Well, I'll tell you how I did it. I started my own business 5 years ago. Basically I left the audio visual company I was working for and took my clients with me. I was lucky, they wanted to work with me for me and not for the company so they followed me when I left. I'll tell you one thing about making money in a small business. SELL EXPENSIVE STUFF!! For me it worked out great for the first 4 years. If you go and run a dollar store you're going to make what, 10 cents on every sale? That is a going to require a lot of volume to make any money. Go for a high dollar, lower volume business. My average sale runs about $10-20K with some of them running more like $100k. I get half upfront to cover my own upfront costs. I rent equipment to corporations, which sometimes I rent form other companies. I get a discount from these other companies so I can offer the same price and still make a decent profit. When you are talking about a $1.00 sale, 10% is 10 cents. When you are making a $100k sale, 10% is 10k. Big difference. Anyway, that's how I got my Baja. A few good years and some money saved, paid cash for it. Granted, last December when I only had about 5k in the bank I was thinking "maybe I shouldn't have bought that boat after all". But one more $100k job and I was ok. The problem now is that in my first year in business I did about $400k in sales and last year it was more like $150k, and I just lost another big show from Titleist who was my biggest client. They decided to pull out of the PGA Merchandise show that they used to go to every year in Orlando. That means another 100k in sales lost which brings me to about 50k in sales a year. You do the math, even at 30% profit, I am going into the poverty level in terms of income this year. Time to get out and start making sales calls... but it's summer, I want to be on my boat...
If you decide to start a business, be frugal, and save enough to live on for at least 6 months BEFORE you leave your job.
Anybody want to rent a videowall for their next trade show or corporate event? I guarantee you I will have the lowest price in the nation at this point. Now I am thinking more volume, less dollars..lol
If anyone needs ANY A/V for any corporate event, please give me a call. You can check out my not-so-great website....www.hamertime.com