I have a multi million dollar idea.....

**Murder after Midnight** · 01-02-2016, 08:10 PM

It would pretty much make me a millionaire over night........Is there any way i can get funding? Grants etc....... I need about 250k-350k to start it.

**5.0THIS** · 01-02-2016, 11:31 PM

Walmart isn't a franchise company. All of the stores are corporate owned and operated, and they decide when and where they want to open new stores. Unless you're looking into purchasing the piece of property where you think they may want to build a store, although that's an incredible risk unless you have inside information (you wouldn't be the only one with that information, I guarantee it)

**Murder after Midnight** · 01-03-2016, 12:34 PM

Originally Posted by 5.0THIS

Walmart isn't a franchise company. All of the stores are corporate owned and operated, and they decide when and where they want to open new stores. Unless you're looking into purchasing the piece of property where you think they may want to build a store, although that's an incredible risk unless you have inside information (you wouldn't be the only one with that information, I guarantee it)

perhaps i was not clear, i'm not looking to open a walmart. I was using that as a example i know they are corporate owned. what i was saying is that i have identified a extremely successful store(with a particular inventory) and there happens to only be one of these store in the state of mi. I would simply like to open a similar store in my area.........

**Murder after Midnight** · 01-03-2016, 12:56 PM

Originally Posted by 5.0THIS

Walmart isn't a franchise company. All of the stores are corporate owned and operated, and they decide when and where they want to open new stores. Unless you're looking into purchasing the piece of property where you think they may want to build a store, although that's an incredible risk unless you have inside information (you wouldn't be the only one with that information, I guarantee it)

BTW after rereading my orginal post......it sounded very confusing so i edited it.......

**5.0THIS** · 01-03-2016, 10:50 PM

Franchise requirements for most chains are often times pretty involved. There's usually more to it than having the start up capital. In order to be granted franchise rights, I hope you've got experience in store ownership and management, and good knowledge about the inventory you'd be dealing with. Most larger corporations aren't going to give a franchise to any person that has the money.

As far as generating the startup capital, you're going to have to get a loan or earn it yourself, pretty simple. Banks aren't going to be wild about lending money when you don't already have guaranteed franchise rights, and they probably wont grant franchise rights unless you've got the capital in hand. It would be an incredibly tough sell for anyone to loan that amount of money without any tangible collateral

**35th-ANV-SS** · 01-05-2016, 10:19 AM

Pretty much all of that.

You might be better off creating a new brand all-together, marketing it to see the feedback (there's tons of avenues now) and then and only then decide whether you're willing to take the risk versus the potential reward.

Most people who try to start businesses fail, and for good reason. They don't have the skills, schooling, or overall experience of how to run a business and to make one successful. It requires a lot of time and effort, managing skills, marketing, accounting, sales, social skills, etc. and can't be a part time job if you're wanting it to become something worth your time.

There's always Shark Tank also lol.

At any rate, good luck.

**0rion** · 01-05-2016, 10:55 AM

Not to keep beating the "you have no chance" dead horse but you need investors.....preferably 1 really rich investor. You're also going to need some qualifications before people hand over that kinda money. You're also going to need collateral. When my brother bought his first restaurant it was all on the line so to speak. If that first one would've failed he would've been living with me and taking cabs to work....he would've had nothing. If it was easy everyone would do it. Do your homework and exhaust every means of help out there. Also don't trust your investor(s). There's a reason they're rich and usually they leave a wake of people with good ideas that they capitalized on.
When my brother bought that first one at the first meeting when they were starting the purchasing it was him and about 6 lawyers from his investor. He was fortunate in that the seller had stipulated he wouldn't sell unless my brother was involved because he wanted his brand to be taken care of and he had years of history with my brother but under some other circumstances a single guy against a room full of lawyers might not have worked out real well.

**Murder after Midnight** · 01-06-2016, 01:47 PM

Originally Posted by 35th-ANV-SS

Pretty much all of that.

You might be better off creating a new brand all-together, marketing it to see the feedback (there's tons of avenues now) and then and only then decide whether you're willing to take the risk versus the potential reward.

