Wife Needs To Open A Business

[dsp0725]

[FONT=&quot]Hey gang... So I'm 32 and my wife is 28. Our net income is about 250k, and only debt is our house. She's got a masters in early childhood education and is a teacher by education but doesn't want to teach anymore. She's currently working odd jobs in town, but lacks fulfillment.

We're trying to think of a brick and mortar business that she can open that will be fairly easy to run and decent profit. She is lacking brain stimulation (smart girl 1500 SAT) and isn't happy just "staying at home".

Any advice or franchise/businesses that you guys might recommend? We were thinking frozen yogurt, kick boxing franchise, Dippin' Dots, day care.... [/FONT]

 

[DrRoy]

How about Mathnasium?

 

[dsp0725]

That's possible. She doesn't love the idea of tutoring but maybe others could work for her. Pretty expensive 90,750 - $137,610 to start up.

 

[Senator]

When I was looking at franchisees, I almost opened up a check cashing place.

 

[Sue J]

So what happened between finishing her masters in education and the present? If she's only 28 that's just a few years.

Just curious as I have a degree in Early Childhood Ed, never taught, ended up as an accountant, then left that to raise kids. DH's sister was a teacher for many years and left due to administrative changes, job pressures and a changing attitude from young parents.

 

[Moemg]

I would skip the franchise idea . Too much of an investment when she really does not know what she wants . My SO's son opened a karate franchise and it was an expensive disaster .I sold on ebay for eight years . That is an easy gig that you can end at any time without financial problems.

 

[Lakewood90712]

"We're trying to think of a brick and mortar business that she can open that will be fairly easy to run and decent profit."

No such thing exists, really. Tutoring should work, and the lack of capex involved is desirable.

Forget about franchises. The only one worth anything is McDonalds, and those were sold out decades ago.

Very few people are suited to run their own businesses. Most who try , find out the hard way.

 

[chris2008]

SHE needs to figure out what SHE wants to do with her life.
There are good books out there. Maybe she needs to study again.
Invest some in consulting if she cannot find out alone. But a lot of the businesses out there change money or keep wifes busy at best. You do not see from outside.

 

[Maenad]

I was in much the same place at that age - wasn't a good engineer, wasn't fulfilled, etc. Has she been checked for depression? Getting the right Rx turned my life around.

 

[dsp0725]

So what happened between finishing her masters in education and the present? If she's only 28 that's just a few years.

Just curious as I have a degree in Early Childhood Ed, never taught, ended up as an accountant, then left that to raise kids. DH's sister was a teacher for many years and left due to administrative changes, job pressures and a changing attitude from young parents.

- taught in NY state
- moved to TX, taught
- worked at country club/resort as kids club manager
- nanny
- forzen yogurt shop manager

she'd make a great accountant but she's not interested in that.

 

[dsp0725]

I was in much the same place at that age - wasn't a good engineer, wasn't fulfilled, etc. Has she been checked for depression? Getting the right Rx turned my life around.

If you don't mind me asking, which meds worked best for you? She's a very anxious person and sometimes mentioned being depressed. She's put on about 60lbs over a few years, I often think her hormone levels are out of whack... She doesn't go to the gym anymore, sleep schedule is all over the place...

 

[Sunset]

Get her to a doctor to check out the depression issue, there may be a medical reason.

Once you have eliminated that, I can see why she is not working, you are making $250K/yr. I know plenty of wives that would take the easy/lazy/entitled way and stay at home (with maid service) when hubby is making over $200K.

 

[Meadbh]

Opening a business is not what's required here. In fact, it could make things worse. Your DW needs a health assessment. Yes, she may be depressed.

 

[MRG]

If you don't mind me asking, which meds worked best for you? She's a very anxious person and sometimes mentioned being depressed. She's put on about 60lbs over a few years, I often think her hormone levels are out of whack... She doesn't go to the gym anymore, sleep schedule is all over the place...

You are listing classic symptoms of depression. If this is the case get her to a doc.

 

[Chris7]

What MRG said. And waste no time. This just isn't something to full around with.

 

[Chris7]

FYI - Day Cares are a lot of work. Besides the kids, you also have the parents to deal with. But again, get the other issue figured out first or nothing will be a success.

 

[brucethebroker]

I would skip the franchise idea . Too much of an investment when she really does not know what she wants . My SO's son opened a karate franchise and it was an expensive disaster .I sold on ebay for eight years . That is an easy gig that you can end at any time without financial problems.

+1

Also, my experience with owning a business with fixed expenses has been brutal. Nothing you can do about a down economy killing sales...however, the fixed expenses (rent, utilities, phones, etc.) just keep on coming. It is no fun to write personal checks to cover expenses while waiting for the economy to recover. Also heart breaking to let good, loyal ee's go because you can no longer afford their help.

Consider working from home where the overhead is controlled(ebay or another web based business). If needed, buy a larger home to help house the business. Or be creative with your garage or build a second garage if possible. The money you save will be impressive.

 

[kcowan]

After seeking medical advice, one possibility for her might be forensic accounting, combining her education with high IQ investigation. Also consider a psychiatrist before committing to ongoing meds.

 

[SumDay]

I would skip the franchise idea . Too much of an investment when she really does not know what she wants . My SO's son opened a karate franchise and it was an expensive disaster .I sold on ebay for eight years . That is an easy gig that you can end at any time without financial problems.

First, get her to a doctor. I've had some experience with depression in my family, and it doesn't cure itself. It manifests differently for everyone.

What Moemg said. I also sold on ebay for years, and it eventually turned into a website. I made some little handmade craft & baby items, and put my kids through parochial school and paid for 80% of their college. When family circumstances changed and I couldn't do it anymore, I wasn't out a dime.

She needs to figure out what HER passion is, and then do something related. Franchises scare me - that's a huge outlay, and rarely managing whatever it is you buy into is a piece of cake, in fact it's a helluva lot of work.

Maybe she can consult to school districts. My SIL does that - I don't understand it well, but it has a lot to do with big data & test scores.

 

[chris2008]

Are thyroid issues checked and excluded? Hashimoto puts on weight, feels like depression and mixes up self esteem.

 

[Walt34]

I would skip the franchise idea . Too much of an investment when she really does not know what she wants . My SO's son opened a karate franchise and it was an expensive disaster .

+1 on what she said. DW's nephew and a partner opened a sub shop, worked exhausting hours for ~5 years and and when he sold he still had a $50k tab to pay.

 

[ls99]

Never known anyone needing to open a business.

It can be rewarding if she can handle the attendant hassles, which are many. Usually works if one has a true passion for whatever enterprise is undertaken.

 

[haha]

[FONT=&quot]Hey gang... So I'm 32 and my wife is 28. Our net income is about 250k, and only debt is our house. She's got a masters in early childhood education and is a teacher by education but doesn't want to teach anymore. She's currently working odd jobs in town, but lacks fulfillment.

I suppose that there might be more expensive routes toward "fulfillment", but at the moment I can't think of any.

Ha

 

[pb4uski]

+1 with others. Priority #1 is to get her to a doctor and get her evaluated.

After that, if she wants something relating to her degree she could try tutoring, or substitute teaching, or working at a tutoring franchise to see if it is anything that might interest her.

If she wants something different from her degree then the world is her oyster but she needs to decide on her direction.