I think an urban laundromat/strip club/bar and grill has potential.
I think an urban laundromat/strip club/bar and grill has potential.
I'd keep mine PT and at home-ish (no drop off at my home E36 M3 or they will show up and harass you at all hours), as I would have a 2-3 day FT job already, but I would do the CL/message board/word of mouth auto trans rebuilding. No lift or anything, this would be purely a you take it out and you put it back in. Warranty comebacks could cost some $, but nothing some lawyer-ese verbage can't fix. 
Lots of cheapasses don't have the $3k to have it fixed, most of that cost is R&R labor that they can do themselves.
My current plan is to buy about 300 acres somewhere setup a 4000 ft circular runway and stick a few hangars around the periphery.
Hangars rent for a few hundred bucks a month, you don't need to heat them, and rarely need to light them. I'd also put up a good sized one that's heated and cooled for my FBO. Figure I'll work on some aircraft I want to build or restore, cars that I feel like working on, and occasionally do some work on aircraft for other people.
The wood, dope and fabric guys are going away so having a bit of experience with that helps plus I've done work with a number of popular older aircraft. Gives me space to build light sport aircraft for people that have to surrender their class 3 medical but still want to fly. The return on something like a Zenith 701 is close to 30k (Beech Staggerwings will return better than 100k) if it's done well though that doesn't take into account my personal time to build. I'm figuring I'll be all set financially by the time that dream gets off the ground though the hangars alone will take care of the mortgage and cost to maintain them, plus supplemental income.
In reply to Mitchell:
That sounds really awesome.
I heard something interesting today. Local U haul guy told me there wasn't a rental truck to be found anywhere, from anybody right now. He said, if you're looking for a business opportunity, advertise your moving service at the universities and colleges. You'll have so much work you can't take it all, two times a year.
ClemSparks wrote:poopshovel wrote: As to the "No debt" thing, I do know a few filthy rich people. I don't know any filthy rich people who've never had debt. I won't say "borrow as much as you can." I will say that having a few bucks in the bank affords you to gamble with the bank's money instead of yours. If your business plan is worth a E36 M3, waiting for 20 years to save the money to get it rolling is downright retarded, IMO.Just because you don't know anyone that started a successfull business without lots of debt doesn't mean they're not out there. Personally, "filthy rich" is not on my agenda. 'Twould be nice, though. I'm also am not talking "save for 20 years" but rather "start small and cheap and grow from there" (lean mentality). Point taken, none the less. Regarding "downright retarded": "Nah, scroh...there's lots of 'tards out there living really kick-ass lives. My ex wife was a 'tard...she's a pilot now." [Justin Long as a Dr. in "Idiocracy."]
Right. Which is why I said "I don't know anyone personally" who's done it, and not "It can't be done." And I didn't say you needed "Lots of debt" to be rich, but when people (as they have in this thread and every other one like it) start in with this NO DEBT foolishness, it only serves to discourage people who may have a killer idea but lack the cash to get it off the ground.
I'd genuinely like to hear all the awesome personal success stories that these entrepreneurs on the board have with their businesses that they never had to borrow a nickel to start or expand. I'm obviously doing something wrong.
I would get back into towing. I wish I had gotten my own truck when I had the chance. I wouldn't chase wrecks or do impounds anymore, when I got out I was starting to get a nice base of collector cars going in and out of shops and to shows. I would have built a nice flatbed with a removable cap and then pick up some auction transports or motorclub work to stay busy the rest of the week. And since I'm daydreaming I'd work out of an old firehouse.
JThw8 wrote: Freelance mamographer.
You could call it "Feels on Wheels"
poopshovel wrote:ClemSparks wrote:Right. Which is why I said "I don't know anyone personally" who's done it, and not "It can't be done." And I didn't say you needed "Lots of debt" to be rich, but when people (as they have in this thread and every other one like it) start in with this NO DEBT foolishness, it only serves to discourage people who may have a killer idea but lack the cash to get it off the ground. I'd genuinely like to hear all the awesome personal success stories that these entrepreneurs on the board have with their businesses that they never had to borrow a nickel to start or expand. I'm obviously doing something wrong.poopshovel wrote: As to the "No debt" thing, I do know a few filthy rich people. I don't know any filthy rich people who've never had debt. I won't say "borrow as much as you can." I will say that having a few bucks in the bank affords you to gamble with the bank's money instead of yours. If your business plan is worth a E36 M3, waiting for 20 years to save the money to get it rolling is downright retarded, IMO.Just because you don't know anyone that started a successfull business without lots of debt doesn't mean they're not out there. Personally, "filthy rich" is not on my agenda. 'Twould be nice, though. I'm also am not talking "save for 20 years" but rather "start small and cheap and grow from there" (lean mentality). Point taken, none the less. Regarding "downright retarded": "Nah, scroh...there's lots of 'tards out there living really kick-ass lives. My ex wife was a 'tard...she's a pilot now." [Justin Long as a Dr. in "Idiocracy."]
