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9 Replies Last post: Sep 21, 2009 2:46 PM by mouthjeweler

Need help starting a business

Sep 18, 2009 10:52 PM

alaskagrown79 4 posts since
Sep 18, 2009

My husband and I are thinking of starting a business. We live in Alaska and he currently works for my dad who has a welding and fabrication business. My husband is a mechanic and we like the idea of opening our own business in a different city then where we currently live. We are ready to start thinking seriously about making this move, the only problem is we really don't know what to do. Any advice would be greatly appreciated.
Thank You

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MoveForward 148 posts since
Aug 13, 2009

1. Re: Need help starting a business Sep 18, 2009 11:34 PM

Will you be opening a place just like your father's or are you looking into a
different type of business?

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alaskagrown79 4 posts since
Sep 18, 2009

2. Re: Need help starting a business Sep 18, 2009 11:50 PM

in response to: MoveForward

Well, my dad has a welding and fabrication company and they work primarily on diesel fuel trucks, pressure testing, welding cracks in the hulls, that kind of thing. My husband is a ground vehicle mechanic, ie he was trained to fix brakes, clutches, all the stuff that goes wrong on a regular car. Although we have not had a big sit down with my dad to talk about expanding to a different part of Alaska, I just don't know that he will want to. The idea, is for my husband to learn the business so when my parents are unable to work, or just decide that they are done, my husband can take over, basically they will give us their business to take over and keep, just provide them with enough of the profit for them to live comfortably. Seems like a great deal, but 1, we don't want to live in the town that the business is in, and 2, my husband does not really want the business. It is my dad's business, not what we want.

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MoveForward 148 posts since
Aug 13, 2009

3. Re: Need help starting a business Sep 19, 2009 10:54 AM

in response to: alaskagrown79

Your reply has brought a couple things to mind. Suggestions that
you may want to think about....

Let's say your husband decides to go with your vision and he will

open the business in another location. Now it is time to speak to

the dad. I would suggest not making it a formal talk but an "off

the cuff" talk (not boxing your dad in). Simply ask him why he

never had additional locations within Alaska for his business. Do

not intereput him until he gets the full answer out. If it is in your

favor, then suggest you two opening one elsewhere.

Let's say he agree's to do this. Can you afford to open this second

location. Rent overhead, tools, insurance, signage, advertising, etc.

This will all fall under your responsiblity.

You may want to also think about the day your dad started the

business. All the money he has had to put into it. You may want

to re-think how you will own the business. Keep in mind he can

sell it to a stranger or his competitor or he can sell it you on

a great payment plan agreement.

Most important re-read your last line of your respond. Listen to

your words..."my husband does not really want the business".

It won't work if he does not have his heart, sole and full being into

the business. In order for your dad's business to have become

successful he gave 24/7 into the business. Think about this...

if your husband's mom owned a florist, you worked with her and

you are learning how to put together funeral arrangements. Your
husband wants the both to open a second location and take over
your mom's florist business but you do not want the business,
how would this make you feel? Would you feel motivated each
morning to jump into the business side of your business? Will
you be successful not wanting to do this? Will you feel trapped?

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alaskagrown79 4 posts since
Sep 18, 2009

4. Re: Need help starting a business Sep 19, 2009 2:37 PM

in response to: MoveForward

Thank You for the insight. That really does give me a lot to think about. The business that my dad has here is new. He had a commuter bush flying business for almost 30 years up here. For the most part it was very good and profitable to them. The last few years were rough and they were forced to close it. Two years later, my dad had opened this new business that has been incredibly profitable. He has the business R stamp certified, and is the only one in this region of Alaska that has that certification, therefor he gets trucks from everywhere including Canada. I don't know how well this business would do outside of Fairbanks. This part of Alaska is the part that gets VERY cold (30,40, even 50 degrees BELOW ZERO in the winter.) THis part of Alaska operates of diesel fuel and that is primarily the type of trucks he works on. The area of Alaska where we want to move back to operates of natural gas, so no need for diesel trucks. I want to research to see if there is a need down there, just not sure how to research. I would like to have all this done so if I go and talk to my dad about expanding, I have numbers to show him that this will work. In all reality, it would be easier to expand an existing business then to start from nothing. If we expand, then we can keep my dad's vision, but also be able to start doing some automotive work in the shop as well..... More insight please!!!

