Any small business owners from home?

[300UGUY]

I'd lay down until the idea went away. 1st, getting a business loan to start a business is pretty rare, most bankers won't touch you. Retail is dead. Amazon killed it, but only after the big box stores beat it up pretty bad. A friend of mine had a pet supply store. Did pretty good, but then Wallmart came in, squeezed him on the low end. Then PetSmart showed up, with another national retailer? Then Amazon pretty much killed him off.

A trade, as a Electrician or Plumber, HVAC, maybe as a mechanic, is viable. Maybe tax prep. A guy with a skid steer and a dump truck, trailer, could make some money, but its easier if you have some connections to get business. Most builders I know have there own circle of trades guys they call on. if it was easy, everybody would do it. And nobody would make any money.....

 

[Code54]

Not trying to pee on your party but:
Scope rings would be TOUGH - think of all the eqpt you need and the costs involved. Then think about the fact I can get a darn good set for $50 bucks, $100 for high end. So how are you going to buy all the eqpt, materials, design, market, ship them for an amount that would make it worth while?
Rental - You need a bunch more stuff than a skid steer - the rental insurance while be costly, business insurance on the truck for hauling, if you have 1 machine if it goes down, the business is basically closed until it is fixed. Are you equipped to repair a final drive at a customers house, down over a hill, in the mud? (also they will want the rental cost back seeing it broke and they cant use it) Also people will want to rent on their schedule so can you deliver on the days you are working?

 

[MossRoad]

I am researching ideas about small business ownership from the home front or whether or not it's even possible.

I have some property and a 60'x100' barn that needs work. I was thinking of hiring a contractor to replace the plywood and re skin the building to make it weather tight and then possibly insulate it also. If I could find a way to incorporate the cost to do all this into a business loan to get started, that would be fantastic. Preferably, I would like to do something that doesn't get a lot of attention. There has to be something I can do that will utilize this space. I would like to hear ideas or suggestions on the topic.

I think you're asking two questions...

1. What kind of home business can I run and utilize my barn?
2. Can I get a business loan to fix up my business barn?

Once you figure out question #1, you can say yes to question #2.

And I think there's some sort of legal stipulation that the business has to actually turn a profit eventually. From what I hear, the IRS is pretty harsh on business scams for toy storage barn schemes, as I recall.

My father had his own home-based business after he retired. But it was office based (a room in our house), not barn based. He got to write off his very expensive computers, office supplies, phone line, and a lot of his car. But he had to keep extensive records and get a CPA to do his books and file his taxes quarterly, as I recall.

 

[300UGUY]

Not trying to pee on your party but:
Scope rings would be TOUGH - think of all the eqpt you need and the costs involved. Then think about the fact I can get a darn good set for $50 bucks, $100 for high end. So how are you going to buy all the eqpt, materials, design, market, ship them for an amount that would make it worth while?
Rental - You need a bunch more stuff than a skid steer - the rental insurance while be costly, business insurance on the truck for hauling, if you have 1 machine if it goes down, the business is basically closed until it is fixed. Are you equipped to repair a final drive at a customers house, down over a hill, in the mud? (also they will want the rental cost back seeing it broke and they cant use it) Also people will want to rent on their schedule so can you deliver on the days you are working?

Local rental guy here had a very profitable business for 50? years. But he is gone. I could go to Home Depot and rent stuff for half as much.

 

[two_bit_score]

I also considered becoming a distributor of some sort. I was recently looking into buying a waste oil heater and that got me thinking... I have the space and transportation method.

I do work full time but have three days off per week and 9 weeks of vacation a year so I do have some free time available.

Light up that building and get a license for a grow house. It’s Colorado after all!

 

[MossRoad]

Hey, you could rent out the barn space for boat storage. Then charge Mr. Smith (yourself) to store your own boat.... hahaha

Long term boat storage or RV storage IS actually a legitimate business. :thumbsup:

 

[300UGUY]

Several of my neighbors run business from their homes. But most are computer based, IT stuff, or trades guys. My dad had his own business, as does my wife, but not from home. Its nice to get away from your business / job....

 

[Sigarms]

1- I dont have one yet.
2- I dont want everyone knowing that I'm running a business.
3- My intention was to have some space to do what I want. I often go out my back door and shoot my guns.
4- I am in an unincorporated area and I know my neighbor has a small excavation business that he seems to run from home.
5-I understand that but first I need to figure out what I want to do hence the initial questions.

I'm open to ideas. I thought about maybe purchasing a skid steer to rent out as I already have a truck and trailer. I would like to maybe do something that allows me to buy more things that I can personally benefit from also. I also like guns and thought about buying equipment to produce scope rings perhaps and stuff like that. I also enjoy welding and such. Perhaps a CNC plasma cutter and mass produce steel fabrication parts.

I live off a dirt road and I dont want a bunch of traffic coming in and out of the property.

It basically sounds like you want a scheme so you can get a loan for your building and shoot out your backdoor. I know of some guys who have some shooting ranges out back behind their business on their property, but the range was an afterthought after the business was up and running, people know about the business and people are employed there.

ANYWAY you cut it, it sounds as if you are going to need a loan. If it were me, I'd just either take out the loan to make the improvements you want, or wait until you can afford it. I just don't see a bank lending out money for a half baked "work from your home online business" without wanting a business plan from yourself. I can help but wonder why would you need money for something like that? I sincerely don't know and I can't help but think that anyone who lends you money for a start up business will want to know exactly how you plan to make money. All that said, I could be wrong. Good luck.

The boat storage thing sounds like a decent idea, but the first thing that always comes to mind is insurance.

 

[Sonny580]

With todays poor economy, Most home business is a bust.---Internet,big box stores , and the like killed it.
You might try the storage route, IF you can afford the insurance that would be needed.
Backdoor shooting don't sound to me like a very serious business person.
In this area it's get big/greedy, or go under! thanks; sonny580

 

[/pine]

Do you have any special or trained skills?...natural talents?
Just some off the wall ideas...:

Grow mushrooms
Make bio diesel
Restore antiques
Restore furniture

Know you said you wanted to keep it on the quiet side and limited traffic but if you really want to make some money...build a bunch of pews and open a church...or if you have any native American heritage in your family...maybe a bingo hall...!