For context I work at a small coffee shop . They have been established for 15 years… before Covid the business isness was VERY busy . The coffee shop to be at. During Covid the company had to switch managements and business began to decline . Right now it pays enough to operate and pay employees (this includes myself)
I’ve been working there for 2 years. I recently expressed to my boss I want to start my own business venture but I don’t know if the time is right . I love what I do and the neighborhood I’m in. I find a lot of joy in building and creating a community . She saw this and my dedication and hope for the place and offered me half of the business ess and profit made from it.
What am I getting myself into? I feel this offer is amazing and something I would really love doing. I’m young and don’t have much to loose… or maybe I do and that’s why I’m posting. I’m willing to invest 7k into the company but nothing more. But a lot of my time and dedication would be to bring business back in .
What do I need to think about ? Pros and cons?
This is good advice OP, and if you don’t know how to do this, find someone you know and trust who does and ask for their help. If the business is doing decent, doesn’t have much debt, and you think you can add value to what they’re doing already, it could be a great opportunity. If they have declining revenue, aren’t making much profit and have sizable debt, not a good idea. So don’t make a decision either way until you see some numbers you are confident in.