest son started a landscape biz (he was 17). He started with his friend as a "partner". The biz has expanded to the volume he needed to go legit (LLC taxes etc). I told him, do not partner. So he didnt, and set everything up on his own. Its only been a year, and already he is happy that he doent have a partner. Heck, even a marriage is a partnership, many work, many do not.@specracer
@1Kona_Venom
@Blown 89
@DSG2003Mach1
@Weather Man
Why are all of you against the partner/ownership option? Presuming this advice is based on personal experience, perhaps you can share.
He’s relatively young and his goals will change with time. He will not be able to wrench forever and enjoy retirement as an able bodied person.
All coworkers. All already employed together.I would suggest you buy the business and hire the friend.
I have been self employed for 10 years now and there is nothing better in this life than being your own boss. You'll work your ass to the bone, but at the end of every day, it feels sooooo different and better.
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@specracer
@1Kona_Venom
@Blown 89
@DSG2003Mach1
@Weather Man
Why are all of you against the partner/ownership option? Presuming this advice is based on personal experience, perhaps you can share.
He’s relatively young and his goals will change with time. He will not be able to wrench forever and enjoy retirement as an able bodied person.
I ALMOST did the same thing. I pulled out at the last minute but still got left holding the bag.I went into business with a friend once.
We're not friends any longer.
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