Hey y’all- I currently own a bookkeeping firm (which consists of just me) that is netting me a couple hundred thousand a year. I’m also a realtor and will do about $70k this year with that business.

I’m considering buying some sort of franchise or service based business like a flooring company (because of the real estate contacts I now have). Obviously I don’t know anything about these businesses but I feel like I could learn and expand pretty quickly. I just really feel like business ownership in some sort of trade is the way to go in order to expand my “portfolio”.

Am I crazy?

  • FormerSBO@alien.topBEnglish
    1·
    10 months ago

    Lmaoo, running a trades company (I do) is NOTHING like those other 2

    In the Trades, you have to hire out, trust, and inevitably, fix shit, alot. You also have to deal with pissy or shady clients who pretend something is wrong and refuse to pay. Dealing with subs can be a nightmare too, esp early on. You don’t just hang out at a home depot and find quality staff lol.

    I would NOT recommend to you.

    Someone starting out or with low income, absolutely can be worth getting into. You have no idea how much work you’re setting yourself up for, which will likely result in a net loss as your other businesses will suffer TREMENDOUSLY as a trades based biz sucks up 98% of your time and energy