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I'm opening a thrift store to help fund my outreach. But I have also decided to open a day care. Yup all work, but so is working for other people. Any thoughts. I know this is the OPs post, but I'm just asking
Are the businesses next to each other? Seems like two odd choices to go together, unless they are for the same outreach mission, if that's the case, perhaps you could get like minded people to volunteer, that would save you a lot of cost. Are you looking to make a profit outside funding an outreach, that may be tough. There's a thrift store in my town that had a similar plan and it's been successful, they actually just expanded into a larger location. If I was you I would start the thrift store, then wait at least a year before starting a daycare. If this is for an outreach maybe you could get free labor or management help from that, of course that is assuming you don't do everything for your outreach. It seems you are starting this more as a charity of sorts then a for profit business, even if you legally set it up as a for profit business, and I would use that to your advantage. Try to get people to donate their skills or other useful things for your "charity". For example, when signing a lease, let the landlord know you are operating a charity, and try to get an easy out lease agreement, the last thing you want to be on the hook for is monthly lease payments if it goes belly up and takes your outreach down with it. Try to find a lawyer to write up a lease agreement for you, or have them edit the lease agreement the landlord gives you, again let the lawyer know it's for a charity, and try to get the work done for free or a much lowered price. If you have any professional networks this will be easier.
I hope I can put this link on here, it's to the business I was talking about. My last advice is don't try to reinvent the business, there are working models out there, simply copy what they do, there is nothing wrong with that, in fact, if I was you I would contact the owners and tell them you have similar plans in your own town and would like any advice/help they have. Home Page
Are the businesses next to each other? Seems like two odd choices to go together, unless they are for the same outreach mission, if that's the case, perhaps you could get like minded people to volunteer, that would save you a lot of cost. Are you looking to make a profit outside funding an outreach, that may be tough. There's a thrift store in my town that had a similar plan and it's been successful, they actually just expanded into a larger location. If I was you I would start the thrift store, then wait at least a year before starting a daycare. If this is for an outreach maybe you could get free labor or management help from that, of course that is assuming you don't do everything for your outreach. It seems you are starting this more as a charity of sorts then a for profit business, even if you legally set it up as a for profit business, and I would use that to your advantage. Try to get people to donate their skills or other useful things for your "charity". For example, when signing a lease, let the landlord know you are operating a charity, and try to get an easy out lease agreement, the last thing you want to be on the hook for is monthly lease payments if it goes belly up and takes your outreach down with it. Try to find a lawyer to write up a lease agreement for you, or have them edit the lease agreement the landlord gives you, again let the lawyer know it's for a charity, and try to get the work done for free or a much lowered price. If you have any professional networks this will be easier.
I hope I can put this link on here, it's to the business I was talking about. My last advice is don't try to reinvent the business, there are working models out there, simply copy what they do, there is nothing wrong with that, in fact, if I was you I would contact the owners and tell them you have similar plans in your own town and would like any advice/help they have. Home Page
Thank you. I will contact them. Presently our non-profit is set up with Articles of Incorporation, but not a 501c3 so that is part of our issue. We are hoping the thrift store can support the operations. The Day Care though it will give a small percentage of monies to the outreach is for profit.
Is it possible to own 3 businesses? Now I know it takes time, hard work and saving but I want to open up three businesses. One; A Gas Station Two; A Strip Club Three; A Pawn Shop.
I'm 19 and I know I can't do it now but I am currently working hard and saving for my future. Can any business owners give me advice and tips? Or are my goals unrealistic?
They seem like incredibly difficult ventures. Stick to an industry that you know about and go from there. Also, a word of advice: Don't Trust Anyone.
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