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

[scottyb]

I know how you can bank a million in the restaurant business.










...



Start with 2 million.

 

[turbot2496]

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....

Lovely I think the escort service would be more ethical

 

[Reaper]

Vic,


an other idea for you mobile stripclub

Think about it..

*the link is work safe, it is a link to fox sports*

 

[tommynos]

Vic,


an other idea for you mobile stripclub

Think about it..

*the link is work safe, it is a link to fox sports*

they did very well too with that idea.....i missed the game and just like the bucs,i never scored :biggrin:

 

[DKREDT]

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...

The chance that one succeeds as a franchisee of Subway is probably 100 to 1000 times greater than opening a sandwich shop from scratch. Keep in mind you are "buying" the recognition of a brand that has been around for years with known systems to efficiently run the business. Eateries have the highest failure rates of startups. It is really simple. You can either buy a money making machine, or take your chances (with time and money) to try and invent it.

 

[AZ Vic]

Man, you guys are a riot! :tongue:


Please, lets get back on track now :biggrin:

I have about 100k to invest. I do not have the credit to go and get the kind of loan I would need to start the mini storage or secure the properties to lease out - although this is a GREAT idea... I have pondered it before and checked into it. It takes quite a bit to start.

I think I am on the right track with what I am doing. It is something I want to do or LIKE doing rather... and we seem to do well at it. I have a few avenues I am leaving open so that I am not putting all of my eggs in one basket so to speak...


I really do appreciate all of the input guys. If you can think of anything that might help me out, please don't be afraid to let me know here or PM it or something.


THANKS!

Vic

 

[turbot2496]

Yeah DKREDT, thats what their brochure says... but lets think about it....whats that franchise cost.... 100 grand or so minimum.... hmm and you have to buy all product from subway and make what they tell you to make...That 100 grand(if its that little) would go along way to opening your own shop and if your an intellegent business person your going to be ahead right out of the gate...as far as name recognition goes... I have seen several new independant stores start up and the most important thing is the first weeks of business... these places are packed the first weeks because many people want to try something new...The KEY is to open your own place with the goal of being BETTER than subway or whatever your competition is.

I do have some inside knowledge of this as I have worked for the food supply industry and know several mom and pop restraunts that make good cash hand over fist and several who have franchised into over 15 locations.

Its all about hard work and being smart...but who the hell wants to work hard??? :biggrin:

 

[AZ Vic]

Well, as far as subway's and franchises go... How often do you actually see the owners at the restaurant working? Not very often.

Now, the mom and pops... they are in there every day slavin' away.

I have nothing against working for a living but I would rather be focusing on running the business over working the business...

There is definitely something to be said for starting your own thing and building it up into something. But this is generally a formula for failure. I read on one of the entrepreneur sites that less then 10% (IIRC) of small businesses survive their first year. Most of that is due to funding issues.

Just about a year ago, I read an article in our little local area paper about the lady that owns the subway (of all things) right close to where I live. It is her 3rd subway store and she started with her first one two years before that. She exclaimed..."I am living the American dream!" She now owns a circle K as well...

 

[turbot2496]

The reason you don't see alot of owners is there are alot of rich guys that buy up these suckers and don't see alot of profit off each individual store. There take off each store is pretty small and there are the tax writeoffs. These guys are already rich when they start out. They will buy 50 of these places at a time and then have an area supervisor run them. The poor guys that buy a franchise and start from scratch are in there busting their buts just like the mom and pops. One individual that owns a sub shop(not subway but a franchise) I know gets there at 3 in the morning to start making the bread and doesn't leave the place till around 6pm. His wife closes the place and they have few employees. Ughhhh!!!

There is definitely something to be said for starting your own thing and building it up into something. But this is generally a formula for failure. I read on one of the entrepreneur sites that less then 10% (IIRC) of small businesses survive their first year. Most of that is due to funding issues.

Thats because most people believe that starting their own business will be fun and easy.... NO ONE WILL EVER WORK YOU HARDER THAN YOU'LL WORK YOURSELF... They get into these things and then don't put out what it takes. The people I know that have succeeded worked very hard....

Example... I had one friend who opened a steak house. He hired a manager to run it for him and he was never there. He had a really good cook and the place did awesome business for the first 2 weeks then..... well it went downhill because the manager was a drunk and the place was a wreck. One time I walked in and the mangager wasn't even there. Her 16 year old daughter was running the place... needless to say he went under in about 3 months. By the time he fired her... word was out the place sucked and it was over...Anybody could have told this joker what was going to happen but he was oblivious till the end.

