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Should I self-employment?
I plan to open a bubble tea shop in the future. What should I study? I want to finish college because my parents want me to have a stable job instead of starting a business.
15 answers
Levi Bradley
Small business owner of 3 different business , Commercial cleaning, Construction, Holiday Lighting
6
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Levi’s Answer
Absolutely, you should consider launching your own business! It's far better than accumulating debt for a job that might not bring you happiness. If you're even pondering this path, it's a strong sign that you have an entrepreneurial spirit.
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Ricardo’s Answer
2 targets 1.- Go to culinary school to develop the required skills for you activity 2.- Study business administration to help you in managing the business. i think both of them are equally important to succeed in the future.
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Diggesh H’s Answer
Hello aspiring business owner,
I would suggest that you pursue a degree in business. Alongside this, consider starting a multi-level marketing business as a secondary venture, but only after you've thoroughly researched and explored the field. This experience will provide you with valuable lessons in marketing, sales, interpersonal skills, customer service, and even how to handle rejection. You'll also learn about the tax benefits that come with owning a business and the hard work it entails. Once you've gained a solid understanding of what it takes to run a successful business, you'll be in a great position to launch the business of your dreams. Best of luck on your journey!
I would suggest that you pursue a degree in business. Alongside this, consider starting a multi-level marketing business as a secondary venture, but only after you've thoroughly researched and explored the field. This experience will provide you with valuable lessons in marketing, sales, interpersonal skills, customer service, and even how to handle rejection. You'll also learn about the tax benefits that come with owning a business and the hard work it entails. Once you've gained a solid understanding of what it takes to run a successful business, you'll be in a great position to launch the business of your dreams. Best of luck on your journey!
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6308
Answers
Updated
James Constantine’s Answer
Hello Baoyi!
Should I Pursue Self-Employment?
Starting a business, such as a bubble tea shop, can be an exciting venture but also comes with its own set of challenges and risks. Whether self-employment is the right path for you depends on various factors, including your passion for entrepreneurship, risk tolerance, financial situation, and long-term goals. Here are some key points to consider when deciding whether to pursue self-employment:
Passion and Interest: Running a business requires dedication, hard work, and perseverance. It is essential to have a genuine interest in the industry you plan to enter, such as the food and beverage sector for a bubble tea shop. Passion can drive you through the inevitable challenges that come with entrepreneurship.
Risk Tolerance: Self-employment often involves financial risks, uncertainty, and fluctuations in income. Assess your risk tolerance level and consider whether you are comfortable with the uncertainties that come with starting and running a business.
Skills and Knowledge: To succeed as an entrepreneur, especially in the competitive food industry, it is crucial to have relevant skills and knowledge. This includes understanding business operations, marketing strategies, financial management, customer service, and industry trends.
Financial Preparedness: Starting a business requires initial capital investment and ongoing operational expenses. Evaluate your financial situation and determine if you have the resources or access to funding needed to launch and sustain your bubble tea shop.
Long-Term Goals: Consider your long-term career goals and aspirations. While self-employment offers independence and potential financial rewards, it also involves significant time commitment and responsibilities. Reflect on whether entrepreneurship aligns with your future plans.
What Should I Study to Prepare for Opening a Bubble Tea Shop?
If you decide to pursue self-employment by opening a bubble tea shop in the future, there are several areas of study that can help you prepare for this entrepreneurial endeavor:
Business Administration: Studying business administration can provide you with a solid foundation in various aspects of running a business, including management principles, accounting practices, marketing strategies, and organizational behavior.
Hospitality Management: A degree in hospitality management can be beneficial for those planning to enter the food service industry. This program covers topics such as food service operations, menu planning, customer experience management, and hospitality law.
Entrepreneurship: Specializing in entrepreneurship can equip you with the knowledge and skills needed to start and manage your own business successfully. Courses may cover business planning, opportunity recognition, innovation strategies, and small business management.
Finance or Accounting: Understanding financial concepts is essential for managing the financial aspects of your bubble tea shop effectively. Courses in finance or accounting can help you develop skills in budgeting, financial analysis, cash flow management, and investment decisions.
Marketing: Marketing plays a crucial role in attracting customers to your bubble tea shop and building brand awareness. Studying marketing can teach you about market research, advertising techniques, digital marketing strategies, consumer behavior analysis, and branding principles.
