How many people own their own business? And what is it?

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Do you own your own business, and what is it?

Dou you love it?
4
11%
Do you hate it?
0
No votes
Like being my own boss.
10
29%
Like being my own boss, but hate the hours
8
23%
The rewards are greater than the cons.
7
20%
Anything else you might have to say..
6
17%
 
Total votes : 35

Postby Arne » Sun Apr 08, 2007 6:12 am

I've always wanted a business where I had little contact with annoying people. When I retired (I walked in and quit one day, no 'package'), to supplement my income, I developed some investing tools which I use with a select group of monied people which has been stable (and strictly limited) for years.

As others have mentioned, with the advent of the internet, this type of thing can be done whereever I can connect to the internet. I have never been a day trader. I have leaned towards a system that lived through small market drops, but avoided the larger, gut wrenching market moves.

Usually, it takes me (after years of development) about 1/2 hour per day. If no changes are required (the market went up on any day), I don't even have to do anything except to see how much we made. If there have been a series of down days, the mechanical signal will tell me when to get out... on the following chart, I am the red/green line... a person who was a buy/holder, is the solid red line with the steep drop, which I avoided. In the past 9 months, little effort was required, as I only exited my market positions twice, going to money market accounts. I only invest in 4 pre-determined mutual funds, so it is really pretty simple.

Psychologically, it is not as rewarding as working with wood and producing a lasting product, but it does have financial rewards which make it worthwhile... and I can do it in my pajamas....

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Postby len19070 » Sun Apr 08, 2007 7:56 am

I am an RV Technition at a Major RV Acessory Company, 3 days a week to cover my health Care & Benifits.

The rest of the time I still own a lot of Real Estate from my Builder days. Maintain & manage That.

Managing the Apartments can be done from my Shop, where I build things.

Love the money...Hate the tennants.

Happy Trails

Len
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Postby Gaelen » Sun Apr 08, 2007 8:15 am

I've run several of my own businesses during and since college--
1) freelance writer/editor (still do this now and then when the mood strikes)
2) freelance graphic design and marketing--did that for around 15 years
3) custom needlework and quilting restoration--way too much like a job!
4) designed personalized miniature Christmas trees (did that for three seasons--now I only do them as gifts for friends!)
5) sold dog obedience supplies and breed specialty items for 20 years (started by managing a local dog obedience club's inventory; ended up buying them out, providing their class inventory, and doing limited retail sales as a dog show vendor to support showing my dogs, my other 'habit')
6) dog trainer (kennel manager/groomer, curriculum development for hire, class instructor and private trainer specializing in 'difficult' dogs) -- still consult on a difficult dog now and then, but no longer actively teach either classes or private lessons except on a one-time professional referral basis)

Loved the freedom and the hours and (most of the time) the work.
Hated the hours, NY state paperwork and the cash flow issues of maintaining a retail inventory.
Loved the hours, freedom and challenge of training and writing about training for a living.
Hated the hours, and presenting the reality of life to humaniacs who were/are absolutely positive that 'there are no bad dogs' (or cats, or birds, etc.).

Most of all, hated trying to restore a 100-y.o. victorian while doing these things, and being told that I made too much money to qualify for the renovation assistance development area loans that were happily handed over to other people in my neighborhood who were working at more conventional jobs! :?

20 years ago, to help with cash flow, I took a temporary position as an animal tech in pharmaceutical research with one of those billion-dollar corporations everyone loves to hate (until they get cancer, heart disease or diabetes, that is...) The day job pays the bills, gives me unlimited access to office supplies, allowed me the financial fredom to take courses toward my masters and towards a couple of techie certification, and provides me with reasonably comprehensive health insurance which became pretty important a couple of years ago. I get paid for technical writing and editing, training and software acceptance testing.

I love my work, but my condo (sold the victorian!) will be paid off in a year and the truck is mine free and clear with only 60K miles on it. Aside from a continuing need for affordable health insurance, I'd quit tomorrow. I can shift pretty easily from writing and editing for hire to freelancing, and I've learned over the years that I can make enough money to live doing just about anything. There's a growing market for software acceptance testing consultants who understand GLPs and the relevant federal regulations, and can successfully guide a team through that process.

Or I could always go back to training dogs for hire...which despite the risks was always the most satisfying part of my day. 8)
Gaelen
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now: '05 Finntec homebuilt teardrop
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Postby JunkMan » Sun Apr 08, 2007 9:34 am

I'm a Domino's Pizza Franchisee with 4 stores. I started working in the pizza industry in the 70's when I was in high school. Been with Domino's since 1981, and opened my first store in 1984. I've currently got them up for sale, and hopefully will sell them before the summer is over (I've got a potential buyer).

When I started with them, Domino's had less than 500 stores. Life was good back then, we (franchisees) all knew each other, and the founder was concerned that we mad a profit, so we could expand. A large pizza sold for about $10, employees were loyal and hard working, and we made a decent living.

Today, Domino's has over 8000 stores world wide. A large pizza brings about $10 if we are lucky, (thanks to Little Ceasers), all of our costs have gone up significantly, good ( any?) help is hard to find, and the company is owned by a publicly held corporation that could care less if we make a living, as long as the stock holders and CEO are making money.

