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$200,000 what business for success?

Discussion in 'Real Estate & Other Investments' started by ErrosionOfAccord, Aug 11, 2016.



  1. Zed

    Zed Size doesn't count! Midas Member

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    I hear that poop trucks are always in demand.
     
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  2. Zed

    Zed Size doesn't count! Midas Member

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    I hate dealing with people issues... but... get them right and things can be great... but I'm not the guy for that job.
     
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  3. ErrosionOfAccord

    ErrosionOfAccord #1 Global Warmer Gold Chaser Site Supporter ++

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    Kind of thinking along the lines of old folks services, but haven't pinned a specialty. Midlife people left long ago leaving their parents behind. Now those parents are advanced in age.
     
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  4. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    EA,

    Bought a house in good condition out of foreclosure. Went in and did some minor rehab.

    Found a renter that is a business that takes care of elderly and challenged persons, such as alzheimers and the like. They get state and fed dough for the rent and care of these persons. It requires licensing and other so there are some barriers to entry.

    Regardless, I get above market rent, with none of the hassle.
     
  5. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Lawn care & clean outs come to mind. Not a lot of scratch needed to get started. Not too much for advertising. And if you can do your own maintenance you're golden. You can also start out on a p/t basis, see how things go and then take it from there.
     
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  6. mayhem

    mayhem Silver Member Silver Miner Site Supporter

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    You just said xactly what I was going to suggest.
     
  7. Howdy

    Howdy Silver Member Silver Miner

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    What for? The numbers are all cooked anyway.
     
  8. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Odd jobs for seniors comes to mind - cleaning gutters, mowing, minor repairs.
    Grocery shopping - get a van and buy and deliver groceries to order.
    Build a client base then hire a young person to do it as you grow.
    Think what old people need and what you can do to fill those needs.
     
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  9. Uglytruth

    Uglytruth Gold Member Gold Chaser

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    #1 Your customer has to have disposable money.
    #2 If they don't have money they must use credit. That means you take a 3% hit with card companies right off the top.
     
  10. andial

    andial Sir Midas Member Site Supporter ++

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    Sanitarium.
     
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  11. smooth

    smooth Gold Member Gold Chaser

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    Whatever you do, incorporate cute little hippie chicks that make the sammiches in town. Not kidding.
    There is a little market/deli in town a guy carved out of an old building. Used a lot of barn wood to trim it out. Built tables benches and displays from reclaimed lumber. They sell high end groceries, beer on tap, latte's, fresh soup and sandwiches. Uses slogans like "real food from around here" always has local honeys, fruits, veggies and wines. People go after work to hang out and have a beer. Kids stop there after school for a $5 mocha. Then sit in the window looking sophisticated.
    I didn't think it would last six months. But they have been crushing it for several years now. Perfect location as well.
    Oh yeah, and they have cute little granola chicks that make the best sandwiches in town.
    [​IMG]
     
    Last edited: Aug 13, 2016
  12. BackwardsEngineeer

    BackwardsEngineeer If I weren't a snowflake, I'd have no luck at all Silver Miner

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    EA,
    We had a similar decision to make last fall when one of our long term holdings had blossomed and needed pruning. Debated long and hard over several business options, having owned several businesses in the past we have structure set up, accountant in place and experience to back it up. Looked at a number of options, some listed here, others including consulting services, property management, equipment leasing and medical equipment home services. After carefully waying our options, (bracing myself for all of heaven and earth to come down) we put the money in the market. We have owned and followed a Financial service Reit on and off for years CYS. Last January it fell to six bucks and we actually missed that bottom but bought more than your said amount at an average of $6.48. Using your amount 200k / 6.5 is around 30,500 shares. CYS just paid a .25 dividend would be around $7500 a quarter or $30,000 a year. Making life better is than since January the stock has risen to over $9 buck making my(your 200k, mine was a lot more) worth over 270k.... name a business you could have done that with

    Businesses are hard, I mean HARD to sell, having done it several times, we start our exit plan before we consider the purchase..... be very careful or you will be married to it and praying for a divorce....
     
