Buy a house or start a business?
Start the Business. Don't listen to these people. You will need FLEXIBILITY if you want to succeed as an entrepreneur. You don't want this huge illiquid asset sucking the cash out of your pocket. Renting out a house is a nightmare and only for suckers who are too scared of the stock market or don't understand it. The purchase of your principal residence should NOT be principally an "economic" decision. It should be bought based on where you are at in your life not because it seems like a good time to buy. Besides NO ONE knows when the best time to buy is. Maybe its in 5 years when your business is a great success and you really have some decent cash to buy the house you really want. The only way to get "financially free" is by starting that business, paying yourself first and working your *** off. If you want to slug it out as a landlord for 30 years dealing with reprobates to achieve the same thing than be my guest. ** I ammend my answer and agre with the guy below me. I didn't read carefully when you said you had no savings. He is correct that you are in a position where both endeavours woulds fail. Make some money first. Work your *** of until you have money. There is no free lunch in this world.
Corporate Housing: As a business owner, does it make sense to have my company lease a home for me to live in?
Depends on the constitution of your business. In case of proprietorship, all expenses related to your home will be added to your income.if you are a partner and draw salary, then you MIGHT be able to benefit from tax sops. If you are running your business under a Company, then you can structrue your package to derive maximum benefit.Buying a home is not just an expense but it is more of an investment and an important asset that comes with many tax sops and usually good appreciation.Renting is a good idea since you are paying rent that is less than FD interest the cost of the apartment would have earned.Chose what suits you more.To have best of both the worlds, buy a house in spouse name and rent it, definitely under the guidance of CA.
Is it better to rent or buy if you're a small business owner?
In the current market, I’d say rent. Owning commercial property requires that you have opening capital that you may or may not have -- money that you could indeed use in advertising your small business (as Sree Naidu mentioned in his answer). As a small business owner, like a landlord, you may have to incur any property costs, vandalism, taxes, etc. As a renter, you have more leeway and freedom in not being tied down to an investment. However, it is important to note that you may have more oversight in terms of what you can and cannot do to the property you are renting -- which may require some back and forth with your landlord or management company. Owning also provides some greater tax breaks. Ultimately, it depends on your current financial situation. Of course, if you have the means, the know-how and a dependable commercial real estate broker or legal rep to help you make a solid investment, by all means; do it! And good luck!
Can you negotiate the price when buying a small business?
The price that you will pay for anything including a business is dependent on supply and demand.For example, there are many variables that will determine the value of a business such as:How long it has been tradingWhat the turnover and profit figures areWhat market sector it operates inWhat restrictions come with itHow much time and expertise you will need to put inHow many customers it has, whether they are repeat customers or notWhat competitors are in that marketSo before you can negotiate you need to consider:How badly you want it?What is it worth to you?What other options do you have?How badly do they want to sell?What are their strengths and weaknesses?What are your strengths and weaknesses?If you have a strong plan B or even Plan C, then you can find the weak areas in the deal and negotiate harder, knowing that you have a back up plan.For example, I wanted to buy a house many years ago in the UK. The house cost 100,000 Pounds brand new but when it was 3 years old and up for sale I wanted it but could only afford 75,000 Pounds.I knew the owners were getting divorced and wanted to sell urgently. At first they rejected and laughed at my offer. Two weeks later, they phoned me and accepted it.So almost everything is negotiable - what have you got to lose by asking?
Husband and I are interested in buying an existing business?
We are in the process of purchasing our first home, and we both have good jobs. I have worked in restaurants and retail and I finished my bachelors in Marketing last fall. I currently am a manager trainee for an office retail/shipping company. My husband has worked in hospitality, military aircraft maintenance, and currently for a semiconductor company (troubleshooting and repairing machinery). He will be finishing his degree(s) over the next couple years. We think the best fits for us would be food related (deli, cafe, restaurant, convenience store, an existing franchise..), and preferably a business that won t require us to quit our current jobs (though we aren t looking to be "passive" owners. For the right opportunity, I would leave my job to be a full time owner/manager). How does a lender determine whether or not/how much to lend? Will our borrowing ability be affected by our recent home purchase? Should we wait a couple of years until we have more money to put down? We would greatly appreciate any insight and/or advice! Thank you!
What do local small trade business owners (pool cleaning, plumbers, house cleaning, mechanics, etc.) find most frustrating about online/search marketing?
Sometimes, the small trade business owners find it frustrating to wait for some months to get leads on the website. As a matter of the fact, Search Marketing takes some time in giving results. The business may get 6 to 12 months in getting leads.They can use the following solutions to get the instant or comparatively quick leads.Buy Pay-per-Click Advertising: Pay-per-Click or PPC is the advertising service offered by Google and other search engines. The advertisements are displayed on the top of the search results. Traders need to pay bucks as per the number of clicks on the advertisement. But, this is the way with which they get the leads for their websites within hours.Work on Social Media: However, making followers on social media websites can take time, but it can be fast as compared to search marketing. You can also buy ads on social media platforms, which can give you quicker results.Do Read Online Plumber Marketing – Give Your Business a Boost.Disclaimer: I am working as a digital marketing expert with CanbayInc.
How can I find a small business to buy in the San Francisco bay area?
The best way to buy a small business at a really good price is by pure networking. Tell everyone you know about the type of business you're looking to buy and give them your business card to show them you're serious. The next way is to search Linkedin for owners of the type of businesses you would be interested in buying. If you are not directly connected to the business owner then see if you have a secondary connection who can make introductions, if you have no connection then send them an inMail and introduce yourself and explain to them your situation and tell them that you're looking for a business similar to their and if they know anyone who may be interested in selling right now. You will be surprised that many business owners know who is thinking about retiring, who isn't doing well and who is looking for an exit. So don't over look getting to know these people. The last way, which is the easiest but most expensive is going to a business broker. Business brokers make a commission based on the amount they sale the business for, so do not expect any deep discounts or a discount at all. I actually do not recommend using business brokers and I buy businesses, so I know a lot of them. But the best deals are the ones you find, cultivate and develop yourself.
Do most business owners have degrees?
I’m currently in school, but I don’t know if it’s really for me. I want to be a multi business owner. Should I stay in school to get my four year degree? Or just finish my AA & pursue my own businesses. I do not like working for other people, so I don’t want to graduate & get a job at someone else’s company. Do most business owners have degrees? Or is it unnecessary.
I'm a teenager, and I'm fairly certain I want to be a business owner and real estate investor when I grow up. I also currently have a 4.0, yet keeping it takes a lot of time. Is it worth it to keep the 4.0? Or should I put my time into preparing for my future job by working on my small business'?
Oh yes, keep up your grades! You're going to want to get a business degree, probably an MBA or law degree, to succeed at the highest levels. Having had a small business early on won't be of much help to you when you get ready to raise capital for something amazing.