Thanks a lot for these good questions!
I am definitely most excited about running a business. The subject of the business is not my passion, but I am quite comfortable with it. When I worked in the business during university, I was in constant contact with the retail customers. Most of the interactions were really normal, some great and occasionally also really bad. Ok overall.
The exit strategy is not decided yet. I would prefer a small deposit and then paying the rest off over the next couple of years. FIL would like a larger deposit and less pay off per month. We would have to find the middle ground. FIL would be available as a consultant for a couple months after the transition. Also he is family so in really pressing situations I am sure he would provide me with advice and a guidance.
Yes, I would like to work on every side of the business. I really love to touch a lot of subjects, also at my workplace.
I guess the niche will still be there in the next 10 years, but I honestly cannot make a prediction about more. The business is built on returning customers/collectors all over the world. I guess it makes a lot of sense to look into it alot deeper.
He is old, he neither needs to nor wants to work any more.
Really, if I take the business, I quit my developer career. I focus 100% on what makes the business better. If it includes occasional development tasks, great. If not, also ok. I would have my developer background as a backup plan in case anything goes wrong. But if I never return to full-time developing, I am not too sad about it.
Thanks again for your questions, they got me thinking in some different angles!
I am definitely most excited about running a business. The subject of the business is not my passion, but I am quite comfortable with it. When I worked in the business during university, I was in constant contact with the retail customers. Most of the interactions were really normal, some great and occasionally also really bad. Ok overall.
The exit strategy is not decided yet. I would prefer a small deposit and then paying the rest off over the next couple of years. FIL would like a larger deposit and less pay off per month. We would have to find the middle ground. FIL would be available as a consultant for a couple months after the transition. Also he is family so in really pressing situations I am sure he would provide me with advice and a guidance.
Yes, I would like to work on every side of the business. I really love to touch a lot of subjects, also at my workplace.
I guess the niche will still be there in the next 10 years, but I honestly cannot make a prediction about more. The business is built on returning customers/collectors all over the world. I guess it makes a lot of sense to look into it alot deeper.
He is old, he neither needs to nor wants to work any more.
Really, if I take the business, I quit my developer career. I focus 100% on what makes the business better. If it includes occasional development tasks, great. If not, also ok. I would have my developer background as a backup plan in case anything goes wrong. But if I never return to full-time developing, I am not too sad about it.
Thanks again for your questions, they got me thinking in some different angles!