deadlyapp
Diamond Member
- Apr 25, 2004
- 6,609
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If you are interested in a business, best thing to do is find something you like the idea of and get involved in some way to find out if it really interests you, and if you plan on treating it like a hobby or a side income. Once you've established that, you can generally find someone already established that might be willing to sell to you, or partner you in.I've thought about that a little....and it could be cool. I would have to raid my retirement savings for capital to do it though.... (and would incur pretty significant penalties as a result) I just don't have enough liquid assets because I've been geared for debt repayment and spent the last 7 years dealing with daycare bills. Maybe I can start saving up cash for that.
For the gym I opened, I found someone locally that was very motivated to sell and he ended up cutting a deal with me to pay monthly installments to purchase the assets. It was a win win for both of us as he was able to get out very easily and keep his current members happy, and it allowed me to buy in quickly without having to liquidate some of my personal assets (I was not very cash flush after buying a house and other things).