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During the last Great Recession, 9 storefront evangelical churches opened up in vacant stores, within 6 blocks of my house, at one time, at one commercial strip, 4 churches right next to one another competing for worshippers, or customers? And now, only 2 remain!
Very astute observation, tijlover. I liked that! It shows that there are many ways to gauge the economy.
The funeral business is pretty darn recession proof. It sure wouldn't be for me but it meets that criteria.
For sure. I would take it one step further and say that a crematorium might be a better choice. With 10,000 baby boomers retiring every day, there will be roughly 10,000 passing away each day also, and cremations are so much cheaper than a funeral with burial plot and gravestone. One could even advertise two-for-one deals. The family plan. Copy what the Hindus do with their funeral pyres and have grandad get cremated on the pyre along with his unsellable Harley or his Grateful Dead paraphernalia.
Ive always thought starting a small payday loan place would be a GREAT idea and basically guarantees you will be profitable.
There is no overhead, except a store front (not sure if this could be done out of your home or not).
There have been so many pizza places that have come and gone over the years, its very rare for a new one to make it beyond a couple years, unless they really have good pies.
- Anything under 100k is fishy
- The barrier to entry to buy even a struggling small business to revamp is unachievable without breaking your back and taking on enormous risk
- No business category is significantly better than another in terms of immediate short term ROI when it comes to retail storefront operations
Is there virtually NOTHING you can get into at the $10-50k level that you can actually put your hands on?
Perhaps I should look into co-ownership instead of owning outright. Caution on doing business with family aside - I'll be able to raise more capital if I include funds from one parent or both.
Get a real job and a part time gig at a liquor store. Do you even know what it takes and costs to get a license and insurance? Wholesale will not issue credit, lease and deposits, a store sign is not marketing. Our town of 15k has at least 10 very well stocked liquor stores. I generally pick the one with the lowest price of the day and ask for 10%.
10-50k is not not an investment. Borrowing parents nest egg for your purpose is close to stealing. You know nothing about running a business and somehow got a bee in your bonnet.
Unlike other states where I have lived, Minnesota did not allow Sunday sales nor grocery sales for anything above 3.2 beer. Small mom-and-pop shops - and in some areas - municipal shops owned by a government (city or county, I believe) were pretty dominant.
After many attempts over the years (blocked by some of the strangest of partnerships), Sunday sales was finally approved a couple of years ago. And now there is an attempt to allow sales in convenience stores/gas stations. And big box stores like Total Wine are moving into the Twin Cities. Target is now adding liquor to their remodels (still have to have physical separation within the retail space, so basically putting up a store within the store with own exit).
So, yeah, laws can change and have sweeping effects.
New England has some weird liquor laws that inhibit Total Wine and Target. In Connecticut they have a minimum price law which requires selling at a certain price point above wholesale. I think that small business liquor stores have a hand in the politicians pockets to keep out the discounters who will sell something at a loss or close to it but recoup with another item that is higher priced. Total Wine lost the lawsuit regarding this law. This alone, if you are on the border between two states, is reason enough not to invest in a liquor store in Connecticut. Prices are 24 percent higher than in neighboring states.
There are a lot of food trucks with limited days/hours in my neighborhood. And they are still very popular because of the quality. I will look into this...
Limited hours per day is ok. But the hours would be fixed everyday, say 6 to 8 pm, 6 days a week.
My point of contention was with the idea that you could choose if and when you want to operate your food truck, if at all. That is the best way to lose a dedicated clientele.
I’ve thought about buying into a storage rental business. Need more cash or loan to get started, but once up and running it’s a money maker. The higher tech facilities require no one to actually be there.
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