Would buying a business like pic related be a good idea?

If you're serious about buying that shithole you need to do two things:

1) Contact a real-estate attorney to get a copy of the last 3 years worth of books

2) Take them to an accountant for a thorough review

I bet the numbers in the add are highly inflated.

I thought I could study while making a decent income at the same time.

you wont get any good worthwhile business under 100k.

Maybe buying an internet website for 20k, and using 30k in advertising and employees will earn much much more than a qwik pik

where do I find these? I have 200k and want to spend it to make more money.

Based on You're looking at working 12hour days every single day for 7k/month if you do everything yourself. When are you going to study?

>12h/day * 1 month = 366 hours
>$7000/366hr
That's not even $20/hour

I was assuming there's enough time between making sales to write a couple notes here and there and listen to audiobooks.

How much does a multi-family rental cost in a not-crack-head neighborhood in your area?

Could you pay for 25% of it with $150k?

Would it pay for itself in less than 10 years based on rent collected?

I work 60 hours per week at a factory and 20 hours at a gym. It can't be shittier then that.

thanks for the idea

the only way a convenience store can make money is if its located in the ghetto. Lots of foot traffic and lots of unruly niggers. super dangerous imo. one of my friends dad owns a chicken wing store and had three niggers follow him home which resulted in a gun fight

Shieeeeeetttt

Your numbers are way off. A report I found in 2 seconds said the average gross revenue of convenience stores was $1.2mil. That would make the weekly sales closer to 24k not 7k.

Even if you ran it like shit or lived in bumfuck nowhere and made half that average you should be able to turn a profit.

A convenience store is a hell of a lot easier to run than a restaurant, grocery store or coffee shop. It just requires being organized, clean and efficient. You have to be able to hire and manage effectively so your staff reflects those same qualities.

Before even considering it you should make a business plan that includes competitive market research, find out where other people shop and how you can get people to come to you. Sometimes it's easy and you can get a nice customer base, other times you wind up buying the shop without finding out there's a huge carwash/truck stop mega market right around the corner with 24 gas pumps and you're shit out of luck. Financial estimates, a good working inventory system, payment system, etc.

If you take the time to make a realistic and viable business plan you'll have gone through enough details to know whether or not it's a good idea to purchase a particular business. A lot of times you can get half way through before you already know it's a bad idea. Good ideas that have potential will be the ones that you finish a thorough business plan for, and still take the time to look it over and judge it as a whole. It also makes it far easier to get loans, investors and it can serve as a part of your template for training any management you may need down the line.

The sales numbers are in the OP. If they could inflate them I'm sure they would. They might be inflated as-is.

Before you say that's the revenue in the picture, there's on obvious reason why they are selling the place. You can see from the picture they stock a fuck ton of shit that people don't buy and are just holding inventory which is a common reason for independent convenience stores to close, bad inventory management practices and not meeting consumer demands.

>A report I found in 2 seconds said the average gross revenue of convenience stores was $1.2mil

Is that with a fuel business associated? What city / state / county / demographic? Is that a national average?

Give me a fucking break dude. The numbers I used were based in the OP, where the business is doing so fucking badly they're including $50/month in ATM revenue as though it's worth the space in a print ad.

10k-20k in renovations for shelving, lighting and equipment, a reliable supplier, stock based on local market research and consumer needs, and a few good staff and you could at least double that but probably triple it.

Worst case scenario is it's in the middle of fuck all nowhere, still probably be able to pull at least 12k.

I think they're selling the place because their $7,000 revenue/week figure is inflated and the poor pajeet they've got working there 14-16 hours a day as a "manager" quit 3 weeks ago. Their inventory management practices are probably bad, but we don't know the demographics so we can't say that the inventory they have isn't turning / is stale / etc.

What OP needs is 3 years of books and an accountant. I bet the place is BARELY solvent and isn't turning a profit. THe owners are trying to get piss from a rock by claiming the place is worth $55k. It's not. It's probably worth $3k in inventory, 5-10k in capital equipment, and another -$2500 in cleaning.

Pretty much this. Don't forget insurance and legal costs. Also, good luck running the place with no experience or connections.

What should I do instead goys?

...

nice dubs

2010 Convenience Store News Industry Report.
>144,341 convenience stores in the United States at the time, 73.7 percent were part of a chain of convenience stores, and 62.3 were privately owned single operations. Close to 80 percent of the stores sold fuel to increase gross revenues.

>About 20 percent of convenience stores do not sell motor fuel that provides a gross profit margin of only about 6.4 percent.

All I'm saying is they are selling the business because they are not running it well, if they are suffering because of external influences then they aren't adapting properly as a business.

That 7k figure doesn't represent the average of businesses that are the ones that are staying open. It is a poor indicator for the performance of the business after you take it over. This is just from my experience in the consumer goods and food industry.

In Hamilton? No, just move out.

If they were such great opportunity, why are they selling? Couldn't you lease your own place, and setup all the things they have listed? Saves you 55k. But in Hamilton, you're going to get robbed a lot.

check em

trippps

Businesses like franchises and grocery stores are too much work for the pay. For them to be profitable and worth the investment, you need to own like five different stores. You hire managers and act like a DM of the stores.

This is exactly what not to fucking do OP. Go and gather all available actual information and make a new thread, there is nothing useful in this one.