Offline Businesses?

[jonas33h]

I've been interested in starting an offline business but nothing offline seems that entertaining.

anyone have offline businesses that they enjoy?


I've always wanted to be a boob taster. . . .

or a spa of some sort. . .

Photographer. . .

barber. .. .

carpet cleaner. . . .

sanitation and roto-rooting. . . .

or a jeweler. . .

but seriously any interesting offline business going on?

 

[kingofsp]

You mean one where like you have to like put on pants and go outside?

I dunno, man. Sounds iffy.

 

[tomaszjot]

I assemble pens.

 

[Kiopa_Matt]

As much as I'd love to, just can't see myself doing it. Wait is too long, and generally, margins aren't big enough.

With online, it's possible to triple income within a couple months, whereas with an offline business, it'll generally take a couple years. Plus with online there's simply less resistance to the monies.

For a while, was thinking about seeing what I could do to open a Subway or Quiznos here though, if it's even possible. There's a couple McDonalds and KFCs in town, and they're both always busy. Plus a large university with 40,000 students, so was thinking if I managed to get a Subway on the university grounds somewhere, it'd probably make a good penny.

But alas, I'll stick with online. Easier, higher margins, and more freedom. I can travel whenever I want, versus being stuck in town so I can bitch at some supplier for screwing up my delivery, kinda thing.

 

[flaw3d]

Seems like an escort business would be it for you.

 

[Gambit]

I think I'll end up delving into Offline Businesses once the Online market dies down. Not exactly sure when that will be. I can picture myself running an offline business, but like it's been mentioned before, the returns and flexibility of an online business can't be beat right now.

 

[papajohn56]

As much as I'd love to, just can't see myself doing it. Wait is too long, and generally, margins aren't big enough.
.

If you can't find something high enough margin offline, you're doing it wrong.

 

[dchuk]

once the Online market dies down

lolwut

 

[Gambit]

lolwut

Haha I don't want to jinx it. I can see bills being passed that require businesses to fill out a shitload of paperwork and make IM a bitch to comply with. Big business doesn't like that they're losing revenue to us and are no doubt lobbying to box us out. IM just seems too good to last forever.

 

[guerilla]

Offline you need to have your shit together. Plus you have to deal with duties, taxes, regulations etc.

The internet is a libertarian quasi-free market paradise. Offline is a lot of red tape, insurance, licenses, applications, etc.

The best move I didn't make was take my online business offline.

That said, I really want to get into energy and commodity investment.

 

[papajohn56]

Offline you need to have your shit together. Plus you have to deal with duties, taxes, regulations etc.

The internet is a libertarian quasi-free market paradise. Offline is a lot of red tape, insurance, licenses, applications, etc.

The best move I didn't make was take my online business offline.

That said, I really want to get into energy and commodity investment.

There are ways to take advantage of all the red tape of course. It acts as a big barrier to entry - once you're past, you can do very well.

 

[faceblogger]

Offline you need to have your shit together. Plus you have to deal with duties, taxes, regulations etc.

The internet is a libertarian quasi-free market paradise. Offline is a lot of red tape, insurance, licenses, applications, etc.

The best move I didn't make was take my online business offline.

That said, I really want to get into energy and commodity investment.

So, are we safe from taxes in online business? I thought people are paying taxes for all of their Internet revenue (US based business).

I run my IM as non US based so I have no idea how IMers pay taxes to the US government.

 

[Paper_Chase]

Been doing IM full time for the past 5 years. I really enjoy it, but I realized I needed to do something more tangible. I actually wanna hold a product in my hand. This year I've been working on creating a new product and brand around it. I'm planning on launching in the next month. It is exciting doing something different.

