Quote:
Originally Posted by look 171
I say go for it. Start small and learn from there. They are young enough to start over again if they fail. My father always say to me, " if you fall, pick up the pieces and go and get a job and save enough money then do it again". I think the biggest issue is sharing a percentage with the owner of the building or property owner. My friend's brother-in-law has one of those gourmet coffee cart down town LA servicing the CEOs. $800+ bucks change hands by 1-2pm, daily. This includes tips. The biggest issue again, is profit sharing with the building manager or owner.
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Yep. Anyone who has never failed has never tried anything.
I remember meeting a south Asian guy in NYC when I lived there 20 years ago who started out w one hot dog cart. It was a classic immigrant story; in time he was making $500 a week and it was the most $$ he'd ever seen in his life, (he was from India I think). Then he fine tuned the business and he was making $1k a week. He wanted more, so he saved and bought another cart, now he was making $2k a week. Then another, then another, etc.
I did some work for him on a building, (don't remember what but I think it was finishes), he owned a house and had a large family, the whole enchilada. It was a classic American Dream story and it really stuck with me. We biotch and moan about taxes and regulations here but at least you can make a buck. Guys like this come from a place where there is no demand side of the equation, (everyone is broke), and think it's the promised land. It was an interesting perspective.