Luckily, I invested in some real estate over the years, and hopefully that will allow me to semi-retire when I sell. I hope to build a shop this fall, and tinker around with old VW's, old trucks, trailers, and whatever else catches my eye. I've always been a wheeler/dealer (hence my username), and should be able to make a living just buying, selling, fixing, and restoring whatever treasures I may find.
Jeff & Odie
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My jobs

Postby Aaron Coffee » Sun Apr 08, 2007 10:16 am

My day job(which sounds like I may get railroaded into the new nightshift) is running our new CNC laser cutter(sheetmetal). I'm getting used to it, now if the owner would get bored with it and leave me alone.
I also own a small video production company. I tape local stock car races(Friday and Saturday nights), then sell copies and every two seasons put together a crash tape. It's fun gives me a little extra cash, but since I am the whole company, makes it hard to take any nights off.
If I could shut my brain off, I could save myself alot of time, money and effort.
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Postby cherokeegeorge » Sun Apr 08, 2007 6:12 pm

i make wood patterns for sand castings. have had my own bussiness for20 yrs.
George

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Postby s4son » Sun Apr 08, 2007 6:58 pm

This is an interesting thread. I have been trying for the last 4-5 years to figure out what I want to do when (if) I grow up. I have been with my current employer for 22 years. I planned on retiring at age 52 when I became eligable for health insurance but they changed that and now I have to wait until I'm 55. That extra three years sounds like an eternity. I'm going to watch this thread to see if I can steal any ideas (just like all the other threads) :lol: .

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Postby Arne » Sun Apr 08, 2007 7:19 pm

I previously worked for a large insurance company. A major player in my decision that I could retire was they would pay 75% of my health insurance... and they still do.... don't think I would have been so cavalier about quitting my job if I did not have that as a consideration...
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Postby wolfix » Sun Apr 08, 2007 8:26 pm

Going a little off balance here...... But I see so many people staying with jobs because of the health insurance when they want to be business owners. And I fully understand that.... Sometimes we have no choice but to do that. However I have always felt that the drive to be a business owner was one of the reasons that made this a dynamic country in which to live. I feel the high cost of insurance is damaging this country in a major way.

But I would also say that if owning a business is what you want bad enough, you will find a way... I have never regretted it.
"I am the guy our parents warned us about."
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Postby asianflava » Sun Apr 08, 2007 8:41 pm

wolfix wrote:Going a little off balance here...... But I see so many people staying with jobs because of the health insurance when they want to be business owners. And I fully understand that.... Sometimes we have no choice but to do that.


"You are only one major illness away from bankruptcy."
Don't know who said it but it is so true.
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Postby halfdome, Danny » Sun Apr 08, 2007 8:51 pm

wolfix wrote:Going a little off balance here...... But I see so many people staying with jobs because of the health insurance when they want to be business owners. And I fully understand that.... Sometimes we have no choice but to do that. However I have always felt that the drive to be a business owner was one of the reasons that made this a dynamic country in which to live. I feel the high cost of insurance is damaging this country in a major way.

But I would also say that if owning a business is what you want bad enough, you will find a way... I have never regretted it.


"Conditions are never just right. People who delay action until all factors are favorable do nothing". William Feather :thumbsup:

I started my one man business without health insurance and I went without for 5 years.
You sometimes just have to have faith and do it.
I know I took a calculated risk but I've always have led a healthy life style so my risk was low. :D Danny
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Postby apratt » Sun Apr 08, 2007 9:52 pm

I owned and operated a body shop for 24 years. Worked crazy hours, it was nothing for me to work 80 hour weeks. Got burnt out, so closed the shop up and sold the building then went into realestate. Buying housed to fix up for resale. Just as I started the realestate I found out I had cancer, thanks goodness my wife work for the state so we had health insurance. Cancer don't care if you are healty or not, I was in great health and was very ative. After the chemo treatement it made me into a couch potatoe, I am trying to get my old energy back but it is taking a long time. Back in 1990 before I gotten married I paid my own health insurance it gotten up to 400 dollars a month gotten to where I couldn't afford it, had to cancle it.
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Postby Sierrajack » Sun Apr 08, 2007 10:03 pm

Glassice,
Where exactly in East Nevada are you?
Funny thing, I was thinking about a fiberglass TD shell today much like you see with the majority of the home builds using the traditional profiles. Then just mounting it on a floor, cutting out windows, etc.
I owned a Hobby Shop in Northern Nevada and just loved it. My boss was a jerk, made me work nights and weekends too. However, trying to make real money with a hobby shop in a small town just doesn't work well with the advent of catalog and internet sales. I just couldn't compete!!!
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Postby glassice » Sun Apr 08, 2007 11:01 pm

45 mi S of Crescent Valley the land of no codes. all of e NV is growing bout 8 lot 's in elko for less than $700 4 years a go now being offers of over 50 k each there on the so call river. on my post i been tying to show how to build with No mold it very ease I think easer than wood .It uses high din. foam 1" but where you are might go 1.5"- $16.oo a sheet at home depot even the floor take a look at my album .If your at home depot pick a piece up and see how rigid it is the glass just stops you from putting your finger through it and very little to maintan on it
It is not the return ON my investment that I am concerned about; it is the return OF my investment
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Postby Wolf » Mon Apr 09, 2007 12:52 am

I own and operate my own shop and online company. I can build just about anything out of wood. I just added a new cnc router to my tool line and am able to produce better quality work on all my projects. Current build is another Cafe model teardrop trailer. I also build cabinets and solid surface counter-tops when the work is available. My website can be viewed at <tearsojoy.com>
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