New Business?
Jun 7, 2015 | 09:21 PM
#1
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New Business?
I am looking for ideas for my next business investment. I know the obvious answer is a High performance shop. In my area there isn't a big enough market. I am considering a restaurant or bar. I have connections with current owners of both that I could learn a good portion of what I need from them if I went with either. The issue is getting liquor license and my local market is very tough on a new restaurants.
What ideas do you guys have if you were to open a business? Franchise options are probably out because of the huge fees and liquid assets required to get them off and running.
Thanks for the ideas.
What ideas do you guys have if you were to open a business? Franchise options are probably out because of the huge fees and liquid assets required to get them off and running.
Thanks for the ideas.
Jun 9, 2015 | 01:24 AM
#4
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It all depends on what I persue. I have $15,000+ also potential partners and investors that could make the budget huge. I don't particularly want to go huge as that typically means big risk, and big headaches.
If I do anything I want it to be fun. I have a fleet of trucks and the safe bet is to keep growing the fleet. I don't care to run the risk of them becoming a headache because there are only so many good drivers.
If I do anything I want it to be fun. I have a fleet of trucks and the safe bet is to keep growing the fleet. I don't care to run the risk of them becoming a headache because there are only so many good drivers.
Last edited by 6litrelover; Jun 9, 2015 at 01:30 AM.
Jun 9, 2015 | 08:15 AM
#5
Idk where you live, but many good no headache franchises do exist. Companies like zerorez and Chem dry might be good options. I would stay out of the restaurant business entirely. Check cashing businesses are very profitable, but require good security. I have a customer who had a restaurant, mobile phone accessory store, dry cleaner, gas station, and closed them when his check cashing business was so profitable the rest wasn't worth his time.
Jun 9, 2015 | 10:28 PM
#7
Restaurants and bars are money pits and will suck you dry both financially and mentally. Owned two over the years and if you're married or have kids go ahead and say goodbye to them. Bars are open from 11 am until 2 am or later depending on the local laws 365 days a year... You have to live there to keep it alive and after all of that the taxes you owe are double the net take home. If you want real numbers pm me, I spent 12 years in bars and restaurants in all facets. Only reason I'm still married is because I sold out.
Best type of business to buy into right now is anything hot for consolidation. Buy something that has a market in the area but a weak owner, polish it up and get it making money then sell it off for a profit and have cash for another flip.
Best type of business to buy into right now is anything hot for consolidation. Buy something that has a market in the area but a weak owner, polish it up and get it making money then sell it off for a profit and have cash for another flip.
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Jun 10, 2015 | 07:19 AM
#8
Jun 11, 2015 | 03:20 AM
#9
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I have a bunch of guys who throw Dance parties once a month during the school year. This is a good idea but I need to make my own twist. They are all hip hop/urban parties. I am from a smaller town less then 30 minutes from where I live and could throw county hick parties. They have many of the venders and all needed for the party I just need to make a twist and hit a different demographic so I am not competing with them.
Jun 11, 2015 | 09:22 AM
#10
Don't limit your self to one type of event. Do weddings, Surprise birthdays, kids parties, small stages, Bachelor /Bachelor'ette ect.. If you can get people together for any reason. use it to your advantage. heck throw a party to get the name of your company out there, just invite who ever. Find a school who will let you set up a commencement or tents for there small events such as, principle appreciation, or teacher appreciation. Do the first for free and go out of your way to please them in way you have to. Then they will use you and it will snow ball from there. also, slowly build up your innovatory so you become your own suppler. Been there done that...
