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 Party Girl
Posts: 12293
   
Location: Buffalo, Wyoming | What do you do? Not looking at the MLM business but something brick and mortar or something mobile. ?How did you go about starting it or buying it? We are looking at multiple different avenues right now, just kind of getting an idea of what other people do. Also what kind of businesses would you love to see come to your town or somewhere close to you? |
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Mrs. Txdad
Posts: 14084
Location: the fantasy txdad married | I own a small cafe. I got lucky when I bought it because the seller was very desperate, lowered the price and offered to carry the note with half down. Sold a horse trailer to get the down payment.
It is a LOT of work! I've had less than a week off in almost two years and have only got two days in a row off a couple times.
Ive not been able to go to a barrel race or rodeo since we opened.
We still struggle even though the business has picked up over 300%.
Every time I think I'm really doing well, it's tax time again and my account goes back to zero 
This small town we live in has pretty much everything you could want except they closed the book store and the theatre :( |
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 Expert
Posts: 1857
 
| Liquor store..... can never have to many liquor stores  |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | FlyingJT - 2016-03-02 2:45 PM Liquor store..... can never have to many liquor stores
We live in "damp" county... That is what our waitress called it the other night. They sell beer at the stores and gas stations but you can only get liquor at a bar or resturant. This is in Texas ?I really wanted to buy one when we live in Wyoming since they are on every corner. If I were back in Utah it would be a no go as they only have state liquor stores. I am really looking for something I can expand into different states. We currently live in Texas but are wanting to get back to Wyoming and we travel to Utah a lot since all of my family is here. |
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 Just a Yankee
Posts: 1239
Location: Some where I haven't left yet | DON'T Do it it's a TRAP...  Seriously though I've got my late husbands trucking company.... I'll sell it cheap... Free.99 |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | Lucylouwon - 2016-03-02 3:21 PM
DON'T Do it it's a TRAP... Seriously though I've got my late husbands trucking company.... I'll sell it cheap... Free.99
Is it a trucking company or a brokerage? We had a hot shot company last year but when the oil field slowed down so did we, plus we both had very full time jobs. |
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Expert
Posts: 1857
| UTAHCANCHASER - 2016-03-02 4:09 PM
FlyingJT - 2016-03-02 2:45 PM Liquor store..... can never have to many liquor stores We live in "damp" county... That is what our waitress called it the other night. They sell beer at the stores and gas stations but you can only get liquor at a bar or resturant. This is in Texas ?I really wanted to buy one when we live in Wyoming since they are on every corner. If I were back in Utah it would be a no go as they only have state liquor stores. I am really looking for something I can expand into different states. We currently live in Texas but are wanting to get back to Wyoming and we travel to Utah a lot since all of my family is here.
Car washes, Laundromats, Vending machines(beverage, snack, quarter machines)
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 Accident Prone
Posts: 22277
Location: 100 miles from Nowhere, AR | Lucylouwon - 2016-03-02 4:21 PM DON'T Do it it's a TRAP... Seriously though I've got my late husbands trucking company.... I'll sell it cheap... Free.99
You must have recently received your tax bill. |
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Expert
Posts: 1857
| A bed and breakfast... I've always wanted to open one. |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | FlyingJT - 2016-03-02 4:16 PM A bed and breakfast... I've always wanted to open one.
It isn't a BB but my SO's parents own cabins on a lake in Arkansas. I don't think I could do it after watching what they have gone through the last 6-7 years.
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 Hugs to You
Posts: 7551
Location: In The Land of Cotton | I have thought about you often and your restaurant and wondered how you were. |
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  Damn Yankee
Posts: 12390
Location: Somewhere between raising hell and Amazing Grace | I want to open a MOD Pizza or a Real Deals home decor store..... |
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Hugs to You
Posts: 7551
Location: In The Land of Cotton | 1left2right - 2016-03-02 4:24 PM I own a small cafe. I got lucky when I bought it because the seller was very desperate, lowered the price and offered to carry the note with half down. Sold a horse trailer to get the down payment.
It is a LOT of work! I've had less than a week off in almost two years and have only got two days in a row off a couple times.
Ive not been able to go to a barrel race or rodeo since we opened.
We still struggle even though the business has picked up over 300%.
Every time I think I'm really doing well, it's tax time again and my account goes back to zero
This small town we live in has pretty much everything you could want except they closed the book store and the theatre :(
I meanto to quote you. I have wondered how you were doing. Hard work owning a food establishment. I hate you work so hard. |
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 Life Saver
Posts: 10477
Location: MT | Owning your own business is tough. I started mine a year ago and the only way I've been able to keep mine going is because my husband has a stable income. Don't plan on making a great income for awhile, especially when it's in the developing stages!
Edited to add: Every cent I have made this first year has gone right back into the business.
Edited by ruggedchica 2016-03-04 8:21 AM
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Miracle in the Making
Posts: 4013
| lucky me i am agent for trucking company so aafter i got hurt i can still work but no longer make sales calls as physcially impossable
but its great i love it totall commission been doing 30years and i still like down side of course its is my injury last vacation 2009 |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | ruggedchica - 2016-03-04 7:19 AM Owning your own business is tough. I started mine a year ago and the only way I've been able to keep mine going is because my husband has a stable income. Don't plan on making a great income for awhile, especially when it's in the developing stages!
Edited to add: Every cent I have made this first year has gone right back into the business.
