Lol my family is in businesses and they always try to gaslight me into joining the family businesses because they’re getting old and want me to take over and get married and live close to the rest of the family because it’s “tradition” but they want me to get into business myself with no assistance and their method of convincing me is saying that I’ll make more money in business and only make “100k salary” for the rest of my life in consulting😂

I’d rather move to Montana and cut them all off.

likefunny
Posting as :
works at
You are currently posting as works at

Well having a business handed to you can become pretty lucrative if you got the chips to run it

like

Take it over then sell it from underneath them…that’s the American way!!!

smartfunny

You learn more about being an entrepreneur when you handle your entity end to end and scale it than you ever will being a consultant. And if you play the right chips you will gain more than 800k or so a career consultant will make. Also you get to save on taxes. Plus if you learn to delegate and operate, you will live life by your means. Dont get cocky because of the 100k,respect the fact that you’ll have a legacy being handed down. That’s more than many people ever get.

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Are they looking to adopt?

31/m/fine with hand outs

likefunny

So they want you to take over the family business but you have to do it all yourself? I don’t understand

like

That seems weird

OP - I’m in a similar situation, but confused why you don’t see this as a privileged opportunity. You have a chance to further their legacy, create a legacy of your own by potentially growing the business way bigger than they could, and setup multi generational wealth for your kids. It sounds like you have a contentious relationship with at least some of your family. I can relate to that, but I don’t think their intentions are selfish. They probably just want what’s best for you.

Instead of a loan, lookup how earn out transactions work. You could put a smaller amount of cash down to purchase equity that way.

like

Punctuation is our friend.

What’s the family business? Asking for a friend’s friend

Have you seen the financials of the business?

Also consider that some of the pressure may come from their need to sell to fund retirement coupled with an inability to sell on the open market for whatever reason (not profitable, not desirable, profitability dependent on tax avoidance) leaving them dependent on a child to bail them out.

So, you're going to turn down an offer to run a multi-million dollar franchise business out of spite?

Smart.

like

Is your fam’s business in the market for high-impact consultative services? Best of both worlds!

Soml

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