 

[firestarter]

Offline is such a broad term. Are you interested in developing and manufacturing products, being a retailer or providing services? Each niche has different margins, competition levels and entry reqs. The higher the margins means usually the most competition. Very thorough market research is a must, if you get this wrong you'll be bust before the year ends. As guerilla mentioned, there will be different costs (salaries, rent, daily expend. and so on) you have to consider. To survive in competition you must have a strong USP. Growth rate for offline is usually a lot smaller, but it varies. In some niches knowing the right people is a must and achieving this will take time(BTDT).


Me: owner of a fire safety service business

 

[drave]

That said, I really want to get into energy and commodity investment.

if you haven't already, check out the book "trading day by day" by chick goslin. excellent resource, no hype.

 

[rish3]

I happened to turn an online into an online + brick and mortar combo. Takes some of the risk out. In my case, I have an e-commerce site that's focused on a specific niche. After a couple of years growth, I needed space anyway so that I could start stocking and selling some product myself versus drop shipping everything.

I found some retail space that wasn't much more expensive than warehouse space, which left the option open to sell locally. The majority of the sales are still online, but we're working on that.

 

[harrymouni]

once the Online market dies down

I think this whole Internet malarkey is here to stay.

I can't see why anyone would start an offline business when they've skills for online. I know some smart people with work ethics that put me to shame who are dying to get into the 'online' bidness, but are just lacking basic skills that we take for granted. Like uploading shit to FTP, that took a lot of explaining. Actually, maybe they aren't that smart! But they can work. These guys put in solid 60 hour weeks running shops, ordering stock, dealing with hassle and all for low margins. You'll be competing with these guys if you go offline.

And you don't to spread yourself too thin with your fingers in too many pies, recipe for disaster.

 

[Scalped]

These guys put in solid 60 hour weeks running shops, ordering stock, dealing with hassle and all for low margins. You'll be competing with these guys if you go offline.

And you don't to spread yourself too thin with your fingers in too many pies, recipe for disaster.

My girlfriend runs a local convenience store and does rather well. But i do agree the hours + hassle are major hickups.

She is in from 8am till 9pm everyday, except weekends.

Margins range from 25% to 50% on average.
Anything else she negotiates and gets imported she gets around 100% on it.
Small profits and relies on heavy stock turnover.

Suppliers fuck up and dont bring correct products = bad. happens more often than not.

Taxes, local rent, wages, accountants, security, electricity, unexpected bills (repairs, blablabla), inspections, fines....it all adds up, and thats before turning a profit.

But she is relentless, and does very well for herself. But little to no free time.

If she where to get bought out her stock value would be around 30k.

So you have a business that turnsover +300k/year gross profit, but net is around 20k.

On the other hand, a friend of mine own a few popular night clubs, both where i live and also in mainland spain. He works his ass of but is very rich.

Shops = low returns, relies on fast turnover.
Clubs = high returns, relies on fast turnover.

One mans meat is another mans poison.

my 2 pennies worth...

 

[wayn3]

So, are we safe from taxes in online business? I thought people are paying taxes for all of their Internet revenue (US based business).

I run my IM as non US based so I have no idea how IMers pay taxes to the US government.

they file income tax and the only reason they do is because theyre too lazy to go offshore. if america passes some stupid bill requiring your business to pay some kind of strictly targetted at online business kind of gayish tax, you just move your business location elsewhere. singapore will roll out the red carpet for you.

 

[guerilla]

There are ways to take advantage of all the red tape of course. It acts as a big barrier to entry - once you're past, you can do very well.

Of course, it's called fascism and I have moral issues with it.

if you haven't already, check out the book "trading day by day" by chick goslin. excellent resource, no hype.

Thanks but I meant investing, not trading. Unfortunately, Americans tend to confuse the two because of the way the fiat economy works.

So, are we safe from taxes in online business? I thought people are paying taxes for all of their Internet revenue (US based business).

You have to pay taxes but the internet doesn't have as many taxes or regulations, and it is much easier to structure things online so that your business has little overhead.

You gotta pay taxes, and I say that because we're not yet at the point where society at large sees taxes as theft. That's coming, but until then, the smart play is to keep your head down and minimize your liability "legally".