Thanks

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MoveForward 148 posts since
Aug 13, 2009

5. Re: Need help starting a business Sep 19, 2009 7:07 PM

in response to: alaskagrown79

Wish I was you! I love cold and snow!

I like the way you want to get all your ducks in
a row before speaking to your dad.

Question...
I have a contact within the Ancorage area, they
own a large equipment rental company would
this help you if I asked them your questions?
Is this area simular to the one you are speaking
of?

Another way to find out is to contact the
"Chamber of Commerce" for the area you are looking
into. Ask for economic development representive.
Make a list of questions prior to contacting them.

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alaskagrown79 4 posts since
Sep 18, 2009

6. Re: Need help starting a business Sep 19, 2009 10:10 PM

in response to: MoveForward

YES, that is the exact location! Actually, ideally the valley, Palmer or Wasilla area. My husband and I lived in Anchorage for many years, but came back up here so my husband could help my dad with the business. My dad is a bit older so although he is very skilled, he is not as able to do alot of the work. We are so fortunate that my dad has put all this time and effort and money into this business and will just give it to us to run when he is unable to, but staying in this region is not a long term option for us. Oh and 40 below is NO picnic! Imagine going outside and taking a breath of fresh air, that feels good right? Well when it is cold like that, that breath in causes your lungs to feel like they burn for thoses first few breaths!
I'm thinking too that we need to contact the current clients that my dad has to see if this is an option that they would use.
I will check out the state website too!

Thank You soooo much!

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MoveForward 148 posts since
Aug 13, 2009

7. Re: Need help starting a business Sep 20, 2009 6:28 PM

in response to: alaskagrown79

I will get a hold of my Anchorage contact tommorow.
And let them know your questions, I will get back
to you with an answer (give me a week or so, I want
to get to the owner who knows so much about the
area, they love the area). I will respond here unless
you want me to do so by email, then leave this
information on this site.

I would suggest you wait to speak to your current
clients until you spoke to your father (would hate
for them to be the one to leak this to him).

Have a great week.

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YesYouCan 13 posts since
Aug 3, 2009

8. Re: Need help starting a business Sep 21, 2009 12:42 PM

I'd recommend you read "Yes You Can Start And Run A Small Business" by Dick Bendtzen. A good read that is a how to guide to take you from dream to grand opening. Inexpensive and available on Amazon.com.

Also suggest you check out my website, www.smallbusinessyesyoucan.com I can help get you started.

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mouthjeweler 2 posts since
Sep 8, 2009

9. Re: Need help starting a business Sep 21, 2009 2:46 PM

id suggest too study the service/product you will be providing
the quantaty of consumers you have per day hour week and month to stimate your profit unless you have the entrprenur in you already
also take note of how its done?
*how its delivered
*how its sold
*how does the ideal costumer look like?
*does he have easy acces to this service or product at certain times of the year ?
*what sort of situations or needs does the cunsumer must have in order to purchase your servise/product?
*what makes your business unique?
*whats your hook?..steppin foot in anopther city unless your are the only carrier od this service/product you will be steppin on toes?.though thats not a main focus keep in the back of your mind to help you perform.
*how will you build up your product or4 service to reealy penetrate the market?
*do you want to be profitable or staple?..there is a difference!
*How will you price your product or service?!***important**
whens the busyest time of the year?

ps out of time be back in a min.....

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This Question is Possibly Answered

Need help starting a business

Sep 18, 2009 10:52 PM

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