[Gaulkin]

Just found this forum and decided to join. I'm looking to branch off into other area's since my real estate business is covered. Any advise about clubs, a gas station, restaurants ext?

Ps. Ive been thinking of opening a listings website for rentals, houses, foreclosures and such. Id like this because it will work in conjunction with my already established real estate company. The website will be the best and do everything for me. If you all could give me some advise on the path to take on this that would be great or any links that would be great, thanks.

[zoobie]

Just want to welcome you here at YE!

[Paint and Air Sportz]

Where are you located? And what are your intrests?

[Gaulkin]

I'm located in Miami but can do business anywhere in the world. I'm interested in some cash flow investments because in real estate I mostly deal with flips and not so much cash flowing properties. One of my buddies owns a citgo and is partnered with someone else. The other guy is the manager and he makes money doing nothing. He also owned quench, which was a club/restaurant in coconut grove but sold it because of declining profits. Those are the main things id like to get into but I'm open to any other ideas anyone has.

[Unreal030]

Well it really depends on which path you want to take. The safe route or the risky route.

Your location is a prime area for clubs/restaurants/bars though I am sure you know that. Clubs/Bars (basically anything pertaining to alcohol) can be very profitable since you can greatly (I mean greatly) markup the price of the alcoholic drinks through glass per glass pricing versus the actual cost of the bottle/case, even more so if it is a club (though in turn, clubs are also much more expensive to startup). You can get a very nice profit margin off of alcohol alone especially if its one of your, or is your main product to sell at the location.

The issue however, is that bars and clubs require a ton of startup money, even smaller ones, and no doubt even more in locations like Miami which I would assume have high prices on property both for rent and for purchase (from my experiences living in Orlando for a year). Bars are also infamous for having a high failure rate. I have not done the research to actually find out why this was but I would assume that it had something to do with the large startup costs and paying back those costs, as I don't think bars have much trouble getting traffic as long as everything is priced half way decent and you have the usual incentives to make people come (TV's with sports on them, whatever)

An interesting route that is much less expensive as far as start up and would be just as successful in your location would be an event planner. It is also a great way to network, and could, possibly, even be beneficial to your real estate business. However you would of course need to be interested in it.

A gas station, that would probably work out well especially with how things are nowadays however I do not know much about that kind of business.

Restaurants go along the same lines in expenses as bars and clubs so..

[Gaulkin]

I like the event planner idea because im assuming i wont need a office I could just work from home correct?

What does a event planner do exactly? Of course they plan events but where could i learn about the ins and outs?

[Unreal030]

Yes you could work from home, depends on what you would like your business model to be like.

As far as learning the in's and outs...I don't know much on it myself but I have looked into it a little bit as a potential idea in the future.

Here are some excerpts from e-books, of course I cannot prove the legitimacy of the numbers but they seem reasonably accurate.

---------

http://www.entrepreneur.com/starting...icle37892.html

Start Up Cost Chart Spectrum is on 3rd page.

There are several pages of excerpt from the e-book, the page links are at the bottom, so make sure you don't miss those.

Some books you can purchase:

search for them on amazon.com


Event Planning Ethics and Etiquette: A Principled Approach to the Business of Special Event Management (Hardcover)
by Judy Allen (Author)
http://www.amazon.com/Event-Planning...1715344&sr=1-1

Marketing Your Event Planning Business: A Creative Approach to Gaining the Competitive Edge (Hardcover) by Judy Allen (Author)

http://www.amazon.com/Marketing-Your...716430&sr=1-12


Time Management for Event Planners: Expert Techniques and Time-Saving Tips for Organizing Your Workload, Prioritizing Your Day, and Taking Control of Your Schedule (Hardcover)
by Judy Allen

Start Your Own Event Planning Business: Your Step by Step Guide to Success (Start Your Own Event Planning) (Paperback)
by Krista Turner

How to Start a Home-Based Event Planning Business (Home-Based Business Series) (Paperback)
by Jill Moran (Author

Event Planning : The Ultimate Guide to Successful Meetings, Corporate Events, Fundraising Galas, Conferences, Conventions, Incentives and Other Special Events (Hardcover)
by Judy Allen

http://www.amazon.com/Event-Planning...1715184&sr=1-1


The Business of Event Planning: Behind-the-Scenes Secrets of Successful Special Events (Hardcover)
by Judy Allen

http://www.amazon.com/Business-Event...1715344&sr=1-3

(Both Judy Allen books cover different need-to-know things)




In regards to bars/clubs

heres some more info, again, not claiming legitimate info.

excerpt pages from e-book again, same deal, page links at bottom.

http://www.entrepreneur.com/starting...icle41460.html

the startup cost chart is on the 3rd page.

[zoobie]

Check out the suggestions and think over which will work best for you. Have a good research, too.

Aside from my business, we just launched a membership site. There are people who do membership sites and they are doing well.

Best of luck!

[syia]

Hi and welcome to YE.. do you interested in franchising? or making own business

[Gaulkin]

Ive been thinking of opening a listings website for rentals, houses, foreclosures and such. Id like this because it will work in conjunction with my already established real estate company. The website will be the works and do everything for me. If you all could give me some advise on the path to take on this that would be great.

[Unreal030]

I am not terribly sure we could give you that much info on a listings website, again however I might be wrong. I think it might be best to do a little research into these 2 or 3 avenues, some deeper research and that will help you at least narrow it down a bit.