My wife and I are contemplating starting a business or buying a business. We're not set on a particular business model (she'd love to do something with food and I'd love to do something somewhat automotive...of course 
) and I'm curious if anyone here is either selling a business or knows of a business for sale. It would hopefully be something relocatable, as we are not necessarily looking to move.
Whatcha got? 
I'm in the business of collecting lots of broken cars, sitting on them for a few years, and then selling them for a loss. You want in? 
Buy dead, but cool, cars and convert the front clips to BBQ grills.
MrJoshua wrote: I'm in the business of collecting lots of broken cars, sitting on them for a few years, and then selling them for a loss. You want in?
Tried that...didn't work out. 
If you are doing food, get ready to not make money. Unless you are doing it on a college campus with cheap, voluminous, tasty food that is open late. And make sure its no more than 500 yards from the college bars or dorms.
My idea for a business: open a parking lot near whatever. Minimal upkeep, charge people rent money for a tiny tiny spot!
The wife and I have always wanted to try the concession trailer thing. Seems like you could stay decently busy doing flea markets, fairs, and festivals. Maybe take it to an autocross for the automotive part?
Buy in isn't terrible. A decent used and fully equipped trailer can be had for $5-10K. It's not like overhead is terribly high either, not much more than a freezer full of food.
Jacques
Whatever it is, try it as a hobby first. Do you work? One of you must have income, I assume. Try this new thing nights and weekends, get a feel for the market, time and work involved, then get bigger and quit the 9 to 5. (then you can do the 9 to 9)
Food industry is fickle and very prone to the ups and downs of economy and season. Car stuff? Let me know how you make out.
Dan
Gourmet hot dog with duck fat fries concession trailer at car shows.
boom-boom-swish.
Do something (or buy something) you like to do.
MrJoshua wrote: I'm in the business of collecting lots of broken cars, sitting on them for a few years, and then selling them for a loss. You want in?
Me too. We should get together and talk franchise deals.
Giant Purple Snorklewacker wrote:MrJoshua wrote: I'm in the business of collecting lots of broken cars, sitting on them for a few years, and then selling them for a loss. You want in?Me too. We should get together and talk franchise deals.
so I won't be able to buy junkers without paying you guys a royalty?
pete240z wrote:Giant Purple Snorklewacker wrote:so I won't be able to buy junkers without paying you guys a royalty?MrJoshua wrote: I'm in the business of collecting lots of broken cars, sitting on them for a few years, and then selling them for a loss. You want in?Me too. We should get together and talk franchise deals.
No, no, nothing like that. My vision is that we will just grow a brand where you can buy unsavable junkers in a nice place with chachki on the walls. We can even have pretty girls too stupid to properly order soup help you with your your order. They will have vests with cool buttons.
Giant Purple Snorklewacker wrote:pete240z wrote:No, no, nothing like that. My vision is that we will just grow a brand where you can buy unsavable junkers in a nice place with chachki on the walls. We can even have pretty girls too stupid to properly order soup help you with your your order. They will have vests with cool buttons.Giant Purple Snorklewacker wrote:so I won't be able to buy junkers without paying you guys a royalty?MrJoshua wrote: I'm in the business of collecting lots of broken cars, sitting on them for a few years, and then selling them for a loss. You want in?Me too. We should get together and talk franchise deals.
I dunno...royalties sound pretty good right now...
I saw something recently about a guy that sells deep fried butter and other deep fried stuff at fairs. Quit his job as an engineer or something like that he was making so much money...Making money and hardening arteries at the same time can't be bad! 
I swear a donut/coffee/burger truck would make an absolute killing at all of our autocrosses. Just an idea...
My dad and I are also looking at business ventures at the moment, and the fair food thing has come up as well.
I wonder if I could make the money I'm used to while still getting more time off per year.......hmmmm
I have a bridge in Manhattan that a lot of people drive and walk across every day. If you buy it, you could make it a toll bridge and rake in millions! I also have a great investment opportunity outside of Las Vegas...
914Driver has a very important point - don't jump into it with both feet and risk everything including the grandkids' inheritance. Start it as a potentially money-making hobby with the minimal investment possible, give it 6-12 months and see how it develops. Oh, and be prepared to pull the plug if it doesn't work, and do so in time (just some friendly advice from someone who didn't, had a multi-year lawsuit as a result and got to pay off over $100k after starting over again with nothing but the bailiff breathing down his neck - they didn't have personal bankruptcy in Germany back then).
I would also avoid going into debt to start a small business - you have to be able to live frugally and below your means in the lean months anyway and if you're able to do that, then working out a plan what you want to do and saving up the money to turn it into reality should be possible.
