yupididit said:In reply to Steve_Jones :
How do you even get to buying one or those buildings?
They pop up on commercial listing sites like loop net every so often. The issue is the ones making money only pop up when someone is retiring and the ones not making money, you don't want.
Home design / construction
Pressure washing driveways etc showed up on TikTok ,
Looks like an interesting way to make some money if you live in a warm area ,
I was thinking Handy man or appliance repair. There is a big need for it and I think you could do well with that. I can't believe how many people can't do little things like hanging blinds or changing a light fixture. Also I have fixed a lot of expensive appliances with $20 worth of parts.
Another observation from this thread everyone wants what they don't have. People that own a business tend to pine for the simplicity of working an 8 hour day. People that punch a clock wish they had more influence over the business. Salary people who work a lot of hours for a defined pay wish they got the money of the owner. My wife always says "you can't have part of someones life, you have to take the whole thing."
Captdownshift (Forum Supporter) said:In reply to Hungary Bill (Forum Supporter) :
In a similar, but not quite the same direction, I'd start a sit on top kayak rental business that leads snorkeling excursions in the Caribbean. Low overhead and rarely a day that isn't fantastic.
This was mine. I'd combine it with a fishing charter service, too.
z31maniac said:I can't think of anything that I would want to work that much for. I like the flexibility of my current gig, working from home, and 2021 I was a happy meal away from $100k for the year.
No desire to work 60-80 hours a week for less money, no good health insurance, etc. My fiance's RA meds would be something like $6k per month without my health insurance, and we pay ZERO for them.
Yup this.
The only thing I could see is a small side hustle to make a bit of hobby income. Have a few small product ideas that I could easily make with tools I already have but they are super niche items so I never expect to make much money or even be terribly busy.
Would it have to make money?
If I was in a position where my business did not did not have to cover my personal bills (household mortgage, household electric and so on), I would run a hobby shop that focused on slot cars with in house track and modeling "stuff". If I had a different source of income the hobby shop could just break even or make a bit of money, that would work.
Or I would start a car magazine. I hear those guys are just rolling in money with very little work. (I am laughing while typing this and spell check is having a cow.)
Scott
93EXCivic said:z31maniac said:I can't think of anything that I would want to work that much for. I like the flexibility of my current gig, working from home, and 2021 I was a happy meal away from $100k for the year.
No desire to work 60-80 hours a week for less money, no good health insurance, etc. My fiance's RA meds would be something like $6k per month without my health insurance, and we pay ZERO for them.
Yup this.
The only thing I could see is a small side hustle to make a bit of hobby income. Have a few small product ideas that I could easily make with tools I already have but they are super niche items so I never expect to make much money or even be terribly busy.
I mostly agree with this, but I am nearing a point where I will soon rather be able to travel for much longer periods of time and do something that I'm more passionate about.
I have no intention of working 60-80 hour weeks though. Actually a goal would be to do the opposite. 20 hour week or so.
Hungary Bill (Forum Supporter) said:Ice Cream shop in Spain. Hands down.
I figure I've never seen an unhappy person buy ice cream, and any country that stereotypically sells only the bottoms of bikinis can't be that bad.
I tried to talk the wife into buying this ice cream shop in Belize last year. This really seems like a nice way to semi retire
https://www.businessesforsale.com/dandes-frozen-custard-and-sorbet-for-sale.aspx
Mobile Mammography. I've put a lot of thought into this.
Prototype shop. Get yourself some 3D printers, some laser cutting equipment , a decent scanner and a Solidworks suite.
The world is full of wanna-be tech startups that need a physical model of their "life altering if only we had $$$" idea. You can create this for them and since they will probably be working on some sort of start-up grant, you might even get paid.
Fairly scalable business model from one person to a maybe ten employees depending on what you want. Renewable source of clients since new crop graduates every year and other entrepreneurs come along to replace the fallen many.
Also since the projects change all the time you wont get bored with doing the same thing all the time.
Starting a business is a huge time commitment. Involved in two startups and don't see doing it again. Did not get rich but made a living doing interesting stuff.
A self storage or automatic car wash business. Something I can do on the side to help build some generational wealth.
Fueled by Caffeine said:A self storage or automatic car wash business. Something I can do on the side to help build some generational wealth.