Most people who try to start businesses fail, and for good reason. They don't have the skills, schooling, or overall experience of how to run a business and to make one successful. It requires a lot of time and effort, managing skills, marketing, accounting, sales, social skills, etc. and can't be a part time job if you're wanting it to become something worth your time.

There's always Shark Tank also lol.

At any rate, good luck.

That is the plan to create a similar but not exact copy of that store i'm talking about so there will not be any franchising need, i should of made a clearer better understanding orginal post.......my bad

**Murder after Midnight** · 01-06-2016, 01:49 PM

Originally Posted by 0rion

Not to keep beating the "you have no chance" dead horse but you need investors.....preferably 1 really rich investor. You're also going to need some qualifications before people hand over that kinda money. You're also going to need collateral. When my brother bought his first restaurant it was all on the line so to speak. If that first one would've failed he would've been living with me and taking cabs to work....he would've had nothing. If it was easy everyone would do it. Do your homework and exhaust every means of help out there. Also don't trust your investor(s). There's a reason they're rich and usually they leave a wake of people with good ideas that they capitalized on.
When my brother bought that first one at the first meeting when they were starting the purchasing it was him and about 6 lawyers from his investor. He was fortunate in that the seller had stipulated he wouldn't sell unless my brother was involved because he wanted his brand to be taken care of and he had years of history with my brother but under some other circumstances a single guy against a room full of lawyers might not have worked out real well.

You are correct sir...........but it's my dream and if it doesn't happen i may be working for people the rest of my life.....any that's is the scary's thing ever lol
btw what happened with your brothers resturant business........

**5.0THIS** · 01-06-2016, 02:13 PM

Originally Posted by Murder after Midnight

That is the plan to create a similar but not exact copy of that store i'm talking about so there will not be any franchising need, i should of made a clearer better understanding orginal post.......my bad

Ok, so this is simply you want to start your own business. Others have already touched on what starting your own business entails (and there's a ton of reading out there you need to do on the subject). There are no doubt an endless number of books on the subject as well. I'd recommend reading a few.

As far as your specific idea, a couple of things to keep in mind: You'll be competing with an established brand. Why are people going to buy from you and not them? Even in the case where there's an excess of business from customers, you still have to give them a reason to shop with you. Are you going to undercut the other guys on cost to establish yourself? I hope your overhead is lower than theirs, otherwise you're going to need to operate on thinner margins. And speaking of overhead, are you going to be obtaining your inventory at the same prices as the established business will? Probably not, at least at first. Especially considering your competitors likely have multiple stores and buy inventory in larger quantities than you, hence getting a better deal pricewise.

All of that is of course secondary to what will be the biggest hurdle to overcome in the beginning: funding. Go read. A lot. And then some more. Start taking business/finance/economics classes in your spare time. Take the time to put together a full tilt business plan that can convince a bank to make you a small business loan. Or call rich relatives. But the same thing will apply with them: you have to convince them that not only will you be able to repay any loans, but that they can make money off of the venture as well, which is why anybody invests money in someone else's idea. Otherwise this whole thing is elementary. We could all be billionaires with a Donald Trump inheritance and some fundamentally sound investing strategy. Although quite frankly he's a horrible example as his businesses have endured four bankruptcies and he's not the elite business person that so many have anointed him as.

**0rion** · 01-06-2016, 02:32 PM

Originally Posted by Murder after Midnight

You are correct sir...........but it's my dream and if it doesn't happen i may be working for people the rest of my life.....any that's is the scary's thing ever lol
btw what happened with your brothers resturant business........

successful.....they bought a 2nd one a few years ago. He's shitting in high cotton right now.....never goes to work anymore and still making tons of cash.

Another thing about an investor.....with his first store it was a 5 year deal basically to buy out the investor (whom he went 50/50 on the 2nd place with). The investor got his money first before all else. They're gonna get their money whether the business is succeeding or not. It all worked out for my brother but there was a lot on the line.

