Inspired by https://tildes.net/~life/1q0v/what_is_a_business_org_thats_so_terrible_no_one_should_use_if_possible

If you're finding it hard to come up with something, remember that medium, small, and local businesses do exist ;)

Also, good deeds are not enough; their product must be awesome too!

If at all possible, let's keep this positive!

I went to a friend's print shop today. We've been friends for a while now, business associates even longer, and it's a small mom-and-pop print shop with two presses that I go to for all my small to mid-format printing needs. I'm a graphic designer, and sometimes I need a brochure, business cards or some smaller posters done. The business is well regarded, is cashflow-positive and has a strong local presence within my city.

However, said friend - the owner and sole employee - is getting tired of the work. They want to retire, in around two or three years, and that would mean closing down the shop. They're running it as the third owner now, and previous owners have been running it since 1970. So, I joked about maybe taking it over one day - and my friend was immediately interested. They said that that would take a load off their mind, and that it would be nice to have someone like me continue the legacy of this established store.

And, well, I gotta be honest with you, I really want to do it. The work is something I've done before (digital print, prepress, cut and finish printed products, printer maintenance and first and foremost graphic design), and my actual education was in graphic design. I'd be able to do both the craft of print production and offer more services like brand and web design to my prospective clients (which would be a value add to existing and new customers).

The thing is, I've never run a business. I'm not a business person, and I don't know the first thing about it. I know about how to deal with customers, how to budget my time and money, and how to work in an organised and precise manner, but I've never been a manager or a boss.

So, I guess, this is my question to the Tildesian hive mind: Is it doable? Is owning a business really that difficult if you know how to do the actual day-to-day operations well? Should I leave the safety of wage labour and try to make something of my own? Has any of you taken over a business or founded one, and if so, what are things I should know?

PS: I'm 25 years old and am from Central Europe.

BMO Bank of Montreal. Im speechless over how incompetent they are. (Canada)

Nestle. Because they're evil.

Others?

Edit:

See also the positive inverse of this post: What is a business/org that is great and ethical in so many aspects that everyone should consider using?