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  13. ttazzman

    ttazzman Midas Member Midas Member Site Supporter

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    pet services is another growing sector in retail/service
     
  14. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    BE has a stellar point imho. Stellar
    Consider your exit plan.

    Here:
    Wife and I are very wary of paper.
    Wife is from Eastern Europe and knows the ordeal of showing up at the window after standing in line for an eon only to hear " would you like to OPEN an account ? "
    ...." ummmm....no, heres my book, we wanna withdraw "
    Repeat above two phrases three times and make a mental image..." poof " gone
    I have also been burned to the core in 2006 by paper.
    Its just not our bag.
    Not so with tangibles. At least you have the land if TSHTF. ( yeah, yeah, i know the other stuff....taxes, condemnation...etc etc... )

    Currently buying a couple of " micro" houses.
    1000 sq ft. People need and want a place to live.
    Gross return is .8 to 1 % of the purchase price per month.
    We search for a complete rehabbed ones.
    As in NO fixup 'cept maybe some caulk.
    Mixed neighborhoods. Certainly no gated stuff.
    Near here the state college bought 2 auto dealerships next door to reno into class campuses. Across the street they are building 3 , 6 or 7 story building to process the hospital medical invoices. Not eveyone wants to live in the apartments they are also throwing up. These places are within 2 miles of that.
    Have a simple spreadsheet to put known costs on it to cypher the net.
    Also have a spreadsheet where for 20 years I tracked my moms properties that dad acquired in the 70s and early 80s.
    Same return and net was 6, 7, 8 % per year. Sometimes more, sometimes less in the later years where deferred maintenance caught up.
    Properties need maintenance ( silver tarnishes is how i see it ) and you gotta keep it up.
    BUT in the end you will get your $ back, as in exit strategy. We are currently shooting at +- 100 months.
    5 to 10 years. Then regroup.
    Note: Today we signed up a bull dog contracted lroperty manager firm. Only reason is because they will toss a renter wayyyy before I will.
    I have the tee shirt AND the merit badge from trying to " work with " a family with a special needs kid who lived in my partnered rental in the 80s. The place was way nicer than mine and still....putting a family out on the street aint easy. Not to mention a kid in the wheelchair.
    But guess what ? They got along and it was part of the spiel. Property manager imho is worth the cut.
    Thats just me as i have another 25 year buddy with 15 units anx he does it ALL himself.

    Laundromat, time is gone IMHO. Debit cards.
    Cash advantage is gone.
    Gotta "think millineal" as Scorp says above.
    Theres the future.

    People rent to own washers and dryers for a pittance and they sell them at 0% and on craigslist
    like mad.
    Electricity costs and water treatment fees are way higher making those laundry set ups not sexy to me anymore.

    Ive looked at franchises out the ass. You wind up buying a job.

    Car wash. Other stuff.
    Its ok but you better have your shit together in a BIG way. Not for everyone.
    Theres a shop next to ours. Big car wash guys. Know what they do most ? Sell the supplies, soaps etc, to the people who have invested in the washer and the real estate they have set them up with. Theres the %

    The wife and I have a small Ebay business shes trying to mess with and I flip some autos. Speaking of which....theres another one...parts....motorcycles, higher line, collectibles. Theres a ton of money in parts cuz theres a ton of MILLINEALS into that stuff.

    Great thread, been wanting to reply but been on the road.

    You name it. Tons of ideas everywhere.
    This thread could get long if some others would chime in.

    Regards to all,
    On small ass smart phone sorry for typos....
     
  15. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    I have a buddy, age 63 or so who has had one of these self performing type lawn for about 20 years. Hes an ex GC superintendent from Pittsburg.
    He has about 200 clients. Busts his ass and he does about 200k a year or so gross.
    Keeps his blades sharp and has 2 or 3 guys busy.
    Lol...bitches about their work ethic constantly.
    But some days he hits 35 or 40 yards.
    He gets ALL kinds of requests for extra and side cash work.
    Turns nothing down except for some of the stuff the older single ladies suggest. :) Hes a hoot.
    Point is,
    He answers to no one, enjoys the outside, and he feels fantastic about being a service provider.
    Good dude and good gig if you are up for it.
     
