So I just got permanently disabled and made unable to work do to an eye injury. I'll never work in my trade (contractor) again.
I have 1,000,000. What are some turn-key businesses I could buy and manage right from the go, with minimal start-up expenses.
I need to do something with my life before the depression consumes me.
1 million? Invest 200k in dividend paying stocks, google best ones, make living on collecting from them. The end.
Need to do something with my life.
I'll look into that but the point is I want do something productive with my time.
Buy and sell real estate. You should already know some stuff about it
buy and then manage a small apartment complex. you may wanna take a class on the basics of it but its highly lucrative but also times consuming.
A Mcdonlads or a Taco Bell in the right area are pretty cookie-cutter and print money. They can be a headache to manage employee wise though.
1m should be enough to buy one somewhere.
Good one. I've been looking into it.
Any other ideas? Maybe a franchise.
Should have wore safety glasses faggot.
I'll do some research. Where would be a good place to plant one... low income areas?
It was a retina detachment and most likely unavoidable with my level of physical work.
subway franchise...aint too expensive..open several.
but with 1 million i would just buy real estate and rent it out the rest of my life.
then you can buy sports cars, nice homes with added safety.
when money aint a worry anymore do something more adventurous.
some sort of crazy business idea.
Real estate is how I got the money in the first place. I'm looking to do something more involved.
What are You passionate about? Or get a massive apartment complex and do the management and maintenance that'll take up your time
Nah not really, low income areas bring you more trouble. And unless you're used to dealing with that kind of trouble it will throw you for a loop.
Anywhere in the U.S. that gets a fair share of traffic.
I was passionate about my job which I can't do anymore... I've been thinking about going back to school to be an architect and still work in that field.
Buy a contracting company and work from there.
I'll look into it. How much income per year vs. Intital start'-up do franchised typically generate?
That's a possibility
You might not be able to do the work yourself, but what's stopping you from managing what you're passionate about? Use your connections you've built up over the years, hire a few guys, and run your own operation.
I'm in fiber construction (FTTH/FTTS/etc) and plan to do this myself at some point.
I'm not sure on the numbers. I'm a tech person that has talked with the owners of said franchises around town. I encourage you to do your own research.
From what i understand every single part of the business is dictated to you by the franchise, from startup to kitchen prep to policy. And once you get one up and running in a good location it spits money at you. If you're looking for something fun, new, or creative then that business is not for you.
The people that own these types of franchises are people who came into money and have very little business sense or decision making ability; and it's still profitable for them.
Call taco bell or McDonalds, tell them you have a million. I'm sure someone would be able to walk you through the details and hold your hand.
I heard that Zaxby's franchises, and Chick-fil-a franchises make a ton.
Keep the money in something very safe (ie cash, t bills)
Spend a year researching, and speak to a broker. Don't rush into anything. I can see it now, pissing away your life savings on a restaurant or other pipedream while you kick yourself for not relaxing and living off 4% per year.
Good luck.
This is probably what I would do. Real estate holds at least some value even in bad times, it generates a steady flow of income, and it's a great way to leverage your knowledge (about neighborhoods, people, etc.) into reasonably reliable cash. All you'd really need is a goddamn good property manager (if not just yourself) and someone you trust for maintenance work.
That said, don't go fucking flipping, that's an easy way to zero out your funds. Do what I'd do: find a cute little college in a small city, buy a nice-but-not-too-nice apartment complex near it, put a bit of manual labor in yourself and offer one of the apartments at a discounted rate to someone willing to manage the complex part-time (say, a graduate student or something like that). Fuck, you could even consider living there yourself.
Be careful. Fast food joints are not bad investments, but they require a LOT of work. From those I've spoken to who have owned/run them, they are muuuuch more work than you could possibly imagine, though the franchise tends to help you get going. Be prepared to deal with the dregs of society (both the people buying the food and the people working for you).
Chick fil a or a culvers. Culvers is on the rise I recommend them. Fire food and shakes
I'm not going to read the whole thread because most of the people who post here are mentally challenged teens, so I'll just say "props" to anyone who said this already: utilize your existing business contacts to subcontract work to others at a moderate fee schedule. You'd basically just be the desk jockey dispatching assignments to your previous competitors, but you're still able to give quotes and answer your existing business line, right? You've already got a turnkey business, you just need to modify your existing business plan to include subcontracting and exclude physical labor.
Pro tip: Once you know you're making money, hire someone else to give quotes and answer the phone.
came here to say this.
assuming OP was a self-employed contractor it's a very small step to being a contracting business. Just bid work like you normally would and then pay someone less money to do it. Pocket the difference. Do it a lot and you make a lot of moneys.