I see a lot of posts about “big idea businesses”, people aiming to launch the next big app or startup. But I am racking my brain for a “sensible” business to start in a time like this for a small-time entrepreneur.
I closed my bar & restaurant in Downtown Atlanta because of the pandemic, like many others. Bar is typically healthy, but we had just gotten out of the slow season, took out a couple loans to float through that and this stuff strikes just before the Final Four in Atlanta (which would have been big money). Brutal. So I’m holding the bag, rent / utility bills are stacking up, current government help doesn’t really fit our situation, and generally the prognosis is not good. I hope for the best, but as my godfather always used to say “wish in one hand, sh*t in the other: which one fills up faster?”
So I would prefer to prepare for the worst. I don’t know how to do anything but run a business, so I would like to figure out an industry to focus on and start building something up. I’m 39, I don’t have any marketable passions or skills as a handyman, I have experience in IT as a Project Manager but haven’t worked in the field since 2017.
That being said, I’m open to virtually anything that I could reasonably do well and that would pay good money. The majority of things that I have looked into so far (from web design to dog poop scoop services) already looks flooded with too much competition. I’ve talked with people that have big ideas for startups, but most people are going for that “hits-driven” model, where the business takes years to make money, then it goes as big as Facebook or bust. I also see a lot of posts in here and in smallbusiness that many people suggest not having a business partner.
I just want to find something sensible / dependable that pays well (if possible!). I have experience running a successful brick-and-mortar business in an industry with thin margins. I will work, I will endure hardship, and I will try to keep my expectations in line with reality, but if you would please share any ideas or suggestions as to what industry or avenue a person in my position should pursue, I would be very appreciative.
Apologies if this type of post is frowned upon. I did look over the rules, but could have missed it. Only just recently migrated to Reddit since the pandemic, etc.
Thank you again.