Posted on: 23-07-04 01:14:30
Hi Garvo Gujarati,
What according to you are better business which has potential ? You being local there, you could possibly figure out what kind of vaccum are existing in various areas frequented by you.
Out of your observation, or your instinct, or your experience, any of this thiung can help you determine it.
If you can share some info on this .
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mor
Whenever you experience joy, peace, security, equanimity or purity, it is only because you are aligned with ALMIGHTY.
Quote:
Orginally posted by Garvo Gujarati
Oh, you did mentioned Gas Station.
Now what kind of Gas Station?
Only Gas Station?
With Convenience (that is where it makes sense)
With other related services - like Car Wash, Oil Change etc.
I am not considering Gas Station as good business in Canada. It requires a lot of time and commitment, investment is high and return is not that good.
Good to see your views and ideas. I am planning to buy a Gas station with Convenience store and car wash.
You are not in favour of Gas station, why ? Please suggest something else.
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Rabyte
Please don't cosider me expert on this subject. I don't any of such business. I have so many close friends and relatives doing business in Canada and America, I know something about it and I am sharing the same.
Gas Station with Car Wash and Convenient Store is a good choice. The positive points are:
You don't have to go for customers (If you are franchise of a good company)
If you have large family - all can work on the business
The negative points are:
Huge investment
Long hours (Often 24 hours)
Need for many people - if you don't have big family, you can't always rely on employees and so your family life disturbs
Chances of Robery on Gas Station is higher
Return on Investment is not impressive (According to me, someone with real experience of owning a store should confirm this)
Which business is good?
Well, to answer that, we have to consider many factor. It varies from person to person and circumstances.
Factors:
Would like to stay in big cities only - Can go anywhere in Canada/US
Would like to work only daytime - Can work anytime of a day
Would like to have break on Weekends - Can work on any day of week
Only husband/wife will work on the business - We both will work on the business
My kids are studying in school and I don't want to disturb it - I don't have such restriction
I don't have much money for now so looking for a partner - I will own business on my own
I am looking for business that doesn't need my personal presence - I would be there all the times on anybusiness
I have a small family - I have a large family (that can take part in the business)
I can drive long distance - I don't want to drive much
Choices from above list can narrow down the list of business one should consider.
Examples:
Coin Laundry business doesn't need much physical presence.
Cofee store in the office buildings are having Monday to Friday business only
Motels are mostly outside city
Subways needs more staff and long working hours
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A Proud Indian Canadian
Quote:
Orginally posted by Garvo Gujarati
Please don't cosider me expert on this subject. I don't any of such business. I have so many close friends and relatives doing business in Canada and America, I know something about it and I am sharing the same.
Gas Station with Car Wash and Convenient Store is a good choice. The positive points are:
You don't have to go for customers (If you are franchise of a good company)
If you have large family - all can work on the business
The negative points are:
Huge investment
Long hours (Often 24 hours)
Need for many people - if you don't have big family, you can't always rely on employees and so your family life disturbs
Chances of Robery on Gas Station is higher
Return on Investment is not impressive (According to me, someone with real experience of owning a store should confirm this)
Which business is good?
Well, to answer that, we have to consider many factor. It varies from person to person and circumstances.
Factors:
Would like to stay in big cities only - Can go anywhere in Canada/US
Would like to work only daytime - Can work anytime of a day
Would like to have break on Weekends - Can work on any day of week
Only husband/wife will work on the business - We both will work on the business
My kids are studying in school and I don't want to disturb it - I don't have such restriction
I don't have much money for now so looking for a partner - I will own business on my own
I am looking for business that doesn't need my personal presence - I would be there all the times on anybusiness
I have a small family - I have a large family (that can take part in the business)
I can drive long distance - I don't want to drive much
Choices from above list can narrow down the list of business one should consider.
Examples:
Coin Laundry business doesn't need much physical presence.
Cofee store in the office buildings are having Monday to Friday business only
Motels are mostly outside city
Subways needs more staff and long working hours
Firstly here I would to give you my brief detail so that you can better reply.
I am 40 years old coming with my spouse and four kids of 16,14,9,6 years old. Basically I am in the business from the last 20 years and I can handle account, customer relationship, stock and inventory maintainence etc, and other things which we generally faced in routine business.
I can operate computer very well and handle so many accounting packages, word, excel, power point etc.
Yes of-course I think that my wife and my sons (16,14) can help me in the business, but I am also very much serious about their studies. Therefore I wanted to live in where we can get the proper eductaion facilities. No matter if it is not in the big city.
Yes I am ready to work hard even 7 days a week and 12 hrs. a days for the first 2-3 years, to well establish my self.
I am ready to invest sufficient money in the business, but in starting I wanted to do job in that business in which I am going to enter.
Driving long is not a big problem for me.
Please suggest me with the above said facts
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Rabyte
Garvo ,
And I thought u were a Moderator only !!!
Good valuable pieces of advise . Highly appreciated .
Even I feel that b4 investing 1 shd have working experience in the same business 4 1-2 years 2 get ahang of it and know the ground realities .
Manasvi
Quote:
I am 40 years old coming with my spouse and four kids of 16,14,9,6 years old. Basically I am in the business from the last 20 years and I can handle account, customer relationship, stock and inventory maintainence etc, and other things which we generally faced in routine business.
You have good skills. Since you have kids, only the one who cross 16 can work. That too during vacations or after school hours. However highschool education here is time consuming and most probably they will not get anytime to do anything.
Running a business here is straight forward. Any immigrants can do it. Infact almost 90 percent small retain business in GTA are owned by Asians!
Quote:
I can operate computer very well and handle so many accounting packages, word, excel, power point etc.
Nice to have. Will not make any difference in buying a business
Quote:
Yes of-course I think that my wife and my sons (16,14) can help me in the business, but I am also very much serious about their studies. Therefore I wanted to live in where we can get the proper eductaion facilities. No matter if it is not in the big city.
We are a very small country with very few cities having more than 200,000 population. Now as Toronto (or any big cities) are crowded with desi and many with business mentality, the business economics have gone the other way. The demand for buying a business is more than the busineses itself. And so the Return on Investment is not that good in anywhere of GTA. If you move couple of 100 kms away you will get good businesses with much lower investment. Yet you can get good education for your kids. You can check on internet about the school in that perticular cities.
Quote:
Yes I am ready to work hard even 7 days a week and 12 hrs. a days for the first 2-3 years, to well establish my self.
Than any business is good for you. Subways, Convenience Stores etc. For gas station you have go for day only gas station. Mostly we have 24 hours gas stations. Second this big names don't give gas station to non-experienced person quickly.
Quote:
I am ready to invest sufficient money in the business, but in starting I wanted to do job in that business in which I am going to enter.
Yes you might get job in the field where you want to go.
Quote:
Driving long is not a big problem for me.
Than taxi business is good! Just kidding. You can have flexibility to buying a business in remote place and having residence in a big town.
Best of Luck!
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A Proud Indian Canadian
Quote:
Orginally posted by Manasvi
Garvo ,
And I thought u were a Moderator only !!!
Good valuable pieces of advise . Highly appreciated .
Even I feel that b4 investing 1 shd have working experience in the same business 4 1-2 years 2 get ahang of it and know the ground realities .
Manasvi
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A Proud Indian Canadian