**Murder after Midnight** · 01-07-2016, 05:07 PM

Originally Posted by 5.0THIS

Ok, so this is simply you want to start your own business. Others have already touched on what starting your own business entails (and there's a ton of reading out there you need to do on the subject). There are no doubt an endless number of books on the subject as well. I'd recommend reading a few.

As far as your specific idea, a couple of things to keep in mind: You'll be competing with an established brand. Why are people going to buy from you and not them? Even in the case where there's an excess of business from customers, you still have to give them a reason to shop with you. Are you going to undercut the other guys on cost to establish yourself? I hope your overhead is lower than theirs, otherwise you're going to need to operate on thinner margins. And speaking of overhead, are you going to be obtaining your inventory at the same prices as the established business will? Probably not, at least at first. Especially considering your competitors likely have multiple stores and buy inventory in larger quantities than you, hence getting a better deal pricewise.

All of that is of course secondary to what will be the biggest hurdle to overcome in the beginning: funding. Go read. A lot. And then some more. Start taking business/finance/economics classes in your spare time. Take the time to put together a full tilt business plan that can convince a bank to make you a small business loan. Or call rich relatives. But the same thing will apply with them: you have to convince them that not only will you be able to repay any loans, but that they can make money off of the venture as well, which is why anybody invests money in someone else's idea. Otherwise this whole thing is elementary. We could all be billionaires with a Donald Trump inheritance and some fundamentally sound investing strategy. Although quite frankly he's a horrible example as his businesses have endured four bankruptcies and he's not the elite business person that so many have anointed him as.

Thanks for the info man!

**Murder after Midnight** · 01-23-2016, 02:10 PM

Originally Posted by 0rion

Not to keep beating the "you have no chance" dead horse but you need investors.....preferably 1 really rich investor. You're also going to need some qualifications before people hand over that kinda money. You're also going to need collateral. When my brother bought his first restaurant it was all on the line so to speak. If that first one would've failed he would've been living with me and taking cabs to work....he would've had nothing. If it was easy everyone would do it. Do your homework and exhaust every means of help out there. Also don't trust your investor(s). There's a reason they're rich and usually they leave a wake of people with good ideas that they capitalized on.
When my brother bought that first one at the first meeting when they were starting the purchasing it was him and about 6 lawyers from his investor. He was fortunate in that the seller had stipulated he wouldn't sell unless my brother was involved because he wanted his brand to be taken care of and he had years of history with my brother but under some other circumstances a single guy against a room full of lawyers might not have worked out real well.

Can you go more into detail about your brothers resturant? What type? More about what he went through in detail to get it open.........

**5.0THIS** · 01-23-2016, 04:02 PM

So when is the Detroit MegaPorn Emporium opening?

**Murder after Midnight** · 01-23-2016, 06:54 PM

Originally Posted by 5.0THIS

So when is the Detroit MegaPorn Emporium opening?

HAHAHAHA, well played sir.......that is a respectable own.

**5.0THIS** · 01-23-2016, 07:48 PM

Originally Posted by Murder after Midnight

HAHAHAHA, well played sir.......that is a respectable own.

Bunny Ranch Detroit "massage parlor"?

**Murder after Midnight** · 01-23-2016, 07:50 PM

Originally Posted by 5.0THIS

Bunny Ranch Detroit "massage parlor"?

LOL I would love to tell you.....as i get close to opening i will come here and give you guys all the details........thanks for the support

**35th-ANV-SS** · 01-23-2016, 07:55 PM

**Murder after Midnight** · 01-23-2016, 08:31 PM

Originally Posted by 35th-ANV-SS

http://cdn.meme.am/instances/42779387.jpg

LOL

**Murder after Midnight** · 01-26-2016, 02:43 PM

Update: So i spoke with the leasing company they said they willing to split the place up and lease out a smaller space of it, for a 1/3 of the price.......this has me thinking, i'm gonna have to go back to the books and see if this thing can be started for 125k...........if so i could prolly start it on a smaller scale and expand later.....while still having the smoking hot location and I would be able to come to the table with my cash/plus a small loan and not have to deal with investors..........i will keep you guys updated.........