HOW TO FIND THE BEST DEAL TO START A NEW BUSINESS OF GAS STATION OR LIQUOR STORE?

In Buying Property - Asked by falgun p. - Nov 13, 2010
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Rob B.
Chandler, AZ

Falgun....
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: rob@capratecommercial.com

Nov 14, 2010
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Mitri H.
Broker/Agent
Wilmington, DE

Dear Sir:
As a new business you have control over things that a current established business does not. These things include but not limited to rent, space, etc. It's important to negotiate a favorable rent and escalation rates because once you sign the lease, you have no control of the monthly rent any more.
There are plenty of others things to consider as a new business and if you have any specific question, please feel free to email me at mhabash@cbcworldwide.com
Regards,
Mitri S. Habash, CCIM, MCRE

Nov 14, 2010
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Nadina C.
Broker/Agent
Phoenix, AZ

You may want to consider buying an already existing business rather than starting a new one. Be sure to use the services of an experienced, licensed business broker to buy an existing business or the services of an experienced, licensed commercial real estate broker if you are going to lease or buy the property in which to operate a new business.
The "best deal" begins with having sufficient knowledge about the operation and economics of the business you will start or buy. Then, in addition to a good broker, you must have a Certified Public Accountant (CPA) who is experienced in the taxes and other matters for your type of business, a business attorney, and, if you are going to borrow money to start or buy the business -- or need funds for ongoing operations, a banker who will take the time to help you (including recommending a CPA and attorney) rather than just saying Yes or No to your loan application.
Starting a new liquor store is a gamble because you must be in compliance with the liquor licensing laws of your state. Some states, like Arizona, also have the city help them to determine of a new liquor license should be granted in a certain neighborhood or whether it should be granted to a new owner. Be prepared to spend time and money on obtaining the liquor license.

Nov 18, 2010
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