Side business

[JumpersAway]

I know of several people that seem to do alright buying, fixing, and flipping busted up and broken cars. Buy a car with a blown motor for 1000 bucks, put a 500 dollar motor in it, and flip it for 2000 bucks. Everyone wants a 2000-3000 dollar car. Down side is that if you don't know what you are doing, you will get eaten alive in parts cost.

 

[FlyinGuy]

Can you get paid drinking beer by the pool on your days off? That's where my talents shine!!

 

[AlbieF15]

Tatoo removal. Its the growth industry….

 

[PBRstreetgang]

Tatoo removal. Its the growth industry?.

Free belt sander quote for gheyjhets guys, naaahhhaa, free!
CX220, now you can get that unicorn off of your tramp stamp location, and get something more fitting like "Free Parking" and an arrow pointing to your favorite orifice.

 

[slaquer5]

Can you get paid drinking beer by the pool on your days off? That's where my talents shine!!

Yes. Cabana boy for some rich woman.

 

[waveflyer]

I know of several people that seem to do alright buying, fixing, and flipping busted up and broken cars. Buy a car with a blown motor for 1000 bucks, put a 500 dollar motor in it, and flip it for 2000 bucks. Everyone wants a 2000-3000 dollar car. Down side is that if you don't know what you are doing, you will get eaten alive in parts cost.

This kind of thing is for the car guys-
If you'd be installing motors on your off days no matter knock yourself out-
But I'll gross twice that with a premium turn- and not have to buy a car, shop and buy a motor, install it, and sell said car- and handle the tax side (which is the only real way this could be worth it $$-wise- but it's still work)
Unless you want to hire people..and get to a bigger scale..which is it's own issues.
Though meeting a payroll, should be on everyone's man card

Can't imagine Vegas to PDX and back wouldn't be easier...
That's where I agree with the previous poster.

Side businesses do compete with our ability tojust pick up a trip
Keep these kinds of businesses more as a semi paid hobby

For me, I wanted real money if I was to get involved - pay off my house money- and I've been able to-
But it would not have paid off if I hadn't been furloughed and been able to really work the foundation. And not sure id have taken the same risk today.
Very happy to be past that stage and in position to get out completely

 

[whymeworry?]

I had a R.E. business. Pretty basic in term of flipping for profit. But while I made a lot of money in some years, I equally lost a lot during others. I never had a moment of free time, I was always working on something, between the pilot gig, raising two kids, time for my wife, and working on almost endless R.E. projects. Frankly, I was burning the candle at both ends and all for what? A few extra bucks? Meanwhile, my buddies were always living unencumbered. If they weren't sitting around at home relaxing, they were traveling and enjoying more than a day at an foreign locale (far better travel experience than a pilot).

So I gave it all up and have ZERO regrets since. Like many on here have stated, you're better off just picking up a trip/ turn. Then again, that extra flying will burn you out as well. Life is a balance. The reason the FAA limits the hours we fly is so that we can properly recuperate. IOW, you can only work so much in your time off.

Most business-owners put in 80+ hr weeks in the first 5 years to make it all pay off. That's a tough thing to pull off as a pilot. I'm not saying it can't be done. I did it. But I nearly killed myself trying doing it all. I think I read a story once where it said 90% of all businesses fail in the first 2 years, and of that remaining 10%, 90% will fail in the following 5 years. Not sure whether that is true or now.

The basic premise of running a business for profit is pretty straight-forward. What a lot of people fail to take into account is that once you're a business, everyone has their hand out... practically EXPECTING a handout. From employees, to consultants, to contractors, to government bureaucrats, to insurance companies, to banks, to customers. Your job is to funnel all that into an something that is a cost-plus business model. Which works, most of the time, but when governments or insurance companies change the rules of the game overnight, sometimes it's difficult to pass on those costs to a fickle consumer.

I have a huge respect for entrepreneurs for all they have to go through.

 

[PCL_128]

Running a successful business is not really something to be done "on the side." If you're willing to give up aviation, then there are plenty of great businesses out there that you can start and run, being your own boss. But it will be a lot of work the first few years, and trying to fly full time at the same time is unrealistic.

 

[waveflyer]

So when's your yogurt shop open, pcl?

 

[PCL_128]

So when's your yogurt shop open, pcl?

Yogurt? You mean milk that's gone bad? No thanks.