Need some advice - Page 2

Minty ..

Cons: business set up, hard to take holidays - finding and trusting staff to manage without you ..is very difficult, no sick days, staff management, insurances, overheads, time - it's not 9 -5, everything is your responsibility - other people's livihoods , you need to give 110% every single day

Pro: once you work for yourself it is difficult to go back and work for anyone else. Money, you get paid for the 110% you put it. .. its basically just the money lololol and the satisfaction that you can do anything you want I suppose.

Originally posted by: Clochette

What does your lover think about that?

Happy minty , happy home ❤️

Hey mints... I own 2 businesses one is that of exports and another is that of a cafe...lemme know if there's anything u need to know

P S. I started off at 19 now I'm 26 and settling in 🤞🧿

Starting your own business or freelancing becomes a 24/7 job.

Yes, if and when you are a successful entrepreneur, you can set up passive income streams and have plenty of free time. But, until you get there, you will work your ass off.

Freelancing typically has lower risks as you don't have to invest massive amounts in office space or anything. Just business cards, supplies, and a lot of time and effort making contacts and building your network.

A business that requires physical space and/or inventory is much higher risk as you will invest a significant amount of money right up front and spend months recovering.

In that, food service is the riskiest. In addition, to planning, staffing, promoting - you are dealing with a lot more challenges like health and safety inspections, dealing with perishable products, etc. About 60% of food service businesses fail in the first year. 80% fail in the first five years. Food service includes cafes, bakeries, etc.

That is why a lot of chefs are going pop up route or renting commercial or community kitchen spaces to make packaged refrigerated or frozen goods.

Post corona I did open my own business page, sold alot of skin care products, household items, earned alot of money and then I spent those in buying stupid stuffs😭

I want to get back to business again. Start by researching what sells good in your city/area. Find a good wholesale market, buy few items for experiment and try selling them.