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Old 11-27-2008, 02:31 PM
 
1,788 posts, read 2,538,649 times
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I have more cash on hand, but in this economy $50K is what I'm willing to risk. I'm retired at a young age of my early 40s and I'm getting bored as hell. I invest and play the markets and believe it or not, I have done well there. I have a few rental properties I manage and thought of investing the $50K in yet another studio rental. But, it's boring and I'm looking for something more challenging.

So, if you had $50K to start a small business, maybe home based, what would it be? I'm not above doing any type of work, as hard work never scared me, neither does office work. I was thinking perhaps of a small coffee / snack / hip Art gallery, but I don't like the idea of a lease, I would rather own the location. Hard to do for $50K though.

Any ideas?
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Old 11-27-2008, 08:43 PM
 
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With the limited capital, you might be able to find some sort of wholesale distributorship. My wife and I were able to find through talking with our neighbors a snack distributorship where I work out of my garage replenishing racks and pegs with candy, snacks, pastry, and beef jerky.

Pros: Low overhead, no staffing issues (just me and wife), can pretty much do as I please, only work 4 days a week and no weekends or holidays. I've never had a 4 day weekend prior to this year.

Cons: It does require work in terms of stocking, pricing, rotating product. Have to go out and get more accounts so you have to be a salesperson, getting up early to get ahead of traffic or drive 200 miles round trip (as I do with one account, but it's my largest account and worth the drive).

I absolutely love the business, my clients are great and I get to spend time with my kids. The best part is that I don't have to deal with imcompetent management which is what I've dealt with the last 15 years of jobs.

It will be tough, but if you persevere you will find something that you like. You can check with business brokers listed in your local paper, or just do a google search for businesses for sale.
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Old 11-30-2008, 08:00 AM
 
Location: Lincoln, CA
505 posts, read 917,207 times
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For low capital starts, it might be a good idea to look at some Internet ventures as well. There are tons of retailers, but if you find a good niche product, it's definitely a good way to start. Low to no overheads, can work from home, ship and handle all via web or phone, etc.
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Old 12-02-2008, 12:17 AM
 
Location: Los Angeles Area
3,306 posts, read 1,481,089 times
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Doing business for the sake of doing business usually doesn't end well.

One should start a business because they have an idea they really believe in...
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Old 12-02-2008, 03:06 PM
 
21,720 posts, read 37,184,337 times
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Humanoid and I are going to agree on this.

I have been in the same position as the OP -- sitting on cash and looking for some way to get it "in the game". I looked at all kinds of franchise opportunities, more 'investment propeties' than I care to remember (and I used to own several rental properties), all kinds of consulting businesses and 'limited partnership' even some "master wholesaler" type things.

I have been fortunate enough to have had skepticism and honest advice from my trusted tax advisor. Basically it is pretty easy to lose money in any venture, and very hard to make much.

OTOH I do know people that have side businesses that they've done well with. From service oriented stuff like pool/spa maintenance, and lawn care to various kinds of information based /consulting business oriented things the key seems to have connections and/or extreme passion more than just a desire to fill up time...
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Old 12-05-2008, 04:50 AM
 
1 posts, read 19,508 times
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Default Re:Small business ideas, with $50,000 to start

Hi,This is micheal, I came to know the small business which have been given by you, it was very interesting,Thankyou.
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Old 12-06-2008, 12:35 AM
 
Location: Los Angeles, Ca
2,831 posts, read 3,392,269 times
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I've looked at tons of things over the years, and thought about, toyed with lots of things...

-In the 90's, as a teenager, was into sports cards, sports collectibles alot. Toyed with being a dealer. It was huge back then. The whole country was collecting cards. Everyone and their brother got into being a dealer. Seemed like you couldn't lose with the popularity of sports, the leagues were doing well, mlb, the nba was great. I first rented a table at a show, I think when I was 12, like $30-40 for a weekend. Did it part time for awhile, didnt make huge money.

But I'm glad I didn't get really invested and commited to it. Would have been a mistake, there's more out there. Glad I didnt invest alot....and see $50,000 worth of inventory turn into 10 or 20% of that, when sports changed and the whole market changed.

It depends on what you want out of it. But I think success comes from more than just wanting to fill up free time.

Then late teens, 20's. Looked at money making magazines, franchises. Got into trading, stocks. Did good. Looked at personal development, went to a Tony Robbins seminar, stuff like that. I like looking around.

A physical retail store I've never liked. Between rent increases, there's so much you can't control. And liability, I dont know. And its a long game to make any money.
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Old 12-06-2008, 12:50 AM
 
Location: We_tside PNW / CO / SA TX / Thailand
11,268 posts, read 18,932,579 times
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Quote:
Originally Posted by CarolinaCowboy View Post
...I was thinking perhaps of a small coffee / snack / hip Art gallery, but I don't like the idea of a lease, I would rather own the location. Hard to do for $50K though.

Any ideas?
add to the $50k to get a down payment on a mixed use space commercial building (In an area that you are CERTAIN will be 'rent-able' ). Do an 'owner finance' to start; refi if commercial rates fall, and cash flows make your place attractive.

Get it cash flowing to cover the rent on the portion you need for your 'start-up'. Do a separate LLC for your business and an LLC that holds the building. Work like a dog while you are fixing up the building AND growing the business. Then Sell the business (You will be bored again). Keep the property (for cash flow and equity growth). Use the windfall profit to start another business (If you are still bored...).

#2... don't do food service.... long hours, tough on real estate, tough to sell. Every food person is quirky enough to think they can start one from scratch for cheaper than buying yours... wrong... but then there are TONS of food joints for sale, and used equipment is REAL cheap. I got very tired of seeing food tenants go broke while working themselves to death. I went through about 3 - 4 food tenants for every other business that rented from me. It was a major hassle to clean and re-rent the place, tho it didn't stay vacant very long.
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Old 12-11-2008, 06:42 PM
 
2,119 posts, read 5,446,076 times
Reputation: 1834
Quote:
Originally Posted by Humanoid View Post
Doing business for the sake of doing business usually doesn't end well.

One should start a business because they have an idea they really believe in...
Precisely what I was just thinking as I was reading the top of this thread. The successful entrepreneurs I know didn't start any of their businesses because they were bored. They also didn't just start any old business via a random mix of online or friendly suggestions. They found something they could be passionate and excited about. They get up everyday excited at the challenges which await them... some of them love the money they make, others love the power and influence they have gained, yet others just enjoy the feeling of being needed by the community (and serving it).

I believe the OP needs to figure out what makes him or her happy, and then find a business idea related to the idea.
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Old 12-11-2008, 07:04 PM
 
Location: Yes
2,663 posts, read 4,212,239 times
Reputation: 855
Quote:
Originally Posted by CarolinaCowboy View Post
I have more cash on hand, but in this economy $50K is what I'm willing to risk. I'm retired at a young age of my early 40s and I'm getting bored as hell. I invest and play the markets and believe it or not, I have done well there. I have a few rental properties I manage and thought of investing the $50K in yet another studio rental. But, it's boring and I'm looking for something more challenging.

So, if you had $50K to start a small business, maybe home based, what would it be? I'm not above doing any type of work, as hard work never scared me, neither does office work. I was thinking perhaps of a small coffee / snack / hip Art gallery, but I don't like the idea of a lease, I would rather own the location. Hard to do for $50K though.

Any ideas?
Your situations sounds awesome. I hope to be at that point one day.

Personally, I would design t-shirts and sell them online. But I have always dreamt of opening my own small shop selling indie clothing, off-beat sports gear, and such.
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