If you had 25K to start a part time business

[El Presidente]

I think it was Jim Rohn who encouraged people who wanted to start their own business, to start it part time and only give up their main job when the part time business got to the point of making the same money. Makes some sense. Of course the other way is burning all bridges and never looking back. That is much harder to do with those blessed  by loved ones/responsibilities.  I know first hand 

 

if you could start a part time business (with perhaps the vision to make it your work life down the track), what would it be?  Maybe you already have and if that is the case I would love to know your story. 

If you had access to $25K to start a part time business tomorrow....what would it be? 

[Derboesekoenig]

Coffee roaster, cafe, bakery, with cigar lounge and walk in humidor attached. Have been thinking about it a lot lately. Could start small, but it would be difficult. I would want to go all in. It's a hard sell, and a lot more than 25k upfront cost for sure. One can dream though....I'm still young. Wish the embargo didn't exist. That would probably make my decision a bit easier, unless I started it in a different country.

[prodigy]

My brother got his degree in chemistry and started his own business manufacturing CBD oil. He's been roughing it out for almost a year now and I think it's about to take off. He uses scientific procedures that few, if any, competitors use or even know about. I wish I had gone in on it when he started but I was just graduating college myself and didnt feel comfortable turning down a guaranteed job to go out on a limb.

Sent from my SAMSUNG-SM-G891A using Tapatalk

[Fuzz]

33 minutes ago, El Presidente said:

If you had access to $25K to start a part time business tomorrow....what would it be? 

No comment....

[MD Puffer]

23 hours ago, Derboesekoenig said:

Coffee roaster, cafe, bakery, with cigar lounge and walk in humidor attached. Have been thinking about it a lot lately. Could start small, but it would be difficult. I would want to go all in. It's a hard sell, and a lot more than 25k upfront cost for sure. One can dream though....I'm still young. Wish the embargo didn't exist. That would probably make my decision a bit easier, unless I started it in a different country.

Killer hours....  4am (for the bakery), shoot on through to b'fast for coffee, keep on trucking for lunch (gotta maintain profit margins), the stay for the evening crowd (for the cigar lounge).  You'll need reliable staff and it'll help if you live on the premises!

 

 

Supposing my state were to legalize marijuana for medicinal use?  I will add a dispensary to my already existing psychiatric clinic.  Tentative plans already on paper.  Legalization in Alabama?  My guess is 10+ years away at best.  I fully intend to prescribe it and dispense it at the same location.

Supposing I had the time?  Pecan farm.  Another business I've already planned for.  I have the land, and pending soil analysis and irrigation, I'd enjoy 7-8 years of write-offs.

Not sure of the feasibility, but another idea I had a while back was restoring old gas station real estate.  I'm not sure how it is in other states, but I remember when I was a kid any where you drove in the Alabama you'd see Mom 'n Pop independent gas stations everywhere.  Small interior, a few aisles of goods, cooler, smokes, etc.  Sometime around the 90's, either state or federal laws changed mandating that these gas stations retrofit their gas tanks with protective encasement.  Most could not afford the upgrades, and all these independent businesses went under overnight.  To this day the highways are dotted with abandoned gas stations.  Unless someone pays cash you can't obtain a commercial mortgage without a proper environmental cleanup.  I think such a business that specialized in revitalizing old gas station properties could be profitable.  Perhaps even more so in the not too distant future when one might anticipate many gas stations going out of business with electric vehicles becoming more prevalent on the market (supposing the gas stations weren't retrofit for EVs- which is another business idea altogether).

 

 

[golf4less]

Seven years ago I quit my job of 28 years and with one child in college and the other a junior in high school, I emptied our bank accounts and started a discount golf store. I had zero experience in retail but was tired of someone else being in control and reaping the benefits of my hard work. I just recently emptied the accounts again, maxed out a couple credit cards, and on October 1st. Opened my third location. I absolutely love working for myself and lord willing will be able to do this for many more years. 

[ponfed]

I feel that I could start an innovative business that would research, in real time, different processes by which one could blow through 25k by spending it on random bullshit.

I don't know that it would last though.... hard to keep that *spark* going.

[Lotusguy]

Flip 80 boxes of Cohiba Talisman

[El Presidente]

2 hours ago, Derboesekoenig said:

Coffee roaster, cafe, bakery, with cigar lounge and walk in humidor attached. Have been thinking about it a lot lately. Could start small, but it would be difficult. I would want to go all in. It's a hard sell, and a lot more than 25k upfront cost for sure. One can dream though....I'm still young. Wish the embargo didn't exist. That would probably make my decision a bit easier, unless I started it in a different country.

Dream large, plan in detail. 

FOH  CCBB

Cigars, Coffee, Booze, bakery. + the best Cuban Sandwiches in the world. 

[El Presidente]

2 hours ago, Fuzz said:

No comment....

Keep it to yourself Sanchez,.......for the love of god this is a family forum 

[El Presidente]

1 hour ago, MD Puffer said:

Killer hours....  4am (for the bakery), shoot on through to b'fast for coffee, keep on trucking for lunch (gotta maintain profit margins), the stay for the evening crowd (for the cigar lounge).  You'll need reliable staff and it'll help if you live on the premises!

 

Killer points.  

