That’s just it. He’s worked for several small businesses over the years and sees “lots” of money change hands for “his skill” IOW he thinks he is making the companies he works for very profitable.
I told him that is just gross receipts. Right off the bat he has a 1K monthly bill for child support alone.
There is licensing, insurance, bonding, comp premiums, having to build a customer base, dealing with employees and associated costs, etc.
Then you are competing with illegals operating out of their car trunks and union guys working on the side because they have been laid off.
I know what he is thinking regarding the money flying around but he does not see the internal workings of the business. A lot of these businesses are just making it these days.
Running a business is a helluva lot harder than collecting a paycheck at the end of the week. You now have to worry about where that money is coming from.
I watched my dad run a contracting business in upstate NY for 60 years. Not all gravy and some very lean times.
Despite the stupid commercials, NYS is one of the most difficult places to have a small business in the nation.
My brother had an HVAC business centering on Commercial Refrigeration back in the ‘80’s. Bidding on commercial contracts was blood sport. You had companies knowingly losing money just to get the contract and keep their guys working. It was crazy.
His child support should not enter into the business decision. He will have that liability regardless what he decides.
The important issue is what will his capital needs be. He may well have to buy a truck and possibly an array of equipment for forming ducts and the like.