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Tough Question to answer

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skyhightree1

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I had a young man who I hired as summer help that has asked me a question that honestly I didn't know what to tell him. He said he wanted to start his own business but only would be able to come up with 15k from his savings and maybe more help from his parents. He is 17 last year in high school but is working saving money to use on a business. He asked me what kind of business should he start and I told him I truly have no clue. I told him mines up and down depending on the economy as well as the weather and time of year. I truly don't want to steer him in the wrong direction as I told him everything you do is a gamble some times it pays sometimes it doesn't. What would you suggest to him ? I was thinking of plumbing after he goes to school for it. What say you ?
 

jltrent

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A lot depends on his demeanor (type of person he is) white collar work or blue collar work.(suit/tie or coveralls type).

If he has the interest diesel/auto/small engine/chainsaw mechanics/repairmen. When younger I thought about starting a collection business as it is in demand everywhere. (The local banking/finance institutions will keep you busy. I was good at it working in the banking business.)
 

ALACOWMAN

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15k savings at 17? If I had a 20 at that age I could have bought the world...if I was 17 again it would be in welding or auto body repair.though I can do body work I ain't where I could have been..
 

Rafter S

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Plumbing isn't a bad idea, if he likes the work. A friend of mine has a small plumbing company and says he used to be a doctor, but it didn't pay enough.
 

Son of Butch

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I'd suggest he customize it to his talents and what he enjoys doing. Attitude about what you do for a living goes a
long way in maintaining enthusiasm. What does he know and what is he good at?

With very little life experience (soon turning 18) and limited work experience perhaps consider a franchise in his
area of interest. Most are spendy, but there are some you can get into for under 25k and sweat equity.
 
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skyhightree1

skyhightree1

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True Grit Farms":2mimn6hn said:
Lawn maintenance.

I was thinking about that but so many here

jltrent":2mimn6hn said:
A lot depends on his demeanor (type of person he is) white collar work or blue collar work.(suit/tie or coveralls type).

If he has the interest diesel/auto/small engine/chainsaw mechanics/repairmen. When younger I thought about starting a collection business as it is in demand everywhere. (The local banking/finance institutions will keep you busy. I was good at it working in the banking business.)

He has been doing labor jobs now for 2 years last year he was helping a mason. He doesn't mind working for sure. I never thought of a collection agency maybe I should ask him about that.

ALACOWMAN":2mimn6hn said:
15k savings at 17? If I had a 20 at that age I could have bought the world...if I was 17 again it would be in welding or auto body repair.though I can do body work I ain't where I could have been..

Yea he must save every dime he has earned since he started working but I got a feeling his grandparents helped the funds out a lot since he has a sticker on his car saying sponsored by grandma and grandpa. Welding may be a good thing and fairly inexpensive to. Auto body would be good but I don't know that the money he says he has would do it.
 
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skyhightree1

skyhightree1

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Rafter S":191rnvof said:
Plumbing isn't a bad idea, if he likes the work. A friend of mine has a small plumbing company and says he used to be a doctor, but it didn't pay enough.

Considering the sheer number of homes here I figured it would be a good thing.

Son of Butch":191rnvof said:
I'd suggest he customize it to his talents and what he enjoys doing. Attitude about what you do for a living goes a
long way in maintaining enthusiasm. What does he know and what is he good at?

With very little life experience (soon turning 18) and limited work experience perhaps consider a franchise in his
area of interest.

He seems to have picked up a lot from working with the mason and such hes energetic and willing to work doing anything and open to learning.
 

Txpiney

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Alot will have to do with his aptitude. I've seen many a young man want to be a mechanic, but not enough mechanical aptitude. I think you have to be honest with yourself and say self, what am I truly best at. But, running a business you also have to have some business sense.
 
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skyhightree1

skyhightree1

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Txpiney":hx3dahoe said:
Alot will have to do with his aptitude. I've seen many a young man want to be a mechanic, but not enough mechanical aptitude. I think you have to be honest with yourself and say self, what am I truly best at. But, running a business you also have to have some business sense.

agreed

M-5":hx3dahoe said:
They are paying welders in VA 20k a month

I am in the long line of work I got all my certs maybe I should look into that myself :lol:
 

Brute 23

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X2 on lawn maintenance

If he is good and treats people right he will rise above the rest.

Plumbing, electric, carpenter, painter... any of those or some thing similar.
 

HDRider

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Working toward a plumber's license with an eye toward owning a plumbing business is a good idea. You can substitute electrician if you want.
 

Jogeephus

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Go to trade school and learn heating and air. If he doesn't have good business sense he will make a good living but if he will do what he says and has good business sense the sky is the limit.
 

sstterry

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M-5":16cturts said:
They are paying welders in VA 20k a month

I took welding 40 years ago in my father's shop class, you can just go ahead and sign me up!! :shock:
 
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skyhightree1

skyhightree1

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Son of Butch":rhx727yj said:
Milk is cheap, he could start a business making Artisan cheeses. He has access to a major local market selling to Sky.

He would make alot of $ off of me
 

tater74

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My younger brother has a friend that has been "retired" since his mid 30's. As a young man, he bought small fixer upper homes on contract, fixed them up and rented them out. He would occassionally sell a few of them and buy more. His full time job was as a cook in a local restaurant.

Cash flow from the rentals enabled him to quit his job and collect the rent each month. Had I been smarter 40 years ago, that is what I would have done.
 
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skyhightree1

skyhightree1

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tater74":3b6ezd11 said:
My younger brother has a friend that has been "retired" since his mid 30's. As a young man, he bought small fixer upper homes on contract, fixed them up and rented them out. He would occassionally sell a few of them and buy more. His full time job was as a cook in a local restaurant.

Cash flow from the rentals enabled him to quit his job and collect the rent each month. Had I been smarter 40 years ago, that is what I would have done.

I been fooling with houses and such too.. it is good money but the $$ he has available currently he wouldn't be able to do that.
 

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