If you had $100,000 to start a buisness, what would you do?

[AZ Vic]

OK guys, I have been stressing over this for about six months now and the time is finally coming to put my plans into action.

My career choice (CATV construction and tech services) has gone really south (the whole industry has) over the past few years and I refuse to travel any more because of my family and the risk involved with subcontracting - it just isn't worth it anymore.

So, for the past year and a half, I have made my living doing odd work here and there and some various CATV stuff as it comes and goes here locally - about 3-4 days a month. This has started to slow as well and has never been reliable so I find myself looking down other avenues.

I am getting about 100k and I intend to start my business with it. I have done a LOT of things over my life and I am very good at putting my mind to something and making it work. I am pretty confident that I can tackle just about anything out there and do what I want with it. I have the drive and dedication to make just about anything succeed.

Never the less, I find myself standing on cold feet as I am about to take this plunge. I am planning on investing the bulk of this money on a new shop on my 2 acres here and using half for my shop and the other half for a buy and resell type of business. My wife and I started to do this last year and were VERY successful at it but we were not properly equipped to handle it full time. After about 4 months we were running ragged working over ourselves because of the volume we were doing (and making great money, I might ad)

Well, I now have the means to make it happen, and put everything in place to really make things flow and turn it into a living. It is something we really like to do and we "make our own fortune" so to speak... My worry is, that I honestly have not had enough experience in it to really be confident that things will come through. It is almost a gamble in a sense, because you really are not for certain what you will get until you have already bought it (lien auctions, estate auctions and such) But, I seem to do pretty well in judging stuff and learned real quick what was worth it and what wasn't.


So, I figured I would ask some of you guys here and see if I could get a little advice about other avenues before I take the plunge.


Please, let me know here. I have read so many stories where people have started with small business loans of 50k or less and turned it into a thriving business in a few years.


Thank you in advance for your help,


Vic

 

[microELVIS]

Seems to me that you have a path to follow. You have the money, the support of your wife, the plans, property, experience to begin. All you have to do now is make the decision. That is the one thing you have to do, to set it all in motion. Seems like the right thing from here, life is telling you what to do.

If you are worried about not knowing what you are getting when doing business, well I can say that you will probably get some stinkers along with the good stuff. But that is all part of it, and you learn that way. You just work through it, and it will all work out. Don't ask how, it just does. (my belief)

Here is a link that might give you some insight and encouragment. Hope it helps, and hopefully I dont sound too dorky.

http://www.robinsharma.com/ic_blog.php?sec=2

 

[turbopete]

Two ideas

How about a Subway franchise? I believe the buy-in is a bit hefty, but they have the brand name. Find a good location near a population center/college and it should run by itself.
For another, the post office/shipping franchises are all over the place. The new "Goin Postal" (forgive the bad choice of name) has alot of business. They do the same as the UPS Store.

 

[TR Custom Parts]

My wife and I started to do this last year and were VERY successful at it but we were not properly equipped to handle it full time. After about 4 months we were running ragged working over ourselves because of the volume we were doing (and making great money, I might ad)

Vic

Sounds like you answered your own question! Wish I had an easy decision like this to make. Go for it!

 

[Reaper]

Vic, Start an escort service!



my damn computer is broke so i have not caught you on aim in a while!


WE'll talk more.


Did you get that truck?

 

[Pablo]

I would (and want to) start a business that converts factory turbo and supercharged cars to flexible fuel vehicles with specific tuning to extract the most hp from e85 fuel. I would consider selling the fuel on the side aswell.

I envision starting off with the wrx or sti, something along those lines. Once enthusiasts start to demand E85 fuel because of the performance benefits for turbo/supercharged cars I think we will really start to see it take off and I think I will be in a position to expand the business to include fleet vehicles and e85 solutions in general.

The business would most likely have to be based in the midwest, where most of the stations are located.

There are alot of misconceptions about this fuel because of ignorance, all it takes is a slightly daring (gearheads) segment of the population to start demanding it and seeing its benefits to have it start to spread.

