Lost my job, have 15k and want to use it to work for me instead of getting a job for someone else. What would you do?
- Mama KimamaLv 73 weeks agoFavorite Answer
The popular thing to do nowadays is to be an entrepreneur and start your own business. Yet most small businesses don't survive the first couple of years. So if you do that, you would need startup money for the business, plus money for your own living expenses. In my mind, it's too big of a leap. Fifteen thousand is small potatoes. I went thru $10,000 of my savings in a year in the 1990's to survive, when unemployment ran out.
If I was you, I would swallow my pride, and get a real life job. From there, you could save your money, and start a business more intelligently.
- JayLv 63 weeks ago
I heard somewhere that you can get a Chik-fil-a franchise for $10,000.00
That leaves you $5k for other stuff.
Seriously, look into franchises.
Check the Excellence-Success site for information. Sometimes they havelinks to where franchise fairs are being held.
- JohnLv 73 weeks ago
36 years ago I spent that in the first month of opening my business. Which I am sitting at the desk of right now.
- Anonymous3 weeks ago
You cannot usually earn enough on $15k to replace a job. But its not impossible for service businesses like Carpet Cleaning equipment where you do most of the work.
If you were to invest it in a high paying dividend stock, yielding say 7%, you would only earn $1050 a year.
I started flipping cars with less than that way back when but it took me about a year of learning & reinvesting profits before I was earning even 75% of what I could elsewhere. It would have been very difficult had I not lived at home.
Now, the laws are much harder than they were 30+ years ago. And some states are even harder than others. For example, to get a dealers license now, you must have garage liability insurance and a car lot with a sign on a commercial lot and a landline phone in the business name.
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- MichaelLv 73 weeks ago
I would get a job.
- Casey YLv 73 weeks ago
15k is simply not enough to provide adequate income...
- Anonymous3 weeks ago
Your 15k is going to be gone in a heartbeat if you do not get a job.