How can I get in on my fathers trailer lot investment?

 Cbt Cbt subscriber Posts: 2 Member
I'm 16 years old and my Dad owns/ manages a trailer lot. He inherited it from his father and has put very little time or effort into working to maximize his profits from the park. Is there any chance I could even get in on it with him? I have just a few grand, and I do not know how to approach my dad to talk about this. Any answers would be helpful.

Comments

  • Ryan O'BlenessRyan O'Bleness Birmingham, Mich. administrator Posts: 1,135 Site Admin
    edited March 2017
    Hi, welcome to the community. 

    Do you feel comfortable talking to your dad about other topics? If you have that kind of relationship, then the best thing to do is simply ask. Tell him your ideas for it. Explain that you don't have a lot of money to put into it, but you're willing to work for equity. 

    If you don't have that kind of relationship, then you need to find common ground with him. Be honest and tell him you think the lot needs more attention, which you could take on. Tell him you'll need more of his help and resources, but you feel comfortable taking on the responsibilities. 

    One strategy might be to map out your ideas with a presentation or document, so he can see the time, effort and idea creation you've put into this project by looking at something concrete.

    Hope this helps! 
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
  •  Cbt Cbt subscriber Posts: 2 Member
    Thanks for the reply! My dad and I have a great relationship, and I'm sure he'd be open to talking. I just didn't know how to bring it up. I have educated myself on the topic a lot and I think that a presentation would be a great idea.
  • Ryan O'BlenessRyan O'Bleness Birmingham, Mich. administrator Posts: 1,135 Site Admin
    edited March 2017
    That's good, it will make approaching him a lot easier, and a lot less intimidating than talking to somebody you don't have a relationship with. 

    I think you simply just ask him if he has time to talk about the trailer lot he has inherited, and you set up a time to show him your presentation. Tell him you're interested in entrepreneurship and this would be a great way for you to learn about running a business -- all of the ups and downs involved.

    The fact that you could gain this real-life experience at such a young age is invaluable. As you get older and have other business ideas you want to start, you'll have an idea of what it takes to run them. Your situation is a bit different than starting a business from scratch because the business is already established, but you'll learn how to grow and manage a sustainable business. Good luck! 
    Ryan O'Bleness
    Community Manager
    StartupNation, LLC
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