 

[Mike Licht]

Since your used to running cable how about computer networking. I have a friend that does this and high end home theater/automation systems (just the cableing) and he does VERY well
Mike

 

[rtviper]

You would be surprised what you can buy with minimal money down if you put together a good business plan for the banks. You can also find owners who want to retire and will take 100k down and carry the contract themselves for income. I purchased several of my businesses over the years with little down by showing the banks the income from the business and or property will service the debt. Then as the business or property rise in value you can turn a good profit and or buy more. Thats what many people who work hard all their lives say" I cant afford to buy that " You can afford more then you think if you do your homework. Four of my businesses were Franchises and they all succeded because of the Brand recognition and successful system in place. The banks also want to hear the chain is successful if they are getting involved. Remember you will never have to work a 40 hour week again when you own your own business. But you will have to work at least 60

 

[GNSCOTT]

Why not just keep on doing the Ebay thing. You have no rent, no employees, and 1/4th the headaches. Work out of your home, sleep in, go to auctions at night, the thrill of getting a great deal. Here is my business I started with maybe $2000. I sink all of my profits back in it but it started out as nothing.

www.usedhitchcockfurniture.com

 

[broke1]

Lovely I think the escort service would be more ethical

Id sell drugs to children if it were legal and made me rich.Arcades ARE legal and they will make you RICH.

Any long term buisness that will return your initial investment within 2 weeks CANNOT BE BEAT,period.

 

[1ARUNEM]

Drew, you're not fooling anyone, you already sell drugs to kids..

 

[Renthorin]

I am doing that right now

My wife and I are starting a biz (she will run it while I keep my job). We are taking out a 100k loan so we don't have to pull that money from savings. She has been working with a financial advisor and it looks like the biz starts making money in month 3 so that is a good deal.

It is something she has wanted to do for a long time now but she is very scared about the money and the "big responsibilities".

I told her do it and see how it goes. If it works out I can quit and be a bum. If it doesn't, I can support us. Most of the loan is for equipment that could be resold for minimal loss so not really such a big deal.

A bonus is I will have an 18,000 square foot building to run my RC truck in for a while until the floor is finished

 

[cwmccray]

Id sell drugs to children if it were legal and made me rich.Arcades ARE legal and they will make you RICH.

Any long term buisness that will return your initial investment within 2 weeks CANNOT BE BEAT,period.

Hey Drew
I am working on those arcade machines My friend "leases" out his 70+ arcade machines to the local 777 arcades. If you remember when the "Nationals" used to be HOT on 35th street North, my friend has suppled all the machines on the North side and now is expanding to the "Westside". The arcade machines are basically a pentium processed board, some with harddrives. The biggest problem I have is replacing the video cards.....You know how people get happy winning and spill ther drinks on the machines. I replace 2 to 3 boards a week at $75.00 a hour (ten minute job ).

Still have not got with Brian Prince to get my tranny done. I am converting to intercooled....

Chuck

 

[turbo buicks]

the wisest thing to do with ur money is to watch late nite infomercials and get the one that sounds the best. you'll be rollin in the dough in no time buying houses for $50.

 

[AZ Vic]

the wisest thing to do with ur money is to watch late nite infomercials and get the one that sounds the best. you'll be rollin in the dough in no time buying houses for $50.

LMAO...


Any of you guys ever seen the ones with Don Lapree? I am knew him a LONG time ago... his story is legit! He did exactly what he said because I remember him talking about it. He didn't get that rich doing it but he started making a hell of a living with it... nowadays he seems to have his fists in everything. I read where he went bankrupt and then has started up again.

I think I will stick to the basics, thank you very much LOL


Vic

 

[turbo buicks]

really tho, you could buy land and hold it. an old guy around here did that and now theres malls, shopping center, etc all over the place which he sold his land to. he's super rich but still lives in a small house on the side of the road and picks up trash. my dad knew him.

 

[fighterjet gn]

get a flatbed truck for a towing service(and wait on the ricers to break down at the track) / a truck to transport cars across the states / a truck to drop off carpet or tile to a house / graffiti removal & sandblast driveways / a mobile detailing service / a limo service / or home upgrading service.