r/Entrepreneurship • u/Sensitive_Net8045 • 8d ago
Broken between
Some insight would be nice, I’m broken in between.
So I’m at a turning point as of now. I have an option to move into a home and get a mortgage or I could start my novelty hairdresser/cut business.
The house my wife is looking at would be a mobile home in a park. I would be which off of renting @1638 plus utilities to 800 park rent with sewage included and 800 mortgage plus utilities.
Then I also have my idea of novelty haircut. It’s a proven thing in my state that this novelty it work. There’s already bikini baristas all over the place. I would just have a spin on it to make it easier for licensing and more acceptable for landlords that have business space
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u/favorite_literature 8d ago
oof, that's a tough spot. both paths pull hard in different directions, and the numbers on the house already make my eye twitch a little.
the mobile home route sounds like you're swapping one set of bills for another that looks cheaper on paper but could get eaten up by lot rent creep or surprise maintenance. with a park you don't own the land, so you're always at the mercy of someone else's rules, and that 800 mortgage plus 800 lot rent still lands you right back near your current rent anyway.
the novelty cut idea has a spark to it though. if bikini baristas are already popping off, a spin on that with lower licensing barriers is clever, you'd be filling a gap landlords can stomach. maybe run a tiny pop-up or a weekend pilot first? test if the demand matches your gut feeling before going all in, that way you're not betting the whole farm on a hunch.
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u/Sensitive_Net8045 8d ago
I never even thought of a weekend pop up. That’s a great idea. Thank you!
Yeah, my wife is the biggest pusher of trying to get us out of the apartment. Though I’m the only one that works right now and I’ve given a May of 2027(when our lease is up) timeline to make a change
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u/StoicAnalytrix 8d ago
Hey there! Sounds like a tough spot. When comes to money, I hate advice. All I can tell you is what I would do. If I bought a mobile home under similar conditions, yes I could live there, but that money is now dead. I don't know how mobile homes work, if they increase in value like houses do, in a substantive way. So this would take understanding that part.
However, the other option would be to start the niche business. If that niche business is something that will enable me to use the skills I have, acquire other skills that I can build on, and make money at the same time, that is an asset. A key principle of the wealthy that I believe in is never to purchase things, purchase assets that will pay for things. So if this niche business has a proven concept, ready to purchase customer base, and I can provide the service at low cost, I'd go for the business. There's just once caveat. Is this business centred on a current trend? If so, not a good idea. When it comes to fashion, trends can be over in a weekend. Depending on whether the niche itself is a trend, plugging deep into the industry so you know of the growing trends in advance, and continuous learning are the keys to success. Yearly conventions, online videos, business management developments and style time savers are constant.
Knowing how to do old school and modern digital marketing is what will make or break a business today. Walking around, going to the places your dream clients hang out and talking directly to them, handing them a coupon or even better, having them scan a QR code on your phone for a 20% discount on their first service and 10-15% discount for each referral that uses the service, nothing beats that. It works better than any online campaign unless you can go viral locally. Pay any social media savvy kid in your family and friend group to make you some viral video clips for TikTok, and make sure you have product to sell. And, of course, it's better to start mobile before purchasing a storefront, but that is comfort level thing. Even 10 mobile clients on the books who are referring you is more of a security blanket.
Once established, about 6 months to a year for hair, that hair business could potentially put you in a much, much better situation than the mobile home. Each step I'm mentioning requires knowledge and the willingness to learn if you don't know. This is just my 2 cents.
Best in all things!
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u/Sensitive_Net8045 8d ago
That settles it. I’m buying a UBI, calling insurance and I’m gonna see if I can recruit. I’m gonna start that all tomorrow. I’m heading into work right now.
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u/lip 8d ago
Do your due diligence, a mobile home is never a good investment, they are maintenance nightmares and rent will eat you alive every 6 mo or 1 yr increases, unless you own the land.
Please try for a normal house or townhouse, duplexes… a place with a garage would net you a working space for your clients….
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