What kind of business would you start if you had 1 million dollars?
1 million is NOT a lot of money. You need MORE than that to retire on these days. I would invest in other growing businesses. Keep my options OPEN and not need to actually WORK the day to day grind.
What is it like to start a business with $10 million?
Your investment is very large, so you will have many choices. But because of this, you need to choose your business more carefully. I have heard a very innovative home decor product from a foreign friend these days. It’s a global pioneer wall painting product, with which people can DIY a full-wall artistic wall painting within 2 hours even they don’t have any painting foundation. Environment-friendly ,Less investment and high profit, you don’t need to open a store and can do the business easily. The initial investment is very little , no franchise fee, no agency fee , only 2000$ first purchase you can be their distributor to start your own business . The new houses , the olds and the commercial places both can be applied to. My friend’s business is going very well and can earn more than 40000 dollars each month. It’s named “varied decor mural” .Now they are looking for distributors and agents around world. I think it would be a good chance to make money. Of course , you can apply a sample before you make up your mind and experience it by yourself.
Would a bank loan me 1 to 10 million dollars to start a business venture?
No.And I say that because your question tells me that you don't have what the Bank wants. In a word "Collateral". Banks won't lend you money unless you have a guaranteed way to pay it back even if your great business scheme goes belly up.And they want collateral that is going to cover their investment and make them money. So if you have 20M in Picasso's or $20M in gold bullion, then maybe you can get a loan for 10M. But your art and real estate will be forfeit to the Bank if you don't pay them back on their terms and timelines. Banks put their money where the risk is low and the return guaranteed. If they've got collateral then they don't care if your idea is stupid because they'll just take your collateral and still make a profit. Now if you have a plan to make lots of money, but you need some seed money to make that happen then what you want is an Angel Investor, not a bank. Angel investors take risks on ideas, people and businesses that they think are going to make it big. They are really gambling with their money. But before they take that gamble they want evidence that your plan is smart. They want to be confident that you will take their money and triple it (or better). If you can prove that, then they'll invest. And they'll take a large % of your company as part of that investment. Angel Investors also want to know that YOU have invested heavily in your idea. They're not going to give you their money unless they know that you're committed. The more your entire life is dependent on the success of this business the happier they will be.
What business can someone start with one million dollars in the United States?
That would be awesome!Here are some businesses I would start with that type of money.Photography (In a large city like New York City)Travel AgencyReal EstateShipping ServicesRestaurantHere is a great question.I have $1 million and want to invest or start a business that would enable me to switch careers. I'm 31 years old, live in a major metropolitan area in California, have no debt, and make $100,000 working as an attorney. What should I do?
I have $1 million and want to invest or start a business that would enable me to switch careers. I'm 31 years old, live in a major metropolitan area in California, have no debt, and make $100,000 working as an attorney. What should I do?
It depends where you live. I would find 3-10 houses near a university, put a downpayment down on each, then rent them out. (number will depend on where you are. In Houston you can almost buy a house near a university for 100k, in California it's a 10% downpayment. You will learn a lot about the landlord business. Best advice, even with students is to run credit checks on those you rent to, and when possible, only rent to those with good credit.If you go to youtube you can get lessons on just about any home repair - toilets, sinks, dripping faucets, washing machines, dryers, etc, etc.Do report those who don't pay. Do become familiar with evicting people; sad to say it will happen. Do learn to keep your rental places clean, painted, and as bullet proof as possible. Don't go overly cheap where you are putting in tainted flooring; do be helpful, kind, but not overly understanding.Most college students are poor but honest; most will pay their rent, albeit late. Do be prepared for having houses sit empty over the summer - which you can alleviate by renting them for a discount.Do make sure they put down a hefty security deposit and cleaning deposit and first and last months rent. Most students know this; they save up.Watch out for nasties like bedbugs, termites, rats, bees, wasps, fire ants. You should be able to get yourself a living wage to begin with; it will increase over time as you spot and buy houses at good prices and learn things the hard way.Or you could buy an empty lot and just build yourself - if the zoning allows it - a small apartment house with 6-8 units. In Houston where I live there is no zoning, so you can build what you like within reason. If you piss off your neighbors by building somehthing that really doesn't go with the neighborhood, you never know what happens: zoning or no zoning, they could make it very dicey for you. Do not forget taxes, do not forget to put money into a repair fund. Do make your tenants sign an agreement to do any repairs that cost less than $400 themselves as part of the rental agreement. Since you are an attorney you should be up on the laws.You might also consider getting your real estate license to save when you are buying houses.
What kind of assets/businesses can make $1+ millions per day?
Any type of business of sufficient size and efficiency can make $1m per day from forex trading to software to retail to property management to sports teams. Look at the Fortune 500 companies and see which ones made $365m profit or more in the past year and you'll have a good list to start with.It's simply a function of the percentage profit of turnover. If you have a company doing a billion dollars a year and your profit percentage is 36.5 or more, then you're making a million a day.