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Forum -> Household Management -> Finances

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amother

Wed, Jul 13 2022, 4:04 pm

I’ve seen a few members mentioning bringing home 250k+ from a small business they run. Can you share what business that is and can you explain how one starts such a business.

amother

Bronze

Wed, Jul 13 2022, 6:49 pm

I’d also love to know! Business owners who are raking it in, please spread your knowledge!!

amother

Tangerine

Wed, Jul 13 2022, 6:51 pm

Same here! I want to start a business! Any tips or ideas?

amother

Mintcream

Wed, Jul 13 2022, 6:53 pm

My DH has a successful business bh, I feel like I need to warn people it took 8 years of struggle and debt to get to this place. It’s not all rosy.

amother

Glitter

Wed, Jul 13 2022, 7:51 pm

Following.
Yes I know it takes time to build up.

amother

Opal

Wed, Jul 13 2022, 8:01 pm

Also you only hear about the ones who succeed and make 250k. Nobody talks about their struggling business that barely breaks even, and for sure not the ones that go broke and owe the bank or their parents 250k for their startup loan.

amother

Honeydew

Wed, Jul 13 2022, 8:02 pm

amother [ Opal ] wrote:

And no one talks about the blood, sweat and tears, not to mention the massive amount of hours, it takes to start and build a business.

amother

Papayawhip

Mon, Jul 18 2022, 9:58 pm

Following…
I’d love to start a business as well
I know it takes time to get results but gotta start !!

Pls share ideas!!

amother

Catmint

Wed, Jul 27 2022, 7:53 am

Following.

amother

Sand

Wed, Jul 27 2022, 7:56 am

My husband started and failed at 4 jobs and 3 businesses before he was successful.
We had times with zero dollars.
And he works his head off.

amother

Snapdragon

Wed, Jul 27 2022, 8:29 am

My husband has his own business. He does manufacturing , packaging, and selling on amazon and other websites. He makes a lot more than that but he doesn't actually bring it home. He takes a salary and the rest goes right back into the business for new inventory and to develop new products.

Took quite a few years to even make profit. And he literally works all. the. time. He bh loves it, but it's not for everyone. It's not like he set up a business and now the cash just flows in.

We probably aren't in the category that you are talking about because we aren't raking it in, but my husband is so set on being successful that in my mind we are millionaires Very Happy

I say "Hashem, you made my husband a millionaire. Now please give him the money."

amother

Burgundy

Wed, Jul 27 2022, 9:25 am

I do babysitting. Its not really a business as such but there isn't much start up cost involved. If you have kids, you'll have toys already etc.

Been doing it for years and love what I do. It isn't for everyone though. I like working from home, the flexibility is great. If my children are home from school, I'm here for them.
If I have an appointment or a simcha etc my assistant and someone else will take over.

amother

Fuchsia

Wed, Jul 27 2022, 5:36 pm

I am in the construction field for over 10 years and for the past few years technically making 250k+ B’H
That being said let me clarify
Paying taxes on 250k plus leaving 1/3 after taxes in the business for cashflow purposes (per Gemara I think) does not leave you with 250k in your personal bank account
Please take off the cost of personal insurance, convenient groceries, full time daycare, fulltime housekeeper/cleaning lady and lots of takeout
Also, please say goodbye to your piece of mind, husband and kids for the first few years
Please say hello to stress, worry and fear. You will become very familiar with having to make hard decisions on your own and there is NO ONE to fall back on (obviously there is the one above and that is where Emunah comes in)
You will become a different person. This not optional but a fact!
With the above in mind take a good look at your finances, family and emotional capabilities and see if this is truly worth the effort
You will not (likely) be making 250k (before taxes and cash flow needs) till 8 to 10 years down still and still have the same stress etc, possibly more with time that when you first started out
If you are still interested in learning more please let me know and I will continue to share steps that can help you
My advice though is DO NOT DO THIS! Leave parnassah to your husband

amother

Slategray

Wed, Jul 27 2022, 6:09 pm

amother [ Burgundy ] wrote:

You make 250k from babysitting??? Scratching Head

How?

mha3484

Wed, Jul 27 2022, 6:20 pm

20 kids x 1000 a month is 240k but thats gross not net and you need to pay an assistant or two but still very decent money.

amother

Daphne

Wed, Jul 27 2022, 6:45 pm

I dont think you will find many people come along and say here's my business model and business idea for all of you to copy. As others have said, it usually does not happen overnight and takes a lot of hard work.

Of course parnoso comes from HKBH but we've also got to do our hishtadlus.

Perhaps think of an idea in your community that you think is lacking. Don't just go and copy someone else's idea/business. Think outside the box. Look around and see if you can see if something is needed in your area. There may be a niche just waiting for you!

Hatzlocha!

amother

Burgundy

Wed, Jul 27 2022, 6:49 pm

amother [ Slategray ] wrote:

You make 250k from babysitting??? Scratching Head

How?

Nope, no where near! I have 7 toddlers. It's a playgroup. Sorry, I thought it was a general business idea thread, I didn't read the title properly.
My dh brings in our main income, mine is more like fun money Smile

I do help towards some expenses, like I'll pay for most of the kids clothing etc.

amother

Slategray

Wed, Jul 27 2022, 6:49 pm

mha3484 wrote:

20 kids x 1000 a month is 240k but thats gross not net and you need to pay an assistant or two but still very decent money.

I live in Lakewood. People pay much less than $1000/month.
An assistant is a huge expense. If you have 20 kids you need her basically full time (minimum $2400/month, not even sure you can find for that price!)

amother

Saddlebrown

Wed, Jul 27 2022, 8:23 pm

amother [ Mintcream ] wrote:

My DH has a successful business bh, I feel like I need to warn people it took 8 years of struggle and debt to get to this place. It’s not all rosy.

Um same. Bh were good now but it took its toll on our marriage during the early years
It’s not for everyone

amother

Peachpuff

Wed, Jul 27 2022, 8:37 pm

amother [ Snapdragon ] wrote:

I say "Hashem, you made my husband a millionaire. Now please give him the money."

My husband does Amazon too. His profits mostly go back into the business but he makes around 400-600k per year. I don’t see it though. It goes straight back in or for buying real estate.

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