Lets say you have $80K to $100K cash in the bank and wanted to start a business. You could get a small business loan for any further capital.

You have no learned trade skills other than being a lifetime police officer, so any new skills would have to be learned, quickly, via company training or on the job training.

What business would you build/start/franchisee?

That's not very much money. Stick with something you're good at.

Cop stuff, but private sector.

how much per year would you want to make from it, and how much time can you devote to it?

I'd get an 18 wheeler and a TransAm and convoy truckloads of beer to places that don't have it.

Retired cop, who doesn't want to own a bar?!?!?!

$100K is not a lot to start most businesses, certainly not a restaurant, bar, or "corner store." Most franchises are out of reach as well. Many small businesses are going to be effectively 24x7 on the job, be sure you want that before opting for them.

I have a friend who burned out in the printing business, quit that, and bought a small stump grinder and a truck. He sets his own hours, works only when it is sunny, makes enough to support his family, and is as happy as a clam.

I wouldn't. Without the education and experience to run a small business, you're odds of making it are...small. They aren't great to start with, only about 1/2 make it to 5 years and only about 1/3 make it to 10 years. Many of those that survive the 5 year mark still aren't profitable.

If you have something you are passionate about and can figure out how to monetize it, if you know how to keep your own books, manage cash flow, and know your numbers, and you have something unique to offer...then maybe you can make a go of it. Just trying to buy a business in a box with no particular interest, experience, education, or training is a recipe for burning money.

quote:

Originally posted by radioman:
how much per year would you want to make from it, and how much time can you devote to it?

I'm not working so I can technically work all day every day to get started. Once(if) successful, could hire a manager to take the load off me some.

I dont need a salary right away, and COULD work for free until the business is successful and could thus draw a salary.

I AM NOT going back to the regular daily grind, working for someone else, or working for the man. Not happening. Thus, I'm feeling out some ideas of a business that I can own and manage.

Wife is high level business executive level, making deep 6 figures. She manages thousands of employees and hundreds of millions in sales. With her help and experience, I'm pretty sure we can handle a small scale business start up ran by me.

Start a lawn care/landscaping business if you are interested in growing things.

quote:

Originally posted by 41:
Start a lawn care/landscaping business if you are interested in growing things.

No money in residential lawn care in Florida. If I go that route, I would consider commercial only and would hire crews for the labor. I'm not personally sitting on a lawn mower, in Florida.

My old neighbor was a young kid (25) and he had like 10 lawn care crews working for him and was probably a millionaire by age 35.

The first and only question is what do you like to do. Following that talk to small business owners who do that sort of thing.
I have run a small business for years. It is always challenging, requires a seven day commitment, and is gratifying. It beats working for someone else.

One booming business now is Disaster Recovery. Following Katrina, a friend of mine gave his walking papers to his high paying job at a Fortune 500 company, took his family to Disney and returned with heavy equipment to clean up after Katrina. He worked day and night and put his kids and wife to work in the business. He had prior experience in Heavy Equipment. The cleanup here on the Mississippi Gulf Coast lasted YEARS. He was honest and did good work.

I would want something with the least amount of possible headaches and something I could do alone at first and therefore not require other employees I would have to rely on or who could screw up my business.

Some ideas:

• towing company - you'll need a tow truck and an impound lot
• a P.I.
• locksmith
• mobile auto windshield repair
• virtual call center from home
• uber or taxi-type service for the elderly
• pickup/deliver groceries for the elderly
• snowplowing

Definitely do something you like or want to do, otherwise your heart will not be in it. I have started three business from scratch, the first two with near zero money.

I would avoid work that could be duplicated with low paid immigrant labor. Also try to find something that does not involve mostly sitting on your butt. If so you will eventually develop low back pain and more.

I would consider:
1. P.I.
2. Another LE career, but where you are not working for "the man".
3. Possibly health care related, as you are usually moving around doing something.

When I went back to school when I was 47, I was very concerned that I would be out of place being so old. However the women in the school were crazy about me, so that was not a problem. I would try to find something that is challenging to do, so there will be less competition and lower pay.

I have friends who work with heavy equipment. I have bought some from equipment auctions. If you are mechanically inclined, you might consider buying and selling heavy equipment. Buy from auctions, check out the equipment, do any servicing needed, and sell the equipment from you own lot.

I have seen the prices at auctions and note what the equipment usually sells for on the used/retail level. There appears to be a generous markup.

quote:

Originally posted by pbramlett:
https://freddysusa.com/faq/

Hmm...

According to that FAQ, it looks like Freddy's is only looking for francisees who are willing to open a minimum of 4 stores.

They estimate each store to require an initial investment of anywhere from $592,810 to $1,999,117 apiece, plus a $25,000 franchise fee per restaurant.

So the OP's entire $100k would barely cover just the franchise fees for 4 stores.

He'd then need to try to get loans for a total of $2.3 million to $8 million, in order to get the 4 stores built and up and running.

So I'd say a Freddy's franchise is not a realistic option for bubbatime...

I'm sure you are aware that the failure rate of small businesses is pretty high. Of course that will depend on the person, the business and to an extent, luck. I saw a train wreck where a person lost money, property and a lot of time and work. As long as you're not the one this happens to, you could make some money.

Funeral home.

Keep the money and don't do it is my advice, I have been in business 33 years and wish I never started it, just to dumb to realize it until now. or you can save yourself a lot of trouble and flush the money down the toilet. without any experience 100 k wont last you a year.

Crime scene cleanup.

-Rob

That's about enough to use to file bankruptcy on the new business and save the lost time and energy.

Or.

Go for your dream.

Many a fool has sat on his porch as it disintegrated around him, while another man builds a ship of dreams and sails on...



My vote is, go for it.

Very few men have laid on their death bed and lamented about trying another thing in life.

I have gotten where I am in life by failing forward, and not retreating form it.