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Growing A Business Question


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#1 Kidcarnivals

Kidcarnivals

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Posted 07 October 2018 - 08:44 PM

Hi! I started a small rental business this year with about 15 games and some carnival tents. I was hoping to target mostly schools and churches that put on private festivals and other events.  In the first season I've had two festival jobs, one decent-sized corporate event, and a dozen smaller birthdays or other events.  I have no idea if this is good or not, but it was what I had hoped would happen, so I'm happy with it.  However, even though I didn't make a large investment (only about 10K total, and that includes things like insurance and marketing), I am still way in the red.  I would need to double my current business just to keep up with the small overhead that I have.  My family is driving me nuts asking if I have a plan for how much money I will be making in a year, or two years, and how I will turn this into something where I am taking home at least 50K a year, preferably more.  They want to know how much money I will "eventually make."  We don't actually need any money, but they seem to feel I need to have a plan.  But I don't understand how someone can plan how much money they will be making - I have no idea!  I expected to make a few thousand this year, and I did, and I'm hoping to double that next year, and beyond that I really have no idea what is possible.  I would need to expand somehow, and as I'm just learning the business I'm not sure what I should expand to yet. Am I missing something here?  Am I really supposed to know how much money I will eventually make?  I'm totally new to business (I'm a college professor and still have my day job), and I'm having to learn as I go.  Any advice or ideas for the future, beyond next season?  Did you have a plan for how much money you would make when you first started?


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