Helping Parent's Company from Abroad: Where to Start

[Yanezez]

Hello community,

First, thank you all in advance for your disposition and time. I am new to the community but have already a great impression. I am currently reading the recommended material but hoping this post can receive some complementary tips.

In summary, I want to ‘take over’ control of my dad’s minor construction and painting company which he has in Chile. I currently live in France so this is the first impediment, but I can somewhat support financially.

My father’s company is oriented towards minor construction (inside remodeling and painting). We can also sometimes make profit selling kitchen remodeling services which we externalize. He operates mainly in Santiago, which is a big city. As of now he has a contract but will finish soon. Usually, he waits 1 week or 2 between contracts. Nonetheless, I have identified the following issues:

Low liquidity: My dad constantly runs out of funds and I’m constantly funding him to finish projects. This has been going on for a while.

Projects taking longer than expected: this is the cliché of a construction company and this issue obviously stretches his already low budget.

Low brand recognition: I took a course on-site building and managed to make him a site and place him on Google search. However, no one recognizes the brand and they just call him personally.

Lack of data: He is currently not saving any (or very little) contact information in order to promote the business.

Strengths: by far the biggest strength is the quality. We have received good feedback from clients due to the quality.

A little bit of my background: I currently work for an investment company, MBA holder, and have a bit of experience managing some projects (selling small quantities of items here and there). I don’t have a high income but it's constant, working at a close to Fortune 500 company. I mention this not to brag but just to mention that I can a) help with a few constant funds in the beginning and b) provide my time.

For now, my biggest hurdle is where to start. Should I focus on marketing, bite the bullet and invest a bit in ads? Should I wait for ads and focus on branding? Should I ditch that and find a more specific niche to compete in? another thing?

ANY advice on where to start would be appreciated,

At the end I want my dad who is close to 60 to do better than he is currently doing to better prepare for when he is older.

Thank you all very much in advance

 

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[Practic]

Jimmu dunnapovz,

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Vjepl zua emm wisz nadj op efwepdi

Tuni tahhitvoupt.

1. Onqsuwi dassipv qsudittit (dupvedv motv, ivd)
2. Ati zua dassipv dmoipvt vu sigis zua pix dmoipvt cz onqminipvoph e sigissem us opduni tjesoph qsuhsen.