Supposed Friday Infatuation Junkie

It's a franchise but you still have to spend £40k of your own money?! I know nothing about business.
 
Kate said:
It's a franchise but you still have to spend £40k of your own money?! I know nothing about business.
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You pay them the franchise fee and they then provide everything to kit the shop out. Then any money we make is all ours, we don't then pay them anything.
 
Rachey said:
Moopy I need advice.

Mandy and I are looking at opening a small shop. But then we change our mind. We've been uhming and ahhing over this for months.

We finally have the money and a potential shop.

Pros of the shop:
Being our own boss
Picking and choosing when we work
Potentially making a lot of money

Cons:
To start with until established, working long hours, up to 7 days a week
Not being able to have weekends away and as many holidays
Stressing about how much money we need to make.

Or do we stick in our current jobs which are secure, I only work 3 days a week, although I do hate my job half the time, and spend the money on holidays?
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As someone who runs their own, increasingly more stressful business the simple answer is this:

If you feel the pros outweigh the cons, go for it.
 
The business model itself sounds solid, especially with domestic tourism set to be massive this summer, and probably next, maybe even beyond because of Brexit.

Living a seasonal life is a lifestyle choice. Sacrificing your summers for money can be hard, but then if you do well, you can always enjoy winters travelling.
 
My #1 tip is be prepared to adapt to a never ending emotional rollercoaster. I can go from being elated to the point of feeling like I am on MDMA one day, to feeling fucking miserable the next with my business. But actually that might just be me, and years of ongoing MDMA consumption. lol.
 
As someone that tried having their own business, it isn't for everyone. I am glad I tried, but be prepared for the possibility that you don't like it, and make sure you have a pathway out. (For me, that was going back to Uni then getting a normal job afterwards)
 
Rachey said:
Holidays!
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Big Ron's final thought. Treat your business as an adventure, rather than a lifetime commitment. Much like a holiday, you're going to emerge out of it at some point rich with experience and memories, whether the business fails or succeeds. Our festival business was a fucking dog. I spunked thousands on it for nothing, but my fucking god I had a good time and I cried when it was over.
 
ZenGiraffe said:
As someone that tried having their own business, it isn't for everyone. I am glad I tried, but be prepared for the possibility that you don't like it, and make sure you have a pathway out. (For me, that was going back to Uni then getting a normal job afterwards)
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This is 100% true. I know a couple of people that have done it, didn't like the stress, and then went back to the 9-5. I love life being exciting, highs and lows, which is why I am not cut out for a day job, but for some people, its fucking hell.
 
big ron said:
The business model itself sounds solid, especially with domestic tourism set to be massive this summer, and probably next, maybe even beyond because of Brexit.

Living a seasonal life is a lifestyle choice. Sacrificing your summers for money can be hard, but then if you do well, you can always enjoy winters travelling.
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I was hoping you would comment actually, j was looking for your opinion.

Summer holidays have never appealed to me anyway. I hate holidaying when the schools are off. So we tend to go away march/April/may/November time. Obviously may will have to change.

We have been in a lot of contact with the franchise owners and they have said a lot of the tourist destination shops do so well over the summer they close all winter. We probably wouldn't close all winter but would focus on online sales and weddings etc.

I wish I had a crystal ball and could see how we were doing in 5 years time. I know if I don't do it I'll probably still be in the same job, fairly happy, but always wondering what could have happened.
 
big ron said:
My #1 tip is be prepared to adapt to a never ending emotional rollercoaster. I can go from being elated to the point of feeling like I am on MDMA one day, to feeling fucking miserable the next with my business. But actually that might just be me, and years of ongoing MDMA consumption. lol.
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:D if I do it and get those feelings I'll let you know, I won't be doing MDMA.
 
ZenGiraffe said:
As someone that tried having their own business, it isn't for everyone. I am glad I tried, but be prepared for the possibility that you don't like it, and make sure you have a pathway out. (For me, that was going back to Uni then getting a normal job afterwards)
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What didn't you like about it, just so I can prepare.
 
