- Dec 28, 2003
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Background info:
-I'm an accountant (recently promoted)
-Studying/sitting for CPA exam
-My wife is pregnant with our first child
I've always talked about how I'd like to one day own a small business, whether it be related to my career or something else. My wife's parents own a few liquor stores. Yesterday, her father was asking her if I am still interested in owning a small business. Apparently, there is a retail strip in an upscale neighborhood looking to lease to businesses. My wife's parents want to know if I'd be interested in opening a liquor store in that strip. They would help finance me and everything and the business would legally be mine.
This is very interesting to me. On one hand, I've always wanted to own a small business. I am a hard worker, and I would rather work as hard as I do for myself rather than someone else. A successful liquor can make good money.
On the other hand, I would have to quit my job/career to get the business going. I would be working 7 days a week for the entire day. And although, I have experience/degree in accounting/business, it would render my professional experience and education essentially useless and a waste of time.
Pros:
-Very high earnings (wife would not have to work)
-Business ownership
-Help from family who has first hand experience with small businesses (specifically liquor stores).
-Wife would not have to work
Cons:
-Giving up on accounting career (even though I was just promoted).
-7 day/12 hour work weeks
-Little time with family
-All of that college education and CPA studying for nothing
-Private medical insurance is expensive (although the higher income would compensate for it).
What are your thoughts? What would you do?
-I'm an accountant (recently promoted)
-Studying/sitting for CPA exam
-My wife is pregnant with our first child
I've always talked about how I'd like to one day own a small business, whether it be related to my career or something else. My wife's parents own a few liquor stores. Yesterday, her father was asking her if I am still interested in owning a small business. Apparently, there is a retail strip in an upscale neighborhood looking to lease to businesses. My wife's parents want to know if I'd be interested in opening a liquor store in that strip. They would help finance me and everything and the business would legally be mine.
This is very interesting to me. On one hand, I've always wanted to own a small business. I am a hard worker, and I would rather work as hard as I do for myself rather than someone else. A successful liquor can make good money.
On the other hand, I would have to quit my job/career to get the business going. I would be working 7 days a week for the entire day. And although, I have experience/degree in accounting/business, it would render my professional experience and education essentially useless and a waste of time.
Pros:
-Very high earnings (wife would not have to work)
-Business ownership
-Help from family who has first hand experience with small businesses (specifically liquor stores).
-Wife would not have to work
Cons:
-Giving up on accounting career (even though I was just promoted).
-7 day/12 hour work weeks
-Little time with family
-All of that college education and CPA studying for nothing
-Private medical insurance is expensive (although the higher income would compensate for it).
What are your thoughts? What would you do?