Ari's Entourage
New Contributor
- Joined
- Mar 19, 2014
- Messages
- 10
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User Power: 150%
Hey everyone, looking to get some input on this business opportunity I've been presented.
Currently I am working at an independent niche retail store and as a volunteer firefighter on the side. At the store i work at I'm always looking for the best new way to improve the business and have helped the store grow to $ 600 000 net sales annually. The owner see's this and has mentioned he would help me open my own store. How that would work is he would give me $ 100 000 worth of product and i would make a $ 20 000 down payment right away. The rest of the money would be paid off over the course of the next 3 years after my store would open. He would collect a small royalty for essentially giving me an $80 000 line of credit, giving me all the suppliers for the product, helping me map out a good location and using the same business name for sales exposure.
I was going to sit down with the financial advisor to make sure i have everything 110% before i go ahead with this. I think also i would test a new location for November and December because if the store doesn't do good in those 2 months i will have an idea the location will be bad for the rest of the year.
I'm currently 21 years old, so i could own all the product and new product by the time I'm 24-25. Also i would have tons of time to work on other business opportunities after the first couple of years because i would have multiple people working under me. Let me know what you think.
Currently I am working at an independent niche retail store and as a volunteer firefighter on the side. At the store i work at I'm always looking for the best new way to improve the business and have helped the store grow to $ 600 000 net sales annually. The owner see's this and has mentioned he would help me open my own store. How that would work is he would give me $ 100 000 worth of product and i would make a $ 20 000 down payment right away. The rest of the money would be paid off over the course of the next 3 years after my store would open. He would collect a small royalty for essentially giving me an $80 000 line of credit, giving me all the suppliers for the product, helping me map out a good location and using the same business name for sales exposure.
I was going to sit down with the financial advisor to make sure i have everything 110% before i go ahead with this. I think also i would test a new location for November and December because if the store doesn't do good in those 2 months i will have an idea the location will be bad for the rest of the year.
I'm currently 21 years old, so i could own all the product and new product by the time I'm 24-25. Also i would have tons of time to work on other business opportunities after the first couple of years because i would have multiple people working under me. Let me know what you think.
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