Double down on one business or grow two smaller businesses in the same space?
Ive been in the automotive space since i left school at 16, I'm now 29 and have been self employed for the last 8 years. The last year has been tough on me both mentally and financially trying to grow from being a one man operation to nearly and team of 5 or 6 back down to just me and one other as of recent.
I started as a HGV mechanic but after a few injuries and near misses i decided to venture into auto electrical installations such as dash camera's trackers etc...
So far this has proven to be less profitable than the repairs and have thought about going back to automotive repair alongside the installations.
However i just don't whether that will work in the long term, as not only am i trying to grow the installation side i will also be trying to grow the repair side? Essentially growing two small businesses from nothing. Or should i just focus on one?