QUICK BACKGROUND - A buddy and I plan on opening up a small strength facility within the next 2 years. Combined, we have saved up enough cash (nearly 15,000) to outright purchase all the basics (flooring, racks, weights, DBs 5-150, platforms, yolk bars, barbells, hex bars, thick bars) and plan on building our own plyo boxes, already have kegs, and will be making our own Atlas Stones and Farmer Walk handles.
In my personal finances, I have been aggresively paying off student loans and car payments, and will be completely out of debt within 10 months (other than mortgage payments). This is so I don't have to stress over paying personal bills with the inevitable drop in wages from quitting my job to pursue owning a gym and with the costs of start up. The only reason we are estimating 2 years till we open is to make sure we both have all of our debts paid off, and have enough in savings to cover all of our personal expenses outside the business for 1 year in the event of very limited profit in our initial startup.
MY QUESTION FOR THOSE WHO HAVE BEEN THERE DONE THAT
After 8 years into our 10 year plan of getting this place up and running, I am scared to death of the economy, and quitting my job to start a business right now. With the economy the way it is, should I hold off until everything has completely bottomed out and it has started to recover? Also, any advices along the lines of "I wish I knew then what I know now," would be GREATLY appreciated.