Research, research, research! Some of the questions you want to seek answers to are:
1. How much capital do you have and what will that do for you in a business purchase?
2. For the capital you have, where is your best location and why?
3. What do you expect on a return of investment for the capital you invest?
4. Do you plan to work the store yourself and how much do you want to pay yourself as an employee?
5. What are the various expense ratios that you should apply to gross in order to achieve the bottom line you are seeking?
6. What is your escape plan in the event of failure?
I realize that someone of these questions may be too analytical for you. However, I would suggest that you should think very carefully about the answers you get. Sometimes it is better to be an employee of someone else and invest the funds you have in something that will bring you a decent long-run return. Particularly in these times when I believe everyone should be thinking about where there retirement income will come from. The one thing I have learned is that the years pass all too quickly in retrospect. When one is thinking about today only, sometimes mistakes can be made that will cause for painful payment at a later date.
Do your research and if the answers you get will give you the freedom you are seeking, then go for it! In the US the desire to start one's own business should never be extinguished, no matter what policies may seem to try to restrict this desire.
Good luck Falun.....
Rob Baird, CA RE License #544165 (One of the oldest, active licenses in CA) 951 515-5855 Email: email@example.com
Nov 14, 2010