At a crossroads looking for some advice

[OrderPrintShip]

I've been operating for 2 years selling to re-sellers/brokers doing OK. I have 2 printers both VP-540's running bulk ink so my cost have been low. I decided to originally do broker work because, I worked with plenty of graphic designers looking to pay wholesale as customers. I just finish spending 5K+ developing a custom eCommerce site.

I just got offered a job make 90K plus incentives. Working in my field of study which is alternative energy, The business takes up most of my time and I have a family so i think its going to be impossible to do both.

I enjoy printing and iv'e done ok, it kept a roof over my head, but far from lavish. I would hate to have wasted all that money developing the website and invested so much time make this a viable business.

Not really sure, what i should do
Just hoping for some advice


Thank you in advance

 

[CES020]

Hire someone to run your printing business and take the job for 90K. Win-win.

Is that a possibility for you?

 

[artbot]

if you are making a living at either then that's the beginning at end of the money discussion. the question is how do you feel. literally "feel" doing each job, which really are two completely different lives.

are you happy and enjoying running the printers and keeping up with clients. ...happy with the idea of going bigger and better over the years, or do you find it emotionally bland or even exhausting.

or on the other hand,

would you be happier showing up to work with the security of the energy job, or feel caged as supervisors and bosses monitor your performance?

i've been a workaholic my entire life. been self employed all of them but one year when i was in a partnership (which is kind of still self employment but i definitely couldn't say i was my own boss). the people and pace and lack of schedule freedom was a real shock. after that partnership, aka "job", i was in houston running errands. i thought "what's different about this day that another day during the partnership?" the difference was i was free to be where and when and what i wanted to do. the gray hair has gone away, the blood pressure is much better, and i am back to working shirtless with a beer in hand in my print room and occasinally taking my dogs out for a pee. that's pretty f*ing rich to me.

 

[OrderPrintShip]

Hire someone to run your printing business and take the job for 90K. Win-win.

Is that a possibility for you?

The issue it i operate it out of my home, I've literally done everything sales, design, printing, finishing, shipping. I had some very cool tools developed to help me and make the process easier, but if i hired someone I would have to either take on a new lease and other expenses or let some random stranger into my home with my wife and kids while i'm working in the next state.

 

[OrderPrintShip]

if you are making a living at either then that's the beginning at end of the money discussion. the question is how do you feel. literally "feel" doing each job, which really are two completely different lives.

are you happy and enjoying running the printers and keeping up with clients. ...happy with the idea of going bigger and better over the years, or do you find it emotionally bland or even exhausting.

or on the other hand,

would you be happier showing up to work with the security of the energy job, or feel caged as supervisors and bosses monitor your performance?

I've been a workaholic my entire life. been self employed all of them but one year when i was in a partnership (which is kind of still self employment but i definitely couldn't say i was my own boss). the people and pace and lack of schedule freedom was a real shock. after that partnership, aka "job", i was in houston running errands. i thought "what's different about this day that another day during the partnership?" the difference was i was free to be where and when and what i wanted to do. the gray hair has gone away, the blood pressure is much better, and i am back to working shirtless with a beer in hand in my print room and occasionally taking my dogs out for a pee. that's pretty f*ing rich to me.

Artbot thank you for the response, I agree with you i think this is exactly why I'm have such a hard time, I spent so much time in school and now all this time developing this business and I'm now left with deciding if I want to work for someone else or continue doing my on thing, I also have a lot of pressure from my wife to take the job.

 

[Team Valhalla]

First off, congrats on having the opportunity to run your own business! Second, congrats on the job offer!

I'm sure you've asked yourself all these questions, but here's a few to maybe mull over.....

What's the insurance situation? Do you have it now while running your own business, or maybe you have it through your wife? If so, how does it stack up to the insurance that would be offered with your new job?

What's your personal debt situation? Does having the "secure" job at $90K a year put you in a more stable situation? Where do you see yourself 5 years, 10 years down the road if you take/don't take the job?

Yes having your own business has a great number of perks, but so does having someone else paying your salary. I know you know this... because you're asked the question that you have!

