Business Ideas and starting it while employed

[chelle21689]

I just started a job with good pay and really great benefits: 20 days pto, 20 sick days, 2 weeks off in December, 9 holidays off, 9% of my salary put in to retirement, free tuition, etc. Despite all of this, I still and always have dreamed about my own business. This has been a dilemma for years and I have no idea what my passion is and my interest always changes. How do you know what is your real passion (profitable)? I have to say, I can' t think of anything strong interests at the moment.

I did think of doggy daycares because I absolutely love dogs but after doing research it just looks like something I think is worth investing in to me and my lifestyle. I thought about fitness since I used to be in to it but I want a business where I don't have to be there and plus I love food way too much to advocate for healthy clean eating. I've thought about staffing agencies but after working in one I absolutely hate it. I do like my HR job so maybe I can do something with that some day....but really I have other stuff I think I'm more interested in.

I do really love and appreciate alcohol like craft beers, wine, and whiskies. I am definitely not an alcoholic but me and my boyfriend know how to make some good cocktails. I think we have a great taste for food and if I like a dish that tastes really good I learn to make it... A part of me is thinking about one of those chill bar hangouts with good beer, good appetizers and some easy eats, and just a good overall environment. Not like a neighborhood bar or anything like that.

My family does good with business. My parents, uncles and aunts own a business. My sister just bought her 2nd daycare. Also, she wanted to do a beauty salon and suggested I learn to do nails and beauty stuff but I don't think my heart is in it. I don't think I have much interest in it.

So what do you guys think about that "typical" idea of a nice craft beer place with many varieties plus cocktails and good appetizers and plates? Is it possible to open up a side business while being a full time employee? What kind of research would you do to get this started?

Thanks!

[vangogh]

Welcome back to the forum chelle21689. I think your idea is a good one. I'd like to hang out in a place like that, have a beer, and a bite to eat. I'm not sure how well it will work as a side business while you keep your job. It sounds like a full time business to me. You can certainly do research and plan things out while you keep the job, but I'm not sure how realistic it is to do both. That doesn't mean you can't. I know I couldn't, but I'm not everyone.

As far as what to research why not go out to a lot of places where you live and take note of the experience, the food, the service. Snap a few pictures. Record your thoughts. Besides being a fun way to do research, it should give you an idea of what others are doing. You'll probably be able to find reviews of all the places too and see how those compare to what you thought. Keeping a record of your thoughts will likely generate ideas for how you'd like to do things. Pay attention to which places in your area are always busy and which are usually empty. In each case ask yourself why you think that is.

I'd also try to figure out how much everything costs. How much will it cost to lease space somewhere? Where will you get your beer and how much will it cost? The same for the food? Ask questions while you're out at different places. People may not want to tell you everything, but they'll probably tell you something. Look things up online too. Odds are you can find some prices online too.

Try to get the vision for what you want your place to be. Figure out how much it will cost to open and then run and think about what makes other places popular in your area. Tweak your vision a little to do what the other popular places are doing.

Hope that helps.

[KCMDigitalMarketing]

I think there's a little bit of entrepreneur in all of us even when we have a really good full-time job.

You'll definitely need alot of working capital just to start your craft beer place. As for doing it as a side business while maintaining a full-time job, that would be rough.

I've had a full-time job plus full-time college plus a side business. Unless you don't want to spend time with friends/spouse, one of these things might suffer in the long-run.

It's mentally exhausting too.

I could definitely see you having a doggy daycare side business on the side. Even I need someone to watch my dog without having to pay hundreds of dollars for a "pet resort." As long as you have a yard and some way to separate dogs if they don't get along, you might be able to bring in some extra cash.

Try it! Don't waste time wondering "what if." Just go for it.

[afarlow]

Here's a few questions you may want to ask yourself before investing your hard-earned money - What is your drive to start or own your own business? What is it that is making you think about it? Are you doing it to have something to do? Do you want to just because other family members do? Are you looking for something to occupy your time and interest other than what you are doing right now? Are you looking for a way to completely change your life and lifestyle? Are you thinking about it simply for the money/looking to replace your current income and possibly make even more? Many people suggest we do something that has our interest, our passion, do something we already love to do. Well, that's fine, but it must also turn a profit or it's just a hobby.

What about buying an existing business? Will it be online or offline? There are a lot of small business that are for sale and profitable. You could also start a business of your own but hire the expertise to run it without you needing to be there every minute of the day. A smart leader doesn't need to be an expert in all areas. He can hire the experts he needs and make himself look great without doing any of the work.

Before buying any business, be sure you get a look at and understand the accounts receivable and accounts payable. Know exactly what kind of profit it is making each month. That will help you make your decision. What kind of traffic does it get? What advertising is being done to get that traffic and what does that cost?

There are a lot of things to think about and I hope you make the best decision for yourself.