  16. davycoppitt

    davycoppitt Seeker Seeker

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    An HVAC business would be very easy to start. The industry is in such demand right now and it's only getting worse. 60 percent of the guys in HVAC will be retired in 10 years. Also with HVAC guys there is so much side work out there. The common hourly charge for side work is 100 an hour. I don't look for side work and only help friends, but if I ever want it I can find it without any worry. The company I work for as well as all my friends cannot keep up with the work load. I have friends putting in 75-100 hour weeks. For young guys out there commercial HVAC pipefitters are bringing in 100-200k a year At least in MN they are.

    I was talking with a retired couple. They go to all sorts of fairs/ motorcycle shows and sell cheap sunglasses. I guess they clean house when it's hot and sunny out. Nobody bats an eye at paying 10 a pair and they sell tons of them. The wife and I talked about trying this next summer just for fun.

    Last week I was fixing a A/c at a rental property. I meet the owner there. It was an old building. The bottom was rented out to a hair salon, flower shop, and Asian restaraunt. The top was all rented out as one room offices. Each office was for a psychiatrists. They rented a room which was where they meet with their patients. The owner said he gets virtually no problem from them and makes a killing on those rooms. He had about 15-17 rooms up there.

    Installing radon systems is good money. Fairly easy to do and doesn't take too long once you do a few. Going rate is $1200 on up.

    Allot of the oldtimers who have master boiler licenses will be retiring soon. I'm going for mine when I can. Then you can always just whore your license out for a chunk of change.
     
    Last edited: Aug 13, 2016
  17. Ishkabibble

    Ishkabibble Gold Member Gold Chaser

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    This year, non-store retailers hit 10.4% of total retail volume. Most non-store retailers are online establishments. YoY and Y02Y sales are flat, or down if you adjust for inflation. On a per-capita basis, sales are actually falling because potential buyers lack capital. Consider what this means for brick and mortar establishments.

    The bulk of a business' income goes to pay for merchandise, land costs, energy expenses, labor costs, signage, advertising, and many relatively fixed expenses. The cream... the top percentage of sales... that's where profit is extracted. Thus, a business can be buried by a decrease in sales of only a few percent. That's what b&m stores face today. They've already cut merchandise carrying costs to the minimum using JiT, and they're thinning staff and closing stores as well. There'll soon be little left to cut. As those b&m stores fail or close locations, their low paid employees become no paid employees. They cease to be effective customers. As the consumer base shrinks, the service based industry is forced to downsize as well. Some call this a doom spiral. The nation is in the thick of it.

    Nations generate wealth through productivity. For decades, the US has been redistributing the wealth its productive citizens earned many decades ago. The net effect is negative. Sans sufficient resource based activity, wealth of the nation will continue to decrease. This is a big deal in an economy that's based 70% on services. Services are a form of wealth redistribution, and they falter when there isn't enough remaining wealth to circulate.

    We often discuss how credit presently drives sales but is a stalled economic engine. We live in a credit based economy because there's been too little wealth to circulate for a long time now.

    I think we're in for a nasty downturn. I'm going to be blunt. I wouldn't be investing in any B&M location unless it delivered essential services that cannot be outsourced, and even then I'd be leery. Most new businesses will be reliant on US incomes, and US incomes are 70% based on redistribution of a shrinking pie... and by shrinking I mean borrowed to the hilt... there's really not any pie at all.

    The US will have to redefine itself as a producer; it will have to shift from wealth distribution to wealth generation before it'll see a full fledged recovery. That's no small change. The risk/reward scenario of a new business doesn't play out in my mind. I'd tread very VERY lightly. There will come a time, but I don't believe this is it.

    PS... And have a nice day? :p
     
  18. Uglytruth

    Uglytruth Gold Member Gold Chaser

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    Well said guys. Lots of great info.

    Great point and why some parts of the country are doing better than others and the rest surviving on debt.


    Seems the question is......... "What business do you go into when all your customers are broke?"
     
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  19. Montecristo

    Montecristo Silver Member Silver Miner

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    Pawn shops tend to due well in almost all economies. The big key factor is the max that your state will allow for interest charges. Most shops in states where the gov has kept a lid on allowable interest charges tend to pile on fees. Processing fees, storage fees whatever they can think of that sounds reasonable.