That would be me. But I cheated by using some inheritance. All in it cost me $30K. My business partner and I both put $10K in as start up money for the company. The other $20K I used for living expenses while I wasn't getting a paycheck. He did something similar.
I'm personally adverse to debt, other than home mortgages. I won't say it's a bad thing, but I don't like it. It keeps me awake at night. My business partner feels the same way. We are going on 8 years now, with no debt other than the 30 day accounts we have with our suppliers and we didn't even have them for the first year. With an extra $100K we could certainly expand faster, but I'll pass on that and run the turtles race.
^^^Awesome. Though if I didn't have the $30k just lying around to begin with, I'd rather borrow it and get the business up and running than spend years saving the $30k, dig? Different strokes I suppose. I don't think you have to be debt-free to be wealthy.
One of the things that stopped me from going into business was that i'd always heard the debt was bad speech. I was 19 and had the chance to buy a towing company from someone retiring. I would have had to borrow some money to give him up front and he was going to hold the note for the rest. In the end the thought of owning that money stopped me.
In reply to poopshovel:
Correct. My father is, lets just say, extremely not poor. He bought a 34' boat last summer. He had the cash to buy it outright, but financing was so cheap he went that route instead.
When he sold his company in 2000 it had $11M in debt on the books. Mostly capital purchases for equipment, like line trucks, bucket trucks and cranes. When you have to have the equipment to do the work, you buy it. If you burn all your ready cash with the purchase, you're out of business because of cash flow problems. Then it's time to talk to the bank. In business, cash is king. If you don't have it, you're out of business.
It's more about being smart in how you borrow than not borrowing at all. I will agree, it's better off to borrow and try, than to not borrow and regret it the rest of you life. I probably wouldn't have said that 8 years ago, but I know a little more about business than I did back then.
Just be smart about it and realize the bank is going to be relentless when you go in. You better have all your ducks in a row, with an outstanding business plan. They are getting pretty tightfisted.
I had an idea a few years ago of a used auto parts buisness. Picture a junkyard, but inside a huge warehouse (we have tons of rental opportunites here) with harder to find cars/trucks/bikes. I would like to have a parts puller and a couple mechanics on the payroll. Given the opportunity, I would also like to restore cars that are saveable.
I do gun smithing on the side mostly ARs and 10/22s. I still hope to get into building my own line but getting parts right now in any sort quantity is damn hard. I do a few fixes for a local gunshop every now and then as well which keeps some solid discounts on guns coming my way.
I used to work for a company that manufactured vinyl cutting plotters. I've been thinking of getting one to make some side money, maybe do runs for companies like GRM/CM. Their single-color die-cut stickers are dead easy to make.
In reply to Cole_Trickle:
There is a place like that in Portland for Euro imports. They buy up wrecks and broke down cars cheap. Break them down for their parts then shelve everything in a huge warehouse broken down by make model and part type. Went there for some 944 parts once.
I like this thread. You guys are cool. 
Mini storage is a good idea- once you've got the buildings up, you're in pretty low maintenance good shape.
The laundromat/bar thing has been done I think, but nevertheless, it's a great idea. My preference would be bar, but you could also make it a nice coffee shop with wireless.
The drone photography business is a great idea with lots of potential- it would be cool if you could use a kinect or something to map the terrain as you provide life video feed. Lots of tech to get running properly, and I don't know what size you'd need- and there are probably lots of businesses already getting into this game.
Today I would love to start a business bashing heads in. I don't even care if the pay is good because the job itself would be satisfying enough.
/rant
Fueled by Caffeine wrote:poopshovel wrote:Naa man. No employees. Fully automated. Stand alone, no cash credit card only 24/7Fueled by Caffeine wrote: Owner of a chain of automated car washes. Very few employees and cheap prices.Homeboy that I worked for in college said the wash itself was $1mil, not incuding the land. Full service (bad idea, IMHO,) 7 or 8 employees working on weekends. We'd average 200 cars a day on a busy Saturday, and I'm guessing the average spent was $10. Doing the quick math, I could never figure out how the berkeley the guy thought he'd ever turn a profit. Also had a nice mercedes jump the rollers and go into the reclaim pond out front. Ouch. I'd never go into that business...certainly not if you expect to be "hands-off." $10 average ticket means a lot of cash money running through the place.
Conventional unmanned standalones do pretty decent if sited right. Has to be near a bunch of apartment complexes for best return. The downside: the runoff can be a problem if DHEC etc find there's too much oil in it.
No way in hell would I do one of those spinning brush machines, they tear cars UP. One idiot leaving his antenna up and insisting that you pay for the damage (more common than you would think) can put a big dent in the week's take.
