Bankrupt boomer parents ask adult sons to put their names on legal documents so they can open an IT firm: 'They don't understand how much money need to put into their business'

Author image for Emmy Pratt
Emmy Pratt • Writer and Editor
Jan 31, 2026 11:00 AM EST

What are they thinking?

We all know that guy who wants to start a small business for all the wrong reasons. He claims he's not suited to a 9-5 life, but it's abundantly clear he simply doesn't like working, and thinks running his own business would be easier than holding down a regular job. If you're running a small business, you're working a lot more hours than you would've worked if you had a typical office job, and if you're not putting in that time, it's unlikely that your business is going to thrive. About 20% of small businesses fail in their first year, and about 50% close after five years. 

It's not always enough to work hard and hope that your business idea will thrive. You also have to choose the right kind of business to go into. Some small businesses will always have demand. If you have a lawn care business in an area with many aging residents and many front yards, there's a good chance there will be demand for your services. But if you want to open a swimming school for kids in an area with more single people than parents, you might have trouble finding your clientele. If you don't know anything about cleaning pools, you probably shouldn't start a pool-cleaning business either. People want to hire people who know their business inside and out, and if you can't do the job, you probably can't properly hire employees to do it for you. 

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  • A senior couple sitting on a sofa and starting a business online with laptop
    via Getty Images (Unsplash+)

    Image is representative only and does not depict the actual subjects of the story.

  • The aging couple in this story doesn't know anything about IT, and yet they want to start an IT company, and they want their sons to be financially responsible for it. They can't sign up for their own loan because their last business, a supermarket, also went out of business. 

  • My boomer parents want to open business again, and it's scary

    Hello, I am (M23) right now in a state of disbelief and horror of what going on right now in my family.
    via u/Happy_Cr***_Addicted
  • My boomer mom (50) and boomer dad (73) wants to open an IT service/consulting business without any idea what to
    via u/Happy_Cr***_Addicted
  • At first, I thought it was just a weird whim of my mom to open a business, that will fade away after some time.
    via u/Happy_Cr***_Addicted
  • But now, when even my dad supports her, I am starting to feel, that they are dead serious.
    via u/Happy_Cr***_Addicted
  • I think they will try to force me and my brother to sign all the documents to open the firm.
    via u/Happy_Cr***_Addicted
  • For the context, they already had been through bankruptcy of their supermarket. I think they don't understand how much money need to put, so their business will start to work
    via u/Happy_Cr***_Addicted
  • A child outside an abandoned shop.
    via Competitive Insight

    Image is representative only and does not depict the actual subjects of the story.

  • OwlsHootTwice With all the layoffs in tech there's lots of folks looking to do consulting. If your parents weren't executives in tech before, good luck establishing credibility and landing gigs.
    via u/OwlsHootTwice
  • Happy_Crack_Addicted Original Poster's Reply What amuses me the most is the fact that my dad wants to be a CEO of a business, while all he does is renting houses. He doesn't have any idea about IT
    via u/Happy_Cr***_Addicted
  • LobsterParade And keep an eagle's eye on your brother. They might try to coerce him when he is weak.
    via u/LobsterParade
  • Happy_Crack_Addicted Original Poster's Reply I will message my brother soon. I believe he has common sense to stand up against.
    via u/Happy_Cr***_Addicted
  • ouwish Neither of them have IT experience and we're planning on hiring someone to do the IT? With what capital?????
    via u/ouwish
  • Happy_Crack_Addicted Original Poster's Reply 300$ (we are not from US, but it's still not enough, you need at least 40,000$)
    via u/Happy_Cr***_Addicted
  • No_Philosopher_1870 Don't sign anything. Don't get involved in ANY way. No free or paid labor, nothing. Let them be angry. They want YOUR money to operate a business that they will likely run into the ground. Take care of yourself first.
    via u/No_Philosopher_1870
  • Happy_Crack_Addicted Original Poster's Reply Right now, I am searching for job, as fast as possible. I am a student right now, but I think, I will dropping out, cause, firstly, my parents chose bad courses and, secondly, I need to have my own savings
    via u/Happy_Cr***_Addicted
  • Shred_Kid cool thing about college is that ur allowed to choose ur own courses
    via u/Shred_Kid
  • Happy_Crack_Addicted Original Poster's Reply The thing is, I was forced into economics, but I personaly want to got to the dentistry
    via u/Happy_Cr***_Addicted
  • Dentist looking at x-ray scans of teeth
    via Jonathan Borba

    Image is representative only and does not depict the actual subjects of the story.

  • LaughingIshikawa You keep saying "forced" like we're supposed to understand that, but you are an adult so actually they can't "force" you to do anything. I know if you have toxic / abusive parents, it can feel like they're able to "force" you to do things, but as an adult you can just... Not so that, and do something else. They can't actually stop you anymore.
    via u/LaughingIshikawa
  • Happy_Crack_Addicted Original Poster's Reply I think when you don't have any money at 18, you will not have any choise, because where will you go without money? Live on street? Right now, I got some confidence to go where I want. I applyed for several jobs.
    via u/Happy_Cr***_Addicted
  • whiskersMeowFace That's just really gross to think about really.
    via u/whiskersMeowFace
  • Happy_Crack_Addicted Original Poster's Reply My mom met him on dating site. So for everyone wondering, no, she wasn't forced
    via u/Happy_Cr***_Addicted
  • Dependent Title_1370 Do they know anything about IT?
    via u/Dependent_Title_1370
  • Happy_Crack_Addicted Original Poster's Reply They only say: "We will sell IT services". But they don't defi what that services will be
    via u/Happy_Cr***_Addicted
  • Worshaw_is_back You got to be joking
    via u/Worshaw_is_back
  • Happy_Crack_Addicted Original Poster's Reply She said to Al name a company, by using two word: Business and Analytic
    via u/Happy_Cr***_Addicted

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supermarket bankrupt legal baby boomers signature business son parents information technology
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