    The other big drawback is pawnshops tend to get stuck with a lot of electronics that deprecaite quickly. That 45" LED flat screen was the bomb 2 years ago, now they are selling them at Wal-Mart for $299. Tools used to be a money maker and good tools or construction equipment were good pawns, but now with all the cheap Chinese tools in the market, even the good stuff doesn't carry a premium.

    Not to mention the hassle from the local cops. It costs you if you try to be friendly and treat them with respect and it costs you if you treat them with hostility. You can't win with them and they have the power to make things extremely dificult for you.

    If you're going into pawn, you're going to need more then 200k. The good shops have a big, big bank roll and aren't really interested in loaning on 3 yr old HP lap top or a roofing gun. They want cars, houses, boats, Rolex's.....that's where the money is, it's in the items the small shops can;t afford.
     
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  20. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    I heard this past week that the US has a huge disparity of retail sq ft vs other countries, ie much much larger.

    Now you tell me, do we have too much retail or is there room for more?

    With the advent of online, and the realization of this fact, Macys is closing some profitable stores to get ahead of the trend. They want to cull before it is too late and they have to deal with massive losses doing so.
     
    Last edited: Aug 13, 2016
  21. Scorpio

    Scorpio Скорпион Founding Member Board Elder Site Mgr Site Supporter ++

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    This is from Sept 2014

    Where have all the shoppers gone?

    September 3, 2014, 12:00 PM EDT
    [​IMG]
    Illustration by Adam Simpson for Fortune
    Retailers both big and small continue to disappoint Wall Street. Here’s what’s wrong, and how to fix it.


    Something has gone missing in American commerce. The passion for outsize consumption that helped drive the world’s largest economy for decades—one nation, indivisibly united by an addiction to malls, supercenters, and retail therapy—appears to have waned. After years of slow to stagnant growth, some experts worry that the entire retail sector is now shifting into a fundamental decline. Could the long American love affair with shopping finally be on the rocks? “I talk to retail executives every day in this country, big, medium, and small,” says Robin Lewis, an industry expert and the author of the widely followed The Robin Report, “and they all say things are damn slow.”

    Damn slow, indeed. At a time of year when U.S. retailers should be riding the annual wave of back-to-school spending and gearing up for the bonanza of the ever-expanding holiday season, they are instead gloomily explaining continued lackluster results to Wall Street. Companies from Target to Kohl’s to Coach have reported disappointing sales for several quarters running. Wal-Mart, the world’s largest retailer, with $279 billion in sales in the U.S. alone, has seen a drop in store traffic in each of the past seven quarters. Once-shining brands such as Staples and Abercrombie & Fitch are closing stores—a reversal from the “build it and they will come” mentality that formerly served as a strategy. Even Apple, the king of sales per square foot, has seen a decline in same-store sales this year, according to Customer Growth Partners. Overall, according to eMarketer, retail spending in stores is expected to grow just 3.7% in 2014—a fairly anemic rate some five years past the depths of the Great Recession. No wonder Kip Tindell, CEO of the Container Store, while reporting yet another quarter of poor numbers in early July, complained that the retail business was in a “funk.”

    What are the reasons for this malaise? Industry analysts and executives describe a perfect storm fueled by an unfettered addiction to promotions and discounts, continued economic instability, and the fact that there is simply too much store space for the current population. The result, says Mark Cohen, director of retail studies at Columbia University and former CEO of Sears Canada, will be a “Darwinian struggle for survival,” which may ultimately take down some of the best-known brands. Yes, e-commerce continues to grow rapidly, now accounting for an estimated 6.4% of sales, or $304 billion in 2014. But the bigger e-commerce gets, the more it is disrupting the industry as we know it.

    There are, of course, winners as well as losers in this new world—not only the obvious online powers, such as Amazon, which continue to siphon off market share, but also more traditional brick-and-mortar plays like Dollar General and T.J. Maxx. And there are lessons in those success stories. U.S. shoppers haven’t gone away altogether. But there is a “sea change in how people are shopping,” says Daniel Busch, an analyst with real estate analysis firm Green Street Advisors. Retailers must change dramatically to reach future customers. To better understand how the business is evolving, we identified four major (and interrelated) trends that are roiling retail—as well as possible solutions to each.

