Business Ideas for $300,000

[Shunpike]

What type of a business would you start up if you had $300,000.

I wish I had the money but it is not me. My friend has been laid off and he is looking for a job in Finance. On the other hand he has around $300,000 in funds and looking for business opportunities.

Asked my advice

I told him to open up a Long Term Storage place but he didn't like the idea.

IF you had $300,000 and if you were in your mid thirties, what type of a business would you consider setting up.

Let the fun begin.

 

[1LoyalCowboyFan]

I would get in to commodity trading. For example honey and pepper. Hard part is finding a buyer and quality control. But if you can find a reliant supplier over seas with quality product and find a buyer here in the states you can make a killing. You will need to send samples before hand otherwise if shipment arrives and lets say honey has crystallized they won't buy and it'll be a pain deciding what to do with it.

Friends dad started 25 years ago trading grain on a credit card with a $5000 limit. He is very well of now although its a 24hr job. Best of luck on whatever you decide.

 

[jobberone]

What's it cost to start a McDonalds now; or other profitable chain?

 

[kapolani]

Move to Colorado and open a ganja plantation.

Doesn't sound too bad.

 

[WoodysGirl]

I already have a side business, so it would allow me to really focus on growing that business.

That said, I'd probably also open a fast food franchise. I worked at fast food joints my whole teen life and bad food will never go out of style. Subway, at one point, would've been an affordable franchise, but now I'm not so sure. Sonic and Chik Fil-As are probably the most popular franchises right now. They're popping up everywhere.

 

[Shunpike]

Thanks guys

This is not for me. I will pass along some of these ideas to my friend. He is not in a good place. He lost his job and job market is not in his favor. I will be happy if I can help him somehow with these ideas. Thanks again.

 

[WoodysGirl]

Thanks guys

This is not for me. I will pass along some of these ideas to my friend. He is not in a good place. He lost his job and job market is not in his favor. I will be happy if I can help him somehow with these ideas. Thanks again.

If I lost my job, I'd probably scale back on my expenses to the point, I'd almost go back to student living while I'm looking. Even if I had 300k sitting in the bank, I wouldn't be looking to use all of my resources to start up a business. I'm too financially conservative, ie. cheap, to do that.

But it certainly wouldn't hurt to look into starting up one...and depending on his career, he could look into consulting. It takes little to no money to hang up a shingle and say, "I'm in business. Let me give you some advice...for the small fee of X amount of dollars."

 

[Shunpike]

He is married with kids and his wife is working. So it is impossible for him to live like a college student but yes. He has cut back tremendously. No more golf, no more Atlantic City trips with me. No more strip club etc.

He is looking for a job but at the same time, he is looking to start a business with little risk.

Thanks WoodysGirl. He is in a fact a smart finance guy. Consulting might be a good idea for him.

 

[RS12]

What's it cost to start a McDonalds now; or other profitable chain?

Thought I heard around 2 mill for McD.

 

[DallasCowpoke]

I told him to open up a Long Term Storage place but he didn't like the idea.

IF you had $300,000 and if you were in your mid thirties, what type of a business would you consider setting up.

The storage is a pretty sound idea actually. Especially if you can purchase the land and build-to-suit. My dad and I did this back in the late 80's, on a 10-acre piece of property owned by a family member, on a "secondary" highway, just outside of San Antonio.

We built, hired an older couple who lived on-site to manage it. Within 5 years we were fully-built, paid off the loan we used to finance the purchase of the land only, and consistently 75-85% occupancy full year round.

We then sold the business in the next 2 years and retained ownership of the property.

Another business I've always thought would be an interesting investment. A Driving Range. Again, especially if you can purchase the land and build.

I would get in to commodity trading. For example honey and pepper. Hard part is finding a buyer and quality control. But if you can find a reliant supplier over seas with quality product and find a buyer here in the states you can make a killing. You will need to send samples before hand otherwise if shipment arrives and lets say honey has crystallized they won't buy and it'll be a pain deciding what to do with it.

What you're describing is Importing / Exporting, not commodity trading.

 

[Cowboy Brian]

Comeup with a concept to launch a company - Hire a few tech grads that can't land a job or that are not in the position to relocate/can't afford housing... Offer a room (if needed), 5-7% of equity (less with room) & 40k a year. Get three. Most will have the skills to get a good concept online and then spend funds on hiring an online marketing firm with an exceptional reputation (iCrossing). Finally when (if?) it gets a sizeable user base hire a tech deal broker to shop it to all the major companies. Apps that lose money sell to companies for millions.

