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  #1  
Old 11-05-2007, 08:57 AM
skiier04 skiier04 is offline
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Default Business proposition from my uncle

First off let me say this this is completely serious and true.

I am a 17 year old high school senior, my uncle is in his upper 30's and owns a printing company. The man makes about $2m a year and is ready to stop working and turn his business over to someone else. Basically what he said is that he REALLY wants to give it to someone in his family, as opposed to some big business stranger who he doesn't really trust. He has a son who he offered the company to, but he pretty much hates his dad because he is obsessed with work and money.

He talked with me for a while and tried to explain what exactly he does. Basically its selling printing jobs to other individuals and businesses for a ridiculously high mark-up, but for whatever reason he is able to get away with it. He understands that I know NOTHING about the job and is willing to help me learn.

The big problem is, he wants to me to work as soon as I graduate high school, and says it will be very strenuous and frustrating work, and it will be 12-14 hours a day. On the other hand he promises I will be unbelievably wealthy by the age of 30.

I really don't want to miss out on the college experience though, I have already been accepted to PSU and Colorado University, and was really looking forward to the entire experience, and for that reason, I have been leaning against taking my uncle up on this offer. I figure that this is probably a once in a lifetime opportunity though, and am just looking for the imput from some older, wiser people who have more experience in business and making these decisions.

So naturally, I come to OOT. What do you guys think??
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  #2  
Old 11-05-2007, 08:59 AM
Apathy Apathy is offline
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Default Re: Business proposition from my uncle

I would be concerned that someone as weird as your uncle sounds could just change his mind a year or two from now and take away any promises he earlier made you.
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Old 11-05-2007, 09:06 AM
qdmcg qdmcg is offline
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Default Re: Business proposition from my uncle

Tough decision man,

I'm a junior in college and I can honestly say its been a great experience. The friendships I've made and the level of independence/self maturity is really amazing when I look back at myself only 2-3 years ago.

Then again, assuming that this is legitimate its pretty much a free ticket to not having to work very much your whole life. Maybe ask your uncle if he'd consider waiting a few years until you graduate?
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  #4  
Old 11-05-2007, 09:11 AM
nutsflopper nutsflopper is offline
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Default Re: Business proposition from my uncle

[ QUOTE ]
imput

[/ QUOTE ]
I don't think you'll make it through college. Take the job.
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  #5  
Old 11-05-2007, 09:17 AM
Taso Taso is offline
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Default Re: Business proposition from my uncle

Take the job. Money is everything. When you're 30 and able to travel the world and play all the poker you want, you'll be glad you took it.

I would take note of Apathy's concerns though, get some sort of insurance. Ask for money up front, get something in writing, anything, or you may end up screwed.
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  #6  
Old 11-05-2007, 09:17 AM
Nicholasp27 Nicholasp27 is offline
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Default Re: Business proposition from my uncle

if u are at all interested in business, then u could very well learn more about business working for ur uncle than u would in school

u could also always go to school a year later if it didn't work out for u...or further in the future if it did

start working for him over the summer, and see if u wanna continue or go to school
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  #7  
Old 11-05-2007, 09:17 AM
skiier04 skiier04 is offline
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Default Re: Business proposition from my uncle

[ QUOTE ]
I would be concerned that someone as weird as your uncle sounds could just change his mind a year or two from now and take away any promises he earlier made you.

[/ QUOTE ]

This is another big issue I have. He says he wants to turn his business over to someone he can trust, and yet at the same time I don't really trust him. It's not like we are that close, I only see him a couple times a year.

Although I like the guy, he comes across as someone who has been completely corrupted by money and greed.
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  #8  
Old 11-05-2007, 09:19 AM
Henry17 Henry17 is offline
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Default Re: Business proposition from my uncle

[ QUOTE ]
I would be concerned that someone as weird as your uncle sounds could just change his mind a year or two from now and take away any promises he earlier made you.

[/ QUOTE ]

Exactly. I'd get everything in writing and clearly set out. I know someone in the exact same situation except that unlike OP she happens to know a lot about the printing business. She left school to learn the business with the eventual plan of taking it over when the family member retired. A year and a half in she started to notice a change between the use of "our" company and "my" company. She ended up leaving when she realized the plan had changed.

Luckily everything worked out and after leaving she ended up getting talked into going back with the intent of now owning the company eventually. Still even now there is a level of uncertainty but much less then before. It is hard when working with family. You don't want to insult them by wanting to insist on having everything written down but if you don't there is just too much uncertainty.
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  #9  
Old 11-05-2007, 09:41 AM
bobman0330 bobman0330 is offline
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Default Re: Business proposition from my uncle

I would go to college. Can you go to school locally and start working with your uncle before you graduate?
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