    PROBLEM NO. 1: Death by Discount
    It’s the oldest strategy in merchandising: offering shoppers an artificial price lower than “retail” to spur our primal desire for landing bargains. But over the past decade, say analysts, things have gotten way, way out of control. Virtually every retailer—at both the high and the low end—has fallen so deeply into the trap that discounting has become an expectation of customers rather than a bonus. “There’s price deflation caused by ever-increasing discounts and price competition, which lowers the average transaction value,” says Columbia University’s Cohen. “That means you have to sell more things just to stay even.” This phenomenon has been spurred in recent years by the ability of shoppers to “showroom,” or compare prices on the web.

    The most obvious beneficiaries of the discount trend are the off-price retailers, which sell designer fashion and home goods at lower prices than customers typically find at department or specialty stores. A star pupil in this class is TJX, which runs the T.J. Maxx and Marshalls chains and is likely to overtake Macy’s in revenue this year. There are now about 2,000 T.J. Maxx and Marshalls stores, compared with 1,680 just five years ago.

    [​IMG]Sources: International Council of Shopping Centers; Company Filings

    In an attempt to win back some share, the department stores that the off-price chains have squeezed are getting in on the action. Saks Fifth Avenue, a part of Canadian retail conglomerate Hudson’s Bay Co., now operates 39 department stores—compared with 53 five years ago—but has boosted the number of its OFF 5th outlet stores from 55 to 75 over the same period. And Nordstrom, long known for its high-end quality, expects that by 2016 it will have twice as many Nordstrom Rack outlets as full-service department stores.

    While mall traffic overall continues to fall—some 15% of malls are expected to close or convert to other uses in the next decade, according to Green Street—outlet malls are booming. According to the International Council of Shopping Centers, there are now 340 outlet centers in the U.S., up from 311 in 2007. Developers like Tanger Factory Outlet Centers and Simon Property Group say they have plans to build many more in the coming years. That will only exacerbate the downward pressure.

    SOLUTION: End the Race to the Bottom
    Finding a way out of the discount trap has been elusive. The most daring attempt to do so—former J.C. Penney CEO Ron Johnson’s decision in 2012 to abruptly end most sale pricing in favor of “everyday low pricing”—was an unmitigated disaster. Johnson, who uncovered the shocking statistic that 72% of Penney’s products were sold at 50% off or more, sought to do away with what he called “the disease.” There was just one problem: If you’re the only one trying to change things, it doesn’t work. In the first year of Johnson’s experiment, Penney’s revenues dropped by a stunning $4.3 billion. Those sales were eagerly scooped up by the likes of Macy’s and Kohl’s, who responded to Johnson’s move with—you guessed it—even more discounting. Macy’s recently lowered its 2014 sales forecast, and Kohl’s is struggling to post consistent gains. Johnson, who was forced out in 2013, may have failed on execution. But the big retailers would be wise to study his analysis of the discount dilemma.

    At least one expert sees a “Darwinian struggle for survival,” which may ultimately take down some of the best-known brands.

    PROBLEM NO. 2: Too Much Space
    Who would ever have imagined the decline of the supercenter? For much of the past three decades it was a no-fail concept. Pick a location with cheap real estate and a large nearby population, build a giant box with a vast supply of shelf space, and wait for the shoppers to show up in droves. Wal-Mart rode the supercenter strategy to No. 1 on the Fortune 500. Target and Best Buy followed suit and blossomed as well. But the era of megastore dominance may be coming to an end.

    A big reason is that today the U.S. has far too much shopping square footage for its population—52.4 square feet per capita, compared with, for example, 16.4 square feet in Germany, according to data from research firm CoStar and the International Council of Shopping Centers. It’s not just supercenters either. The number of shopping centers with more than 50,000 square feet in the U.S. has doubled in the past 30 years, though growth has flattened recently. The first principle of U.S. retail has seemingly always been “more and bigger.” But given the ease of buying anything from a stapler to a toilet online, a continually growing footprint only adds up to empty parking lots.

