Possible business purchases..

select-fire

I've been doing some serious looking for something to do. I have tons of time on my hands and my rental properties do not keep me busy. I need some imput of the good and bad of the possible established business in which I am considering.
1. Auto Transmission shop ( business and building well established. Owner is getting ready to retire )

2. Mexican Restaurant. Owner has another restaurant and can't run both.

3. Grocery store. Well established. Owner is going to retire.


Good or bad what sounds like something worth fooling with?

bsally

quote:2. Mexican Restaurant. Owner has another restaurant and can't run both
You should have a good customer base already.[:D][;)]

dcloco

NO on the grocery store - they survive on 5% markup, at most.

Yes on the transmission business - VERY lucrative. KEEP the good help, pay them what they are worth.

Maybe on the restaurant - they are a TON of work. You will be there 18 hours a day.

bobski

how well do you know tranny's?
serve one bad meal and youre ruined.
sell out of age food and your ruined.

Mercury

#2 and #3 are both high labor, low return businesses. You would be CRAZY to do either one, imo. If you are reliable, and don't rip people off, any sort of automotive repair shop can do well. Honest places stay in business.


Merc

Captplaid

Non of the above.

How about installing and servicing quarter air machines at gas stations. You service them and collect money every month. The gas station provies electricity, and split the profits 50/50. Get enough air maichines and you stay busy between going out on collection, service and repair, and counting change.

gearheaddad

In order to make a little money in buying a business, start with alot of money!!!
Good luck,
Ed

scottm21166

at least if you own a store or restaurant you could eat for free. I am sure that would appeal to you

beneteau

Depends on your area population/minorities, etc.

Check-Cash-Advance.

Need small store/office---cash to advance out against checks-computer, copier, adding machine(s). No inventory, open only during the day, closed Sunday and holidays.

Fourteen (14) day payback on advances----Tennessee: $30.00 service fee on a $200.00 check advance (2 per customer)---can "renew" the advance every 14 days---by paying $30.00 cash and writing new check. Mississippi (I've heard): $65.00 service fee for a $200.00 check advance (1 per customer).

I'm about to retire (Tuesday---last day) as an Assistant Manager of a Cash Advance store. Depending on amount of customers (naturally); but, possible to gross $30,000-$40,000 or more per month.

COLT

...bobski is close. I had a successful business for 30 years. If it's donuts, or transmissions...go with something you know inside and out.

...A quality franchise will have a very extensive training program; as it is in their best interest for YOU to survive as a viable entity.

The idea that an established business will stay profitable, and viable...is just that, an idea. If you can afford to be a "silent" owner, more or less,...and be fortuanate to keep ALL the employee's
in their positions, that method can work; but you still need to know 110% of that business.

...Obviously you will have your hand deep in the cookie jar, being the owner...but that in itself is a 24/7 job, the buck stops with you. To make it a great business, you will no longer have a "ton of time on your hands"...good luck!...[;)]

nomadictao

I have bought two established businesses. The first was a record store. I bought it from the second owener who knew jack about selling records or music, and the place was going down the tubes. I knew that I could run the place better and make more money. I bought it for about $10,000 in 1986. I got the place into the black after one month and had a decent income for over nine years. This was a great experience. I made money and had the time of my life. I had to close the store because the city tore up the street in front for about six months and it killed us. I did get out debt free and still retained my inventory that I live off of for about a year after that. It was a tough time for record stores in the mid 90s. About 2/3 of them went under the same time I did. I consiter this one a great personal success.

I bought a tutoring business a few years ago. It had a lage client base and was making money. I paid alot for it. I lost more money tham I thought was humanly possible.

It was extremely labor intensive. I had 35 employees at one time, and they were very expensive. The client base was so strongly linked to the previous owner, that I never even had a chance to screw it up. I bought it at the end of a school year. The old owners said goodbye, while I prepared for the comming September. No body called in September, and I was stuck with a huge payroll. I fought it out to the bitter end. Not a happy thing.

1. Don't spend too much money.
2. Don't buy it unless you KNOW you can do a better job than the other owner.
3. If labor doesn't make you money, the money you spent on it is gone. In retail you can always figure out to sell slow moving merch. At least get your money back (unless its perishable).
4. Don't buy a business expecting to be trained, only do that which yopu gave a strong passion for and would be doing it anyway. Don't buy a car repair place unless you know trannys real well, and work on them for kicks.

wundudnee

You could give some thought to a day, contract, mano-power type labor business. You might be able to work out of Home Depot's parking lot to save on overhead.
[}:)]

scottm21166

buy the mexican restaurant/employment agency...then buy some of those cube vans for your employees to sell tacos at lunch to all your other employees on their job sights...then move your employees into your rentals.....be sure to teach them the words to 16 tons
diecis?is toneladas y lo que le hacen obtiene otro d?a m?s viejo y m?s profundo en deuda yo le dije a santo Peter
que puedo ir porque debo mi alma a la tienda de la compa??a