What would you do?

[hoss 2000 z-28]

Alright guys, the company I work for is going through "restructuring" and people are getting laid off. I've been here for awhile and I'm good at what I do but I dont think my job is safe.

I've got an opportunity to start my own LLC and score a contract for as long as I want to do what I've been doing for the past year (running a car rental business). This would require that I leave the company I currently work for, establish an LLC where I would act as the sole proprieter, and the company I used to work for would hire me as a contractor to run their store. My LLC would earn a nice percentage of all the action. The only overhead I have would be cleaning supplies for the cars, garragemans liability insurance, and after 3 months of operations, rent.

On one hand I could make a lot more $$$ and help my woman pay off her student loans fast, pay off the house fast and stuff like that. Thats the good news. The bad news is that I'd be working 6 days a week between 45-50 hours/week, have ZERO vacation, ZERO sick days, etc. because I'd be running the place by myself. Looking at last year's business I don't think I could hire someone and make it worth my while.

My woman is finishing grad school and already has a job lined up making about triple what I make now. She wants me to work part time so we can go on weekend excursions, take vacations, see family, etc. But it would take a lot more time to get out of debt.

So where does the alternate job come in?

Over the weekend I hung out with an old bowling buddy from high school at the bowling center we used to frequent and the owner saw me and asked what I was into nowadays. I told him about my business opportunity and he said, "I remember you used to want to manage a bowling center. You never came back last time... Come see me before you leave."

(About 5 years ago he said the same thing and when I met with him with my resume' and filled out an application, he never called me back. I was applying to many different places at that time so I ended up taking another job and forgetting about it. If I remember correctly the management job pays about what I currently earn).

So anyway, I could not find the owner anywhere when I was leaving so I left my name and number with the lady at the desk who knows me from way back when and told her to give it to him. I'd be lying if I said I was not interested in running a bowling center.

So, the question is, should I start the business and get rich at the expense of personal life or should I just take a new job and be happier?

[Nitro_Junkie97]

it would be hard with the new business at first but after a few years you could probly be making enough to hire some help and take some time for yourself. i guess its all just gonna take some time.

[GULLETT17]

i'd go with the new job first . . . you have plenty of time later in life to start your own business. this will give you plenty of time to plan out exactly what you want to do for your own business. you never want to rush into your own business, seeing that you are kinda rushed with your current company possibly laying you off soon. im the kind of person that never thinks your job should take away most of your personally life, thats not what life is about to me. your woman's plan of workin part time so you guys can go on weekend excursions, take vacations, see family, etc sounds like a good one! for now atleast

[Eugenio_SS]

6 days 45-50hrs... no sweat... my 1st 2 years were averaging 90hrs/week, with peek weeks of 140+ hrs.
I'd wait a week or so to see if you get laid off... take the package and start the LLC.
If you don't get laid off, start the LLC in a 2-3 week time period.
who cares about 0 vacation, holidays, etc... you just budget it.

[99 SH]

140+ hour work week?
jesus fuck!

-edit-
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why does this have me as registering in '05?

[hoss 2000 z-28]

I appreciate the responses, guys. I have sent in my articles of organization to the secretary of state and already received my EIN with the IRS. The LLC is in effect. I am going to give this a shot and see what happens. If I fall on my face then so be it, I'll just take some time off and find something else.

[gwballin]

I appreciate the responses, guys. I have sent in my articles of organization to the secretary of state and already received my EIN with the IRS. The LLC is in effect. I am going to give this a shot and see what happens. If I fall on my face then so be it, I'll just take some time off and find something else.

Looks like you've already made your decision but since what has been done can be undone I’ll offer some advice.

Since this “opportunity” has arisen since your current employer (soon to be client) is going thru a restructuring you must ask yourself why is this deal good for them?

While it is entirely possible that this arrangement could be mutually beneficial I’d say it is much more likely that they are exploring this option because it shifts the costs of doing business (specifically tax, supplies, record keeping requirements, etc.) from them to you.