    SOLUTION: Shrink to Grow
    Home Depot CEO Frank Blake recognized the square-footage dilemma earlier than most. When he decided in 2008 to stop opening new stores (with exceptions for certain demographically shifting areas, such as North Dakota), most analysts and employees alike thought he was nuts. Wasn’t the point of any public company to actively grow its business? “It was the right decision for us,” Blake says, “but it was painful. All the muscle memory in the organization was around building new stores.” Instead, Home Depot has invested that capital in both improving its existing stores and in building a better online presence. Under Blake, who is stepping down Nov. 1 after seven years in the job, Home Depot’s stock doubled, showing Wall Street that there may be another way to think about growth.

    Other retailers are slowly getting the message. Two years ago Gap returned to same-store sales growth after closing dozens of U.S. stores. And growth in store counts at the 100 largest retailers by revenue has slowed to less than 3% from more than 12% three years ago, according to a recent Moody’s report.

    [​IMG]Target’s has seen its comp numbers fall in six of the past seven quarters.Scott Olson—Getty Images

    PROBLEM NO. 3: The Nonrecovery Recovery
    It should surprise no one that lower-income shoppers continue to be price-sensitive. Why? The economy, stupid. Yes, the U.S. is growing again after the trauma of the Great Recession. But not everyone is feeling it. The bottom 20% of Americans in terms of income saw their real income grow only 19.5% between 1967 and 2012, while the top 5% earned 88% more. What’s more, the way people use their disposable income has changed. For instance, think about the “smartphone effect.” With $100 or more per month going to service plans, apps, and music, consumers have less money for a new pair of shoes.

    Those economic trends help explain the ongoing stagnation at the likes of Target, which posted negative comparable sales for 2013 and has followed that up with two worrisome quarters this year. Not only are there too many big-box stores (see problem No. 2), but they are also mostly located in places that require a long drive—an increasingly troublesome proposition in an era of high gas prices and food-stamp-benefit cuts.

    SOLUTION: Assume This Is the New Normal
    A morose economy has been a boon to Dollar General. Over the past five years the ultra-discount retailer has opened 2,500 new stores (for a total of 11,388), while its same-store sales have risen consistently. It succeeds by being hyper-local with fixed, low prices. Most of its stores are in municipalities with fewer than 20,000 people, and many are within walking distance of population centers.

    Much of the rest of the retail world, meanwhile, spent precious time waiting for customers to come back to them. Few are counting on that anymore. Wal-Mart, for instance, is now trying to counteract the success of Dollar General and other dollar-store chains by speeding up the rollout of its own small-format stores in population-dense locations: Its goal is to have 700 by February, compared with around 400 at the beginning of 2014.

    In an environment of perpetually yo-yoing consumer confidence, retailers must either win clearly on price and convenience, or wow shoppers with such an innovative product or unique buying experience that they can’t help opening their wallets. That leads us to…

    PROBLEM NO. 4: Stunted Evolution
    If any single trend in retail is crystal clear, it’s this: Online sales will continue to boom. E-commerce sales should leap 61% by 2018, according to eMarketer, reaching $491.5 billion. Brick-and-mortar sales, still a vastly larger number, are expected to grow a decidedly more modest 12.8% to about $5 trillion, from $4.43 trillion, over the same period.

    Adapting to this brave new world has proved difficult for many in the sector. While virtually every retailer participates in online sales, not all do it well. And the long tail enabled by the web means that a growing portion of overall sales is going to retailers with no physical stores. The digital experience is changing shopping habits in other ways too. Even when customers do choose to purchase items in a store, they frequently do research online first and then go straight for the item without stopping to browse. That reduces spontaneous purchases and harms retailers without great inventory controls.

    [​IMG]Graphic Source: eMarketer, April 2014

    SOLUTION: Blend the Old With the New
    Malls are particularly vulnerable to the ease of online shopping. Busch of Green Street Advisors estimates that about 15% of items typically stocked in malls are now regularly purchased online. Some mall operators have grasped that reality, investing in their “A” malls, which cater to the high end, and adding new features and services such as gyms and wine bars. “You can’t have a salad and a glass of wine online,” says Michael Glimcher, CEO of mall REIT Glimcher Realty Trust.

