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?
Growing A Business Question
No replies to this topic
0 user(s) are reading this topic
0 members, 0 guests, 0 anonymous users