Possible Career Change NEED HELP

[Dreamworkz]

A little back story, I won't try to make this a novel.

 

I've been working for a property management company for 20 years now and love the job and the perks that come with it. Last year I thought I would've had the chance of buying the company from my boss, but a friend of mine got it before me. Now that friend is my boss. It's not so bad, but I feel that I should getting paid more for what I have and been doing for the company. I've been getting paid the same amount for over six years now and been askig for a raise for quite some time, but it's just not cutting it eventhough the company pays for my cell and health insurance. I do more of the grunt work for the company than I do of the logistics (i.e. talking to customers, putting in bids, etc.) I take care of getting equipment to and from properties, making sure employees are doing what they are supposed to, making sure the job is getting done right and efficently, things like that. Love my job, but like I said, my pay isn't showing it.

 

Now, on top of that, I have a little side business. Dream Workz Automotive Detailing. Granted, it's not an "officiall" business, but it does bring in some money. You could call it a hobby, because the money I get from it, I'll spend it on detail products here at Adam's of course. I mainly have done friends and family vehicles, and on a rare occasion a person that heard from word of mouth. I love doing it because of the satifaction I get when I see the customers eyes when they see their vehicle from when they had it to after I get done with it.

 

Okay, now on to something that may change my life and my families.

 

I got a message on Facebook from a guy who owns a mechanic shop in the cities and it was out of the blue. He saw my work with Dream Workz and was very impressed. His shop works on BMW, Range Rovers, Astin Martins, Ferrari's, Benltey's, etc. High end vehicles. On top of that business he has a detailing business detailing the said cars and more. Both are very successful, but the detailing business isn't really a company, it's a "doing business as" the mechanic company. He wants me to come in and restructure the detailing company to the way he forsees it and how I think it should be via marketing and possibly expanding it. Right now there is only one guy doing the detailing, answering customer calls and concerns, and making appointments as well. So I would be basically doing the logistics and detailing on top of it and possibly being co-owner of the detailing company. Mind you, before yesterday, this guy (the business owner) and I have never met. He seems like a really nice, down to earth person that I could possibly see being a partner with. But...

 

I have been running these ideas in my mind and wanting to try and get a grip on what I want/should do to better my life and more importantly my family since I have a wife and a 5 year old sons. My family comes number one in my life and I really want to provide and set them up with a life that they can enjoy and have fun. Right now, we are struggling to make ends meet due to the fact that it's the off season for my current job and my wife isn't making as much as she was. We eventually want to buy our own home and get out of renting, which we have been doing for the past 5 years.

 

I just want to get everyones opinion on this. Should I stay at my current job that is stable and in hopes of getting a pay raise to what I should be getting in the next few years. Or, should I take a risk, quit that job and take the reins of the detailing company and make it bigger without knowing if and when I will have money coming in to support my family and I. That is one thing that I haven't discussed with the mechanic owner is money. It's a lot to think about since this is huge for me.

 

Let me know and thank you for reading and sorry it's so long.

 

~Nick

[Marylander]

First, I'd talk money with the new guy and check his references. If he's legit he'll welcome that frank talk. 

 

Then I'd weight the options. Maybe you can use this new opportunity as leverage to get the raise you want at your current job. Or if they're not interested in doing what it takes to keep you, give the detailing biz some more serious thought. And maybe even start your own Property Management business on the side at the same time you're doing the detailing. That way you have two horses in the race, so to speak... maybe one will go like gangbusters and there's your future right there. 

 

I truly believe you need to take some risk in life once in a while. Quitting my job as a Creative Director for an ad agency and starting my own creative design firm was the best career move I ever made. I also firmly beleive that if you work hard and provide good service for an honest/fair price you'll never have to look too hard for work -- it will find you. So don't be afraid; I suspect you'll be fine no matter which course you take. 

 

Rich

[Redbeard]

I would definitely talk more to this other guy, especially about money and stability (how steady is the business and get more history). This sounds like an interesting opportunity, but not knowing him or more about the company means you should be cautious before you make a decision no matter how good it sounds. Maybe you could do a trial run of some details on nights/weekends to get a better feel on how you'd work together.

As to your current situation, there are definitely pros and cons to working for friends/family. While there is a lot to be said for stability and sacrificing potential $ for it, if your pay has been stagnant for six years (trust me, you're not the only one) I would try to get a better idea of whether that's gonna change any time soon (6 months, year, etc).

Good luck.

[Feets31]

Will the dealership pay you to do his cars or do you only get to make money off of walk ins.  I would think winter would be a slow time with them as not many detail their car then and all of his will be covered with snow.  If he is giving you a direct salary then that is a mute question.  

 

Don't over look the health insurance you get now.  Is it a good policy?  You would have to buy your own as a co-owner I bet.  

 

Friends can be funny.  But I would hope I could sit down with my friend and discuss my situation and where you can be paid more.  

 

This isn't a slam dunk either way, so be careful. 

[Tyler]

Here it is,

 

Forget that offer. 

 

People always talk about doing this or that, few ever do it.   

 

I would recommend you consider going out on your own.  If you fail or succeed, either way you still did it.

 

Work your butt off, surround yourself with successful people.  I cannot express how important it is to surround yourself with supportive people.

 

Your family wants you to be happy.  They really do.  Family supports family.

 

Timing will never be right.  Don't wait for it.

 

Don't be afraid to fail, be afraid of not trying.

 

Build a successful business and then offer to sell it to him.  

 

FWIW, my wife and I each own separate business's that we built.   

[PaintTech]

What do you want to do.

 

Meaning... What do you wake up and wish you could do? (Realistically)

 

I enjoy detailing cars as well... But I wouldn't make that my primary source of income. I have a d/b/a company and operate as a sole proprietor. I spent 20+ years in the industry in the trenches and even tried my business owner hat on a time or two before... I wasn't ready. Now, I went from bringing in 32k annually to 120k last year. This year could break 200k. I don't enjoy what I do tho. I'm just good at it and it has become second nature to me. I' started my business in July 2012.

 

If you have a family, planning is key. If you enjoy property management and are good at it, start your own. There are also other opportunities for someone with your background. I paint and renovate for numerous apartment communities locally. I've seen the office staff. Making pretty good on bonus checks aside from their already decent weekly pay.

 

Working for a d/b/a isn't going to help you in the long term. It will, however, get you closer to the admin side of it so you can learn the ropes and make connections.

 

Without my network (took me 5 years to build), I wouldn't be able to show the success I've had with my current business.

 

Best of luck to you, whatever you decide.

Edited April 2, 2014 by PaintTech