    That’s the right idea. To thrive in an online world, retailers must enhance the excitement of the physical shopping experience while at the same time smothering customers with convenience. Happily, some major chains have lately been making better use of the very asset naysayers say condemns them to irrelevance: their stores. For instance, Wal-Mart’s online business is now growing faster than Amazon’s, thanks to big investments it has made to enable customers to place orders online and pick them up in many of the 3,300 or so Wal-Mart supercenters that dot the country. And Macy’s uses most of its 810 stores to help it fill e-commerce orders more quickly and not have to move as much unsold, extra merchandise on clearance. Getting better at this “omnichannel” approach is essential for any retailer planning to succeed with physical stores.

    Is there hope yet for U.S. retail? Only if retailers themselves understand that the classic assumptions about the way people shop are no longer valid. “People haven’t stopped wanting things, and they won’t stop wanting things,” Cohen says. “The economy will eventually repair itself. But where are they going to transact? That is the question.”

    This story is from the September 22, 2014 issue of Fortune.

    http://fortune.com/2014/09/03/where-have-all-the-shoppers-gone/
     
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  22. stonedywankanobe

    stonedywankanobe Gold Member Gold Chaser

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    Down here these guys with the automated bulk ice machines in prime locations are cleaning up in this scorching heat.
    Not saying it would be a sure winner in your neck of the woods but I am saying im headed to get a couple bags right meow.
     
  23. Zed

    Zed Size doesn't count! Midas Member

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    Local government are typically very business friendly here. They will tell you most of what they know and try make sure you succeed, it is in their interest. Failing that local business associations can be a good place to kick off, chamber of commerce etc.

    Only the Feds need to lie, locals have to live with you and want great outcomes.
     
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  24. ErrosionOfAccord

    ErrosionOfAccord #1 Global Warmer Gold Chaser Site Supporter ++

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    I think scorps article says it all. I don't go to Wally World anymore. Rarely anyway, I get better selection and quality with Amazon Prime. Retail is good for guns and clothes IMHO and, that is about it. The car manufacturers would do well to go online as well but I can see where the dealerships would bring in the lawyers. Not a fan of resturant and bars either. Though, I do find it funny that a town of 30,000 out west supports four or five coffee stops and this place has none.

    I wonder about the handyman franchises. What could be the benefits in the franchise? Advertising? I've never seen any. I've never been worth a damn at sales.

    Location, location, location or advertising, advertising, advertising? I suppose it depends on the biz you choose.

    Rentals and whatnot would not provide an income sizable enough to live on. Therefore, I believe my solution will have to provide a wage type of profit.

    Quickie lube/cafe/coffee/laundry mat with wifi and tvs like one of those damned man salons. Concept being to make places you hate to go synonymous with a comfortable place to relax eat and spend on an overpriced coffee... Scratch the laundrymat. I would probably have to kill untended children and that is generally frowned upon, even in southern Ohio.

    Having sat in a cab with my own demented thoughts for the past 28 years knowing little more than production, production, production has probably stifled my creative and personal skills. Thank you all for the replies, definitely puts some meat on the skeleton but nothing is jumping out at me so far.
     
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  25. Zed

    Zed Size doesn't count! Midas Member

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    FWIW IMO a good coffee shop could go well. I have to say that in my travels in the US I have found very few good coffee shops. Boston/NY seemed to be the best offerings. In Melbourne the standard is high and competition is fierce but if you get it right it pays quite well. Not my idea of fun but maybe you'd have no real competition, come to Melbourne and tour the Cafe scene... or where ever... some good inspiration to be found.
     
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  26. REO 54

    REO 54 Midas Member Midas Member

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    Waste water industry is huge. Bottled water is now out doing pop sales.

    An old saying I learned from someone wiser than me. Came from the 1920's era I belive......

    "If you want to live with the masses work for the classes. If you want to live with the classes work for the masses."

    It's about the volume & scale of a thing.

    7 billion people is a lot. What do they all have in common? We all need water and we poop.
     
  27. Goldhedge

    Goldhedge Moderator Site Mgr Site Supporter

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    The best business is buy a couple 3 or 4 acres of land.

