Thinking of quiting my day job.

[Lytic]

LLC- Limited Liability Company.

I was just up at Brackenburry Bows with Bill Howland. We got to shooting bows when he had to inform me of a liability waiver before shooting the bows. Not that I mind, its just sad how lawsuits have effected all of us.  Can't seem to trust anyone to have common sense or accept responsibility for their actions.

[swp]

Limited Liability Corporation if I am not mistaken.

[Can Hahaka]

My apologies to all - in an earlier response I mentioned that a friend of mine had a marketing website  www.traditionalarcherymall.com.  HOWEVER, in communications with him today I was informed that while he does own the name he has not yet opened this site to advertisers. You may express your desires for him to expedite his site by contacting him at [email protected].

Sorry for the confusion.

[Dave2old]

I survived 20 years without a day job, thanks to a very low material appetite, no children, a cheap-date wife, and no mortgage. I worked my butt off, "living my passion," and survived. I would do it all again, if I did it all the same way again. For anyone with normal responsibilities, I can't advise it. And too, there's always the risk of losing your passion when you turn it into a job. I'd say, get your product where you want it, start selling, and only when you can't keep up with the demand, give up that day job. But then, "Nothing ventured, nothing gained." But then and then, "Nothing ventured, nothing lost." Interesting times for all of us. Best luck. d

[rg176bnc]

Heres what I can tell ya.  I manage a wholesale/retail fishing store.  I used to love to fish.  Dont go at all now.  Materials are due to go up a minimum of 10% this year and projected another 30% or so over the next 3-5.  That seems to be the consensus regardless of the type of business your in.

You never have enough time for yourself or family.  Heres my suggestion.  Dont price them to sell, price them so that it bothers you not to make it because your making enough money to make it worth your time.  If it were me I would let my customers know right upfront there aint no bow building from Halloween till about Christmas!!  A mans gotta hunt.  

Good luck whatever you decide.

[bayoulongbowman]

Just do it part time...dealing with the public can be tough......Id build Glass bows, if I had the gift...

[Gray Wolf]

Go for it. Life is too short.The worst that could happen is it fails.But you wouldn't sitting around saying "what if".
My two cents.                                                   Mike

[horatio1226]

You will be fine as long as you control the terms.
When someone else controls the terms of what you are doing, then you are doing what they want instead of what you want.
Quit!!!
You can always get another job.
Brian
Self employed designer, painter, carpenter and whatever else I feel like doing.

[Cherokee Scout]

LLC is limited liability corporation.
Insurance would be about $800-$1200 per year.
I know of 2 people who have quit their jobs to build custom bows. One is having a very tough time, lost his home etc. then went in less than 12 months went back to a paying job. The other one is doing well enough to make ends meet.

[Apex Predator]

I'm not rushing into anything folks.  I really appreciate all the advice, and most of it is spot on.  I just needed to hear some others say it.  I ain't quitin my day job any time soon.  I have dreams though!  I have much to learn, and think I will enjoy it a while longer before possibly ruining it.

[zipper bowss]

Apex Preditor sounds like a great name for a bow.
Burr and Co. is who I have my ins. with.
There are alot of things to think about with a bow busines that may not be aparent at first here are a few off the top of my head.
1 Federal Exise tax 11% and that is of the sale price not after deducting expenses.
2 Equipment maintenance
3 Equipment ins.(fire theft)
4 Structure ins.
5 Liability ins.
6 product ins. at shows incase some one wipes you out while everyone is away for the night
7 expenses at shows
8 advertising
9 web site/web master
Im not trying to scare you just something more to thing about (as if there wasent enough to consider already) of and forget about shooting as much as you use to.When you decide to do it give me a call or e-mail and I will give you all the ins. contacts I can.Some of the great things you already know like meeting great people.Hope this helps.
Bill

[J-dog]

I think it is easier to keep the day job and work hard on keeping up your bow business. That way yu have guranteed income for a bit. When you see the bow business is truly funding itself and the base business is real (the usiness supports itself) then quit your day job.

When I started doing taxidermy it was a fresh start and with little money. Not saying you are starting that way, as I don't know your situation, but a business is not the easiest thing to start.

Guess I am a cautious one, I wish you the best, believe in you dreams they do come true.

J

Hey be sure I get a email about your bows!!! always looking for another one! lol

[John3]

Marty,

Some good point made here. I want you to "make it happen". If building bows is what you want to do then get started. Life is too short to say "I wish I would have _____?"

Do not get old and say I wish I would have....

John III

[Jim Godden]

AP, sent you a PM

JIM
Crecy, Poitiers, Agincourt

[wingnut]

Well you got to remember that there are more small businesses going under every year then start.  In today's economy, I'm seeing more bowyers folding the tent.  The problem is; what do you do when the phone stops ringing.  It's one thing to build a bow and troll it on the TradGang and sell it.  And quite another to pay the toll in advertising and sponsorships.  Then try and build em and sell em fast enough to keep the business rolling and meet payroll.  LOL  Payroll. . .that would be a good thing.

Anyway keep your dream. . .but make sure you keep it real.  I did it six years ago and we are just now starting to see the light at the end of the tunnel.  Hope it's not a train coming our way.

Good Luck,

Mike and Jason

[Mr.Magoo]

I haven't read all the replies, but as a guy with an LLC ... you need to find a good lawyer and a good accountant.  Setting-up an LLC is easy, but a good lawyer and accountant know all the little details and will help ensure you don't make bad decisions.

[Roy Stroh]

I think the biggest thing is building your name.  If you have a good name a good a good product people will buy.  Its taken me about 5 years of steady work to get a name for myself, and I am enjoying it. If I didn't enjoy what I do there is no way that I would be doing it for as long as I have.  I am no where near rich nor will I ever be, but I do have a piece of mind.

[ksbowman]

I retired early 2 1/2 years ago.I had grown to hate my occupation of 38 years.I always had wanted to run cattle and had reached a point that I could get a pension that would make ends meet,no frills but I could do what I wanted and when I woke in the morning I didn't dread going to work.Unfortunatly I don't have the money to do all the things I used to do,but I enjoy all that I do.Follow your dream if you can afford it as long your willing to give up some of your income.Worst case is you may have to get a job later to subsidize you income.Last time I heard you only live once.  Ben

[joebuck]

I echo the sentiments of others along the line of "orders and deadlines could take the fun out of it". Several years ago I entertained of selling my bows and turkey calls on the Side. My philosophy was build an expensive bow and take few orders...booom .... I was wrong... I had 10 deposits in a flash...then I had DEADLINE!..I gave money back...it almost lost its fun for me......so now I make one or two a year for friends and it's still alot of fun......

One tip I have though is get the BEST dust collecting system you can afford....good luck and support your state Tradtidional org...they will support you...

[bayoulongbowman]

yeah, Joebuck 's right ....take the fun right out in hurry ....But Joey ya had cool name "Swamprooter"....    ya gotta love it! Marco#78