What type of business should I buy/start?

[brick]

I've been working a computer desk job for 3 years and need change. I have decent people skills. Great planning and financial management skills. Good computer skills. Zero experience running my own business.

The business I choose should be something that can be imporved and then sold or have good long term growth potential (replication of stores, etc).

I can proably come up with 40k. Will take business loans as needed.

-Start small assisted care home
-Get a loan and buy a small manufacturing type company
-Buy a small business ($1 store, etc) with a lot of revenue (but not much profit) and try to increase the margins.
-Start a unique business that is likely to fail, but might make it big.
-Buy a resturant or bar and try to get a permit for poker tables.

or ???

any ideas, insight, stories about your expereince?


thanks for the help

[eric5148]

There was a 2+2er who had an online store that accepted Neteller payments, and it was very popular. He sold mainly gift certificates and a few poker books. A few months ago he closed it down for some reason.

I don't know anything about running a business, but I think if you did something like this, it would be very succesful. 2+2ers alone would probably keep you in business. Even more so if you added many different types of gambling related stuff (poker books, software, chips, etc.).

[GeorgeF]

-Start small assisted care home
My guess is you need alot of credentials, licenses, ect.. BTW, can you evict granny if she can't pay anymore.

-Get a loan and buy a small manufacturing type company
Where in China, I can't imagine that being a good choice out of the box. Did you notice that the auto industry is going bankrupt in the US. Your Canadian right?

-Buy a small business ($1 store, etc) with a lot of revenue (but not much profit) and try to increase the margins.
You crazy Joe. Don't you think all those people that own $ stores already thought of that.

-Start a unique business that is likely to fail, but might make it big.
That's being specific.

-Buy a resturant or bar and try to get a permit for poker tables.
See about the permit before you buy.

http://www.score.org/

[natedogg]

Self storage. I'm serious. These are very cheap to build and run, and very profitable. And after the coming wave of foreclosures, more people will need extra storage space....

natedogg

[inishowen]

Look towards service related businesses. Scrap the assisted care, great idea, too many solid competitors, retail sux, small scale manufacturing can't compete in this country, most restaurants fail.
A buddy of mine went thru this about two years ago, researched a ton of businesses, franchises, concepts, etc. Eventually bought, don't laugh,............a carwash. Veritable ATM machine for him.

[brick]

Thanks for posting this.

I hope the ideas keep coming.

[DWarrior]

Ugh...is a literal ATM machine a profitable thing? Sounds like it wouldn't cost too much to maintain, sorta like the gumball machine kids post around stores /images/graemlins/smile.gif

[royaltrux]

Automatic car washes (laserwash and the like) are hugely profitable. Restaurants are the hardest business to make a profit from besides gas stations right now.

[James Boston]

You sound like you need a career change, but can't decide between becoming a brick mason, proctologist, or a rock star. Your ideas seem un-researched, unrelated, and misguided. Do you know anything about anything you listed? Do you think you would enjoy working those jobs if that was what you did, but as someone else's employee? I'm not trying to poop all over your ideas, but the idea doesn't seem to go any further than, "I'm gonna start a business." Figure out what you can do, if you'd like it, and if it could make money.

BTW, a millionaire is just a multi-millionaire who bought a restaurant...bad idea.

[brick]

My ideas cover a broad range because I'm examing all options. They definatly are unresearched becaue I'm just brainstorming.

[inishowen]

Brick, you know better than anybody what's best for you. Think about what you are passionate about? Everybody has an internal motor that takes them to where they end up in life. Bill Gates knew at 12 what he'd be doing, Colonel Sanders probably knew at a young age too, his problem was that he waited until he was 69 to accept it and start KFC. Even the bum on the street probably subconsciously knew his whole life he'd end up where he is. The fact that you made the original post says that you are unhappy where you are now but you're looking in the wrong place for validation (or the courage) to do what you really want to do. We could all tell you to open an ice cream stand, you'd thanks us, but would you? Tommorrow, next week, next year, 10 years from now, you'd still go and open the business that you already consciously or subconsciously know you're going to open. You need to put into action what you've been telling yourself to do your whole life because we all end up, to a certain degree, exactly where we thought we'd be. Agree or disagree? Now, post your business idea and we'll all tell you what a moron or genius you are. Either way, it'll be your idea.

[DWarrior]

You know...I had an idea like that once. It was a "Jump To Conclusions Mat". You see, it would be this mat, and it would have different conclusions WRITTEN on it that you could JUMP to!

I went to a local marketing firm to try and get some ads going, but they just smacked me and laughed and said what a stupid idea that was /images/graemlins/frown.gif I'm never doing this stuff again.

[brick]

I think I will build log houses and sell them.

[Caponeny]

That is the best idea you have had yet, why dont you do this, build log cabins, sell them in the middle of some hunting state. Then build a big log cabin in the middle, that being your central restaruant, with an automatic car wash for all the crap that gets on their trucks, an ATM, and there in the back you can manufature small dollar store items that you sell to them while they wait for their table.

[MMMMMM]

If you pick something you actually know about, your chances of success go way up.

Also, one of the fastest ways in the world to lose money is to start a business you know nothing about.