Pest Control Future and/or College?

Discussion in 'Starting a Business' started by QPOWELL, Nov 20, 2012.

  1. QPOWELL

    QPOWELL
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    Hi, I am at a stopping point and thought it would be good to get some advice from professionals. At the moment I am 15 Years old and starting to look into my future. My dad owns a Small, but quite successful pest control company and a maid service that averagely makes a gross income of $200,000 a year, but I want to go into the field of architecture/drafting & design. My plan I thought would be is when I turn 16 or 18, work for my dad, who has been in the business for roughly 20 years. While working for my dad I will get my basics done in college while saving money back for a down payment on a loan so when I finish my basics. I can go and get a loan and buy my dads businesses for about $40,000 to $50,000. Then keep him as a Top manager for his expertise while I finish my college and be able to open a 3rd business for my degree and start it most likely in the east Austin area while expanding the other 2 businesses increasing income for all 3, Since I can advertise the pest control and maid service at the same time of house or other structure construction completion. Any advice corresponding to this idea, or if you have any other ideas or advice will be very helpful in my situation. Thank you Sincerely,
    QPOWELL
     
  2. altcom

    altcom
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    Question, your dad owns the business why you still need to loan and buy the business?

    Do you like pest control and maid business? If the interest is not there, it will hard to continue.
     
  3. Fergal

    Fergal
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    Welcome to Business Advice Forum QPOWELL, I admire your ambition and forward planning.
    If that's where your passion lies, I'd recommend that you focus on that as much as possible. To be really great at something requires putting in a huge amount of time, effort and focus. It's difficult to put in the commitment required if you are also working in a different area. How does that sound to you?
     
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  4. QPOWELL

    QPOWELL
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    To answer your question altcom, my dad has never been good at planning in advance so even tho I am his son he will still only sell so he has retirement money. Also, I do like the pest control and maid services, but to an extent. Another main reason I thought of when thinking of this plan is that even if something goes wrong on either of sides (dads businesses or my degree) I will have something to fall back on, and still be able to support a family if I have one at the time or any expenses of the present time or future. As of fergal, my passion does lie in architecture and drafting and my dream is to be one of those big company head architects that make all those big skyscrapers and buildings and be able to look into a city skyline and say, "see that building, that one is mine". But I also must have the reasoning to know that if something goes wrong I'll be able to support me and my future family so that is why I need and want to have that financial stability. However I do see what you mean by following my dreams.
     
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  5. MoneyTrack

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    It sounds like you really want to be an architect. Now is the time to pursue that! I would devote as much time and effort to that while you are still young and relatively free (one day you will likely have a family to take care of, then pursuing your dream may have to take a back seat). However, maybe those other businesses can help provide a means to an end (your eventual goal of being an architect). I would be sure to keep dad around if you're not able to be a full time owner.
     
  6. sigma

    sigma
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    That's too early to say either go to the architecture/drafting & design or pest control business. No matter what, you can still run your first stage plan
    And then only you decide to go for the architecture/drafting & design or pest control business. Freaky speaking, it is nothing wrong to further study on architecture/drafting & design. You can choose whether still want to work on architecture/drafting & design field after you finish your degree. If you feel pest control business is still better choice, then you can still move back to the pest control business.
     
  7. dojo

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    If your dad's business is making 200k/year I find it hard to believe you can buy it 'off' for 40-50K. Anyway. I would work with him until you're older. Ideally you should get a LOT of first hand experience on how to run a business. Do your college work and see what you'll like to do afterward. You can follow your passion or maybe you'll love working at your fathers firm for the rest of your life. Anyway, the experience will be very useful to you.
     
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