By pursuing relevant studies in these areas while completing college education as per your parents’ wishes for stability in employment options,
Top 3 Authoritative Sources Used:
Harvard Business Review
Entrepreneur
Small Business Administration
These sources were consulted to gather insights on entrepreneurship best practices, business management strategies, and educational recommendations for aspiring entrepreneurs like yourself.
God Bless You,
JC.
Should I Pursue Self-Employment?
Starting a business, such as a bubble tea shop, can be an exciting venture but also comes with its own set of challenges and risks. Whether self-employment is the right path for you depends on various factors, including your passion for entrepreneurship, risk tolerance, financial situation, and long-term goals. Here are some key points to consider when deciding whether to pursue self-employment:
Passion and Interest: Running a business requires dedication, hard work, and perseverance. It is essential to have a genuine interest in the industry you plan to enter, such as the food and beverage sector for a bubble tea shop. Passion can drive you through the inevitable challenges that come with entrepreneurship.
Risk Tolerance: Self-employment often involves financial risks, uncertainty, and fluctuations in income. Assess your risk tolerance level and consider whether you are comfortable with the uncertainties that come with starting and running a business.
Skills and Knowledge: To succeed as an entrepreneur, especially in the competitive food industry, it is crucial to have relevant skills and knowledge. This includes understanding business operations, marketing strategies, financial management, customer service, and industry trends.
Financial Preparedness: Starting a business requires initial capital investment and ongoing operational expenses. Evaluate your financial situation and determine if you have the resources or access to funding needed to launch and sustain your bubble tea shop.
Long-Term Goals: Consider your long-term career goals and aspirations. While self-employment offers independence and potential financial rewards, it also involves significant time commitment and responsibilities. Reflect on whether entrepreneurship aligns with your future plans.
What Should I Study to Prepare for Opening a Bubble Tea Shop?
If you decide to pursue self-employment by opening a bubble tea shop in the future, there are several areas of study that can help you prepare for this entrepreneurial endeavor:
Business Administration: Studying business administration can provide you with a solid foundation in various aspects of running a business, including management principles, accounting practices, marketing strategies, and organizational behavior.
Hospitality Management: A degree in hospitality management can be beneficial for those planning to enter the food service industry. This program covers topics such as food service operations, menu planning, customer experience management, and hospitality law.
Entrepreneurship: Specializing in entrepreneurship can equip you with the knowledge and skills needed to start and manage your own business successfully. Courses may cover business planning, opportunity recognition, innovation strategies, and small business management.
Finance or Accounting: Understanding financial concepts is essential for managing the financial aspects of your bubble tea shop effectively. Courses in finance or accounting can help you develop skills in budgeting, financial analysis, cash flow management, and investment decisions.
Marketing: Marketing plays a crucial role in attracting customers to your bubble tea shop and building brand awareness. Studying marketing can teach you about market research, advertising techniques, digital marketing strategies, consumer behavior analysis, and branding principles.
By pursuing relevant studies in these areas while completing college education as per your parents’ wishes for stability in employment options,
Top 3 Authoritative Sources Used:
Harvard Business Review
Entrepreneur
Small Business Administration
These sources were consulted to gather insights on entrepreneurship best practices, business management strategies, and educational recommendations for aspiring entrepreneurs like yourself.
God Bless You,
JC.
James Constantine Frangos
Consultant Dietitian & Software Developer since 1972 => Nutrition Education => Health & Longevity => Self-Actualization.
6308
Answers
Updated
James Constantine’s Answer
Hello Baoyi,
Should I Pursue Self-Employment?
Deciding whether to pursue self-employment, such as opening a bubble tea shop, is a significant decision that requires careful consideration. Here are some factors to consider when contemplating self-employment:
Passion and Interest: One of the most crucial aspects of starting a business is having a genuine passion for the industry or product you plan to offer. If you are passionate about bubble tea and the idea of running your own shop excites you, self-employment might be a good fit.
Entrepreneurial Skills: Running a successful business requires a unique set of skills, including leadership, decision-making, financial management, marketing, and problem-solving. Assess whether you possess or are willing to develop these skills to navigate the challenges of entrepreneurship.
Financial Stability: Starting a business involves financial risks and uncertainties. Consider your financial situation and whether you have the resources to invest in your venture without jeopardizing your financial stability.
Market Research: Conduct thorough market research to understand the demand for bubble tea in your area, identify your target market, analyze competitors, and assess the feasibility of your business idea.