Other options is to start a franchise for a chain that is profitable without a presence in your area. It is a risk but can be highly rewarding. Chipotle, Red Mango.. Those newer, cooler brands. The first option involves a certain amount of risk but has far higher chance of a huge reward. You're not going to have the potential to become a billionaire with a franchise, but you probably won't lose all your money either. With good engineers/cs guys, you're not losing your investment in tech either. The app bubble is especially ridiculous right now. Very little valuation is based on potential to create revenue, solely on downloads - rarely looking into active user base.

 

[Tabascocat]

300k isn't enough to get a franchise of a FF chain these days. Last I heard, it costs 500k to get a Gengis Grill(I want to do that one) but you need the finances and availability of opening 5 more. So, that would be 3 million in freed up money or pre-approved loans. The Gengis Grill example is the cheapest I think. Subway even costs more but who would do that, too many of them all ready.

Investing also depends on his location. For example, I could open a Schlotzkeys here in Cali and make a killing because there is only a few in all of southern CA. I think it is around 1.2 mill to get one going.

For me, I would probably invest in real estate and/or fixer-uppers to start. The market is slowly turning around and this is the time to buy IMO.

 

[DallasCowpoke]

Other options is to start a franchise for a chain that is profitable without a presence in your area. It is a risk but can be highly rewarding. Chipotle, Red Mango.. Those newer, cooler brands. The first option involves a certain amount of risk but has far higher chance of a huge reward. You're not going to have the potential to become a billionaire with a franchise, but you probably won't lose all your money either.

Chipotle hasn't sold franchises for quite awhile. And those that were sold early on, have been terminated and bought back.

A franchise like Red Mango will barely give you lip-service w/ $300K. Their minimum net liquid assets requirements is $200K, plus a net worth of $300K, minimum. These two things are not the same thing.

And w/o some solid restaurant and/or retail exp, they're not interested.

 

[DallasCowpoke]

300k isn't enough to get a franchise of a FF chain these days. Last I heard, it costs 500k to get a Gengis Grill(I want to do that one) but you need the finances and availability of opening 5 more. So, that would be 3 million in freed up money or pre-approved loans. The Gengis Grill example is the cheapest I think. Subway even costs more but who would do that, too many of them all ready.

Investing also depends on his location. For example, I could open a Schlotzkeys here in Cali and make a killing because there is only a few in all of southern CA. I think it is around 1.2 mill to get one going.

For me, I would probably invest in real estate and/or fixer-uppers to start. The market is slowly turning around and this is the time to buy IMO.

/\
This...especially the part in bold.

 

[muck4doo]

Invest in me. I will double your money in years. Message me so I can tell you where to deposit the funds.

 

[arglebargle]

Start up, or franchise into, a comics and games store.

 

[MichaelWinicki]

From the description it doesn't sound like he's into manual labor...

I'm not being derogatory, just fine-tuning some potential suggestions.

I'll list different opportunity categories by their overall level of risk, with the most risky category first:

1. Start your own business. Will require the least amount of investment but will be the one with the most risk. Why? Because it all rests with the person starting it. If that person lacks discipline or lacks the initiative to spend the necessaryeffort/effort working ON the business as opposed to working IN the business then this probably isn't for them.

2. Buy an existing business. The price tag goes up, but the level of risk goes down. Getting a business that is well-run and has a solid customer following is like having your own oil well. It will just keep giving you money day after day. But your're going to pay for it and many times the "for sale" business has "warts" and that's why it's for sale. Many of "for sale" businesses can be turned around pretty quickly– especially if one has some knowledge of marketing.

3. Buying a franchise. The risk goes down (but not eliminated) because you're sold a "system" (for usually a good chunk of changed) that has worked for many before you– as long as you're willing to put the effort in. The ones that fail with franchises aren't willing to put the effort in.

 

[Kristen82]

Marijuana coffee shop. Could hold lots of different events there like open-mikes, weddings, speed-dating nights, etc. Possibilities are endless.

 

[LynnFoster]

FWIW, a friend of mine went through this exercise several years ago and spent a lot of time doing due diligence. He decided coin laundries were the way to go. Low overhead after the initial investment, steady cashflow and no employee headaches.

 

[honyock]

FWIW, a friend of mine went through this exercise several years ago and spent a lot of time doing due diligence. He decided coin laundries were the way to go. Low overhead after the initial investment, steady cashflow and no employee headaches.

I had a client awhile back who was saving her money to do the same thing, buy a coin laundry. She had done a lot of due diligence on it and decided to go for it for the same reasons your friend did. She also looked into and was interested in buying a car wash as well, but it involved a bigger initial investment, so she was starting with the coin laundry.