Would you be a small business owner?

Discussion in 'General Chat' started by cap.toon, Aug 2, 2019.

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  1. cap.toon

    cap.toon Well-Known Member

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    Would you? What industry would it be?

    What kind of problem would you expect or could be facing in your industry of choice?

    If not, why?

    Personally, being a small business myself, making money depends highly on your industry. In my industry, I may never be able to pay my workers above the minimum wage and provide them benefits at the same times.

    If I expand my business, I’ll need to hire a accountant to deal with record-keeping and tax-filing or the finance aspect of it. Etc
     
  2. MaliMi

    MaliMi The Cookie Guardian

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    I am not sure about being a business owner. It seems nice, but too much responsibility. Btw. what industry are you in?
     
  3. Deleted member 155674

    Deleted member 155674 Guest

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    I don't know, but worrying too much about it might be bad if you plan to start a small business not that I am saying that one shouldn't take precautions but just don't overthink things when it comes to starting some business
     
  4. totagamer11

    totagamer11 mofu-mofu master

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    It's getting tougher out there and i think even sbo need high level college degree. Sorry all you home business ownets. Well i only have that train of thought cause i live in s big city. Most small family grocery stores are gone. Alot of of big name ones have disappeared too. Plenty of all glass high end stores with condos on top were built. Alot of aldis were remade this way too. House taxes rising pushing low income families out. I grew up in my house and have no idea where to move if i have to. Oops guess i got off topic sorry. Well study hard cause first it was high school soon even a basic college degree wont cut it anymore. But yea hard on everyone but especially sbos cause they're in a world that has a established food chain and the weak are mercilessly cut down.
     
    Last edited: Aug 2, 2019
  5. kfahad

    kfahad 『The Lurker Beast』『Beast fallen』

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    I want to something like that but I don't have any idea what is good business in my place. Our place is like urban undeveloped place.
    What do you recommend?
     
  6. Gitami

    Gitami Well-Known Member

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    It's harsh, sister is a dentist and made the mistake of owing a clinic through purchasing a business. Basically became a boss over a bunch of strangers who are much more interested in wheedling money out of her. She's located in a state where there aren't enough job applicants so the ball is in their hands.
     
  7. UnGrave

    UnGrave ななひ~^^

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    No. Way too much hassle for too little reward. The best thing to do is be a section manager of a larger business that gives you lots of freedom as long as you give them results. You're all by yourself as a small business owner, but if your boss likes you in a corporation (even if it's not a mega corporation) you can sit back and enjoy the ride.

    Please note that every situation is different and I'm only talking about my ideals here. Being a manager at McDonald's or Walmart sucks, but being a friend of the owner in a regional engineering firm has done my family well. Do what your heart tells you.
     
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  8. TamaSaga

    TamaSaga Well-Known Member

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    They need a lot of effort but at least I'm in a field that has low startup costs and high demand (programming consultant)
     
  9. Kaiser Megami

    Kaiser Megami Well-Known Member

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    I want to be.

    I am currently asking for approval from both the parent company and location in order to start a franchise.

    I am unsure about the royalty fee and stuff.
     
  10. fteg123

    fteg123 Well-Known Member

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    I don't know anything about business but I know someone who does and she uses her everyday expenses as a business expense so it is tax deductible -- something as a positive
     
  11. aegis062

    aegis062 Chaotic Demon Emperor

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    most business owner make or have their own management so they don't have to run their business they just look at the numbers same for big businesses and investors. they only look at numbers and results and have their management do all the work.
     
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  12. lychee

    lychee [- slightly morbid fruit -] ❀[ 恋爱? ]❀

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    The downside of this is that if the business goes bankrupt, it eats into your own personal savings if you haven’t separated the business from your personal account.

    It’s possible to protect yourself by incorporating your business, but then the expenditures are scrutinized much more carefully and it’s harder to get away with spending business money for personal things — in fact, it’s kind of illegal because it counts as stealing from the business, even if you are the owner. ^^
     
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  13. Wujigege

    Wujigege *Christian*SIMP*Comedian

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    That's much better than starting a business from scratch.
    It always looks easier from the outside in.
    What might work in one town might not work in another.
    People don't do enough research and feasibility studies and underestimate the power and cost of marketing.
    Your soda might be the most healthy soda but just as Pepsi learnt the hard way, some people will never stop drinking coke. Humans hate change, some interviewees admitted that it's their family tradition to drink coke
     
  14. Kaiser Megami

    Kaiser Megami Well-Known Member

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    From my perspective, franchise give you an easier path into starting a small business.

    I can learn the ins and outs of business from a successful business company.
     
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  15. Wujigege

    Wujigege *Christian*SIMP*Comedian

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    What business or industry do you have in mind?
    Personally, I prefer a food related business or some other FMCG

    https://en.m.wikipedia.org/wiki/Fast-moving_consumer_goods
     
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  16. Kaiser Megami

    Kaiser Megami Well-Known Member

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    I am trying to enter the food industry.

    Milk tea is especially hot around my area. I am asking the popular chain called Gongcha.
     
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  17. SoulZer0

    SoulZer0 Heaven Refining

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    Would I? I'm already a small business owner. Not me exactly, my father actually. So basically it's as good as mine.
     
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  18. cap.toon

    cap.toon Well-Known Member

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    It’s not ideal for her to do that if it’s personal. But hey, she’s the boss.

    Not true. Small mom and pop stores do not have their own management. They may have an accountant or backup employees.

    That a LLC. A lot of paperwork and you can’t spent the $$ as you please. But if you get sue or declared bankrupt, your personal finance won’t be hurt.

    A sole proprietor is very common and easy to obtain, but like you already said it’s good for the sunny days and bad for the stormy days.

    What’s your thought on it? Would you take over? What are some struggle your dad has overcome?
     
  19. cap.toon

    cap.toon Well-Known Member

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    I think it is, but if you’re determine and there is a demand in your area—I guess it pays off.

    I’m in commercial cleaning. But I really wanna go away from that. I believe being a business owner isn’t for me.

    Just thought this would be a good topic to discuss.

    You may want to look around, asset what the demand of the location is and start from there.

    She can offer to train and pay a portion of tuition fee under contract. She can be considered a private provider. All she needs is a medical receptionist, an accountant, someone who deals with insurance and that should keeps her floating.

    My cities has a lot of private practitioners. It’s something I never want to do. I would rather just work for someone. Being your own boss is great sometimes, but it is not always true that being your own boss mean flexibility!!

    I agree. But these kind of position are hard to come by. I wish my heart would tell me so and the universe would make me successful. Everyday. Everyday.
     
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  20. aegis062

    aegis062 Chaotic Demon Emperor

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    im not talking about small mom and pop stores they are small businesses, but those don't really need management with a computer or a notebook they can keep accounts in order most new cashier equipment is even connected to the cloud and all you have to do is look at the data sheet to see total sales you can just add and subtract cost maintenance and utility bills etc. basically management for dummies.
     
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