by ptlockguy » 18 Jun 2014 16:56
I started my business in October 2009. Strictly part-time, until I get to retirement age (2017). My #1 rule has been to do the best quality work I can and charge a fair price, considering my limited experience. Some jobs are really a learning experience for me. Rule #2 is I'm not in a big hurry to expand, and I don't want to go too deep into debt. So far, I have purchased used equipment, and a mix of new and second-hand tools. I joined the state Locksmith Association, which has classes and business meetings 4 times per year. This year, I expect to make a small profit or break even. My main challenge is increasing my business volume enough to cover my business insurance and other expenses. Since I still have full-time work, and other demands on my time, there are some limitations.
As my father used to say, "Never bite off more than you can chew."