Starting With A New Business At Age Of 57

Hi friends,

my father is going through a bad phase. and along with him me and my mother as well.

He is running a rented shop with few confectionery items. Its monthly rent is Rs. 2600 plus the electricity bill approx Rs. 500 per month.

He is handling the expense of my brother's fee as well i.e. Rs. 1800 per month

Apart from it 1500 per month for milk and 1000 for other vegetables stuff and all. Home's electricity bill comes around 1000-1500 for two months. ( me and my father are switching on electricity bill as of now)
This makes around 7000-8000 rs. per month fixed expenditure ( excluding what i am handling)

It dawned on me when he recently sent me a whatsapp text while i was in office that " its a humble request please pay the shop's rent this month as i have no money left in my account"

When i asked him face to face he told me that he is not able to bear the shop's rent now and my brother's fees as well as there is no income from shop ( no stuff in the shop because of low investment).

I have been constantly supporting him to buy shop's stuff but he end up covering the shop's rent and brother's fees with the amount i have given to him. Recently we have handled my sister's son first b'day event where we being the "nankas" have to give some good gifts. I didn't bother my father for same and made all the expenses on my own for that event.

Now as my father talked to me openly, we have come to a conclusion to drop off the shop and start some new business from home.

My father was previously doing business of police uniforms , and he want to do the same now.

We will get some money around 14-15000 for the shop as we are giving it some other person with all the stuff in it (i.e. big coco-cola refrigerator, cabinets, counter, and some confectionery items as well)

My plan is to add some money in that 14000 i.e. around 10,000 and with Rs. 24,000 my father can start the uniform business from home.

Please suggest if that can be a beneficial thing ? is it a wise decision to leave the shop and start a business from home ?

I am really confused. As i am saving for my marriage also i can support in limited amount because ultimately spending on marriage is also an indirect support to my father. I have no idea what to do. m getting stressed day by day that even got fainted last night. If any of you have some good suggestions , i am waiting.

 

my brother is just 12 years old currently , i am not sure about his help in such small age.

I know its a phase. the issue is my father is very impatient. he will get panic in a few days after leaving shop and will say " we must have not left the shop" i am afraid of this and the stress that will come with such issues. He just want a fixed amount of income without much pain ( that might be coz he has already worked hard for a lot of years till date)..

I hope this will pass soon. Thanku for ur valuable reply

 

@yellowmango @JGVR @sonal1611

thankyou for your wonderful replies.

I talked to my father yesterday that what his plan is regarding future business... this is what he suggested

We must put eggs, breads ( as yellowmango said) and seasonal festivities like holi colors and water balloons at shop all this worth Rs. 4000-5000 approx. and on the other hand start off with a small bundle of uniforms. He said he will analyze the market of uniform business that what is in store for us there. How the market has been developed in past 5 years ( since 5 years he has been out of that business) and this is also an investment of around Rs. 5000-6000 from which he is hopeful of getting a profit of 1,000- 2,000 rupees.

I am supposed to support him for Rs. 10,000 ( that i will)

My sister also gets to know this nd insisted on supporting my father. but we are not in good terms with her in-laws on money matters and also she is not working that means the money she will get ,it will be from her husband. Now he himself is not directly involved in this. He like never asks my parents that how the business is running and how the things are going on our side ( blame my sister for that). Me and my mom are confused on should we get money from her or not.

in just 10,000 rupees, it seems difficult to me to get enough profits so that the finances will get a kick start. and I cant afford more than 10,000 as i have to finance my mother's business as well ( not to forget the savings for marriage)

My mother's achaar we dont want to display on shop because my father never shares the profit and never give a single penny to my mother. the motive behind starting off a pickle business is to make my mother independent in terms of money so that she will not get tensed after my marriage.

What you all think on this ? I know its soooo complicated but i hope seeing the situation from a far end makes it easier to give suggestions..

 

We live in a two bhk house , family of four.. Do not have any extra room or something so that option is not there for us. Thanku for your suggestion anyway

It might get possible once i will be away

 

I have no idea if he is confident or not @yellowmango , he is always talking negative for everything.

I am feeling like i will give up in sometime. Its been long i have been holding myself being strong, its getting difficult day by day.

I have given the money to my mother after withdrawing from bank. We are waiting for my father to open up as he has not directly talked about money from me. He is expecting some random people to help him ( he has discussed all the internal matters with random people coming on his shop everyday ) discussing matters with few good friends is a different thing but to everyone under the sun, is very irritating sometimes. People see us with pity because of this and i hate that. He always want to gain sympthy from people and i dont know why.

What do u suggest should we give him the money without him asking for it or should we wait until he opens up the discussion clearly ? Till now he has been talking indirectly that money is required for work but is not saying a single word on from where the money will come. May be he is hesitating but he do this everytym. And when he is again in need, he would say "I haven't asked from you, you have given me urself, i would have done something if you hadn't gave me the money that time." I am getting fed up dear.