3rd Career Options
 

After 20+ in uniform, and another 16 in small business defense contracting, we are in the process of selling the business we have built. I am not walking away with F you money, but with a retirement paycheck and after paying off remaining debt, am close to calling the ball game on account of lack of interest. Having said that, not really ready to shift from a producer to a consumer full time.

I am a minority partner, but am the company President, and it has been nice to set my own agenda. With that in mind, I am beginning to ponder ideas on how to attack a 3rd career. It would be nice to down shift and reduce the stress load, even for less $$$.

I get 10 calls or emails a week for franchise options, movie partnerships, diamond mines, and oil wells... Time to decide what I wan to do when I grow up.

Any out there with a crystal ball for a low overhead business start up?

Drug dealer? Pimp? Porn star? Gun-for-hire consultant? Professional expert witness?


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Great questions. In this era of AI, bio-engineering, satellite communication one needs to ask what isn't going away?

An answer: bad plumbing.

I had an opportunity to buy a drain rooter business. I wasn't that motivated. But I think the model is amazing. 99.9% of all Americans have plumbing. And it fails. The drain business doesn't require a plumbing license (at least in Oregon) and is far more of a consumer / business service. The outfit I looked at hired people out of fast food. They wanted employees with a customer service focus who weren't afraid of working weird hours. And? They now get paid 90-125K versus minimum wage.

I heard once if you go to a party and people are repulsed with your business, that is a good thing. It is good because it means there is a social barrier preventing others from jumping on the bandwagon.

Good luck! This is interesting.

C'mon....quit trying to rob my business.:)

Do you have any hobbies that you'd like to turn into a revenue stream?

Try being a caddy. You might meet the most interesting people.
BTW, I did some work in view of the local posh country club and never saw a caddy. Only carts.

Seriously, the only path left is consultant.

Chris will understand this: I was a Detailer at BUPERS and NEVER lied. I swear.

Honestly, I didn't.

I got a good reputation for post Navy career advice as well.

I always start with family because Navy folks ask a lot of their families while on active duty and I personally made career moves based on my family:

- Move or no move?
- Wife have a career?
- Kids near, far: Grand kids?
- Much more.

As you know, that all matters.

Then, only after family, you.

The rest I'd rather do in person. I am in Yorktown at least twice a month and my son lives in Norfolk. If time isn't an issue we can meet for lunch with my son...there are more, many more, opportunities than there are people to fill them.

Best.

How soon do you expect this business to generate income?

Medicare insurance sales.... once you grow your book of business, it quasi runs by itself and the residuals soon add up to low 6 figures and all you have to do is find new customers to compensate for the ±10% churn you will naturally have. If I were back in the States, that's what I'd do.

Alternatively, look to real estate. Perhaps rehabbing? Perhaps rental properties? Tons to do in that market...

Fred, our local "rooter" guy is awesome, works hard, and has a far nicer house than these two graduate-degreed engineers. And he deserves/earns every bit of it.

Considering the trend of things - you have to admit that plumbing is pretty hard to outsource to a 14yo in India...

Caddy'd for years when I was a kid at a couple different clubs in Denver, zero in this area. If I am going to walk 18, I am gonna hit the ball and swear up a blue streak myself. I also do not suffer the white belt 6 hour a round players. I would likely chuck them in a pond half-way through the back 9.

A couple of friends are pushing consulting, I will have plenty of time to sort that out I suppose. And for the record, the only liars I dealt with in the Navy were detailers and LSOs :). But I don't blame them growing up without fathers, having one eye and a history of sordid relationships with pigs :)

I am looking closely and penciling out what it would take to set up a dry ice blasting business for high end and classic cars. A 4 post lift, couple of machines, and source or ability to make my own pellets are in the details, plus a LOT of air. No one in this area does this and there is a growing Cars N Coffee crowd and PCA, MBCA, and other clubs that have a pretty solid presence. Closest location is 4+ hours away and they charge $250/hr., $1500 minimum. I found a nice shotgun industrial space with a lift, office and bathroom next to local independent BMW tuner for $120K, equipment would run $40-60K. Doing my diligence now to see what that looks like. Honestly would be OK making enough to pay the bills, some hobby $$s and continue pushing some $$s into a 401k. Added benefit that I now have a place to work on the car on a lift.

There are some variations on this theme, as in go a tad bit bigger and tap into the local high end car collector scene and sell shares in a workspace COOP. Tools, Air, and the blasting would be a revenue generator. Could partner with decent local detailer etc...

SOUNDS good, but not really my world so likely full of bear traps.

Local independent Porsche shop owner is 70, I plan on having a beer with him and seeing what his plans are... We are in the same industrial area, so have some of the same challenges.

And I hear you on plumbing. Part of me wants to just get a truck and some decent lawn equipment and mow lawns. Gets me out of the house, exercise, and nobody in my neighborhood can find anyone. Apparently today's kids are all wealthy.

Teach at business school maybe?

Chris,

We’ve got a lot in common. love of Porsches, uniformed service (I’m at 28 years, currently in the Air Guard), I had a small business for 15 years, worked for others, but at age 54 I got a full time job at a community college.

I made tenure last month so the stress level has dropped significantly. My schedule is 3 days a week 9 months/year, full medical/dental.

I enjoy being in the classroom, I teach dental hygiene and dental assistants. The students are great, motivated and professional.

I’m sure you’ve got the minimum qualifications to teach math, physics, or maybe something related to aviation. A lot of community colleges out there, consider being an adjunct professor.

OR How about a Jr. ROTC instructor at a high school. My friend did that for 15 years once he retired from the Air Force.

Just a couple of thoughts. . .

Appreciate the ideas flowing - I have a BS in Ocean Engineering, a MS in Space Systems Engineering, an MBA and a Graduate Certificate in Human Resources (to deal with all of the legal side of employees).

Don't hate the teaching idea...glad I have some time to consider options. Right now, nearly every buyer wants me to stay for a year or more, or some have wanted me to just come over to their team. Kind of ready for something different.

Check your local community college/junior college about adjunct instructing

For the car thing, an independent insurance adjuster. You free-lance and write estimates at the vehicle location. Pays well and flexible.

How about something on the Chesapeake Bay? Boat tours, kayak rentals, shrimping like Forest and Bubba? You could work for someone and let them deal with insurance, etc.

FA-18C,

A couple of auto-centric things come to mind FWIW:

- Headliner replacement. There's a guy down here that seems to do quite well with it. His next door mixed-use neighbor does auto glass so that solves his need for a glass remove/re-install guy to get the one-piece headliners in.

- Engine/cylinder head repair/refurb. As an added bonus, there is the ability to bring marine work on to keep things flowing or more ka-ching.

To keep start-up costs manageable, as always, find and buy the needed tools/equipment used where/when possible.

A friend of mine is setting up to do the dry ice blasting thing. I don’t know much about the #s. He’s off at training now. He expects to get $300/hr in PacNW. Occurs to me would be ideal to work with, or hire, a detailer. Obvious question is, how many ppl in area willing to spend $1K+ for an ice blast, are they one-and-done or recurring biz, and what happens when the second guy in the area gets an ice blasting machine.

Brother, you have the background to do consulting. Maybe get a PMP and set your work schedule to how you want. You will not be without work. Also, take Seahawk (Paul) up on his offer; sage advice will be given.