Both of those are usually priced out of reach for most people at this point, especially if they're profitable.
wheelsmithy (Joe-with-an-L) said:Mobile Mammography. I've put a lot of thought into this.
I'm no doctor but I'm willing to check it out.
Travel Blog/Vlog. Amateur Rick Steves so to speak. Before I got this job, I had dreams of fixing up the 67 LeMans (well, I'm still doing that part) and traveling all over North America and doing a periodic production of my travels in the hopes that it could be monetized. I planned on doing it kind of Doogie Houser like... some meat in the middle, and some reflective/growth monologue at the end. If you've ever watched Somebody Feed Phil... like that, minus the socially-inept host. I got bogged down in the fact that a successful Vlog is 1 part making content people want and 30 parts marketing and luck.
My own hot rod/custom shop. I live 20 minutes from Carlisle - home of the biggest swap meets ever. But Carlisle has next to zero car culture. Imagine having a well-equipped custom shop in town. Just bought a 51 Merc basket case and don't want to drag it home to Michigan? Bring it to me, leave your credit card number, and pick it up next year. That dream was kind of killed after having worked for a few shops. Even the big names like Jesse James, Troy Ladd, and Mercury Charlie sometimes had trouble making ends meet. Originating a genre with zero rep in a town that doesn't seem to care about it didn't seem like a good business model.
In reply to Steve_Jones :
Guy at work retired at 66 and was once the partial owner of our company and building. He had some cash and started looking for a business that could be part hobby and part family business.
He said those newer car washes were in the $1,000,000 starting neighborhood. These would probably be a new one.
Steve_Jones said:Fueled by Caffeine said:A self storage or automatic car wash business. Something I can do on the side to help build some generational wealth.
Both of those are usually priced out of reach for most people at this point, especially if they're profitable.
I know a single young engineer. He owns one of both and is a manufacturing engineer for a nascar team as his day job.
Food truck or trailer. Rent an empty lot on a high traffic commuter road.
Coffee and breakfast sandwiches for the morning commute. Hot dogs, sausage, fries, tacos for lunch/ early afternoon. No dinner.
The Red Caboose on Rt. 51 in Elizabeth, Pa. inspired this thought years ago.
I'm retired and still don't have time, so wouldn't do this now. May be good for a family business.
Wow, there are some great ideas here already. I've actually made a list with a bunch of these ideas and will take a closer look at them...so...thanks! and keep 'em coming!
In reply to z31maniac :
Your bio says you're a technical writer; is that what you still do? I'd be interested in knowing more about what's involved in that if you don't mind sharing. Thanks
dean1484 said:Oh, owning a bar and hanging out at it with patrons is a tightrope walk you don't want to do. Either own and run the Bar or go hang out at a bar with friends. Don't do both at the same time.
Yep, I think I have enough insight to know that. But as a dream or an idea some days it still has some kind of appeal.
For me, the reasoning of starting a full time business would be doing something I like while making enough money to make a living. But I'm not sure I am willing to put in what it takes.
I already run a side business (20% or one day a week) and frankly, that works since I have learnt to live on 80% of my normal salary (and with support from Mrs Therealpinto).
About two years ago I had a coworker that was getting out, going full-time real estate (he's happier now, good for him). He asked - if you left teaching, what would you do?
I didnt have a real answer for him, I like teaching - it's, basically, just telling stories.
So I'll start with that and now say a second part before answering the OP. My fiance has her own business in the downtown area of Winston Salem. She works hard, the hours really suck sometimes (does a lot of wedding, she's a florist), and the money isnt pouring in nor is it steady. It's improving every year, but, still, she's busting her butt to try to manage it all (get employees who are decent and pay them a decent wage to keep them there etc, while still paying her shop dues and home bills too). Doesnt look fun, honestly. She's the last one paid. First one in and out, last paid, most stress etc.
Now, for the original question. Is it right now with the amount of money I have in savings? It's not a ton, just at 5 digits, so cant do a ton with that. And, of course, there's the issue of paying my mortgage at the same time etc.
But ideas Ive had, that I'd be interested in doing:
-self-service car wash. Not the automated stuff, just the basic brick structures with a few bays and vacuums.