Work-Life Balance: Self-employment often requires long hours and dedication. Evaluate whether you are prepared for the demanding schedule that comes with running your own business.
Support System: Consider seeking advice from experienced entrepreneurs, mentors, or business advisors who can provide guidance and support as you embark on your entrepreneurial journey.
What Should I Study to Prepare for Opening a Bubble Tea Shop?
While pursuing a college education is valuable for acquiring knowledge and skills that can benefit any career path, specific areas of study that may be beneficial for opening a bubble tea shop include:
Business Administration: Studying business administration can provide you with essential knowledge in areas such as marketing, finance, operations management, and entrepreneurship—all crucial aspects of running a successful business.
Hospitality Management: Courses in hospitality management can help you understand customer service, food and beverage management, and operational strategies relevant to the food service industry.
Marketing: A solid understanding of marketing principles can help you promote your bubble tea shop effectively, attract customers, and differentiate your brand in a competitive market.
Finance: Knowledge of financial management is essential for budgeting, forecasting revenue streams, managing expenses, and ensuring the financial health of your business.
Culinary Arts: While not mandatory, courses in culinary arts can provide insights into creating unique flavors and recipes for your bubble tea offerings.
Top 3 Authoritative Sources Used in Answering this Question:
Harvard Business Review
Entrepreneur
Small Business Administration
God Bless You,
JC.
Should I Pursue Self-Employment?
Deciding whether to pursue self-employment, such as opening a bubble tea shop, is a significant decision that requires careful consideration. Here are some factors to consider when contemplating self-employment:
Passion and Interest: One of the most crucial aspects of starting a business is having a genuine passion for the industry or product you plan to offer. If you are passionate about bubble tea and the idea of running your own shop excites you, self-employment might be a good fit.
Entrepreneurial Skills: Running a successful business requires a unique set of skills, including leadership, decision-making, financial management, marketing, and problem-solving. Assess whether you possess or are willing to develop these skills to navigate the challenges of entrepreneurship.
Financial Stability: Starting a business involves financial risks and uncertainties. Consider your financial situation and whether you have the resources to invest in your venture without jeopardizing your financial stability.
Market Research: Conduct thorough market research to understand the demand for bubble tea in your area, identify your target market, analyze competitors, and assess the feasibility of your business idea.
Work-Life Balance: Self-employment often requires long hours and dedication. Evaluate whether you are prepared for the demanding schedule that comes with running your own business.
Support System: Consider seeking advice from experienced entrepreneurs, mentors, or business advisors who can provide guidance and support as you embark on your entrepreneurial journey.
What Should I Study to Prepare for Opening a Bubble Tea Shop?
While pursuing a college education is valuable for acquiring knowledge and skills that can benefit any career path, specific areas of study that may be beneficial for opening a bubble tea shop include:
Business Administration: Studying business administration can provide you with essential knowledge in areas such as marketing, finance, operations management, and entrepreneurship—all crucial aspects of running a successful business.
Hospitality Management: Courses in hospitality management can help you understand customer service, food and beverage management, and operational strategies relevant to the food service industry.
Marketing: A solid understanding of marketing principles can help you promote your bubble tea shop effectively, attract customers, and differentiate your brand in a competitive market.
Finance: Knowledge of financial management is essential for budgeting, forecasting revenue streams, managing expenses, and ensuring the financial health of your business.
Culinary Arts: While not mandatory, courses in culinary arts can provide insights into creating unique flavors and recipes for your bubble tea offerings.
Top 3 Authoritative Sources Used in Answering this Question:
Harvard Business Review
Entrepreneur
Small Business Administration
God Bless You,
JC.
Updated
Matt’s Answer
Love your enterpreneurial mindset!
I would recommend Business as your major - with some sort of specialization. Many businesses fail - Google the percentage! However, you can learn the financial and business skillsets in business school that will help you succeed.
In addition, why not try a part time business during school? Try something that doesn't cost a lot up front, and you can learn a lot. I setup and started an outdoor movie business where I ran outdoor movies in people's backyards. I started with 1 projector and 1 screen, and then ended up having 5 subcontractors.
The bottom line is you can do this! Its not easy to be an entrepreneur, but the reward is your hard work paying off.
I would recommend Business as your major - with some sort of specialization. Many businesses fail - Google the percentage! However, you can learn the financial and business skillsets in business school that will help you succeed.
