A Good Time to Expand your business?

[Sweetlybroken]

I am really getting nervous about my husband's decision to purchase some new equipment for our business right now. I have pretty much always told him to do what he feels is best when it came to these matters, but I've been telling him for months now that I don't think his newest decision is a good one.
He ordered the equipment and signed for them this week. I am really nervous about this. Maybe someone else has a more optimistic view? I would love to hear it.

[FarmBoy]

I am really getting nervous about my husband's decision to purchase some new equipment for our business right now. I have pretty much always told him to do what he feels is best when it came to these matters, but I've been telling him for months now that I don't think his newest decision is a good one.
He ordered the equipment and signed for them this week. I am really nervous about this. Maybe someone else has a more optimistic view? I would love to hear it.

Whats his business?

[jda303]

It depends on what his business is. I am a bankruptcy attorney, so when everyone else is doing poorly, I have as much business as I can possibly handle, and vice versa. So, what does he do? What kind of equipment was purchased? Etc.?

[Sweetlybroken]

Trucking. Our main commodity is dry wall.

We haul to building supply companies big and small. He just purchased two 40ft trailers and also wants to buy a new freightliner.
By our line of work, you can probably see why the concern.

[jda303]

Then I certainly understand and agree with your concern. Were the items financed or purchased with cash?

[Sweetlybroken]

jda, here's the thing. He ordered them months ago. I asked him if they were in production or could he cancel his order. He couldn't. He was already committed, and really felt it was a good decision anyway.
I guess I am getting to him a bit because at first he was going to take the money out of our savings to purchase them, but changed his mind and financed them.
He is also starting to rethink the new truck. I think I am getting through, but would hate to discourage him if I am wrong.
He is always a very optimist person! Say, 'Pollyanna' ten x's!

[FarmBoy]

I can see why you are nervous. If you can't get out of purchasing the trucks then you'll need to squeeze lemonade out of those lemons. Time to start finding other types of cargo to haul. Expand your customer base.

You might also be able to lease out the truck/trailers and at least cover the payments. Do it until business comes around and you need it yourself.

or take delivery and immediately sell them. You'll probably lose a little on the deal but you won't have that burden either.

[Lazarus01]

I hope for your family's sake, that it works out fine. But the issue here is not the business decision but your husband's relatiosnhip with God his Father. And your relatiosnhip with God as well. Can you trust God in this? If so, then you should be able to be quiet after you have made your concerns known. If you husband won't listen to you then he may get the opportunity to learn how God directs His children in a marriage.

But overall, do not let your fear drive a wedge between you and your husband. Sarah trusted God and called Abraham lord. Your family may suffer for your husbnad's foolishness, but it will be light in regards to the eternal benefit you both will enjoy as you move to closer to God through the process.

He is a good God and can be trusted, even with the foolishness of others.

Blessings.

[Nova]

I'm with FarmBoy, maybe he can diversify. I expect fuel prices to rise this year. And building overall (both commercial & residential) to be in a slump. Not an optimal time for a drywall trucking company.

How is he financing the new truck/trailers? From existing cash reserves or credit? If so, how are these loans secured?

As a wife, I think scripture teach mutual submission. Both of you will live with the consequences of your (collective) choices. After 20+ years of marriage, unless my husband & are on the same page, we don't proceed with a course of action. No, we don't micromanage each other. Afterall, by now we trust each other. But we do reach a consensus about big decisions.

For part of my marriage, my husband ran his own business. So I know where you are coming from. If it were me, here is what I would do.

First, research the market (housing & trucking.) Guys respond better to hard data. Second, plan a good time to discuss this. Recognize that a guy's ego is closely tied up in their businesses. More than gals. So criticism of a business plan is (in their minds) criticism of themselves. Remember these words-I love you, I trust you, I respect you, I want this to workout for us. You will be using them alot. Okay, send the kids off for the day. And make love to your husband in the morning. No, this isn't manipulative. Women tie their husbands to the "softer" side of life-kids, home, a sense of belonging. So it will help bolster him for the challenging discussion ahead. And make it easier for him to think thru the issues-without reacting to the threat to his ego. Then talk about the business plan & the risks. Any time he stresses out-remember the above statements. He will need them.

Just my 2 cents from someone who has been there.

[Sweetlybroken]

Farmerboy, :hat At the present the business is fine and we still have plenty of work. I just want to be prepared for uncertain times and wanted to get a pulse on here as to how others are seeing this begin to play out.
We didn't buy the new truck yet. I think that idea is on hold for now.
Great idea about our customer base!