I still have some schooling to do and research to make this happen

If you steal my idea I will come and kill you

 

[Little6pack]

I would have to agree with Mark. Since you already have done a good job at the buy & resell why not stick with what works.

Another idea would be to start a food buisness/ food distributor. People will always EAT! Bring something exotic to your Arizona area that is not sold currently in the area.

Just an example
I have a friend who imports pastries & other goodies from Italy. He sells them to delis, resturants, niche grocery stores all over New England. He works a lot with lots of driving but the rewards show in his home & kid in colledge. He has also built a warehouse on his property to hold all the stuff.

 

[broke1]

You wanna make some real money and earn your initial investment back in the 1st few weeks???Get into the arcade gaming.BIG,BIG $$$$$$$$....

 

[SETURBO]

Whatever you end up doing you will need a website.....
I have taken seturbo.com from page 67 to page #1 and this is all without paying that whole pay-per-click stuff. I would love to help you out when you decide what you want to do. If you decide to buy and resell things i can set up a oscommerce site for you and also build an online ebay store. I can build your website HTML and make it so the search engines love it,
Just let me know jenkins_atl@yahoo.com

Travis-

 

[AZ Vic]

Thanks guys! Keep em coming!


microElvis- Thank you... wierd link, but I see where you were going with it.

turbopete- You know, that is a heck of an idea! but, close to me there are already 3 subways... On top of that, I think it would take more money then I have to invest to start a food service type of business. The thing is, I have my mother and father in law that are both very experienced managers/cooks/servers - they have all sorts of certifications and I know they would be on board if I decided to start something. It would take so much to start it up right by the time I got my licenses, workmans comp, insurance, lease a building, renovate it, stock the shelves, etc. etc. Now, the postal idea is something. My wife used to run the whole shipping/receiving department for the Phoenix art museum, and we really work well together packing up packages for eBay LOL... we have done over 100 at a time before... I will look into that a little more...

Boosted - Thanks!

Reaper - Hey guy long time no hear! Sorry to hear about the computer... escort service LMAO... hey... well... nah...
Yeah, I got the truck! 2002 2500HD duramax CC/SB 4x4. I LOVE THIS TRUCK!

Pablo - "If you steal my idea I will come and kill you" LMFAO! Sounds like you have a good thing rolling there. Good luck with it!

6Pack- You know, that sounds interesting. I wish I knew more about that kind of stuff, but again it resorts back to needing more then I have available to start it out right. Except that importing stuff... I am putting that down, but I am afraid that it would take too long to build up into something I can make a living at. I definitely need something I can start seeing a return on fairly quickly - at least within a month or so.

broke1 - tell me more! Are you talking developing games/software or setting up a retail arcade or starting a place like EBgames? I do not know anything about gaming other then they are making serious $$$ with the new consoles and games - hollywood style money!

SEturbo - Cool. I will definitely drop you a line... we allready have an eBay store but it has been neglected and we are just starting to get it around. We are STILL selling stuff that we bought from LAST year LOL. Admitedly, a LOT of this stuff will just be tossed in with the garage sale stuff and then probably donated, but it has supported itself with the few sales a week and we have been able to keep it open... BTW... your link to your ebay store draws up a blank....??


Thanks again guys!

PLEASE, keep them coming!


Vic

 

[SinistrV6]

The only thing better than good income is good PASSIVE income! My suggestion...Mini Storage (or whatever they're called in your part of the country). It's like a license to steal. An aquaintance owns a 256 unit place, none of which is climate-controlled and rakes in $11,000/mo gross. Overhead is minimal, an on-site manager takes care of the customers and is paid minimally since he has a free residence. Of course, you have to pay for the buildings, land and utilities but there's plenty of that 11k left over when all that's paid. When the buildings and land are paid for it REALLY gets sweet...

I own a few rental houses (again, passive income) but I really want to buy one of these storage businesses.