Also, the cash machines (CC only would probably stunt business) need to be emptied daily. There's folks out there with torches... saw one that had happened to a few years ago.
1988RedT2 wrote: I think an urban laundromat/strip club/bar and grill has potential.
Like the idea of the strip club. 
There's a local place near USC called Suds that has a bar and laundromat, it stays packed.
Curmudgeon wrote: Also, the cash machines (CC only would probably stunt business) need to be emptied daily. There's folks out there with torches... saw one that had happened to a few years ago.
I use the cc all the time at the local car wash. Most people use it vs cash, people rarely carry cash anymore.
If cash machines need to be emptied, chemicals topped off, or parking lot blown off; I'd probably hire a couple retiree's. They would alternate days and work less than 4 hours a day.
Thanks. While I was waiting for my turn in another pointless hearing I was thinking about what I could get into
poopshovel wrote:ClemSparks wrote:Right. Which is why I said "I don't know anyone personally" who's done it, and not "It can't be done." And I didn't say you needed "Lots of debt" to be rich,poopshovel wrote: As to the "No debt" thing, I do know a few filthy rich people. I don't know any filthy rich people who've never had debt. I won't say "borrow as much as you can." I will say that having a few bucks in the bank affords you to gamble with the bank's money instead of yours. If your business plan is worth a E36 M3, waiting for 20 years to save the money to get it rolling is downright retarded, IMO.Just because you don't know anyone that started a successfull business without lots of debt doesn't mean they're not out there. Personally, "filthy rich" is not on my agenda. 'Twould be nice, though. I'm also am not talking "save for 20 years" but rather "start small and cheap and grow from there" (lean mentality). Point taken, none the less. Regarding "downright retarded": "Nah, scroh...there's lots of 'tards out there living really kick-ass lives. My ex wife was a 'tard...she's a pilot now." [Justin Long as a Dr. in "Idiocracy."]
I'll reiterate the part where I said "Point taken..."
I'm obviously doing something wrong.
Dude...you've GOT a successfull business. Nobody's trying to discredit you here.
mtn wrote: They go on vacation a lot more often, they watch TV at work, they *rarely* miss a kids hockey game or family function.
You obviously didn't talk to my dad before starting this thread.
mtn wrote: Obviously the flip side is that they are always working. When they are on vacation, they will be on the lake with a pole in the water and a cell phone to their ear. After their kid goes to bed, they're back in at the office until 10:00PM. When all is said and done, I'd guess that most of them are working 50 hours a week of dedicated time, and another 30-50 of less dedicated time.
Oh, wait, there he is. He wouldn't trade it for any other job out there. He's an appliance guy, and being good at it with prices that aren't insane, he never runs out of work. He says he wouldn't trade it for anything. He did the same job before for Montgomery Wards until they went under, but without the higher level of income he has now. I think the motivation that any extra work he puts in directly translates to money in his pocket pushed him into workaholic mode, but he enjoys the job, no boss, etc...
to weigh in on the debt thing, he didn't take out a bunch of loans to start up. He just sold a bunch of stuff, including a mint one of these:
He does regret getting rid of that, though he has never searched out another one... A Buick like he used to have, though... He actually found one that was just like his and in fantastic shape (a buick. '55 or '56, I can't remember) at a car show. It was a convertable, though (he had a hard top). He gave the owner his card and said if he ever wanted to sell it to give him a call and name his price. The guy didn't want to give up the car, and the call still hasn't come. I think it won best paint in show or whatever that day, I wish I had a picture.
Curmudgeon wrote:Fueled by Caffeine wrote:Conventional unmanned standalones do pretty decent if sited right. Has to be near a bunch of apartment complexes for best return. The downside: the runoff can be a problem if DHEC etc find there's too much oil in it. No way in hell would I do one of those spinning brush machines, they tear cars UP. One idiot leaving his antenna up and insisting that you pay for the damage (more common than you would think) can put a big dent in the week's take. Also, the cash machines (CC only would probably stunt business) need to be emptied daily. There's folks out there with torches... saw one that had happened to a few years ago.poopshovel wrote:Naa man. No employees. Fully automated. Stand alone, no cash credit card only 24/7Fueled by Caffeine wrote: Owner of a chain of automated car washes. Very few employees and cheap prices.Homeboy that I worked for in college said the wash itself was $1mil, not incuding the land. Full service (bad idea, IMHO,) 7 or 8 employees working on weekends. We'd average 200 cars a day on a busy Saturday, and I'm guessing the average spent was $10. Doing the quick math, I could never figure out how the berkeley the guy thought he'd ever turn a profit. Also had a nice mercedes jump the rollers and go into the reclaim pond out front. Ouch. I'd never go into that business...certainly not if you expect to be "hands-off." $10 average ticket means a lot of cash money running through the place.
I look into running an unmanned car wash and it didn't look promising at all....sadly
You'll need to log in to post.
