Business Aspirations

[Purple Punishment]

Being as I just returned from the middle east for the 5th time. Being older and more open minded. I have decided to start my own business. In the muslim culture, every man is supposed to strive to have their own business. Although I am not part of that culture, that principle has stuck in my mind and now that I have returned, I am ready to be my own boss.

 

I am thinking of starting a Hooka Lounge in AACO. I have thought about Baltimore City, but the price of renting space and starting a business in say, Federal Hill or Fells Point (where they would thrive) would far exceed what I would be willing to put up and take an initial loss on. You always lose in the beginning.

 

I was wondering what some of you guys may think of the prospective idea. If you stand to serve the general public, its best to get their points of view.

[K-Dog]

As a former business owner I can say there is nothing like it in the world.
Its way more work, often way less pay. Everything and I mean everything falls on to you. I loved it.

Two pices of advice.
NEVER EVER EVER EVER NEVER EVER EVER NEVER EVER EVER hire friends and or family.

Do it all legal and legit. Every thing. Its not worth the risk.

On yeah one more thing.
Don't hire family and or friends.

[Rav'n Maniac]

As a business owner myself, I would reconsider before opening a business with a limited client base. A Hooka lounge is just that, limited to specific patrons. Now, if you staffed the place with a few Hookas, that would be a different story. j/k One other bit of advice, don't hire family or friends!

[1/28/01]

Self employed my entire career (short, as Im only 31, but have worlds of exeperience).

Agree with K-Dog. Stay as far away as possible from friends and family as employees or partners. If you become friends with a partner after the fact, so be it. But do not go into business with a current long standing friend.

As for the hooka lounge idea...I have seen every single one fail and close its doors with 2 years of opening. I have been approached with every investment scenario you can imagine (Subway, Speedy Towing, real estate, landscaping business, mortgage shop, insurance firm to name a few) and I would never, EVER invest in a hooka lounge.

Currently, I own a marketing and advertising company and am a partner in a DC law firm WITHOUT being an attorney. Ask me how I did that one. Ha.

Good luck to you with whichever direction you choose to go in and thanks for serving!

[GrimCoconut]

Self employed my entire career (short, as Im only 31, but have worlds of exeperience).

Agree with K-Dog. Stay as far away as possible from friends and family as employees or partners. If you become friends with a partner after the fact, so be it. But do not go into business with a current long standing friend.

As for the hooka lounge idea...I have seen every single one fail and close its doors with 2 years of opening. I have been approached with every investment scenario you can imagine (Subway, Speedy Towing, real estate, landscaping business, mortgage shop, insurance firm to name a few) and I would never, EVER invest in a hooka lounge.

Currently, I own a marketing and advertising company and am a partner in a DC law firm WITHOUT being an attorney. Ask me how I did that one. Ha.

Good luck to you with whichever direction you choose to go in and thanks for serving!

I very much agree with this. Hooka is a very niche market from what I've seen. I'm not sure of what the cost is but it's best to invest in a business with as little overhead as possible with the greatest amount of return on the markup.

Marketing is a very lucrative business model because of these things, at least in my experience. Even better when you can spread through free advertisements and word of mouth.

[Mt. Crushmore]

Ask me how I did that one. Ha.

 

How did you do that one...

[1/28/01]

How did you do that one...

DC - Only state that allows non-attorney partners to share interest in a law firm. Insanely awesome rule!

http://legaladvice.uslegal.com/non-lawyers-holding-interest-in-law-firm

[Mt. Crushmore]

DC - Only state that allows non-attorney partners to share interest in a law firm. Insanely awesome rule!

http://legaladvice.uslegal.com/non-lawyers-holding-interest-in-law-firm

 

Interesting.

[easternshore97]

Hate to state what might be so obvious, but if you haven't already posted this query on LinkedIn, maybe reach out to people there (your own personal connections, or perhaps some people from the groups you may be a part of)

 

Just another great place to engage with folks

[cursona pirate]

Youtube is my business.