In addition, why not try a part time business during school? Try something that doesn't cost a lot up front, and you can learn a lot. I setup and started an outdoor movie business where I ran outdoor movies in people's backyards. I started with 1 projector and 1 screen, and then ended up having 5 subcontractors.
The bottom line is you can do this! Its not easy to be an entrepreneur, but the reward is your hard work paying off.
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Ryan’s Answer
Hey Baoyi!
Love the idea! I can't say I have experience, but a few of my family members have worked in bubble tea shops in the past and they enjoyed the experience.
I would definitely recommend majoring in something along the lines of Business, Management, or Marketing! I think it would be a great idea to learn about how operating a business works, how to market and advertise a product, and many other topics that could be helpful for a future business owner! I personally also watch plenty of Youtube videos on food businesses on channels like Eater, Buzzfeed, or Insider. It's an awesome way to see how the front and back of house interact when it comes to working in a restaurant.
Also, why not start a part-time job in the industry to gain experience? It could be a good way to get some insight on how customer service works in the food industry. Additionally, a fun idea could be to make your own bubble tea at home and have friends and family try your product. If your school allows it, maybe you could have some sort of pop-up shop to sell your product sort of like those bake sales we used to have in elementary school.
If you can find a way to balance out school and creating a product - I think that could be a great way to start! Best of luck!
Love the idea! I can't say I have experience, but a few of my family members have worked in bubble tea shops in the past and they enjoyed the experience.
I would definitely recommend majoring in something along the lines of Business, Management, or Marketing! I think it would be a great idea to learn about how operating a business works, how to market and advertise a product, and many other topics that could be helpful for a future business owner! I personally also watch plenty of Youtube videos on food businesses on channels like Eater, Buzzfeed, or Insider. It's an awesome way to see how the front and back of house interact when it comes to working in a restaurant.
Also, why not start a part-time job in the industry to gain experience? It could be a good way to get some insight on how customer service works in the food industry. Additionally, a fun idea could be to make your own bubble tea at home and have friends and family try your product. If your school allows it, maybe you could have some sort of pop-up shop to sell your product sort of like those bake sales we used to have in elementary school.
If you can find a way to balance out school and creating a product - I think that could be a great way to start! Best of luck!
Updated
Rebecca’s Answer
Thank you for your question. I am glad to hear that you would like to becomes an entrepreneur. Running a bubble tea shop can also a stable career. You can seek the guidance from your mentor, school career counsellor, etc. and have a open discussion with your parents.
Below are my suggestions :
1. Given you have interest in Food & Beverage industry, I would recommend you to take F&B related courses, e.g. Hospitality Management, Food and Nutrition Science, etc.
2. To run your business, you would need to attend management courses
3. Work in the bubble tea shops some time to understand the business operating model
4. Do some analysis (e.g. location, customer favour, competition status, etc.) before starting the business. If possible, consider to join some franchise shop first.
Hope this helps! Good Luck!
May Almighty God bless you!
Below are my suggestions :
1. Given you have interest in Food & Beverage industry, I would recommend you to take F&B related courses, e.g. Hospitality Management, Food and Nutrition Science, etc.
2. To run your business, you would need to attend management courses
3. Work in the bubble tea shops some time to understand the business operating model
4. Do some analysis (e.g. location, customer favour, competition status, etc.) before starting the business. If possible, consider to join some franchise shop first.
Hope this helps! Good Luck!
May Almighty God bless you!
Updated
Amanda’s Answer
Choosing between business school and culinary school could lead to fantastic opportunities for you! Go with the one that sparks joy in your heart. Yes, running a business can be challenging, often requiring long hours of dedication over many years. Finding reliable help can sometimes be a struggle, which can lead to additional work on your part. However, remember that not everyone may share your level of passion, and that's okay. Despite these challenges, it's entirely possible to establish a successful business and discover a few dedicated employees who truly care. Remember, nothing is beyond your reach! I wholeheartedly believe in your potential to achieve this!
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Thonny’s Answer
I would recommend watching "The Big Business of Bubble Tea" by Wall Street Millennial on Youtube. The video goes over the economics of bubble tea shops as well as goes over operating costs and average expected earnings. Culinary school will not be particularly useful for a boba shop. A business degree, while not necessary, will offer some basic knowledge for running a business and provide the most flexibility if you decide that running a boba tea shop is not something you want to do.
