Asheville NC, I have 1 Million to Start a Business (debt, sales, financial)

[RACCAS]

I am 54 years old and thinking of moving to Asheville, NC. I hear the tourist business in shrinking due to economy. What business ( if any) would be very profitable and successful in this economy in Asheville? I have about 1 Million for seed capital.

[sunsprit]

No business would likely be "very profitable and successful in this economy" if you don't have a business background and some expertise in whatever it is you are trying to do.

So, do you have some skills, experience, marketing background, sales background, or a business background of some sort? Retail? Commercial? Industrial? Hospitality?

IMO, there's lots of opportunity in the markets today ... if you know what to do and have researched and developed a need/niche that you can fulfill. Having the luxury of so much seed capital at hand doesn't address the concerns about your personal financials for relocating ... or a prospective business's financials needs. I'm assuming that you want to get a total net ROI of your $1mil available?

[herbroberson]

Well, if you need a worker gve me a shout. I am 55 and looking to retire from my current field, but will need something to supplement my retirement. I am 55, and know how to work hard. And I would b cheap..LOL

[ZugZub]

Open a nice pub. No matter the economy, people will always want to get out and have a drink, and listen to some live music from time to time.

[London Girl]

Given the state of the national economy I'd say funeral director......one of the only certainties in life............

[wanneroo]

Oh I don't know. I've been watching Chef Ramsay's "Kitchen Nightmares" a lot and it is sad where he goes into these failing restaurants that people are on the hook for $1-$2 million in debt because they didn't have a clue about owning a restaurant and thought how hard can it be?

My advice to anyone young or old is to pursue your love and what you would want to wake up to every morning. Don't open a carpet cleaning business unless you love to clean carpet. Don't open a restaurant unless you want to cook. Don't open a car repair place unless you love to fix cars.

[tatiana1]

Originally Posted by RACCAS

I am 54 years old and thinking of moving to Asheville, NC. I hear the tourist business in shrinking due to economy. What business ( if any) would be very profitable and successful in this economy in Asheville? I have about 1 Million for seed capital.

Definetely a funeral home, because many people will die in this economy unless our beloved new President does something. I heard there's lots of money to be made in the funeral business...Try to research some more. Good luck!

[freedom]

Originally Posted by RACCAS

I am 54 years old and thinking of moving to Asheville, NC. I hear the tourist business in shrinking due to economy. What business ( if any) would be very profitable and successful in this economy in Asheville? I have about 1 Million for seed capital.

Invest in the best farmland possible and plant your seed.

freedom

[sunsprit]

Originally Posted by freedom

Invest in the best farmland possible and plant your seed.

freedom

While I agree with the underlying motivation for "freedom" and possible independence, farming is just about one of the worst possible ways to make a lot of money.

"Success" isn't a given, either.

I'm reminded of the joke about a farmer and his wife who won the lottery in their state ... when asked what they were going to do now that they had all that money, the farmer said he'd "just keep on farming 'till the money's gone".

[desertsun41]

You have a million dollars and your asking people you dont even know for advice what to do with it.

Should I laugh? Cry? Maybe just suggest taking a few thousand and sitting down with a Financial Planner for an hour. Maybe go to a SCORE meeting. If you won or received that money from an inheritance then I suggest you go to see SCORE. If you earned it the hard way, you surely have the smarts to not need our advice.