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How to start your own local busi...#2
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Hello again! This segment will close the How To... article; for now.
The past week has been very enlightening; to say the least. I met with a Senior Project Manager for a major corporation that did the type of business construction that I had hoped to go into. We talked for an hour or so he ran some numbers to show me the statistics for my selected location, the type of business, and the demographics for the area. The cost of the construction was figured in and the interest for the bank loan, etc. and what I saw was something that is currently impossible for me to do. My portion would have been 20% (that is only if the investors that I sought would be backing me) and the total was $400,000! Yes you saw it correctly Four Hundred THOUSAND dollars! Business has it's perks but you have to have them in order to get them.
Needless to say I am going to stick with my current education goals and hopefully at some point I will win the lottery and be able to swing the amount required.
Now- don't get me wrong- some of you may have started right along with me to build some ideas and get your dream started. DO NOT QUIT!! Just because mine has been put on the back burner does not mean you need to quit. You may have the next million dollar business! Keep on going and think positive.
This was a good example of what it takes in todays market to become a business owner. $$MONEY$$ It seems like an impossibility to do. The economy is struggling right now. In turn, making new prospects a bit more difficult to conquer. With time things will improve and so will the general Arizonans financial standing. At that time it may be a better idea to attempt my dream again.
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