Topic: Would like honest opinions
in Forum: Humor
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Lifetime MemberI am a forward thinker at times, I for those of you that don't know this we have a adult child who has developmental disablities, she requires care 24/7, but she is healthy and social. We want/would like for her to have her own income, as to cover cost which the state does not provide and so she will be self substaining when we are gone. Here is the question, (wife is not informed yet, scared to tell her, she is not a gambler, risk taker, visionary)
Found this push cart vending business that is very appealling to me as a business that my daughter could own and have a serious shot at making some income. Problem is I have never owned a business, made out a business plan, etc, only have thoughts running through my 2 brain cells. Figure she could be involved in finding locations, sampling, marketing (she does have that cool little advertising car). Figure she would sell at fairs, parades, summer events, the beach, lakes, car shows, hire for company picnics, grand openings,ball parks, special events. Could be used as a fund raiser, where the group would do the work and they would split procedes.
Also figure/thought she could possiably hire other people with disabilities to work the cart to provide them with jobs.
I know this is very basic thoughts, that is why I would really like some feedback from my families collective brain. thanks for all that you do, here are some links to the website in question and to Laceys ad business (which is has not been profitable as of yet)
figure start up cost around 15 grand, looking for grants or low interest loans for women with disablities business owners.
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Former Member
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Frederick, MD - USA
Joined: 9/8/2003
Posts: 3398
Vette(s): 1969 convertible L71 427/435 4-speed black interior
Look it over carefully, work out a business plan, have an accountant go through it for advice, then if it all looks good, go for it.
One thing you don't want to do is be undercapitalized. I was once part of a business that was undercapitalized at the beginning. We developed a strong business with a good client base, but it expanded faster than we could financially handle. Ultimately we had to sell out, but that doesn't mean it was a failure...just we didn't keep a handle on things. Don't make that mistake.
There are many pitfalls to having your own business and even more rewards. My wife opened her own business last summer, and while it's still moving a bit slow, the future looks bright.
I say go for it. The turtle only makes progress when he sticks his neck out.
One thing you don't want to do is be undercapitalized. I was once part of a business that was undercapitalized at the beginning. We developed a strong business with a good client base, but it expanded faster than we could financially handle. Ultimately we had to sell out, but that doesn't mean it was a failure...just we didn't keep a handle on things. Don't make that mistake.
There are many pitfalls to having your own business and even more rewards. My wife opened her own business last summer, and while it's still moving a bit slow, the future looks bright.
I say go for it. The turtle only makes progress when he sticks his neck out.
Hey Bad, if you haven't already, check the Disabilities Act in your county, state and contact your congressman if you need and check to see if they can help your daughter and you with your expenses. Like Gunslinger says check the business out cafefully. Good Luck, Gene
Former Member
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Bladenboro, NC - USA
Joined: 1/22/2006
Posts: 1058
Vette(s): 1972 conv., sunfire yellow, blk interior, blk vinyl and convertible top. Off frame restoration with American Speed 383 stroker engine producing 500hp plus a 200hp NOS system. MSD ignition. Hooker super competition headers with chambered exhaust.
Larry,
I would suggest you check with your local SBA (Small Business Administration) office. They offer a program for teen entrepreneurs. Since your daughter has a disability, there could be a special provision for her. Good Luck.
I would suggest you check with your local SBA (Small Business Administration) office. They offer a program for teen entrepreneurs. Since your daughter has a disability, there could be a special provision for her. Good Luck.
in Forum: Humor
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