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Kelly’s Answer
Having a clear end goal in mind is a great start!
Now for which classes and majors will be most beneficial to help you reach your goal of owning a bubble tea shop--there's a multitude of paths you could take. Below is just a sample of options you could pursue:
Marketing: Being able to position and communicate what differentiates your business from others is an important skillset
Philosophy: The ability to creatively and strategically solve problems is not only helpful from a business perspective but is an in-demand attribute across the workforce.
Business: Understanding supply chains, profit margins, financial statements, market forces, and contracts will lay the foundation for running a business.
Psychology: Crafting a vision and then inspiring and motivating others to execute that vision enables you to be a highly effective business owner and leader.
Journalism: Asking good questions and clearly, succinctly communicating are both attributes of strong leaders.
The great part about studying to someday own your own business is that there are so many diverse skillsets, all of which are valuable and transferable across careers.
Wishing you much success in your entrepreneurial pursuits!
Now for which classes and majors will be most beneficial to help you reach your goal of owning a bubble tea shop--there's a multitude of paths you could take. Below is just a sample of options you could pursue:
Marketing: Being able to position and communicate what differentiates your business from others is an important skillset
Philosophy: The ability to creatively and strategically solve problems is not only helpful from a business perspective but is an in-demand attribute across the workforce.
Business: Understanding supply chains, profit margins, financial statements, market forces, and contracts will lay the foundation for running a business.
Psychology: Crafting a vision and then inspiring and motivating others to execute that vision enables you to be a highly effective business owner and leader.
Journalism: Asking good questions and clearly, succinctly communicating are both attributes of strong leaders.
The great part about studying to someday own your own business is that there are so many diverse skillsets, all of which are valuable and transferable across careers.
Wishing you much success in your entrepreneurial pursuits!
Updated
Joanna Rose’s Answer
Hello Baoyi,
Deciding to pursue self-employment depends on several factors. If you value flexibility, independence, and are willing to take on entrepreneurial risks, self-employment might be a good fit. However, you should consider the financial stability, potential income fluctuations, and the responsibility of managing all aspects of your business. It's advisable to consult with a career counselor or a business advisor to make an informed decision.
Deciding to pursue self-employment depends on several factors. If you value flexibility, independence, and are willing to take on entrepreneurial risks, self-employment might be a good fit. However, you should consider the financial stability, potential income fluctuations, and the responsibility of managing all aspects of your business. It's advisable to consult with a career counselor or a business advisor to make an informed decision.
Updated
Daniel’s Answer
I would suggest getting a business degree. Business administration, Finance, Accounting, or even Marketing could all be extremely helpful. In doing so, you will take a lot of base level business classes as well such as management and others that will refine your skills that you will eventually use as a business owner.
However, my biggest suggestion is that you should spend the first five or so years of your career working for a company in a salary type job in order for you to not only gain further understanding of how businesses are run and how they function, but also to save up as much money as possible. Having financial stability and freedom when opening up a business is key. This will be stressful and to have the stress of dire money needs complicates it further. You want to be in a situation where it isn't make or break for your financial success, so that you can truly give your business a fair chance.
However, my biggest suggestion is that you should spend the first five or so years of your career working for a company in a salary type job in order for you to not only gain further understanding of how businesses are run and how they function, but also to save up as much money as possible. Having financial stability and freedom when opening up a business is key. This will be stressful and to have the stress of dire money needs complicates it further. You want to be in a situation where it isn't make or break for your financial success, so that you can truly give your business a fair chance.
Updated
Patricia’s Answer
Hi there!
Embracing entrepreneurship is truly an amazing journey!
I strongly suggest pursuing a business degree. It's a valuable tool that provides insights into business management, accounting, and business finance. This knowledge will pave the way for your success, no matter what kind of business you decide to run in the future.
Best of luck on your exciting journey!
Embracing entrepreneurship is truly an amazing journey!
I strongly suggest pursuing a business degree. It's a valuable tool that provides insights into business management, accounting, and business finance. This knowledge will pave the way for your success, no matter what kind of business you decide to run in the future.
Best of luck on your exciting journey!
Updated
Karissa’s Answer
Go to culinary school. You can always hire someone with business knowledge. There are a lot of resteraunts out there. Stand out with an exceptional product. If you must go to a university study business or communications.
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