Since you have the investment in all the equipment for your business, what's the possibility of looking at your customer base, picking out the ones that are the best to work with, and keep them as customers... so you still have the opportunity to do something on your own, keep in the loop of the business, and then maybe be able to go back into it later down the road if things don't work with the new job.

If you did that, the customers that you weren't able to service maybe could be directed to another source that may pay you a finders fee or commission of some sort. Maybe not, but you never know.

The last couple suggestions may not be possible, but just throwing out ideas.

I wish you luck! Sounds like you have a decent business going, but also have the opportunity to put to use your education.

Let us know what you do!

SP

 

[artbot]

it's pretty obvious that you don't want to do the energy job. when the energy job is mentioned it comes with comments that have to do with feeling obligated (use the education, keep the wife happy, etc) and when mentioning the job you seem a bit more "into it".

one thing i find odd about comparing is the risk reward ratio. people with real jobs feel like they are killing it when they get a raise. these come here and there and they aren't huge. but it's secure. a self employed person can see that in a year they might be making 50% more than the last year, and... also possibly but less likely 50% less. but there's the risk part of it.

i'd also look at this at a where will i be in three to ten years. a solid energy job can become a real nice thing in ten years and it can also go nowhere. the shop can belly up or have three times man clients plus a nice custom built shop in the same amount of time.

 

[John Butto]

90k a year

90k in New York with a state income tax plus high sales tax is about a 60k job in Texas. If you take the 90k job, have your company match your input in your in your 401k and if the economy stays the way it is or gets better, you might have a million by the time you retire. Do not know if you have a family but health insurance is going to go up and having an employer who might pay for that might also be a benefit. Or stay what you are doing by working for yourself and put money in a IRA every year and pay into your SS so you get your 40 quarters in.
My grandfather use to tell me that the two most important things in life are sex and money, and with a smile said, one out of two is not bad. Life goes by at a pretty fast pace. Do not let a job or money dictate your happiness in life.

 

[artbot]

in my parntership, my salary was $90k (in texas too) and for the first time ever (i'm 46) i paid actual middle class non self employed taxes. it came to $22k for that year plus about $5k in gas commuting to work. no longer could i deduct my house, electricity, car, gas, paper towels!, trips, internet, business lunches, etc. i was a walking tax target. so the math can be a bit funny when comparing.

 

[Z SIGNS]

A bad paying business is better than a good paying job

 

[player]

But the new energy biz might have a better future than the sign biz. How many sign shops can pay 90K to anyone?
Perhaps in the future you can open your own energy biz and make way more than the sign biz. I can't help thinking what Memjet technology will be doing to the trade over the next 5 years. Good luck- I would take the 90K and find a buyer for your existing business.

 

[John Butto]

Corporation

in my parntership, my salary was $90k (in texas too) and for the first time ever (i'm 46) i paid actual middle class non self employed taxes. it came to $22k for that year plus about $5k in gas commuting to work. no longer could i deduct my house, electricity, car, gas, paper towels!, trips, internet, business lunches, etc. i was a walking tax target. so the math can be a bit funny when comparing.

You should have been in an S Corp and avoided the taxes and taken a small salary so as to avoid taxes even more. Got your money in other ways such as a leased company car and getting monies for travel time, deductions for meals, uniforms, health, 401k or IRA's, etc. You were paying almost 25% in taxes. No wonder the IRS were having parties in Vegas, part of it was on your dime.

 

[earplug]

I enjoy printing and iv'e done ok, it kept a roof over my head, but far from lavish. I would hate to have wasted all that money developing the website and invested so much time make this a viable business.

If it really is a "viable business" is has value. Sell the business and recoup your investment. Talk to the designers you work with and see if there are other companies they work with that might be interested in purchasing your company.

 

[OrderPrintShip]

I just finished having a long conversation with my wife, I'm going to take the position, it's real bittersweet

"player" has a good point with newer emerging technologies who knows what the market is going to be.
It's ok now but tomorrow it might not be, I went to school and did a ton of internships i don't want that time to be wasted either.

I really appreciate everyone responses, and opinions. Thank you all for tanking the time out to help me with this.

If anyone's interested I have 2 VP-540's and a brand spanking new site for sale.

Thanks again

Jason
OrderPrintShip.com