Prayer request for my husbands new business, please? :)

[newbeliever02072005]

Hello Everyone,

I was hoping I could ask for prayer for my husband's new business. He just opened up a body shop in February. So, far so good. We have been able to manage supporting the business and managing our household expenses. Two times in one week he has been offered a job doing something else. First job offer was declined and we just smiled and was over joyed that someone thought that highly of him to offer a job out of the blue. The second job offer just came today and really isn't a job offer but more of an opportunity. He was called and offered an opportunity to buy a muffler/auto mechanic shop. This kind of work is more of my husbands pleasing. He much rather would be under a hood of a car then doing the body work/painting. I am afraid or worried about making another decision this soon after opening up his own business. I feel that its to early to venture into something else, I'd like to see how we do financially with the business....pretty much I'd like to give this a chance. I also realize that, when you work for a living you really should be happy in doing it. I know my husband would be happy with the mechanic shop. He truly enjoys doing it.

Its hard to know or figure out what is the right way to go. Feeling torn at the moment. I am going to pray for guideance in the business decisions here. Pray that I am open to hearing what is God's will in all of this. That I don't rely on my own understanding.

Thank you so much for backing my prayers up.

Take care and God Bless!
newbeliever

 

[chilibowl]

I have done something similar (Opened a business/shop) and I know that body shops aren't cheap and unless you were given this body shop or spent a portion of your lotto winnings on it your more than likely in some debt. as a christian your obligated to pay your creditors for the original loan.. They proably didn't loan you the money to start one shop then jump to another.. or even take some of the body shop money and put it toward another venture... I truly think (Now)that it is wrong to gamble with other peoples money. I wanted to open a body shop to accomidate a need that a nationaly known customer.. it was explained to me with great detail and much scripture that "Gambling" with other investors money was wrong... Well with out boring you with all the details I feel I made a good scriptural desision, and the the lord will bless us for it. and if the opertunity comes up after the initial loan is paid then I'll proably jump on it, but till then... I chose to open the repair shop and was backed for the repair shop, and like it or not I've obligated myself to it.

Good luck and god bless

 

[heron]

He can also keep the option open to gradually add that to his existing business, rather than buying someone out. When someone sells a business, they are also selling the repeat customer base (which is fickle in mufflers). That would mean adding employees to handle the sudden influx of work, and maybe paying for something he doesn't need.

He can build the mechanics work on the side, and be honest about which equipment he has (engine lifts, computer diagnosing).

I'm assuming that owning both is out of the question...but that's another option, to hire someone to take over the body shop. Starting up a business is a lot of work, but keeping one going can already take up double the time of a mainstream job.

Lord, give him wisdom and clear-headed direction about these decisions. Keep him from fears about having made the "wrong" decision, and let him move forward in caring for his family, his future and his customers. Show him your love and your peace, and your provision for him. Thank you that you care about us, and also give us the freedoms to pursue our interests.

 

[mnphysicist]

I'd say to take a good look at the numbers and review the 5 year plan at 6 months, and then after a year. If the projections are not working out, and the 5 year plan needs a major rewrite, you owe it to your investors, whether it be private equity, or a bank loan to be receptive to change.

If your husband does not enjoy his work, chances are, the numbers will mirror that. It takes a lot of enthusiasm to keep a business rolling, especially the first 3 years. By the same token, your first months are going to be filled with headaches, which is why I said to rerun the 5 year plan at both 6 months and a year.

If after a year, the numbers don't make sense, then it is time to consider selling, expanding into other arena's, or changing the business entirely. To continue on to the loans term limits may result in a business failure, and a major loss to the investors as a result. Changing early may well be the best solution for all.

In fairness though, my background is tech, change is the norm. Business plan's and projections are rerun yearly, and changes of course, may even happen on a quarterly cycle. Its one of the reasons that banks run and hide from us. The risk is very high, yet the rewards are exceedingly high too, which is why private equity funding is the norm.

Ron

 

[newbeliever02072005]

UPDATE:


Thank you all for your prayers and advice. My husband has decided not to take this business opportunity and stick with what he just started...THANK GOD!!!!! I was really hoping that he would stick it out and he did. Thank you again for your support.

God Bless you all!
newbeliever