Help achieve my Outfitting dream

[2rocky]

Do you have a business plan with projected income, expenses, and debt service?

How many years before you actually clear a profit?

Do you have a CPA to consult to be sure you have your payroll, and tax situation in hand?

More outfitters have been run out of business by red ink than by not getting clients critters. I'd say you would be well served by having a business minded partner who would let you buy him or her out after a certain amount of time. Perhaps someone who just wants an elk hunt a year to cover the interest...

Passion is great, business is for keeps though..

 

[bbrown]

Shoot me a PM - I have a bit of insight and a couple of ideas for you for a bank and insurance.

 

[robby denning]

Lots of great advice on here for you.

I didn't read all of your posts, but will add this.

I'm an outfitter. I would never recommend quiting your day job. Few outfitters can make a year-round living with their business. The few that do have rivers to guide on, birds to hunt, fall big game seasons, and winter snow/ski trips. Even then, they work thier fingers to the bone to make good money.

I personally wouldn't borrow any money to become an outfitter. Too risky.

God bless your efforts.

 

[cmeier117]

Lots of great advice on here for you.

I didn't read all of your posts, but will add this.

I'm an outfitter. I would never recommend quiting your day job. Few outfitters can make a year-round living with their business. The few that do have rivers to guide on, birds to hunt, fall big game seasons, and winter snow/ski trips. Even then, they work thier fingers to the bone to make good money.

I personally wouldn't borrow any money to become an outfitter. Too risky.

God bless your efforts.

I would listen to Robby, I think he knows a thing or to. But good luck.

 

[BigAntlerGetter]

2Rocky
i will have alot more infrmation about that after i talk to the current owner this weekend. from what i have been told from him it is very profitable right now. But i do want to see the paper work to confirm all that stuff. I also have the banker that i am currently working with is also gonna look over all the information and let me know what he thinks about it all. The current outfitter is going to turn over all client lists and is willing to help me out for a few years afterwards for a flawless transaction.

Robby
my current day job is a tire tech in colorado the outfitting business i am looking at is 5.5 hours away. so my plan is to move to that area and have another job there for the extra income. Can i ask why you wouldnt borrow money? im taking in all suggestions at this point. i dont know if it makes a difference but the current owner has been in business for 15 yrs, only reason he is selling is because he is to old and his son does not want to take it over due to his job. i appreciate all your guys info.

 

[Rent Outdoor Gear]

First off - best of luck to you in chasing your dream!

I think I would try to work something out with the outfitter to work for him as a guide for a year as collateral, then if he's got confidence in you and you're still in love with the idea after a year, perhaps you can take the lead role for him the next year making a little more money and building a relationship with his (your future) clients. I'd hope by year 3 you would have the money, experience, reputation and confidence needed to successfully run the outfit. I

don't know what kind of money you're trying to sock away for the down payment, but if you put your mind to it and you want something bad enough you can live pretty lean and probably get most of the way there in a year or two. Suck up your pride and unload your 3/4 ton crew cab diesel, eat Ramen for lunch and dinner, and take on another job if needed.

A lot of times when you want something real bad it's hard to think straight whether it's a new truck, a new pair of binos, or a new girl. Business opportunities are no different. It might seem like a once in a lifetime deal but if it vaporizes before you can do it right - then maybe it wasn't meant to be. If this falls through for some reason keep looking hard and you'll find or create another opportunity that's even better than the last. At the ripe old age of 23 you could buy and sell half a dozen outfits by the time you're 35. Just don't dig yourself a financial hole that will add a lot of stress that might make you resent it and burn you out. If you do it on your terms when it's not a huge stretch you'll probably be happier and more successful.

It's funny how much easier it is to spend money that we don't have - after you've earned it, you'll be sure to appreciate it a hell of a lot more.

Hope you can make it work and we get to pack a bull out sometime down the road.

Coop

 

[BigAntlerGetter]

Coop
i appreciate that and my dad says the same thing if this one doesnt work it jus wasnt meant to be, but if you dont bust ur ass to get it and dont give it your best shot then ya dont know. they are telling me that i am going to need 20-25% down to make it work. I am hopefully going to work for him this fall also so that i can prove to him and myself that i can do it for sure. also i figure that if i can prove to his clients that i can do it, it will help for a smoother transaction in the long run. If this does work out in my favor i would be more than willing to pack out a bull, buck, bear or turkey with any of you guys. im selling my old truck that i got in a trade to help. selling my dodge isnt much of an option for me because i use that truck to haul horses, cows and hay as a side job to help with making money.

 

[2rocky]

I'm Bringing this to the top to see how BAG is doing on pursuing his dream.

 

[BigAntlerGetter]

As of right now I am getting closer, but it's a slow process, looking into other businesses and places that I could do it a little better or would be best fit for me the savings account is growing slowly but it's growing. I've been working as much as I can to get that little extra to keep it growing.