 

[TT/Ameasap]

Vic, just wanted to let you know I am in the same boat as you are. I have 4 acres I just bought with a nice home and made some cash on the side reselling. I have a full time job as a machinist (union) , but long to own my own business for years....Now, I know that whatever you do, you will HAVE to love doing it. My mother owns a hair salon.Brothers in real estate.My uncle owns a body shop and my other uncle ownes a plumbing business.All successful. To the piont where they dont have to work anymore and enjoy life!

Passion,dedication, and determination seem to be some of the "key" factors in success.

Sorry, I wish I had more to add :smile:

 

[turbot2496]

How about a Subway franchise? I believe the buy-in is a bit hefty, but they have the brand name. Find a good location near a population center/college and it should run by itself.

I have never understood the logic of buying into a franchise.... If your going to open a sub shop then why not open your own shop with your own name with the goal of being better than Subway. That way if your successful and your business grows and you add locations you can sell your own franchise rights someday You can save so much cash without messing with a franchise... and have a brighter future to boot...

as far as somewhat passive incomes... car washes are another good one... got a friend I grew up with thats making a mint with the things

 

[rtviper]

The best recomendation so far was the storage units. There is money to be made in that industry and right from the start. The food industry is very risky and anytime you rely on employees you are asking for problems. Employees will steal you blind if your business deals with products an employee can eat, spend, or give to friends. Many of the businesses mentioned like subway, shipping etc are just buying yourself a job. I have had Fast Food. Auto Parts. Auto Repair.Convenience Stores and every one of them the employees stole more then I made each year. Your best bet is to invest in a commercial property that has tenants that will pay the monthly mortgage plus some positive cash flow. There are several sites on the internet that list commercial properties. This is my current business and its great to be the Landlord and not an employer/victim.

 

[Mac in SD]

Did you see the pix of rtviper's cars and garage? I'd do exactly what he recommends...whatever it is.

 

[Hacksaw]

This is a little off the beaten path (in more ways than one), but...

When my Mother's Taurus's transmission bombed out on a trip I found out there is NO Transmission shops anywhere in east or central Nevada (at least a couple of years ago). Yes, Elko is not huge, but the nearest shops are Reno, Las Vegas, and Salt Lake City(the closest, 200 miles!). Expensive towing fees to the nearest shop; All many miles away. There are some Auto Dealers in Elko & Ely, but they may not service your make, and it could get expen$ive.

The down side is I don't know how to run a Transmission business, plus you need to get good help. If you or your help get sick of the locality, you have a problem. And I don't know if there will be enough business. and it won't be cheap to get started.

But, it may be worth looking into.

 

[GNandGS]

Whatever you end up doing you will need a website.....
I have taken seturbo.com from page 67 to page #1 and this is all without paying that whole pay-per-click stuff. I would love to help you out when you decide what you want to do. If you decide to buy and resell things i can set up a oscommerce site for you and also build an online ebay store. I can build your website HTML and make it so the search engines love it,
Just let me know jenkins_atl@yahoo.com

Travis-

lol, but yer ebay link doesnt work.

 

[broke1]

Arcade gaming is simple,you rent or purchase what are basically touch screen slots and open up in an inner city area(or the sticks).You sell each patron a "phone" card that can be used for play on your machines AND to make ld phone calls.

I wont get into the legalities of it here but you might face some resistance from local law enforcement(my city is right now)

You wouldnt beleive how much these people spend and like I said,you will earn that initial investment back QUICK.

Downsides are legality,not operating from the best loacation,and dealing with potentially dangerous customers.

If you can find someone you trust to run it would be the best thing....

 

[QTRMILER]

Best business to get into with minimal out of pocket investment is a painting and powerwashing business. Arizona is growing rapidly I understand and all you really need for a top of the line, modern business is a trailer, good hot and cold water pressure washer, paint sprayer, rollers, brushes and ladder. A good chemical supply complany with knowledge of the industry is also a plus. In a growing area, new contruction painting and cleaning before sale of properties can net you a small fortune. Low overhead, machines operated and maintained properly will give thousands of hours of use and the buy in is relatively speaking small. If you want more details, pm me, willing to share....

 

[SETURBO]

ok, ok i fixed the link

The first page is currently under construction, but check out everything else!

Travis-