Small Business - What would you Start?

[Turd Ferguson]

A friend of mine is well on his way to starting a property management business and things seem to be going well for him, already has some contracts lined up for this winter and the following summer...Which leads me to my question...

If you were to start a small business what would you do and why?.

And for those who already have, how did you make your choice?

 

[Blk88GT]

Landscaping/minor concrete work.

It's a license to print money around here. Same with roofing.

 

[POLZIN]

drug dealer on welfare !Its the new american way !

 

[Bubba700]

Depends on where you want to live. If it was me I would prob do a security dealership. Flexible hours pay is as much as you want to put the time into it and lets be honest crime and home breakins in this day and age are only going to get worse. Have some friends that have done this and they make some great money on their own.

 

[mattymac]

drug dealer on welfare !Its the new american way !

yeah pay is great too!


Way more than the working middle class american!

 

[Turd Ferguson]

yeah pay is great too!


Way more than the working middle class american!

The sad part is your 100% right

 

[Turd Ferguson]

Depends on where you want to live. If it was me I would prob do a security dealership. Flexible hours pay is as much as you want to put the time into it and lets be honest crime and home breakins in this day and age are only going to get worse. Have some friends that have done this and they make some great money on their own.

What do you mean by securtiy dealership?, whats that?

 

[John]

I assume he is talking about home security, think ADT.

If I was ever to go back out on my own it would be somthing that required as few employees as possible. You will find that is the worst part of being in business. Good luck!

 

[Burndown1]

I opened a whore house, my brother ran it by hand until the girls showed up.

 

[Bubba700]

What do you mean by securtiy dealership?, whats that?

Yea, ADT, Monotronics, there are several others that have dealer prog. They pay the dealer about 1300$ per 3 year contract. So by the time you pay the tech (100$) 300 to 400$ in Equip you make 700 to 800$ persale. If you have a few other people selling for you , Pay them 4 to 500$ persale and you still make atleast 200$ on the account.

 

[redlineguy]

I would open a Auto dealership that only sells Big SUV's and Trucks... Instead I own a Tool&Die shop because I like long Hr's








.

 

[johnny be bad]

mobile preasure washing!!! good money and you set your hours!

 

[modsledr]

To answer this question, you need to answer 3 questions first:

1. Where do you live, or want to live? This is important because it will help determine what the business will be. For example, if you happen to live in an area with low crime rates (yes, they do exist) or rural, then a security business would be a tough sell (not knocking the business, just an example).

2. How much start up capital do you have, or have access to? Some businesses require more than others. But the reward is usually greater. The cost of entry to the pressure washing business is probably pretty low, but it will take a long time to build up enough of a clientell for the amount of repeat business and referral business to make any real money.

3. MOST IMPORTANT...what do you love to do...what are you passionate about? If you can answer this question and translate it into a business, you'll never work another day in your life!!

good luck.

 

[hilinerider]

i work in the oilfield cause i LOVE to smash my fingers for a living



yes startup capital is a must and don't get your capital tied up in to many projects at once, been there done that

 

[alrevedup]

mobile preasure washing!!! good money and you set your hours!

johnny, you have to think big!!!!

 

[alrevedup]

To answer this question, you need to answer 3 questions first:

1. Where do you live, or want to live? This is important because it will help determine what the business will be. For example, if you happen to live in an area with low crime rates (yes, they do exist) or rural, then a security business would be a tough sell (not knocking the business, just an example).

2. How much start up capital do you have, or have access to? Some businesses require more than others. But the reward is usually greater. The cost of entry to the pressure washing business is probably pretty low, but it will take a long time to build up enough of a clientell for the amount of repeat business and referral business to make any real money.

3. MOST IMPORTANT...do what you love to do...what are you passionate about? If you can answer this question and translate it into a business, you'll never work another day in your life!!
good luck.

Well said!!!

 

[03rmking]

Someone explain startup capital for me. Capital on what level? Just basic 5 figure loans? Or if bigger, how...

a) Does the average Joe qualify for a 6+ figure investment?
b) Where is the capital coming from?
c) What are the terms of the investment
d) How do you obtain a decent amount without giving away a huge chunk of your biz?
e) Who in their right mind would invest in an unproven startup?

If you all mean capital as in small bank loans and biz credit cards I get that. Anything bigger, enlighten me

 

[westsummitx]

I would start a glass shop. The works not bad and there is always a demand. I just need to grow a pair and do it.

 

[modsledr]

Someone explain startup capital for me. Capital on what level? Just basic 5 figure loans? Or if bigger, how...

a) Does the average Joe qualify for a 6+ figure investment?
b) Where is the capital coming from?
c) What are the terms of the investment
d) How do you obtain a decent amount without giving away a huge chunk of your biz?
e) Who in their right mind would invest in an unproven startup?

If you all mean capital as in small bank loans and biz credit cards I get that. Anything bigger, enlighten me

There are no hard and fast answers to your questions. Most start ups begin with the person starting the business puting a significant amount of their own time and money into getting the business going, borrowing from friends and family, etc. Then, once the concept shows promise, approaching investors to invest. Usuallly, investors get company stock for their investment with the hope that the company will go public. If a company issues 1 million shares of stock, and investors buy in at $1/share (for example) and invest $100,000, then you aren't really giving away the company.

Microsoft, Dell, Amazon, Google, Yahoo...all of these companies recieved significant amounts of outside investment...some even invested in the others (Amazon was an early investor in Google, for example). I would say the company founders made out ok. I know these are multi billion dollar companies, but they didn't start that way.

The fallacy is that you are giving away your company...as a business owner, as soon as you accept outside investment you are now a type C corporation, which means the company profits no longer pass through to you like with a type S corporation (this is a simplification, but is basically how it works).

If you're talking about a business loan, that opens a whole other can of worms. Now you need to be prepared to bare your soul to the lender. They will want all of your financials for multiple years, business plan, sales records, sales projections, inventory records, lease documents, etc...etc...etc...

And the answer to a) and e) is NO and NOBODY.

 

[03rmking]

There are no hard and fast answers to your questions. Most start ups begin with the person starting the business puting a significant amount of their own time and money into getting the business going, borrowing from friends and family, etc. Then, once the concept shows promise, approaching investors to invest. Usuallly, investors get company stock for their investment with the hope that the company will go public. If a company issues 1 million shares of stock, and investors buy in at $1/share (for example) and invest $100,000, then you aren't really giving away the company.

Microsoft, Dell, Amazon, Google, Yahoo...all of these companies recieved significant amounts of outside investment...some even invested in the others (Amazon was an early investor in Google, for example). I would say the company founders made out ok. I know these are multi billion dollar companies, but they didn't start that way.

The fallacy is that you are giving away your company...as a business owner, as soon as you accept outside investment you are now a type C corporation, which means the company profits no longer pass through to you like with a type S corporation (this is a simplification, but is basically how it works).

If you're talking about a business loan, that opens a whole other can of worms. Now you need to be prepared to bare your soul to the lender. They will want all of your financials for multiple years, business plan, sales records, sales projections, inventory records, lease documents, etc...etc...etc...

And the answer to a) and e) is NO and NOBODY.

Great info. I've always wondered how selling stock in a private company works.

How would a private company, who really has no chance of going public, entice investors to purchase shares? If the company remains privately owned, what return do the investors get? If they purchased 10% of the shares, do they literally receive 10% of the annual profits?