Monday, September 18, 2006

Thinking

I was talking with Andy yesterday when he suggested I buy not a telescope, but a telescope store. Apparently the woman who owns the store wants to spend more time with her family.

So I've been thinking about it. I have ideas on what I'd change and what I wouldn't. I've been wondering what it would be like to actually run the place, to be my own boss. I have doubts that I actually know enough about the products to do a good job selling. I worry that making a hobby a job would be the end of enjoying the hobby. And never mind the fear of going broke. It's the only astro store in own, but the internet is a powerful force.

I don't even know what I don't know: taxes, insurance, employees, liability. Could the store support my family?

I'll likely not get past this point, but I'll wonder "what if?" for a long time.

1 comment:

Michelle said...

If she wants to sell the store, she likely has some financial records she would be willing to show you with sales figures and expenses. She may want too much for the store BUT she may even be willing to work out some kind of deal with you, you just never know! Alternatively, if she plans to go out of business anyway, think of opening your own store rather than buy one...

Taxes are not really harder than being a contractor, you know someone in the insurance industry and you are the main employee (you might not even need anyone else). And there are tons of free small business seminars put on at colleges (UH had a whole Small Business Development Center that gives free advice). And there are a lot of creative ways you can market it too!

I'm all for working for yourself (risky or not), and really, I can't think of a better time for you to take a risk like this if you ever intend to! It's at least worth exploring and finding out more information...