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Stay in college or open up my own business?
My question is should I get a bachelors degree in my desired field, or should I use my associates degree and work experience to start my own business and become my own boss?
I am currently 20 years old, and a graduate of the culinary institute of america. Needless to say I've had amazing teachers when speaking of culinary/management instruction. Because of this I feel compelled to start my own restaurant/catering business in the next 3-4 years. However I am currently employed with a major global hotel chain that is interested in offering me a position in their management in training program, under the condition that I earn a bachelors degree first.
My current dream is to start a business with my 4 closest friends, but I feel like the safer road would be to stay with my company and grow. I just really hate working for other people, although I understand its necessary to grow and learn, plus I don't want to spend the money own another 2-3 years of college. Due to my parents connections I will have the availability of 300k in startup money, plus a combined 50k that my friends and I have saved. What would you do?
I worked in restaurants for 15 years, and wanted to start my own for years. I ended up starting an internet business and have been at it for 5 years. I would recommend staying at your current job, getting your degree as cheaply as possible, with a backup degree outside of the restaurant field if possible (business degree, etc.). Restaurants are HIGHLY likely to go under in the first year, as I'm sure you know, so get all the experience you can from your current company which I assume has succeeded well enough, and would have lots to teach you. If I could go back in time, I would try to do every job possible in my old restaurants I worked for so I had training getting good at those things. Ordering, Hire/firing, marketing, helping with the new menu and recipes, paying the bills, etc, etc. Learning the hardway is really inefficient, so learn from your current business, and give them all you've got, learning all you can, until you've outgrown that job and are ready to launch out on your own. This will also give you time to really understand if you want to follow the path you are considering, which is only right for a very few people, and is a hard life. Wife and kids turned me away from the restaurant business. Getting home after the kids are in bed didn't work for me, not to mention the late night drinking, drugs, girls, etc that goes along with the restaurant lifestyle. It's fun when you're 20, but not when you're 30. Your time with your current job will be worth far more that your time in college. I wish you the best.
Source(s):1 year ago
stay in school and get your bachelors. and stick with the company your with right now. this would give you more experiences plus opening a small business, you can do that later on. take whatever opportunity you can get, you're still young.by Kelli C - 1 year ago
go work in a restaurant for 4-5 years then
come back and ask.
Restaurants are great places to lose money
do your research. at 20 u aren't even a good
bet for money. sorry.
get the education and experience. start small.
25 seats work your way up.
learn about the financial nightmares u can create
for YOU , family and friends.
sorry u ten years ahead of your self.
get your BS and go through the training program.
u ' ll thank us later.
good knowledge is good luck.
u need both.
Source(s)by Rob - 1 year ago
Follow your dreams bro. As long as your happy.
Source(s)by Anthony - 1 year ago