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Old 08-25-10, 11:44 AM   #1
MissKristen 
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Small Business Owners? Anyone?

Greetings, Foo.

Been a while, nice to see you all again.

Anyway, I just resigned from my relatively cush gig in corporate retail about 30 minutes ago. I have two more weeks left here, then I'm going to begin my new life as a small business owner with an estimated opening date of October 2nd for my sweet little brick & mortar store front. Anyone else here own a small business of their own?

Thanks
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Old 08-25-10, 11:56 AM   #2
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Best wishes on the future of your business! Can't say I have an experience, but do wish you the best of luck with the endeavor.
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Old 08-25-10, 12:53 PM   #3
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My dad had his own business growing up; he made a killing at it, too. Except he didn't set anything aside for taxes. And his clients all went to something more commercial, so he had to close his business (clients regretted their huge mistake, but they couldn't go back). Oh, the taxes thing? Ya, that was fun. Despite my dad making more money than anyone I knew (or still know, in today's dollars), I had to get a job and buy my own school clothes because my parents were dating the IRS for the next 15 years...
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Old 08-25-10, 03:14 PM   #4
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my mom owns a small beauty store. not doing so great right now =/ it's funny how people come in and ask "can i have discount?? but i'm so poor..." i wish i can tell them... "then why are you even here? your face is more important than your stomach right now?" but i can't... we also need their money too ;D
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Old 08-25-10, 03:31 PM   #5
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Good luck, Kristen! Can you tell us what your business is? (I think you maybe mentioned it in the Women's forum, but I've forgotten...)
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Old 08-25-10, 05:57 PM   #6
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Hey, congratulations!!! You're in for quite and adventure!

I quit my corporate-job in '95 and started my own computer-consulting biz. Then in '02 a Porsche upgrade business with online-sales and a small shop for walk-ins and installs. Contrary to popular belief, having your own business actually means more hours working for less money!!! You gotta be the front-desk person, the salesman, the accountant, the shipping-clerk, even the janitor that takes out the trash at night!
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Old 08-25-10, 06:02 PM   #7
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What kind of business?
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Old 08-25-10, 06:52 PM   #8
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Quote:
Originally Posted by kekkiumai View Post
my mom owns a small beauty store. not doing so great right now =/ it's funny how people come in and ask "can i have discount?? but i'm so poor..." i wish i can tell them... "then why are you even here? your face is more important than your stomach right now?" but i can't... we also need their money too ;D
Yes! I completely understand. When I get those types of calls, I tell people I am not available to service their area or am booked. I would rather not work than to get paid nothing for giving so much of myself.
Good luck on whatever it is that you will be doing. Just be prepared to do IT ALL.
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Old 08-25-10, 07:00 PM   #9
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Quote:
Originally Posted by MissKristen View Post
Anyone else here own a small business of their own?
Yep.
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Old 08-25-10, 07:01 PM   #10
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www.patentcad.com

I started my patent drawing business 19 years ago so I could ride my bicycle. It's still working. It's not always easy (cash flow can suck) but it beats having a real job.

Good luck. Entrepreneurship RULES.
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Old 08-25-10, 07:20 PM   #11
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Thanks guys!

I'm joining an existing home-grown company here in Cbus that deals in high-end, custom soy candles and home goods. You can make your own soy candle from 120+ scents, which is AWESOME. There's two existing brick and mortars here in Columbus and a couple outside of the city. I'm opening their third, in the bustling downtown area of a wealthy suburb. People go absolutely NUTS over this company here in the city, it's a very popular shop and my store is also going in right next to the most popular ice cream option we have here too It's the perfect storm.

Sounds crazy, I know. Leaving corporate for... candles? But it's a surprisingly lucrative business, with all kinds of growth opportunities. Not to mention being my own boss and earning my keep. I can't wait.
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Old 08-26-10, 03:05 AM   #12
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I ran a across a women's group meeting of some sort where they were selling candles in a MLM operation. Kinda like Amway. Perhaps you can market your candles to outfit in a mass-volume way. Good luck!
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Old 08-26-10, 05:37 AM   #13
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the wife and I have been getting closer to making a move like this in the last few years. Congrats and good luck!
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Old 08-26-10, 06:54 AM   #14
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I ran a across a women's group meeting of some sort where they were selling candles in a MLM operation. Kinda like Amway. Perhaps you can market your candles to outfit in a mass-volume way. Good luck!
We're still a small company and want to keep things very hands-on (every single product is assembled and made by hand, that's kind of our niche), so I'm not sure about an Amway type situation, HOWEVER we did recently get a massive contract supplying a huuuuuge sports organization here in the states (for gift baskets, etc), and we have experience with larger contracts in the 25k+ unit range, but holy god was that a lot of work. ha

My suggestion to anyone even kicking around the idea of opening your own business: do your homework, then just do it!!! No time like the present, and you don't want to be wondering 'what if?' down the line.
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Old 08-26-10, 07:14 AM   #15
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Good luck! Is this a franchise or are your taking part ownership? Either way, just make sure that all parties are clear about each others responsibilities.
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Old 08-26-10, 07:26 AM   #16
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"all parties" including local, state, & federal tax entities, OSHA, worker's comp.... hope you have a trustworthy CPA!!
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Old 08-26-10, 08:15 AM   #17
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Don't worry, we've worked out all of the details regarding division of responsiblities, expectations, etc. Both sides have legal/accounting/financial teams and everyone is in agreement. It's all good, bike friends.
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Old 08-27-10, 05:28 AM   #18
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My suggestion to anyone even kicking around the idea of opening your own business: do your homework, then just do it!!! No time like the present, and you don't want to be wondering 'what if?' down the line.
Besides starting a business, we were also kicking around the idea of finally having kids - and coming up with a thousand typical reasons not to...but I read something recently that puts it all into focus - people tend to regret the things they never did far more than anything they did. Looking back over my lifetime, I'd say that is definitely true.

Thanks for the boost and I wish you well in the new adventure. It sounds like you have the energy and attitude right where they need to be, which I am sure is half the battle at least!
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