Life isn't easy when you're one of the youngest on the block.
For some East Lansing business owners, it's a daunting challenge to raise capital and endure the hard times of a fledgling business.
Just ask Scott Reschke.
Three years ago, then-27-year-old Reschke jumped into the business world when he opened Fast Repair and Game Center, 543 E. Grand River Ave., a computer repair shop and a hot spot for video gamers.
"For the first six months, it was a nightmare," Reschke said, who took on five credit cards to pay for half of the nearly $200,000 startup cost.
It's a unique prospect for young entrepreneurs: Lucrative business opportunities exist, but startup costs in the $100,000-range coupled with the difficulty of procuring bank loans make the road less traveled.
Despite the rough beginning, Reschke's business has survived for three years, and he is thinking of expanding to other cities.
Reschke admits being in his 20s was a "handicap" because he felt inexperienced when he was thrown into the daily grind of running his own business — from buying advertisements to keeping records.
"You lack the experience to do what you think you know how to do," he said.
He remembered one month when he had to choose between paying the electric bill or his employees.
"Everyone seems to have this misconception that a business owner has it easy," said Reschke, who is now 30 years old.
During the center's first year, a friend ran into Reschke at the Meridian Mall and was stunned by what he saw.
Working 20 hours every day for weeks at a time left Reschke pale, unshaven and seemingly half-starved.
"You look like the walking dead," his friend told Reschke.
Owning a business and doing all the work that comes with it — paying bills and taxes, keeping records and conducting other housekeeping duties — becomes a huge time commitment, easily surpassing a standard 40-hour week.
Many young people don't realize all that being a business owner entails, said Jim van Ravensway, East Lansing's planning and community development director.
"It's more than just an idea or a product," van Ravensway said.
Another hurdle is financing.
In a business's early months of operation, when customers are scarce, an owner needs reserve money to survive, van Ravensway said."You have to have backup money," he said.
Banks often don't approve loans for small businesses, which young people are likely to start up, because they aren't well-established, van Ravensway said, making it difficult.
Because Reschke couldn't get a bank loan, he used his own capital to finance half of the $200,000 and received the rest from family members.
Others turn completely to their families for financial backing.
"That's typically where most young entrepreneurs get their money from," van Ravensway said.
Last year, Mike Bostic, co-owner of Big Ten Burrito, 403 E. Grand River Ave., opened the store with his son, Luke.
Bostic shielded business costs away from his 23-year-old son, which includes a $6,000 monthly bill for rent, gas and electric. Food costs usually run between $5,000 and $10,000 each week.
Not having enough money is a major deterrent for 20-somethings thinking about opening their own storefronts.
"Money is a big thing that stops folks," Bostic said. "A college kid doesn't have a lot of assets."
