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Old 03-18-2009, 10:48 PM
 
7 posts, read 14,311 times
Reputation: 11

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I'm a student in College doing Hospitality Management with Business - one day I want to set up a business in the Los Angeles Area, Anaheim etc.

So my question is, what's the best type of business to invest in Los Angeles?

Nightclubs? Bed and Breakfast? Retail Stores? Spa's?

Any feedback and opinions are appreciated.
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Old 03-19-2009, 12:07 AM
 
2,871 posts, read 4,463,619 times
Reputation: 3554
A brick and mortar business is a gamble, as your teachers have probable told you. You're probably aware of the failure rates of restaurants/bars. What I would investigate first is an outdoor mall cart. I know carts for indoor malls are rather expensive. I think a lot of people would be surprised: up to $5K/month, then up to $12K/month during the holidays. But the returns can be fantastic if you have a product that sells, compared to a retail store in a poor traffic neighborhood. Nevermind the difference in cost to actual mall real estate.

The outdoor mall cart might be cheaper and more effective, and this is my particular idea for one: solar accessories. The green industry. Solar cellphone chargers can go for about $30-$50. That's about a good impulse buy price point. Laptop solar cells are more, but very attractive. What you need is a product that you can actively demonstrate. In fact, you could offer to recharge cellphones at $3 a pop, all the while pitching the product. You'd even have a built-in bark, "Need your cellphone recharged?"

You might want to check where it might be possible to set up. In a business district, food court where there's a sitting audience to capture, strike a deal with a coffee shop if they're in a zone for sidewalk business. The big downside is you have to be present at all times and that can be tedious, and you'd have to work out evening business. You might have to buy capacitors to keep the chargers running.

Edited to add: Also, you might speak to a business that installs solar power to become a sales representative. They might help pay for your business and/or offer a good commission. Solar power is where it's at in the SoCal of the future.

Last edited by Bunjee; 03-19-2009 at 12:38 AM..
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Old 03-19-2009, 09:13 AM
 
Location: Bella Vista, Ark
69,382 posts, read 79,577,446 times
Reputation: 38711
what would be best today and what will work years down the road is anyone's guess. As already mentioned, the survival rate is very low, so make sure you are prepared and have enough backing before you get started. Work in the industry, learn all you can and then pray a lot. It sounds like you realize you need to wait several more years.


good luck, it sounds like something that would be fun...BandBs are gaining in popularity all the time.

Nita
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Old 03-19-2009, 10:07 AM
 
Location: SoCal - Sherman Oaks & Woodland Hills
12,977 posts, read 28,833,519 times
Reputation: 10491
Asking strangers on a forum is hardly what I would call doing your due diligence.

A very wise man who I was fortunate enough to work for for a number of years once told me that find something that you really enjoy doing and you'll never have to work a day in your life. So instead of asking people on a forum what you should invest in, you should ask yourself what do YOU enjoy doing. Then you will have your answer.

What college to you go to? Or is this one of those threads where the OP never replies or maybe only once.
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Old 03-19-2009, 11:05 AM
 
Location: Bella Vista, Ark
69,382 posts, read 79,577,446 times
Reputation: 38711
Quote:
Originally Posted by DaBeez View Post
Asking strangers on a forum is hardly what I would call doing your due diligence.

A very wise man who I was fortunate enough to work for for a number of years once told me that find something that you really enjoy doing and you'll never have to work a day in your life. So instead of asking people on a forum what you should invest in, you should ask yourself what do YOU enjoy doing. Then you will have your answer.

What college to you go to? Or is this one of those threads where the OP never replies or maybe only once.
oh, you have noticed those threads also? Or the ones where the story keeps changing...

Nita
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Old 03-19-2009, 12:14 PM
 
Location: Warwick UK
18 posts, read 45,831 times
Reputation: 13
Quote:
Originally Posted by DaBeez View Post
Asking strangers on a forum is hardly what I would call doing your due diligence.

A very wise man who I was fortunate enough to work for for a number of years once told me that find something that you really enjoy doing and you'll never have to work a day in your life. So instead of asking people on a forum what you should invest in, you should ask yourself what do YOU enjoy doing. Then you will have your answer.

What college to you go to? Or is this one of those threads where the OP never replies or maybe only once.
now that is the truth!
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