Question

Should I go to college or start my clothing company?

I'm 20 years old and recently finished my 2 years at my local community college. I can transfer to a four year now but I'm not sure i even want to. If i do ill have to fork over the 20k I've saved these past two years. I think I'd rather use the money to pursue my dream. Am I a fool? I'm aware the majority of all startups fail but I think I need to at least try.

8 months ago - 4 answers

Best Answer

Chosen by Asker

Most startups fail because they were not sufficiently capitalized. Remember, you can't just put all of that $20K into the company, you have to live on it, too. And you won't be able to do this unless you take out massive loans, since you don't have any other funds. What are you going to do next year, and the year after that? Most companies that survive don't start turning a profit until they have been in business for at least 5 years.

Go to college, take business courses, and find a part time job in the clothing trade, even if this is just selling clothes at Old Navy.

8 months ago

Other Answers

Start the company and go to school?

This is what I would do. Make a solid business plan, if you believe after making the plan that you could start making money quickly, then go for it. Be realistic.

by MoneyMakuhhDontbeaHataa - 8 months ago

Look, lets face it, you have 20k, which is not much. if you go after your dream now, you might end up in the middle of nowhere. you should try to get a degree, then a get a good job, get some more money, then you can try and run your business as you have a source and a back up too in case your business fails...I hope you get it.

by Hiren - 8 months ago

Congratulations on saving 20K in two years. This shows you know it takes commitment and purpose to reach a goal. Since 20K is not much money to start & run a business, perhaps you should consider finding employment to keep an income and build on your savings. You may be able to research/study the type of business that interests you at the same time. Plan, prepare & save for your dream. College will be there if and when you are ready for it.

by Barkley - 8 months ago