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My mother and father want to start a business.
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My mother and father want to start a business.

A tow truck business to be exact, towing cars and shit. My grandmother has about $100k she is going to give them as a start up. They plan to move to Florida, and start their business there. Neither of them have business experience, neither of them have a degree of business studies (Or anything related).

Am I wrong to think this is a retarded plan, and will most likely fail?

Should I voice my concern? Or should I just let them to do them?

They're both early 40s, and if this fails they will most likely have nothing and will work until they die.
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>>1024956
So they're moving to a new town where they don't know the market, the people or the competition? That is going to be a problem.

The second problem is being handed all that free money. They will certainly blow it. I could start a towing service on $8k. Having limited funds makes you work harder and spend smarter. Having free money leads to laziness and unnecessary expenses.
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>>1024978
Yeah. I don't expect them to succeed, but whatever. I'm not going with them, I'm going to be hundreds of miles away. So I'm just going to watch them fail from far.
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My ex employer did this. The tricks he had to make him successful include being a mechanic, having a garage with 3 bays to take the vehicles he started with 1 truck, and 1 bay. He had sons to drive his trucks as he got more trucks. Once you have 24/7 coverage get a AAA contract to fill your mechanic bay. The trick is to anticipate why people need a tow, and capitalize on it. He also did recovery until his kids were getting shot at (chicago). There's alot more to it if interested, I have thought about going this route and learned alot from someone who currently runs the office of his mechanic shop with no license and I tanked from 9-5 because he is the boss. Must be good to sit on your ass and run shit with a coors lite in hand.
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>>1025015
You really should stop them. $100k isn't a trivial amount of money. If you took that, put it in a safe fund that returned 7% annually on average, you'd have a healthy $700k+ to take with you to retirement in 30 years.

That's not even the best way to use 100 grand, but it's better than what your parents are doing.
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>>1024956
I can guarantee you they will fail. You could start up with half of that. It's also an incredibly competitive business no matter where you go. You have to try and undercut other pick-ups while speaking with a person that was likely in an accident, an accident that could have killed someone for all you know, to try and determine if they have the money or insurance for a tow. You end up in what could easily be one of the shittiest days in the clients life, and you have to play the part of a business man.
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>>1025034
I'm just the child in their eyes, they would never listen to me. I've somewhat tried to tell them they're not going to find happiness, or the American dream, or whatever there. But do you see how there is no way they would listen to me?
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>>1025038
Also the biggest expense, minus capital for trucks is insurance.
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>>1025039
Because you are saying it like a pussy.
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>>1025043
This. Your too Feely and not objective at all. Nut up faggot
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100K? Move to Detroit buy 7 houses and fix them up for 75K, section 8 those houses and get a Mexican to be your handyman. You'd clear about 5K a month.
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>>1025043
>>1025046
Maybe. But we've already had arguments over their move, our relationship is already strained so I just just forget it and I'll let them fail on their own.
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>>1025052
What do you do for a living?
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>>1025065
College student + part time medical scribe. Mainly living off of the fuckton of grants/merit aid I received.
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>>1025070
Are you capable of working with your hands in a labor environment ie: not a puss or disabled? If your disabled disregard my puss comments please.
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>>1024956

>A tow truck business

why do they want to become human garbage?
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>>1025076
If you're suggesting I go down there with them. Why would I do that? I have my shit together up here in NY. I'm not going to completely change my life just because they're having a mid life crisis and are literally being handed a free 100k to fuck off with. Besides, I'm in ROTC.
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>>1025080
K, if you have a path you like, keep on keeping on good luck. I personally see an opportunity to create something that could be a legacy and make ALOT of money if done right. I would support family and help them, but I was raised with an emphasis on family and wanting to see them succeed. With 100k they can definitely go far if done right. If you want to see them succeed help however you can, research of the market is the first thing that comes to mind. I wish I could talk my folks into something like that. Be set for life.
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>>1025089
They're not doing it for the right reasons though. They legit want to get rich quick, and this is their plan.
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>>1025093
Oh shit. Well that's not going to happen they could probably make 6 figures after 6 years. But if they want to do it right they need as many trucks as possible. Gl to them man, they're gonna need it.
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Why Florida specifically? Has the proper research been done for selected areas? When will you break even? When do you see to make profit? If you invest a $100k and you can't calculate when and how you will break even, don't even consider doing it.

Tow trucking is meh.
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>>1024956

Like all fields with a lot of competition, the winner will be the person with the best handle on the logistics of the business and who executes the best- works the hardest.

I have a feeling that will not be your parents op
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>>1025271
I don't know to what extent they have done research on. But I do know that they chose Florida because they like Florida...

>>1025276
I have the same feeling. I love my mother, but when it comes to work outside of the house, she's out of her zone.
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