[cigcars]

    *I'm familiar with Jim Rohn, he was popular back in the '80's or earlier. I must say that it would be truly unrealistic to think you can handle your business only part-time. IF you are going to experience any kind of success at it...you are going to have to WORK LIKE A DOG. It's too easy to just sit back and envision inside your own little noodle that you can start at Point A; blink two or three times and end up at Point Z. No. The things that happen, unforeseen and seen; trying to get reliable help (that was the BIGGEST complaint all small business owners made - not being able to get good help); there is NO successful business owner I have ever heard of who's business took off where they weren't working nearly 48 hours in a 24 hour period. We out here just see the finished result and think it's peanuts. No - those guys (and gals) WORKED - HARD. In other words...if I had $25K to start a business, I'd jump in full force - full time. I couldn't do it "part-time" much as we'd probably like to.  And I would work to adhere to the old African saying: "A good thing sells itself: a bad thing wants advertising." I've always felt that our Havana seegars fit that description to the tee!!   

[Duxnutz]

6 hours ago, Fuzz said:

No comment....

Dude I flew with into Sydney last week was telling me about his small business in Australia. Something about massage and red lights?

[ponfed]

4 hours ago, cigcars said:

    *I'm familiar with Jim Rohn, he was popular back in the '80's or earlier. I must say that it would be truly unrealistic to think you can handle your business only part-time. IF you are going to experience any kind of success at it...you are going to have to WORK LIKE A DOG. It's too easy to just sit back and envision inside your own little noodle that you can start at Point A; blink two or three times and end up at Point Z. No. The things that happen, unforeseen and seen; trying to get reliable help (that was the BIGGEST complaint all small business owners made - not being able to get good help); there is NO successful business owner I have ever heard of who's business took off where they weren't working nearly 48 hours in a 24 hour period. We out here just see the finished result and think it's peanuts. No - those guys (and gals) WORKED - HARD. In other words...if I had $25K to start a business, I'd jump in full force - full time. I couldn't do it "part-time" much as we'd probably like to.  And I would work to adhere to the old African saying: "A good thing sells itself: a bad thing wants advertising." I've always felt that our Havana seegars fit that description to the tee!!   

I kind of agree with you seriously, but unless you have another source of revenue, or at the very least a house already paid, your not gonna go far with 25k. 

Most types of small businesses won`t have any profit in the first year, even if it ends up successful. Anybody has the same idea?

[madandana]

Some sort of travel business. Maybe guiding or writing about it. I envy Rick Steves, his job is to travel.

[99call]

Why the need for the 25k? 

Best advice I've ever been given by the guy you trained me. "Don't buy the equipment, untill your 100% sure you've got the contract".   Ultimately it really depends if the business is selling a product or a skill. If its skills you don't need start up money.

[JoeyGunz]

I'd buy a converted / convert a shipping container into a pop-up kitchen / supper club.

[Colt45]

12 hours ago, El Presidente said:

If you had access to $25K to start a part time business tomorrow....what would it be? 

It's a secret, and I don't want you stealing it. Front me the cash and I'll let you know when I get to Tahiti set up.

[Derboesekoenig]

10 hours ago, El Presidente said:

Dream large, plan in detail. 

FOH  CCBB

Cigars, Coffee, Booze, bakery. + the best Cuban Sandwiches in the world. 

That would be too easy. Cubanos are so easy to make. Contract a local deli for meat and cheese, bread in-house, homemade pickles and a mustard aioli. Only problem is that I'd probably be eating them all 

[kwsaw63]

My childhood hobby was breeding tropical fish, so I’d start a tropical fish farm.

[Derboesekoenig]

10 hours ago, golf4less said:

Seven years ago I quit my job of 28 years and with one child in college and the other a junior in high school, I emptied our bank accounts and started a discount golf store. I had zero experience in retail but was tired of someone else being in control and reaping the benefits of my hard work. I just recently emptied the accounts again, maxed out a couple credit cards, and on October 1st. Opened my third location. I absolutely love working for myself and lord willing will be able to do this for many more years. 

This is very inspirational, thank you for sharing. I'd thought about starting a knockoff of TopGolf, but didn't want to be sued by them. If there was a way to do it and undercut them, you'd make a killing. Those places are always insanely packed. I think you need at least $1.5mil-$2.5mil capital just to get a TopGolf off the ground.

I've got the fact that I am single with no kids on my side. I want to start something, but the risks have been keeping me at bay. 

[hedgeybaby]

I would start a barbershop.  I have no interest in cutting men's hair myself but I have always wanted to open a barbershop. 

[JoeyBones777]

3 hours ago, Derboesekoenig said:

That would be too easy. Cubanos are so easy to make. Contract a local deli for meat and cheese, bread in-house, homemade pickles and a mustard aioli. Only problem is that I'd probably be eating them all 

You mean like this? Cubano I had on my lunch menu a couple years ago. I should bring it back. Fresh baked ciabatta, slow roasted pork belly, shaved country ham, house made pickles, Gruyere cheese and grainy mustard aioli.?

[Derboesekoenig]

1 hour ago, JoeyBones777 said:

You mean like this? Cubano I had on my lunch menu a couple years ago. I should bring it back. Fresh baked ciabatta, slow roasted pork belly, shaved country ham, house made pickles, Gruyere cheese and grainy mustard aioli.?

Yes that looks delicious. Making me hungry...

[MD Puffer]

Well I now know what's on the menu for dinner tonight...