Administrator
Administrator
This is not store related but it's the model I used and what I have seen multiple operators use to build incredible wealth.
Store #1. Probably going to have to get in on a lease if you have limited money. Run it long enough to pay off any business loans you have.
Save your money for 4-5 years until you can scrape together enough for at least 10-20% down to buy one with the real estate. If store #1 is good take on an operating manager and give him 20-30% of the net and take on your second store. If store #1 is just 'ok' sell it and use those funds to help with the purchase of store #2 which will have the real estate.
Run store #2 until you have enough money for a down payment on store #3. Again, if store #2 is great take on another working partner to run it and you take on store #3. This entire process will take under 10 years but it's an incredible wealth building tool. If you play your cards right you don't sign new supply agreements and once you have 10 or so stores you start looking into becoming your own distributor.
Best of luck
Store #1. Probably going to have to get in on a lease if you have limited money. Run it long enough to pay off any business loans you have.
Save your money for 4-5 years until you can scrape together enough for at least 10-20% down to buy one with the real estate. If store #1 is good take on an operating manager and give him 20-30% of the net and take on your second store. If store #1 is just 'ok' sell it and use those funds to help with the purchase of store #2 which will have the real estate.
Run store #2 until you have enough money for a down payment on store #3. Again, if store #2 is great take on another working partner to run it and you take on store #3. This entire process will take under 10 years but it's an incredible wealth building tool. If you play your cards right you don't sign new supply agreements and once you have 10 or so stores you start looking into becoming your own distributor.
Best of luck
