Like those mom and pop pizza shops you see 10 of in shitty small towns. Those ubiquitous Chinese takeout places, used car lots, nail salons, corner liquor stores, etc.
There just seems to be so many of them in general suburbia, so much competition. I’d love to just see the balance sheets of these types of businesses. Are the owners typically rich or just regular people investing all their money and time into their business?
Anyone have experience or know anyone with experience in these?
They are all money laundering schemes. No one of them have customers and they only accept cash.
Ethan Williams
They are all Russian spy operations. Never buy anything from them. Only shop at Wal Mart.
Evan Parker
The places run by asians have to be making money, though it seems like they have a lot of under the table work going on. Most of the other "I always dreamed of owning a cupcake shop" type vanity projects shutter within months.
Jordan White
How's the CIA money?
Elijah Turner
They are literally money laundering schemes for the triads and wealthy Chinese that want to stash their money away from the CCP's control. Thats why most asians shops only accept cash and most times don't have tables/chairs.
Nathan Mitchell
Money laundering operations or hobbies for bored rich people
Jonathan Evans
They make anywhere from 25k - 150k profit a year.
Elijah Johnson
The ones around here are all Korean and they're legit, at least in the sense that the food is pretty good and you don't have to pay cash. Might be different in other places though.
Jacob Sanders
friend runs accountants has about 60 firms on his books. nearly all these firms make ZERO profit. they barely pay their owners a wage.
Elijah Lee
I've been laid off my last 3 jobs because I choose to work at small business that rich people startup.
Carson Carter
Most of those places make under 250k a year and are run by the owner and their family/friends. Life as an owner operator is extremely hard and usually means they are forced to work 6-7 days a week to save on labor costs. Many of those businesses will not last longer than a decade but some survive due to tenacity and positioning. The stereotype of the Korean/Arab store owner exists because of the many hard working first generation immigrants that save up and establish a bodega or restaurant and work there for a lifetime to leave their children with something.
TLDR: they don’t make very much money at all after they are done paying for the overhead of running the place.
Jaxon Bell
Hmm interesting
Why run a business if it's barely turning a profit tho? It's not like a tech startup that has potential to blow up and be huge.
Jake's House of pizza on Main st. uptown has ZERO potential to ever be wildly successful
James Lee
it's pretty simple, would you rather bust your ass for someone else, or would you rather own your own business?
Julian Mitchell
I'd rather work 40 for someone else than 100 for myself, any day.
Joseph Clark
Pathetic...
Benjamin Davis
This pretty much.
The owner maybe makes 50-60k after all expenses are said and done and they're working 6-7 days a week long hours. They're taking on enormous risk because if it goes out of business they're unemployed. I'm a wagie making about that much but i work far less. In a way I respect what they're doing and envy it. But in another way I can't see myself leaving my job to pursue that.
The hope for the business owners is to eventually sell the company for a couple hundred thousand
Connor Taylor
Chinese take out usually only net $3000-4000 for the owner, if he works there, if the sales volume is around 30,000 or below. After that, any additional sales have higher profit margins, since the flat major expense such as rent won't scale with your sales.
A Chinese restaurant has next to profit margin for the first 30k of sales volume, after that it is fairly profitable. IE, a chinese take out place clearing 60k a month will net about 15k a month for the owner. This is assuming the owner works there full time. The hours are long and the labor is fairly grueling.
Liquor store typically have a 10% profit margin. The inventory is very expensive, and typically cost 300k~ in terms of capital. And if you're buying an established business. Expect to buy an additional 100k for every 10k of sales the business pulls per month, not including the cost of the inventory.
Bentley Butler
>next to no profit margin
Oh, it typically cost 120k to establish a new chines take out place. Much cheaper if you buy a take out place with sales volume below 30k~ a month and much more expensive if you buy a place with business above 30k~.
I work in real estate.
Nathaniel Adams
One word: location
Sebastian Flores
I have a small business laying tile in kitchens and bathrooms. After expenses I make about 50 bucks an hour. Not too bad and beats going to an office. What do you want to know?
Lucas Gutierrez
You still hang out here too? I'm the furniture fag from way way WAY (2015) back.
Jackson Carter
Been here since Jow Forums first formed baby.
I forget did you deliver furniture?
Yeah the tile game is decent. I cut back to 2 days per week and I still pull about $1,200 a week.
Meh. Rather do this shit than sit in a cubicle and be bossed around by boomers
Julian Reed
Credit cards cut pretty deeply into your profit margin.
Most transaction typically take a 3% cut with a 50cent or so flat fee. So if you pay for a $1 soda with your card, the credit company will take 53 cent of that sales, meaning it will be a net loss to make that sale. It is why many places have a credit card minimum.
The table thing have to do with state regulation. If you have more than X or any amount of table, you must have gender separated bathrooms and other shit. So many opt not to have any, if their business is primarily take out.
Money laundering typically uses shell company, with no physical location.
