Internosis - knowledge management,ecommerce and project consulting
*Home>>>Business Shopping

Should I expand, close or what to my exhausting Side Business?


I have a full-time job and computer repair side business. I'm considering stopping my side business and I would like some outside suggestions/opinions. Locally I'm a one-person shop known for high customer service computer repairs. My clients love our service and go out of there way in recommending. I have a very high rating on other review sites compared to competition. Issue is that I'm exhausted with the up and down work but I'm not making enough money (that I can see) to hire someone or expand. I think due to my exhaustion I've been having more problems correcting the computer issues (brain's not working the same). I'm in a lot of debt and thus used the side money to help. So I would like suggestions. What are some options in expanding if applicable? What would you do? Should I stop all of this to keep my sanity?

Income Breakdown (profit)
Average ~$$2,000 profit
Current Month (July - up to 26): Gross 5K, Profit $1,200.

My day job hours: 5AM-1:30PM
My side hours (really any time)

As a note:
I've attempted several businesses in the past and generally lack stick-to-it-tivness (I have a hard time staying with the business during the hard times). My most successful, profitable business was a computer store I had. I was young though and my parents needed to move away (which I was living with them). The logical way would have been to get an apt but I decided to move with them (I'm used to family and not sure being alone thing would have worked).

So then I closed shop and moved. I would LOVE to get back to where I was before with the shop but it's been hard with the side job plus the regular job and now I feel I will just crack.

A lot of work done with my side job is not billable. I service home users that a lot of the time end up with the "is it just better to replace my computer". I lack skills in server/networking that would allow me to market more to businesses. I can work with small businesses but I am limited and thus my comfort level is desktop home break/fix

It sounds like you are great at fixing computers but don't have the energy and patience to be an entrepreneur. You would be better off working for others and taking side jobs like you are now, but not as many so that you can maintain the quality of your work.

You need to make sacrifices to get rid of that debt as fast as you can to reach a point where you are only paying for your current living and not for the past and then you can better handle the ups and downs of a business. Then you should start saving during the up times to allow more spending during the down times.

Later, when the opportunity arises and you can better handle the ups and downs, you can consider working with a partner where one of you will work in a computer store for a low wage and the other will fix computers on a per job basis, also for low pay, then after the business is going, make decisions on using extra profits for reinvesting in the business and increasing the salaries paid to each of you.

Consider selling your business (customer lists, assets, etc) to another computer repair business or hire someone to do the work on commission from your profits. You may have to raise your prices but if you've established yourself, your customers will understand. It is often value that sells your products and services... not pricing!!!

Consider takeing on a partner and share the work-load and the profit 50/50 that way you could take some extra time off and we know there are outher talented people out-there hopeing to find any means to gain some extra cash.

Hi, I would like to comment, make a suggestion, and help you out but not allowed to post anything here so you can email me if interested.

Doc has a pretty good idea. You would start out with a bit less money, but by being able to take on more work-It would end up being more money in the long run.

Sounds like your debt load may not wait while you do these changes. May I suggest having a Financial Needs Analysis done? It gives you a clear snapshot of your financial status and a print out page of the best way you can fix it yourself. You can pay to have one done or get a Free on at http://www.primerica.com/kathyreilly

Tags
  Business Consulting   Business Solutions   Business Applications   Business Shopping   Business Website   Business Hosting   Business Software   Online Business   Internet Business   E-Business
Related information
  • Where do you go to for a job interview?

    if they did not tell you on the phone, go to the customer service desk. go to them, and tell them your name (first and last) and say i am looking for mr. soandso (use his or her last name!!!), i ha...

  • I have an opportunity to start another business and need some input.?

    Just off the top of my head: Credit counseling service Everything's a dollar store Day old bread store Liquor store Tobacco store Coffee shop with wi-fi access Discount cleaners Tax ...

  • What happened to the White Barn Candle Co.?

    There are still some available online so they didn't go out of business, but maybe just are limiting the stores they sell in.

    ...
  • Back to school shopping list? What can you add?

    maybe a backpack or a bigger bag? edit: accessories like necklaces, bracelets, earrings, headbands, clips...

    ...
  • Can Property Managers do this?

    You don't have a lease. Of course the owner can do this. It's the chance you take in business. They are only responsible for providing space on a month to month basis, not insuring the pr...

  • I am a dog groomer and need ideas to bring in more customers does any one have any ideas ?

    try hosting an open house- with dog treats- people treats host a dog makeover contest with before and after pictures- with a grand prize- let customers vote promote your local animal shelter- don...

  • Clothing retail store business managment?

    When buying property for your shops keep in mid that renovation is far more cost effective than buying a new shiny shop. If you buy an old property for 拢250,000 and spend ~拢2,000 on renovation, you...

  • What do i have to lose by starting my own drop-shipping business via ebay?

    Not much but who knows

    ...
  •  

    Categories--Copyright/IP Policy--Contact Webmaster