Hello everyone,
I am interested to know which businesses you consistently steer clear of and why. What life events influenced you to make this choice?
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I started a coffee shop. Wouldn’t recommend. You put a lot of money in to get it going, the potential for the amount you can make is small, and it is a huge amount of work.
Plus it is difficult to get out if you think it is failing. You are constantly paying bills in arrears so if you are struggling for money the only way to pay your outstanding bills is to keep going and earn enough to pay them. But then you have new bills to pay. You’re on a treadmill that is very difficult to get off.
EDIT: To add. a lot of small coffee shop operators have just spent a lot of money to create for themselves a less than minumum wage job they can’t quit.
EDIT2: I think it’s worth pointing out that this business is still going and isn’t ‘officially’ a failure. From the outside probably looks like a successful business. If I worked there full-time instead of hiring a manager it would be able to support me with a salary of about $30k. But given the amount of investment needed, the stress involved, the risk of something going wrong, and the limited top end earnings I wouldn’t recommend it and won’t be doing it again.
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It’s wise to avoid companies with a history of poor customer service, unethical practices, or negative reviews. Always research and consider reviews and ratings before engaging with any company.
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Working with surplus lines, Chubb is my least favorite. They are lowering capacity, introducing exclusions, and boosting rates so sharply on renewals that we have to sell them, and they get upset when we do. I no longer bother sending them new business, except on rare occasions to keep the relationship alive.
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Yes, there are so many companies to avoid, Monsanto being the main one.
Thanks for sharing your experience, Aydin. Starting a coffee shop does sound challenging and demanding, especially with the financial and operational hurdles you’ve described. It’s insightful to hear about the difficulties and risks involved. It’s impressive that you’ve managed to keep the business running despite these challenges. Your perspective on the realities of this venture is valuable for anyone considering a similar path. I appreciate the candid feedback and advice!
Companies like Sports Direct are run-down stores that sell low-quality sports equipment and clothing, but that is not the cause. More than 80% of employees are on zero-hour contracts. A public address system accuses them of not working quickly enough. All warehouse workers are held onsite at the end of their shift for a mandatory search down to their pants by Sports Direct security personnel.