General Advice Needed

RyanGaule

Hi all,


I am looking for some general advice. I am 20 years old and I am soon to be moving into a new house with my partner. We both have relatively good jobs and work full time. Recently I have been toying with the idea of starting a business and after lots of thorough research I have found a franchise which really appeals to me. It has low overheads and a small start up cost.


The only thing that concerns me is that with a mortgage and bills to pay whether it would be a sensible time to pack in my full time and fairly well paid job or not. Also I have roughly £3k in equity in a car which I would be happy to sell in order to fund the initial start up.


Any advice would be much appreciated.

00ec25

no one can offer advice without having done a full financial review of your circumstances, and for that you need to be a qualified registered financial adviser

either you are willing to take a risk or you are not...

lincroft1710

Any franchise should be researched thoroughly, which I'm sure you will do or have done. Often those with low start up cost and overheads bring low income. How does the claimed income from the franchise match up against your current salary? How many months can the two of you live off your partner's salary if your projected income does not materialise? Is there any logical and compelling reason for giving up your job at this rather critical point in your life?