You'll work longer, harder and for less money than everybody else but very little is more rewarding.

 

It can have it's advantages during riding season!!! But you do still work alot of hours.

 

19 years being self employed in the insurance business. Definitly has rewards and drawbacks as well. Not everybody can run a business though. Have seen a lot of failures. Do it and good luck. Nothing ventured nothing gained.

 

I own my own company with multiple offices in different cities. It's a lot of work to manage the sales, the people, the inventory, and costs, but it's all worth it in the end when run properly. A few have said it well, as you have to know what type of money you're going to earn and the return on your investment. Don't buy just cause an old guy is going to show you how to run his gig, as he may not be the best businessman in the first place! A lot can be said from an in depth review of his books and he should be open to this if there kept well.

Be sure to have a Chartered Accountant look at the books to see how they were kept. That will give you an outside opinion as to how the numbers look (profit or loss) and if it's kept properly. One thing I am **** about in business is keeping books up to date, and very clean. There are many accounting programs on the market to help you with that, and you can always have the reconciliations done by others if journal entries aren't your thing. While it sometimes works, businesses can be hard on relationships, so be sure you both want to work together before having your spouse in with you, and if so leave the books for the person who manages the money. They're usually best at that! My advice is don't rush into if you know what I mean? Do your due dilligence before entering into anything and be sure to get an accountants opinion of the P&L statements and Balance Sheet!

Any good accountant can show you how the companies profit and loss reads, and this should let you know if it's the real deal, and what it's truly worth to buy. Good luck, have fun and let us know when you've done your first million!

 

Been in business since 1974 , worse economy we have ever seen, but with your type of bus and you have perks being a vet, you should be good to go......

Is that a beer boot from Germany in your sig, man those were the days....

 

I don't own a business, but I've sure been paying attention to what it's all about, and IMO, that just about says a mouthfull.

 

In reading this thread it appears there is a repeating theme of "I've owned my business for x years and I could never go back to working for anyone else." I believe more accurately phrased it should be "I could never go back to working for someone else who owns the business I am in." If you start your own business you will find out while you may own the business you will be working for everyone of your customers, everyone of the manufacturers you represent/distribute/service, the bank if you have borrowed money to start the business and that's just a short list. In additon to that, if you are the right person to go into business you'll end up feeling a certain responsibility to your employees should you have any. Couldn't work for anyone else?....you ultimately work for everybody.

I said many times over the past 15 years since I started my business I had all of the answers only to find out I didn't know what most of the questions were. It has been a wonderful learning and very profitable experience but keep in mind there are no guarantees. Good luck.

 

People may laugh at this, but, I have my own Handyman business, and as simple as it may seem, I make pretty good money at it. People dont want to fix there own stuff, so I am the man they call....and, with the housing market the way it is, I am getting calls from mortgage companies as well wanting me to fix up there trashed houses..

 

I have a consulting business after retiring from DoD for 35 yrs. Average working about 10 hrs a week. Thought I'd ride the rest of the time, not a happening....

 

I have not heard you say if you have a passion for small engines????
If you are going to live and breathe a career you better like it up front. I knew years ago when I was 16-22 yrs old working two jobs, one which was retail on Saturdays.... I hated working weekends and knew then to steer away from anything requiring weekends. (Yes, I do trade shows etc on weekends once or twice a year, but not for the rest of my life!)
JU