Good time to start a business?

[Shaun @ Tru6]

Might sound counterintuitive but I think now (really 3 months ago when vaccines were being announced) is a great time to start a business. With the country opening up, people want to spend and feel normal again.

Restaurants are still dicey but I think everything else is up for grabs. I see a huge entrepreneurial movement in 2021.

[wdfifteen]

^^
I agree. This will be a great reset and a great time to get in on the ground floor of something.

[LWJ]

Yes!

[varmint]

Doing what?

Munitions? IT?

[MBAtarga]

I think I'll start a company offering refurbishment of classic car parts - you know - plating, polishing and paint treatments!

[cassisrot]

The Spanish flu pandemic was followed by the roaring 20’s. Of course the roaring 20’s were followed by the Great Depression. Just saying.

[Shaun @ Tru6]

Originally Posted by MBAtarga

I think I'll start a company offering refurbishment of classic car parts - you know - plating, polishing and paint treatments!

Please do! Things are piling up here, it would be nice to have someone else doing this.

[cabmandone]

Originally Posted by afterburn 549

Nope.
No
and nope
Not unless you have a very specific niche and the niche clientele have the monies and want to spend it in this time of big uncertainty.

There is money being spent like it's growing on trees and it doesn't have to be a niche market. Houses, cars, construction equipment, powersports... all NUTS. Demand is good and profits are better right now. My problem is buying, not selling. Hell, I just sold a UTV I've owned for three years for what I have in it and it sold in one day. There is A LOT of money being spent right now. I have a set of tracks for my new UTV that I have for sale for $2500 and have three people interested in buying them. It doesn't matter if it's a need or a toy right now, it's gonna sell.

I think the difficult thing for any new business right now will be getting funding. Not sure if lending has tightened down for small business startups now or not but I would think it has.

[cabmandone]

Surface stuff? I sold a 40K piece in January and a 38K piece last week.. Only reason I didn't sell more is because I didn't have more to sell! Both of those pieces I could have sold several times over. One was a toy for a property owner. The other was a tool for around the farm. There is A LOT of money out there. I don't know where it's coming from but it's there and I don't see it going away anytime soon unless they make some drastic changes to Section 179 rules which won't happen anytime soon.

[LWJ]

The weird thing? COVID changed the world in countless ways that I am still trying to process. Sunday I went with a buddy to buy reclaimed wood to make a table. The reclaimed building material place was EMPTY. Last I saw it, there were trainloads of junk.

There is huge demand. It just needs to be addressed and tapped.

[VINMAN]

Construction is in a strange place right now. Supposedly housing and building is booming, but many of your average homeowners are canceling or putting projects on hold because material costs are so prohibitively outrageous currently.


.

[jyl]

In general, when the economy is turning the corner and starting to accelerate upward is a good time to start a business.

Depends on the business and local conditions. Labor shortage is artificial, shouldn't last past summer. Materials price inflation is probably here for longer.

From the wealthiest to the middle class, on average households have more money than a year ago, and are willing to pay higher prices unless you are selling something easily available off Amazon. Low income households are mixed, but with stimulus now, stimulus later, and pressure building toward some minimum wage increase, that may not be an awful market.

Interest rates are low now but won't stay this low, so be wary of models dependent on future debt issuance.

[911 Rod]

I think now is a good time to buy an existing business that is having financial problems. COVID related death kind of thing.

[911boost]

I agree with what is being said so far. It seems that "toys" are selling like crazy right now.

Starting a business is a lot of work, but if you found a good niche, I bet commercial real estate deals can be made right now.

[Tobra]

What country are we talking about?

[Sooner or later]

The overall economy is booming. The service sector has been slammed. We could hit 10% gdp growth this quarter.

https://news.google.com/articles/CAIiELnD6eZx622-xnUXxtadAPwqGQgEKhAIACoHCAow2Nb3CjDivdcCMP3ungY?hl =en-US&gl=US&ceid=US%3Aen

[wdfifteen]

Didn’t Burnerboy have a lot to say on this thread? Seems he predicted a lot of gloom and doom. Now his posts are gone. No courage of his convictions?

[Shaun @ Tru6]

Wish I could do my international sandwich food truck but not going to happen this year. Maybe '22.

[Instrument 41]

What about a business selling utility trailers and industrial truck upgrades, such as flat beds, utility bodies, etc....

[cabmandone]

Originally Posted by Instrument 41

What about a business selling utility trailers and industrial truck upgrades, such as flat beds, utility bodies, etc....

I've been pondering picking up a line of trailers. It would go hand in hand with selling construction equipment and I'd pick up the guys buying UTV's as well. Seems like a low profit endeavor though. There's competition everywhere and it seems pretty cut throat from my experience in buying trailers to haul my loaders around.