Oh, and don't forget that your small business owns you, even if you're labouring under the illusion that it's the other way around.
http://www.bizbuysell.com/
BoxheadTim wrote: 914Driver has a very important point - don't jump into it with both feet and risk everything including the grandkids' inheritance. Start it as a potentially money-making hobby with the minimal investment possible, give it 6-12 months and see how it develops. Oh, and be prepared to pull the plug if it doesn't work, and do so in time (just some friendly advice from someone who didn't, had a multi-year lawsuit as a result and got to pay off over $100k after starting over again with nothing but the bailiff breathing down his neck - they didn't have personal bankruptcy in Germany back then). I would also avoid going into debt to start a small business - you have to be able to live frugally and below your means in the lean months anyway and if you're able to do that, then working out a plan what you want to do and saving up the money to turn it into reality should be possible. Oh, and don't forget that your small business owns you, even if you're labouring under the illusion that it's the other way around.
Point very well taken. Thanks to another poster in this thread, we were turned onto Dave Ramsey/living below our means, so we're in a good position to dabble in something. And both of us have current incomes, but I think my wife is very savvy and underemployed. She's interested in trying something else and I would love for her to apply her talent towards something she loves and just might (a big might) grow into something we could both engage in. And I do realize that small business comes with a 24/7 lifestyle attached, but I truly think I'd feel better about working hard for myself, rather than making someone else a lot of money.
DILYSI Dave wrote: http://www.bizbuysell.com/
Thanks Dave. I know this site well and have been scouring it lately!
Working at a pizza restaurant for 3, going on 4 years, my advice is to work for someone else, maybe part time, to "get your feet wet". Get a feel for what it's REALLY like. Our restaurant has 2 different asst. managers, and I mean DIFFERENT. One feels he only has to work the register and the other does EVERYTHING, when necessary. Being your own boss/employee may be too much of a drag...or you may love it. Just get a taste, before buying the whole restaurant.
BTW, I think the idea of a "lunch wagon" that tours car shows and/or race tracks is a great idea. It will require a huge commitment, tho.
pinchvalve wrote: I also have a great investment opportunity outside of Las Vegas...
The last waterfront property I bought was lost to a hurricane.
Interested in a coffee shop?
I've got a small coffee shop with most of the equipment that would be needed for 2 separate locations. Espresso machines, fridges, freezers, sandwich prep coolers, blenders, grinders, everything.
The only thing wrong with this business is it's current location (small town, limited market for specialty coffee). But we are not moving anytime soon.
I'll sell the business for the bank's current appraised value of the used equipment. Everything is in like-new condition.
Includes all the corporate filings, licenses, health certifications (in it's current location), etc.
You could combine a few of the ideas here- put a coffee/sandwich shop in an interesting vehicle (like a double decker bus, or a refurbished ice cream truck), park it on a busy downtown corner during the day, at a college campus in the evening, and at the fairs/ flea markets/ car shows on the weekends.
I'll throw in training, all the vendors/ contacts you need, the (small) website, and several years worth of experience. If your wife is anything like mine, it will be a hit!
Gainesville doesn't have a taco truck. Boom, automotive and food interests in one.
Once again, don't get into the custom framing business.
Very, very, very important points I've learned from lots of reading what fellers much smarter than I am have written/personal experience over the last 7 years of owning a business:
Don't get into a business you're unfamiliar with. Liking food/cooking well is nowhere near being qualified to run a restaurant.
Don't have any delusions about "setting your own schedule." There are no paid vacations. There is no gauranteed paycheck. You will work damned near every day.
Unless there's a huge customer base, books (i.e. BANK STATEMENTS) showing huge profits every year - especially recently, don't pay the "good will" cost of an existing business. Start your own.
Emplyees will berkeleying kill you on the tax side of things. A $10/hour employee costs you significantly more than $10/hour.
If you don't hate the government already, get ready. You'll think you're doing great, then...doh, it's tax time again. You'll send them a huge check every quarter, then they'll send you a letter telling you to pay monthly, then they'll tell you that you've filled out the form wrong, then they'll send a letter saying "What the hell are you doing paying monthly, numbtard, you're supposed to be paying quarterly." Then, someone who barely graduated high school and has the IQ of your toe-nail will call you up randomly a couple times a year, asking "So whaddisit ezzacklee dat yo binniss do?"
Best one I've had is a letter effectively saying "You didn't pay your federal income taxes last year. Unless you can PROVE you paid US, here's what you owe, plus penalties/late fees, etc." Had to copy 20 pages worth of tax return E36 M3, bring it to the post office, pay for the postage, and didn't get so much as an "Oh sorry, we berkeleyed up."
If I had it to do over, I'd do like a lot of other folks; make your money first, have enough money to live comfortably for the rest of your life, THEN start a business. It's a lot harder to do it when you're young. You're basically committing to that being your carreer.
If at all possible, one of you should keep a steady job pulling in enough to pay the bills and mortgage. Slow times are scary. Slow times with no backup plan other than living on savings are berkeleying terrifying.
You'll need to log in to post.
