So a few years ago there was a moment -the idea! It sounded fun! It would enable a dream to come true. Freedom!…Maybe?
Like many, there was a moment of inspiration. For some, it comes hitting rock bottom. Whatever it looked like for you and however you got inspired the point is you did.
“Great — now what?” How does one take their 2 kid, 2 car family in a rural town and get to a point where they can launch a new dream. The truth is it was going to take time, money, and many crazy stories.
A business plan, a pitch contest, a small business launchpad course, and two years of life had passed. Once that was done it was time to lease a commercial space to launch. Too expensive, and in some cases getting out hustled trying to get the perfect space.
Frustrated and also fearful that on jumping into this a little to aggressively it was agreed that there might ways to build up experience running a business while still working and looking for space.
It started with buying a rental property, then a laundromat. Both cash flowed and both offered experience operating and managing people, cash, expenses, and overhead while still working and taking care of kids.
Eventually, a place for the business was found. Luck played a part in being able to purchase the building the business is in. By the time the real estate deal closed there was already a year of running other businesses, incorporation, and the onboarding of a bookkeeper, accountant, and lawyer. People that have been critical to building from.
On the foundation layer of what was built are real estate assets and also steady cash flow. Both layers seem to be sure footing for the long term and have enabled the business to attract the clients it can best serve.
As tempting as it was to rush and take on loans, etc it was noted that this path seems less traveled has worked the best in this particular situation with an outlook for the present and the next 20 years.