-small self-storage facility. Even places around here with no power, not climate controlled etc are almost a hundred bucks a month for a 12x12 approx. One unit at a hundred dollars aint a lot, but if you had twenty of those, well, it's a start.
-Pressure washing business. Freaking hard work, as almost all your work will be during hotter months, but could be a relatively low buy in.
-A project/creator space. Ive heard of these in bigger cities, but if you had a large area, just having various tools available to use for people, basically renting items out to people who dont have space to work. The more business you do/did the more you could buy and increase your appeal. And maybe even while running this business offer up various services for folks who need something done but question their own skills/use of the tools? I dont know man.
-Lastly, Id love to run a media blasting company and/or powder coating company. It'd keep me sort of involved with cars and motorcycles, but not so much that I dont enjoy the HOBBY anymore.
Last anecdote I'll tell you: My father, in the late 90s/early 00s, was quite popular motorcycle builder. Like, he had a bike featured on the front page of USA Today. He didnt want to be a motorcycle builder for a job, he's in the furniture business (still is, owns his own importing company), but he started a small shop on the side. My grandfather manned it during the day, and was a part owner, but it was basically my dad and his friend who worked on bikes after they got off their 40+ hour a week job. Then, for a vacation they'd do what they always did - go to bike rallys and stuff. But now it was, "Hey ____, can you look at my bike, _____ isnt right with it..." He couldnt just enjoy riding and the 'scene' (I guess that's what you'd call it), it had really become his job which he DIDNT want.
At 32, I've been self-employed for 15 years. To say the inconsistencies were "fun" would be a less than ideal description. Up's and down's, countless sleepless nights, and some days where I had literal pennies left to my name...and on more than one occasion.
If you truly enjoy overcoming unimaginable obstacles, battling naysayers, and proving to yourself that you can achieve whatever your heart desires...then sure, it is OK. The lack of security, consistency, and comfort is something that has always been in the back of my mind though. "Take the secure job" rings in my head non-stop. There is always a "fall back" normal job, but for some reason, I can't let myself do it. As much as I want to just work a secure job, take home a paycheck, and focus on my hobbies, my mind just won't let me.
I enjoy problem solving, the obstacles, doing what others won't and wondering why. I guess it is a blessing, but to me if feels more like a curse. I do not want to be the best, I do not want to achieve some wild dream, per say, I just want to do what I want when I want so that I can help others when they need it.
If I had to start a new business tomorrow, it would like be a small cafe. Food brings a smile to people's faces, and I would enjoy the change of scenery. Plus, my wife is an amazing cook, and I would love to fulfill her dream of owning her own restaurant.
For myself, I've had some wild dreams, but I think what I would love the most is running a Bed & Breakfast that catered to Motorsports Enthusiasts and was located near a Race Track.
I've been self employed for 20 years, I would do anything but being a contractor/carpenter. I think I'm going to start making decorations out of metal and selling them at craft shows, so that would be the business i start today. Welding and fabrication make me happy
Steve_Jones said:Hungary Bill (Forum Supporter) said:Ice Cream shop in Spain. Hands down.
I figure I've never seen an unhappy person buy ice cream, and any country that stereotypically sells only the bottoms of bikinis can't be that bad.
I tried to talk the wife into buying this ice cream shop in Belize last year. This really seems like a nice way to semi retire
https://www.businessesforsale.com/dandes-frozen-custard-and-sorbet-for-sale.aspx
Oh man, that's too close for comfort...
Story:
As a surprise B-day gift for Mrs. Hungary while living in Kuwait (Circa 2018), I sent her to meet her friends at a condo in Belize. She came back with a real estate listing for a burger joint that was for sale for about the same price as that ice cream shop. We talked about it a LOT.
Short story long: If we were financially independent, and if we could have paid for the place without a loan, it would have been 100% "go". But depending on the place for income after taking a loan out for it turned out to be WAY too much to be humanly possible. In asking around it seems that it's pretty common in Belize for a lot of us expats make the 'big jump" into business like this without doing a lot of research into the area. Then we end up stuck and trying to sell them for years afterwards (as that's how fast the real estate market moves).
I was glad we talked to some knowledgeable people in the area first because for a while there, it was looking like I was going to be "Burger Bill" 
(followed by "Broke Bill")
Still though. Should the opportunity arise, I wouldn't even think twice.
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