Entrepreneurship & Small Business

I need to make 50K by next April

  • Last Updated:
  • May 25th, 2017 8:57 pm
Deal Addict
Dec 27, 2007
2033 posts
313 upvotes
Edmonton
TheMaterial wrote:
May 18th, 2017 4:15 pm
Worst idea yet if you are in Ontario. You'd need to be a LICENSED mechanic or Tech even to do backyard brake jobs. If they screw one thing up, you'd be in for a lot more than 50k. You'd 100% want insurance if working on someones car or in their home. Scratch a rim taking it off, that's on you to replace now.

You will run into a world of hurt once the by-law officer visits your place and sees you running a shop with no permit too or proper paper work.

Stick to what you know, graphic design and tutoring.

Any updates on your situation op?
Lets be honest here, if he was licensed, he wouldn't be doing backyard jobs. And who said anything about running a shop, just have some friends and friends of friends and you do small repairs for them.
Scratch a rim? Most people have so much curb rash they don't care. Look at all the kijiji backyard mechanic posts, its probably less than 2% of the actual ones out there cause most don't need to advertise
warming up the earth 1 gas fill-up at a time...
You only live once, get a v8
[OP]
Newbie
Apr 11, 2011
50 posts
4 upvotes
TheMaterial wrote:
May 18th, 2017 4:15 pm
Worst idea yet if you are in Ontario. You'd need to be a LICENSED mechanic or Tech even to do backyard brake jobs. If they screw one thing up, you'd be in for a lot more than 50k. You'd 100% want insurance if working on someones car or in their home. Scratch a rim taking it off, that's on you to replace now.

You will run into a world of hurt once the by-law officer visits your place and sees you running a shop with no permit too or proper paper work.

Stick to what you know, graphic design and tutoring.

Any updates on your situation op?
I appreciate all the feedback so far. Not much updates as of yet.
Looking into all the advice given...contemplating on downsizing but that's going to probably bring alot of other stresses (emotional, logistical, etc)
I wish I had the skill to do the garage car thing lol....
Trying to help out my wife's business but that's been sluggish so 50k is going to be a far stretch.
Still welcoming all advice! =)
Deal Addict
Jun 21, 2016
1407 posts
481 upvotes
Is 50,000 really that hard to make in a year? that's $4000 a month, after taxes?

You could work two 8H shifts as a manager at mcdonalds and make that much, plus weekends. Over 50k after taxes and you get discount on food, not that you'd want to eat it all the time but you could get pop for free, ice cream, take home pie's and muffins

Are you good at fitness? $50+ and hour cash (freelance), clients pay ahead of time (16 week plans, 2-4 sessions a week)
so it's about $1600-$3200 each client you get. 20 clients is the low norm.
Plus online coaching, about $50 a week, usually 10 clients is the low norm, which is $2000 a month ($24000 a year)

You could easily make $50k+ in a year...and clients give you gifts all the time...

high school experince is what you need, do an online 'personal trainer' exam (its multiple choice, you can google the answers during the 'exam') pretty much pay for your certificate gig.

You make good money bartending too, you'd work nights so your wife could watch the kid at night, and you could watch during the day. 50k a year bartending is quite common, making $1000 on a weekend is actually low, especially on special weekends like xmas/stpattys/newyears eve, summers, halloween, etc.

If you can't do those, you can work at best buy, you can buy beats headphones/ other electronics for fairly cheap with a employee discount. I think you have to work there for 3 months first before you get the discount. And sell it on kijiji. Sounds like a joke but I knew a guy in high school that would make a couple hundred a week re-selling stuff. Even $300 a week turns into $15000 a year EXTRA in cash. You can make more on Boxing Day buying deals ahead of others, etc.

I was selling cellphones in high school and made roughly $1000 a month while going to school just doing it half-assed, I think you can make $50k no problem.

Just wondering how old are you? It doesn't sound like you have much work experience, 50k is a low average salary after taxes for the average person, in my opinion. You could drive TRUCKS around and make more, garbage man/bus driver makes $20+ an hour...

I am surprised you are struggling to make it with your wife, or do you need to make $50k yourself ? Still is not very hard.

To be honest, not to sound like an ass but it sounds like you're trying to find an easy buck, your idea's for jobs are a 'hollywood' story way to make money. Just get a job.

:
-freelance from home (graphics design, etc) Why not get a job?
-tutoring (hard to make that type of money in the given timeframe) Could just get a job....
-Starting some small business (concerns include starting cost and time to profitability) starting a business? or get a job?
Member
Oct 15, 2009
264 posts
86 upvotes
Why does it have to be in a year? Why not get a line of credit? Why not borrow against the equity in your mortgage? There are so many options here where you don't actually have to make it in a year but will have some time to pay it off. Yes it will be hard as your monthly payments will go higher but it's way easier than making 50k in 1 year with a full time job and a child. Judging by your posts you're not much of a hustler and the fact that you've already wasted a month since you started this thread gives me no hope for you OP. You should have started at least SOME money making venture outside of your job before you made this post. If you have any skills at all you could figure out a way to use them to your advantage.
Deal Addict
Dec 27, 2007
2033 posts
313 upvotes
Edmonton
Tthere are two types of people in this world : hustlers - and everyone else.

OP is obviously not a hustler it seems like, so looks like he will be working all the way till probably 65 (retirement)

Its okay, theres not many hustlers in this world
warming up the earth 1 gas fill-up at a time...
You only live once, get a v8
Newbie
Jul 8, 2008
15 posts
2 upvotes
Vancouver
50k.. 'donate a kidney', or surrogate mom! :)
all just kidding.
$$$ is so cheap, just borrow.
Sr. Member
User avatar
Jan 26, 2008
690 posts
44 upvotes
Scarborough
Deposit 100 on a sports betting site. Win 9 flips.

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