    Fence it in and charge folks to store their RVs and boats etc.

    Low overhead. Monthly income. Don't have to "sit there" watching it.

    Could also build an "inside storage" building for folks who wanted a covered storage space.
     
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  28. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    Boat & RV storage is a good one. Also you could have a shop for those that want repairs say over the winter. You could hire a mechanic - boat guy or even rent him the shop.
    Seen a few in Kentucky, they seem full.
     
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  29. andial

    andial Sir Midas Member Site Supporter ++

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    Pet embalming.
     
  30. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    My favorite, I even did a paper on it in a business class my junior year at University, is a hot dog stand or cart.
    The best way to make money is:
    Keep labor costs low - either do it yourself or have your kids work, or hire kids [cash?].
    Small and mobile - you can move to a new area if business is slow, move to events, even a big fire for example, sell to spectators cops and firemen. Maybe set up on weekends at abandoned gas stations on well traveled roads. Give free food to cops.
    Cash preferred - you can take cards but add the transaction fee to prices. Cash is king for many reasons.
    Keep the menu limited - less stock hassle, easier to train workers. Say hot dogs, Polish & Italian sausage.
    Buy at least some of your stock using cash and no transaction record, for obvious reasons.
    Start with various packaged chips, but as business grows consider a fryer to make french fries. Nothing like a great hot dog wrapped in wax paper with a handful of fresh french fries.
    Just some tips. If I needed money right now, this is what I would do. Minimal investment even if you buy a brand new tow able cart.
     
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  31. andial

    andial Sir Midas Member Site Supporter ++

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    Kindly disagree gringott hot dog stands are getting knocked off all the time.
     
  32. oldgaranddad

    oldgaranddad Gold Member Gold Chaser Site Supporter ++

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    Whatever business you choose, once you have chosen it then turn the tables on it. Think of ways some community activist, government official, zoning board, etc. can cause you grief and money. Then see if your business plan can negate such possibilities. If you can, go for it otherwise go back to the drawing board and pick something else.
     
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  33. andial

    andial Sir Midas Member Site Supporter ++

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    Yes you are setting yourself up to be raped by the government when doing this is why I originally liked the church angle, they're playing checkers so we have to play chess.
     
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  34. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Ordained Minister - strictly p/t

    - totally legal
    - low start up costs
    - you could specialize (weddings, baptisms, funerals, pet blessing, pet funerals)
     
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  35. Silver

    Silver Gold Member Gold Chaser

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    Pet cemetery with perpetual care - little to no regulation.
     
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  36. andial

    andial Sir Midas Member Site Supporter ++

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    Like it!
    I would specialize in "End Times" predicting, people eat that stuff up.
     
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  37. Hystckndle

    Hystckndle Daguerreotype Fanatic Site Mgr Site Supporter ++

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    Looked at a hot dog stand set up. Tow behind.
    Also:
    Take your cart every day to the inspector
    All munis are dif. though. May be less frequent.
    Bid for or pay the lease on the space.
    Muni is both sometimes.
    They see these and food trucks as a revenue target.
    Less and less and less and less ( did i say less )
    people carry any cash whatsoever.
    Therefore, pay the % plastic transaction fees
    and its now traceable.
    In 15 years. Costco is still $ 1.60 for a dog and a coke.
    Condiments free. Close to it that price at Sams etc.
    People get that cheapasaurus junk imbedded in their heads.
    Yeah...I waved that one off some time ago here.
    I was depressed.
    Im telling ya.....
    Times have changed on this cash business things.
    YMMV though.
    I really wanted to do it too.
     
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  38. Ragnarok

    Ragnarok I'd rather be Midas Member

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    Robot maintenance?
    Gotta keep those fast food servers working!

    R.
     
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  39. searcher

    searcher Mother Lode Found Site Supporter ++ Mother Lode

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    Looked into it several years ago. Here's a few rules / regs in Philly:
    http://www.phila.gov/health/pdfs/Mobile_Vending.pdf
     
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  40. gringott

    gringott Killed then Resurrected Midas Member Site Supporter

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    You can't get there from here.
    I checked it here in my county, if you stay out of the "city": business license.
     

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