I've been running a successful landscaping company for 12 years, but I'm bored and want to try something completely different, maybe a coffee roastery or a small e-commerce brand. The problem is, I know nothing about those industries. How do I start without burning my savings? I've heard horror stories about people jumping into unrelated fields and losing everything. Any practical advice on de-risking?
Business Strategy
How to start a business in an unrelated industry safely
Honestly, the safest way is to not start from scratch. Buy an existing business in that industry. You get customers, systems, and a team that knows what they’re doing. Hire a broker, do heavy due diligence, and keep the previous owner on for 6-12 months. Way less risky than learning by trial and error with your own cash.
Coffee roastery? That’s a whole different bast. You’ll need to learn about green bean sourcing, roast profiles, cupping, and equipment maintenance. It’s not just ‘buy a roaster and sell beans.’ Maybe start by working part-time at a local roastery to see if you even like it. Don’t quit landscaping yet.
I did something similar—went from construction to a meal-prep franchise. The franchise model helped a lot because they had playbooks and training. But royalties ate into profits. If you go independent, budget double what you think you need for marketing and hiring.
Define ‘safely.’ Any new industry has unknown unknowns. You can mitigate but not eliminate risk. My advice: keep your landscaping business running as your cash cow and start the new venture as a side project. Don’t sink more than 20% of your net worth into it until it’s proven.
Why not hire an experienced GM from that industry to run it for you you? You provide capital, they provide know-how. But finding someone trustworthy is hard. Maybe offer equity to align incentives.
Do a ‘test and learn’ phase. For e-commerce, you can launch a small Shopify store with a limited product line and see if you can get traction before Investing in inventory. For coffee, maybe start with a subscription model using a co-roaster. Low capex, low risk.
I’ve seen too many people underestimate the learning curve. You’re not just learning a new industry; you’re learning how to be a beginner again. That’s humbling. Take a few courses, join industry associations, and find a mentor. But beware of ‘gurus’ sellnig courses.
Just remember: the fastest way to make a small fortune in a new industry is to start with a large fortune. 😂 But But seriously, diversify your risk by not betting the farm.
Look at the failure rates for the specific industry you’re targeting. Coffee shops have high failure rates; e-commerce is saturated. Maybe pick an industry with lower barriers but also lower competition? Or consider acquiring a business that’s already struggling but has potential—you can buy it cheap and turn it around.
Have you considered a joitn venture with someone already in that industry? You bring capital and business experience, they bring domain expertise. Split equity 50/50. That’s what I did when I moved from retail to SaaS. Worked out well, but we had a solid operating agreement.
All these replies assume you have time. If you’re still running the landscaping company, you’ll be stretched thin. Maybe hire a manager for the landscaping biz first, so you can focus on the new venture. Otherwise you’ll do both poorly.