We both will for sure be keeping our day jobs for awhile we can't afford not to. If it wouldn't have been for our real jobs our Hotshot business wouldn't have last as long as it did but then oil prices crashed and we just couldn't handle it after that. The trucking business is a hard one to be in and make money. |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | vjls - 2016-03-04 7:21 AM lucky me i am agent for trucking company so aafter i got hurt i can still work but no longer make sales calls as physcially impossable
but its great i love it totall commission been doing 30years and i still like down side of course its is my injury last vacation 2009
What do you do for them? |
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Mrs. Txdad
Posts: 14084
Location: the fantasy txdad married | 3canstorun - 2016-03-04 6:41 AM 1left2right - 2016-03-02 4:24 PM I own a small cafe. I got lucky when I bought it because the seller was very desperate, lowered the price and offered to carry the note with half down. Sold a horse trailer to get the down payment.
It is a LOT of work! I've had less than a week off in almost two years and have only got two days in a row off a couple times.
Ive not been able to go to a barrel race or rodeo since we opened.
We still struggle even though the business has picked up over 300%.
Every time I think I'm really doing well, it's tax time again and my account goes back to zero
This small town we live in has pretty much everything you could want except they closed the book store and the theatre :(
Aww, thanks!! It is very hard work! It is just now starting to pay for itself, thank goodness!! I had to put all of my own money (sold a couple nice horses) into the business and then jimmy had to get an outside job to get us by. But, he just left that job and is back working with me in the cafe.
And even though I haven't had to put my own money in lately, I've still not been able to take any of that money back out so, I didn't get to buy that new trailer I was going to when I sold those horses, lol
it will all come later though :) |
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 Worst.Housekeeper.EVER.
Location: Missouri | Lucylouwon - 2016-03-02 4:21 PM DON'T Do it it's a TRAP... Seriously though I've got my late husbands trucking company.... I'll sell it cheap... Free.99
This is me, every year about now, working on taxes...
Also, consider health insurance. It's unbelievably expensive when you are self-pay.
Oh, but follow your dreams! It will be fun, they said!
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 Roan On The Range
Posts: 7889
Location: Stephenville, TX | UTAHCANCHASER - 2016-03-02 4:09 PM FlyingJT - 2016-03-02 2:45 PM Liquor store..... can never have to many liquor stores We live in "damp" county... That is what our waitress called it the other night. They sell beer at the stores and gas stations but you can only get liquor at a bar or resturant. This is in Texas
?I really wanted to buy one when we live in Wyoming since they are on every corner.
If I were back in Utah it would be a no go as they only have state liquor stores.
I am really looking for something I can expand into different states. We currently live in Texas but are wanting to get back to Wyoming and we travel to Utah a lot since all of my family is here.
We NEED a liquor store in Stephenville so I don't have to leave the county to buy bottles of booze. |
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 Elite Veteran
Posts: 984
Location: Southwest Minnesota | My husband is a contractor and we have a construction business. What I really would like to do most winters is run a bar on any beach on any island in the Caribbean... I really don't have much of an appreciation for Minnesota winters. |
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 Expert
Posts: 1257
Location: Colorado plains standing on a goat head! | We have a drug testing business/third party administrator and have been very blessed with it! We work with drug screen collectors all over the country. That could be a possibility for you. It was probably better when oil and gas were booming and now that coal is getting hammered the railroads are down. If there are industries in your area that are doing well and test it could be an option. It is easy to learn and pretty low cost of entry unless you buy a mobile unit. We have never purchased one and make a a fair amount with on-site collections. That can be mobile and/or brick and mortar. It is not a very glamorous industry but after being around livestock, people stuff is not a big deal!Then you have the conflicts mentioned above; you are so busy you can't compete or get home to ride to keep the ponies in shape or the money needs to go back into the business. It is generally the last thing you think of at night and the first thing you think of in the morning! We do have good flexibility for shoeing or vet appointments or doctors. We purchased the business from my wife's bosses over 10 years ago and have grown it substantially so maybe we can sell it and go play full time someday! |
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Party Girl
Posts: 12293
Location: Buffalo, Wyoming | paysonw - 2016-03-05 5:55 AM We have a drug testing business/third party administrator and have been very blessed with it! We work with drug screen collectors all over the country. That could be a possibility for you. It was probably better when oil and gas were booming and now that coal is getting hammered the railroads are down. If there are industries in your area that are doing well and test it could be an option. It is easy to learn and pretty low cost of entry unless you buy a mobile unit. We have never purchased one and make a a fair amount with on-site collections. That can be mobile and/or brick and mortar. It is not a very glamorous industry but after being around livestock, people stuff is not a big deal!Then you have the conflicts mentioned above; you are so busy you can't compete or get home to ride to keep the ponies in shape or the money needs to go back into the business. It is generally the last thing you think of at night and the first thing you think of in the morning! We do have good flexibility for shoeing or vet appointments or doctors. We purchased the business from my wife's bosses over 10 years ago and have grown it substantially so maybe we can sell it and go play full time someday!
Could you PM or email me more information on this? It sounds pretty interesting. |
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| One thing to keep in mind when owning your own business is try to build a business that operates without you. I'm trying to keep this in mind myself, but some days I don't know if I'm getting there. At the end, you have something to sell or can retire with some form of continuous income.
We have an attorney friend who got cancer and didn't make any money for over 2 years. He is the business.
My f-in-law has a successful insurance brokerage, but none of his kids enjoy insurance. He doesn't want to quit working till he dies, but unless one of kids gets their insurance license, if something happens to him, his business will just dissolve so no asset to sell. He could bring on an associate to sell to, but it would be a nightmare working with/for him!
Just something to think about long term. |
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 Veteran
Posts: 253
Location: Back Creek Valley!!! | Let me know when your hiring for that bartender job on the islands!!!!!!  
Edited by wendinbha1 2016-03-06 7:14 PM
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For those that own your own business