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Hello Ladies

I have come to a crossroads in my life. I currently work for a company that pays well, pays for mine and my husbands health insurance 100%, I have a 401K set up with them and there are lots of other little extras(ski pass, health club membership, etc). The problem is, I am BORED to death and its not my passion, not even close.  I also own a catering business and have come upon the opportunity to maybe open an actual store front with option for a small lunch shop and a place to cater out of. My business partner and I are currentley cooking out of our houses and its a big burden on our everyday lives to have catering stuff strung from one end of the house to the next. I feel really good about this new oppurtunity but I am scared to death to leave my comfort zone with money and benefits and all that jazz. Plus I have my husband and mortgage to think about as well. My business partner isnt married but owns her own place. I just need some advice.. I know happiness is important and I really want to do this.. but how do I take that first step????? Please help!!! And I am being crazy leaving all the "jazz" for my true passion?

Paula is right on, Enye.

Consider using these articles in the "Self-Employed Women" section of the site, too:

• Test Your Business Idea


• Are You An Entrepreneur at Heart? Go Out on Your Own With Your Employer’s Help


• Write the Right Kind of Business Plan

Dana_B says ...

While I do agree w/ going for a job that you love, considering what you've told us, I'd be a bit more practical. How is your business going now? Do you have the fiancial backing to truly go for it AND quit your office job? Is it possible that there are other avenues (promotion/more responsibilities) available at your office job that would satisfy you? This, however is what I would want to consider if I were in a position where I really wanted to make the change w/ risks like yours involved. Is it possible to work part-time (20-30hrs) at the office while you get your business further in gear? What is your relationshio w/boss like? Are there any ppl there who do part time? Best of Luck!!

I agree with you Dana.  The initial start-up cost for a business may not be realised within the year;  seing that you have financial obligations that must be met monthly, weigh the pros and cons.

Enye,

The key to happiness is not in getting what you want.  It's wanting what you get.

There is so much that you have not told us about your situation (kids now or in the future? your age? does hubby work? how's your/his health? how does hubby feel about this? have you ever actually worked in this environment full-time? How much starting capital do you have?  Do you have a full and complete business plan?  Are you aware of all the business and licensing and health dept issues involved in starting a business at the location you have in mind?)

Restaurant and Food Service is one of the easiest businesses to get into because the entry barriers (i.e., start up costs) are low.  It's also why so many of these businesses fail.  Easy to get into but not as easy to succeed.

Before you do anything, make a full and complete, professional, accurate business plan going out 3-5 years and have a small bank or small investment house review it.  And then listen to them. 

Get real insurance quotes (in writing) for health care, AD&D, Short and Long Term Disability etc.  (There are ways to  be creative so if you can't find a good creative insurance broker, write to me for some ideas.) 

Don't forget that ugly little thing called "Self Employment Tax."  It's a killer. 

Also, even at the beginning, you'll need at least one employee.  Don't get me started with the burden (financial and emotional) of being an employer.

Be aware that your employer-provided health insurance and your 401K are gifts from heaven.  Do not undervalue them. 

As a matter of fact, I think you have a pretty sweet situation.  How about looking for ways to make yourself a little happier and less bored at work instead of pining away for your untested idea of what it's like to run such a business.  Have you interviewed many people who are doing what you are considering? I bet there are negatives like you wouldn't believe....

I hate to be negative but cooking and catering is a wonderful side-business and a wonderful avocation.  There are only about 1,000 ways to get into that business "one toe at a time."  Rent a kitchen if your "on the side" jobs take up too much space.  It's tax deductible.

This is not an all or nothing decision and I think you'll be making a mistake if you see it as one.

Best of luck,

Maddie 

yes, yes, yes, you should follow your passion!  HOWEVER, since now that you are also responsible for others, you need to consider their well-being with any decision you are going to make.

I was a Food and Beverage director in my last career life and this industry is a "killer."  it is almost a consuming industry, that is lots of time, perishable inventory, dealing with "whims" of people (customers, vendors and employees), weather, etc. etc.  I was in this industry for almost 15 years and it was the best time of my life at that time!  Lots of parties, fun, meeting lots and lots of people and being part of many happy memories in people's lives, etc. etc.

i also am an entrepreneur for 15 years and going... Money, money, money is what you need when starting a business.  remember, nothing materializes for about 3 years.  can you handle this?  partnership, well, well, well...this is worst than an ugly divorce when things do not go right!!!! careful and make everything legal, it is worth the expense.

But having your own business and watching it grows is one amazing experience!

I say, give it to the gods and listen to what they have to say...actually listen to your heart!!!

here's a big wishing star your way!!!

Enya, I've just re-read my posting and if, as Dana does, you feel that I was "blunt," (i.e., not sensitive to your feelings), I apologize.  That was the exact opposite of my intentions.

You asked for advice.  As I mentioned, I feel the need to know many more things about your situation to make a full evaluation.  However,  based on the information provided by you,  my training, education, professional, and life experience leads me to suggest that you be certain to look at this complex situation very thoroughly, very analytically, very unemotionally and with a mind that is very open to alternative means to your ultimate end--which is not "to have a catering business," but rather, "to be happy." 

In 3 years, I don't want you to end up having exhausted your savings, lost your home, undergone any illness without adequate insurance, and  having lost your friend and your business partner, and put your marriage in jeopardy.

By all means, "follow your bliss."  But just in case your "Bliss" gets bored, changes her mind, or loses her way, make sure you also have a road map in your back pocket for when "Bliss" turns to YOU for directions.  In this case, the "road map" is a solid business plan and the maturity to recognize what will truly make you and your family happy in the long run.

Ok..so to answer some questions.. I am 28 and ready to do something REAL with my life. Sitting in a cubicle all day is killing my spirit and my drive. My husband has a very good job and could probably support us fully with his salary. My business partner and I are friends but we definitly have our seperate lives and I think thats why it works so well. We are both at a point in our lives wherewe are ready to do what we think we are meant to be doing. Kids.. if it happens, it happens. I am not even close to wanting kids and I want this more right now. We have a business plan and have talked about this for almost two years now. We were originally going to start a restaurant but instead decided catering would be a better bet for us at the time. I have a great relationsip with my boss at work and I know I can either work part time or they would welcome me back anytime. As far as the space is concerned, it's  small space..323 sq ft. we will be doing lunch take out, our catering and my business partner just did her first wedding cake this weekend. We see a great need in the town we are in for certain things. we both grew up here and have watched the valley grow (we are 20 minutes from aspen, co) so we watch the ecomony and the businesses going in and out of this area. We are trying to be as cautious as we can but we also don't feel like we are biting off more than we can chew right now. Just with our catering on the side, we would be able to pay the bills on this place... soo I hope that helps everyone see the bigger picture!

I am taking into consideration all the things you ladies have said.. its the scariest thing i have ever done!! I am scared but at the same time, my heart is telling me its time to move on and upward in this crazy world. and I am totally willing to work as hard as I can to make sure my marriage and our financial situation is stable. anyways.. now I am just rambling.

UPDATE:

I have decided to go forward with this decision. So we close on the business on Friday and the space is ours!!!!! Thanks again for the advice. I will let you know what happens in the next couple months with our business!!

 Hello Enye,

Congratulations on opening the door to the next new phase of your life!  The 5 exclamation points in your last post is already showing us how much this means to you, and how much happiness and excitement you must be feeling.  May you continue to follow your heart (with your head on straight) and may you find joy in each and every day.  All my best to you.