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First off, I'm glad I found this site last night. So far, I have spent about four hours perusing through threads and posts, along with ordering the TMF book which I am stoked to read once it arrives.
My background: I dropped out of college after realizing that I learned so much more from talking to real people and reading books than I did by spending thousands of dollars on school. Although I knew that college wasn't for me, it took me three semesters before I finally called it quits.
Sometime while I was in college, I decided to buy my first business, a shave ice shack. It's been alright. The gross ROI to date is 2,937% in four summers. Decent.
I took most of the money that I made from the shave ice shack and opened a coffee shop in February of 2016. As I'm not a big coffee drinker, my only initiative was to make money and open more coffee shops. My mom, however, is a coffee fein and since I knew she hated her job at the time, I decided to let her be the manager of the shop so that she'd be happier and so I wouldn't need to worry about hiring someone else for that job. Well, it turns out that coffee shops aren't cheap to open, and aren't cheap to operate while building a clientele. The shop only breaks even, at best, which is better than it was doing but that's not saying a whole lot. The location is terrible. I didn't do enough research before opening. I can't close it down yet due to the lease, but when that time comes, it'll be a delicate situation. I guess this is why you never hire family...
I have had to move back in with my parents and deadbeat brother. My time is fairly limited as I work many hours every day in the coffee shop. I don't like serving -or drinking- coffee, though. My bank account is dwindling and credit cards are maxed out. I'm temporarily stuck. I haven't yet figured out where to go from here.
If you have suggestions, general motivation or criticism, let's talk.
My background: I dropped out of college after realizing that I learned so much more from talking to real people and reading books than I did by spending thousands of dollars on school. Although I knew that college wasn't for me, it took me three semesters before I finally called it quits.
Sometime while I was in college, I decided to buy my first business, a shave ice shack. It's been alright. The gross ROI to date is 2,937% in four summers. Decent.
I took most of the money that I made from the shave ice shack and opened a coffee shop in February of 2016. As I'm not a big coffee drinker, my only initiative was to make money and open more coffee shops. My mom, however, is a coffee fein and since I knew she hated her job at the time, I decided to let her be the manager of the shop so that she'd be happier and so I wouldn't need to worry about hiring someone else for that job. Well, it turns out that coffee shops aren't cheap to open, and aren't cheap to operate while building a clientele. The shop only breaks even, at best, which is better than it was doing but that's not saying a whole lot. The location is terrible. I didn't do enough research before opening. I can't close it down yet due to the lease, but when that time comes, it'll be a delicate situation. I guess this is why you never hire family...
I have had to move back in with my parents and deadbeat brother. My time is fairly limited as I work many hours every day in the coffee shop. I don't like serving -or drinking- coffee, though. My bank account is dwindling and credit cards are maxed out. I'm temporarily stuck. I haven't yet figured out where to go from here.
If you have suggestions, general motivation or criticism, let's talk.
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