Recession proof, brick & mortar businessness- liquor store, hair cutting?

Don't buy a franchise unless you want to spent the rest of your life dealing with it. - Told to me by someone who owns a McDonalds. Apparently it's a huge headache and a ton of work, and essentially ties you up so you can't really do other stuff in life investing wise because it takes too much damn time.

Look into real estate. Maybe rental properties.
 


Unabomber said:
Owning a franchise is still an entrepreneur, but I hear your point..:)

well maybe not.
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No its not. You are required to buy all your product from approved distributors, you can't market the way you want, you can't set your own prices - I could go on but I won't bother. Owning a franchise is essentially a management position. Corporate lets you run their store - that ain't being an entrepreneur.
 
Unarmed Gunman said:
No its not. You are required to buy all your product from approved distributors, you can't market the way you want, you can't set your own prices - I could go on but I won't bother. Owning a franchise is essentially a management position. Corporate lets you run their store - that ain't being an entrepreneur.
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I hear where you are coming from. There are lots of definitions of entrepreneur. Would I be personally fulfilled if all I did was own a bunch of franchises? No, probably not. There's little to no room for innovation. But owning a franchise is still operating a business and most importantly, assuming and managing risk. Managers don't take on financial risk.
 
Franchises suck, besides to get a Mc D's franchise you need to have a net worth of atleast $10m last I checked (10 years ago).

My Aunt owns a liquor store/gas station. She's a multimillionaire, she tells me all the money she made came from the liquor store, not the gas station. She always says her customers will come in and buy liquor before they pay the rent. She can count on that money every Friday, rain or shine. She's in a rural area and doesn't have to worry about Wal-Mart, so YMMV.

Hair salons sound great, but if you aren't there everyday a lot of your stylists will steal your customers. "Psssttt.... I'm off on Monday and Tuesday, if you want to come to my home I'll do this for half price." They'll steal your supplies to do it aswell. You have to be there, or have a manager that is on top of shit (ie paid well).

Bars and laundry mats do well in college towns. There's a business in my town (college town) that combines the bar with the laundry mat. It's an odd combo but wildly popular. They provide free wifi, a smoking bar, and a clean, smoke free laundry area. They charge 3X what all the other laundry mats in town charge, and do twice the business.
 
cheshire said:
Bars and laundry mats do well in college towns. There's a business in my town (college town) that combines the bar with the laundry mat. It's an odd combo but wildly popular. They provide free wifi, a smoking bar, and a clean, smoke free laundry area. They charge 3X what all the other laundry mats in town charge, and do twice the business.
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Now that is an awesome idea. Nobody wants to sit around watching their clothes dry, but people are scared to leave their shit. Go have a seat at the bar while you're waiting...I like that.
 
galacon said:
My Brother-in-law has 7 McD's stores in Indiana now, and believe me, you won't even get CLOSE to one for less than a Mil.

And One store...you starve to death. Two? You break even or make a bit, and that's IF your wife, kids, and every other bit of free help you can find mans them for you.

At 4-5 stores is when you start to cash in. And if you fail? Simple- you never hear of that because corporate takes them over, installs management, and runs them until they can find another dreamer to take a flyer, or pawns them off on an established guy.

McD's is a HARD business, mateys- but if you can last, it can be massive. Not for the weak hearted or undercapitalized, though ;)
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I heard each mcdonalds makes around 250k a year, so 4 equals 1 million a year, or is that before deductions?

Also is his McDonald near me in NW Indiana, Merriville, Dyer, Highland?
 
Unarmed Gunman said:
Now that is an awesome idea. Nobody wants to sit around watching their clothes dry, but people are scared to leave their shit. Go have a seat at the bar while you're waiting...I like that.
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It does well here. The laundry mat closes at 10pm but the bar stays open until 2am. I see many people finish their laundry and go back in for another beer because they're having so much fun. It's called "Soap and Suds"
 
Booze baby booze, a good bar with attractive bar tenders and a decent location with active promotion and local clientele!
 
cheshire said:
Franchises suck, besides to get a Mc D's franchise you need to have a net worth of atleast $10m last I checked (10 years ago).

My Aunt owns a liquor store/gas station. She's a multimillionaire, she tells me all the money she made came from the liquor store, not the gas station. She always says her customers will come in and buy liquor before they pay the rent. She can count on that money every Friday, rain or shine. She's in a rural area and doesn't have to worry about Wal-Mart, so YMMV.

Hair salons sound great, but if you aren't there everyday a lot of your stylists will steal your customers. "Psssttt.... I'm off on Monday and Tuesday, if you want to come to my home I'll do this for half price." They'll steal your supplies to do it aswell. You have to be there, or have a manager that is on top of shit (ie paid well).

Bars and laundry mats do well in college towns. There's a business in my town (college town) that combines the bar with the laundry mat. It's an odd combo but wildly popular. They provide free wifi, a smoking bar, and a clean, smoke free laundry area. They charge 3X what all the other
laundry mats in town charge, and do twice the business.
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You know what, I was OUT in owning a bar until you reminded me of bars near Campus.

Those bars are always full, and actually less violent than the bars in downtown Minneapolis.

OR a bar near campus anywhere for that matter.
 
I know a popular one here does an easy $30k a night profit. The owner is a good friend. Not to mention the fringe benefits like Budweiser takes them out on their "party Yacht" during the summer season as a thank you for buying so much beer. Topless girls and alcohol everywhere on that boat.
 
BeerNuts said:
Tow trucks, you get $120 per car AT LEAST plus its a cash only business.
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+1 on this.

Especially if you can get contracts with universities or bigger apartment complexes. I spoke with a few tow truck company owners, they pay their drivers xx% of the tow, normally charge $200 per car + $20-$50 per night the car sits on their lot. An average night is 8-10 tows. If you can get yourself a cheap piece of land as a "lot" and pickup a few trucks, you could make your money back relatively quickly.
 
jpet1010 said:
+1 on this.

...... If you can get yourself a cheap piece of land as a "lot" and pickup a few trucks, you could make your money back relatively quickly.
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Yah ! Especially if you want to be a TOW TRUCK DRIVER. Nonetheless, inspirational & entrepreneurial , "sir"! If affiliate marketing fails me I know my backup can be more than just career-waitress @ ihop. :angel: You enjoy your weekend now towing trocks.
 
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