Lucille said:
How did it happen? Did you think they were Vegan?
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I’ve been running down the freezer and had a bag of Chick’n Nuggets in there. I grabbed them out the freezer last night and bunged them in the oven then scoffed the lot.

I’ve just gone to the freezer to throw stuff out and my bag of Chick’n Nuggets is still in there. Which must mean I ate actual chicken nuggets that belonged to my awful flatmate.

Unless I had two bags, but I don’t think I did.

:(:(:(
 
Oh Nancy :( did you not realise they were chicken nuggets as you are them?
 
Rachey said:
What didn't you like about it, just so I can prepare.
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I hated the instability of my income and not knowing where my next job was (It was film production.) Also, I am not the best at working 100% under my own steam, having a form of external accountability is useful for keeping me motivated. It is a struggle I am having now not being in the office again, and kind of being left on my own with things.
 
ZenGiraffe said:
I hated the instability of my income and not knowing where my next job was (It was film production.) Also, I am not the best at working 100% under my own steam, having a form of external accountability is useful for keeping me motivated. It is a struggle I am having now not being in the office again, and kind of being left on my own with things.
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Do you ever regret trying your own business?

I think I've worked in a team for so long now, probably 21 years, that I kind of want to work for myself, doing things as I want. Plus I'll be dealing with customers a lot so will still see people.

I have no idea how motivated I am working on my own tho so that could be interesting.
 
Rachey said:
:( I'm so sad for you!

But in similar nicer news, have you tried the Quorn battered extra crispy nugget things? They're amazing!
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They’re not vegan, I don’t think. They’ve got milk and/or eggs in them.
 
ZenGiraffe said:
No, not at all. If I hadn't tried, I'd be sat here now constantly wondering and regretting not trying it. And indeed I value my job a lot more knowing that the alternative isn't really for me.
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Ok, that's good to know.

I think our only regret if it doesn't work will be the money we lose
 
Rachey said:
I was hoping you would comment actually, j was looking for your opinion.

Summer holidays have never appealed to me anyway. I hate holidaying when the schools are off. So we tend to go away march/April/may/November time. Obviously may will have to change.

We have been in a lot of contact with the franchise owners and they have said a lot of the tourist destination shops do so well over the summer they close all winter. We probably wouldn't close all winter but would focus on online sales and weddings etc.

I wish I had a crystal ball and could see how we were doing in 5 years time. I know if I don't do it I'll probably still be in the same job, fairly happy, but always wondering what could have happened.
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If you go for it, In 5 years you might have a successful business, you might not, but if you don't in 5 years you might look back and say 'I wish we had done that'
 
ZenGiraffe said:
No, not at all. If I hadn't tried, I'd be sat here now constantly wondering and regretting not trying it. And indeed I value my job a lot more knowing that the alternative isn't really for me.
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There you go @Rachey. My fee for business coaching is fuck loads of fudge. thnx
 
big ron said:
If you go for it, In 5 years you might have a successful business, you might not, but if you don't in 5 years you might look back and say 'I wish we had done that'
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That's my fear, I don't want to regret not trying.
 
Rachey said:
Ooh yes I'll send you some!
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Also one final final thought, I've found that I work a lot better with having a business partner than completely solo. That other person keeps me in check and motivated (and vice versa) and I think that's been a huge driving factor. I'm a lot more likely to bin stuff off when I'm not accountable, so you having Mandy should keep you going.
 
big ron said:
Also one final final thought, I've found that I work a lot better with having a business partner than completely solo. That other person keeps me in check and motivated (and vice versa) and I think that's been a huge driving factor. I'm a lot more likely to bin stuff off when I'm not accountable, so you having Mandy should keep you going.
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This could be very detrimental to our relationship :wired: but she's definitely more level headed than me.
 
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