If you had 500k, what business would you start ?

impolyt_one · Jan 16, 2011

If I had 500K liquid to play with, I'd start one of the following, myself:

-a ramen place where I could in London, with very serious authenticity, stay open really late, like til 5 or something
-an izakaya place that would serve as a pre-bar/afterbar for clubgoers, maybe in Amsterdam or Belgium?
-a Japanese cocktail/whisky bar in LA or Seattle, or another major US city or Vancouver or Toronto where I could really hit hard for not much investment.
-buy up a bunch of factories in Korea and do what I can with them

globetrotter · Jan 16, 2011

two businesses, in parallel

1. international business consulting company that I would run

2. gelato business that my wife would run

nice diverse portfolio

L.R. · Jan 16, 2011

Actual honest answer here: Ice cream store.

The mark up on ice cream is ridiculous, you don't even need to work there, just hire some trustworthy high school kid to run it while you're away. If you do well, it's easier to expand. There's family from my area, 3 sons. 1 doctor, 1 HBS grad, and 1 ice-cream parlour owner. Guess which one takes a 3 month vacation in Florida every winter?

If I was truly rich, I would open up a second hand book store. It'd never turn a profit obviously, but would be such a great and fun thing to own and run.

aj_del · Jan 16, 2011

Originally Posted by globetrotter

two businesses, in parallel

1. international business consulting company that I would run

2. gelato business that my wife would run

nice diverse portfolio

serious q, do you think getting something like a consultancy would require so much capital to start ? Wouldnt a consultancy be revenue generating and at least covering expenses from the very start ?

Rugger · Jan 16, 2011

I'm passionate about making more money, so I would open a fast food restaurant.

Harold falcon · Jan 16, 2011

I would start a charitable organization. Harvey_Birdman's Home for Wayward 18 Year Old Girls.

Joffrey · Jan 16, 2011

Originally Posted by aj_del

serious q, do you think getting something like a consultancy would require so much capital to start ? Wouldnt a consultancy be revenue generating and at least covering expenses from the very start ?

You'd probably need the capital to pay bills until you start generating the revenue

MrG · Jan 16, 2011

I'd start a consultancy that caters to local governments.

ArteEtLabore14 · Jan 16, 2011

Originally Posted by clee1982

it's that cheap?

If you go low enough, yes.

Merlino · Jan 16, 2011

Originally Posted by Jodum5

You'd probably need the capital to pay bills until you start generating the revenue

And then some more, seeing as how most companies will try and make you wait for your money for as long as possible. I've seen enough companies go under because of poor debtor management.

The good thing about a consultancy firm though is that as long as you're connected, initial investments are minimal.

fredfred · Jan 16, 2011

Few of the ideas mentioned here require $500K. You can do a lot with $50K.

If you have $500K then you can put in place infrastructure for a larger operation. Or hire a team to do (something). A consultancy can be started for about $1,000. It requires a website, business cards, and a telephone. And contacts willing to give you jobs.

Piobaire · Jan 16, 2011

Originally Posted by BCPilotguy

I'd buy a Tim Horton's frachise in Canada. Incidentally you need 500k to start one. They are a licence to print money up here.

This is absolutely true.

I would open up my wine and cocktail lounge with an attached retail component.

GQgeek · Jan 16, 2011

Originally Posted by Piobaire

This is absolutely true.

I would open up my wine and cocktail lounge with an attached retail component.

thought you said you'd never do that because making a job of it would ruin the enjoyment?

I'd love to own a wine bar and a bistro or something. I generally enjoyed the time that my parents owned the hotel, despite some of the headaches, and i was pretty heavily involved in it for a little while.

GQgeek · Jan 16, 2011

Originally Posted by aj_del

serious q, do you think getting something like a consultancy would require so much capital to start ? Wouldnt a consultancy be revenue generating and at least covering expenses from the very start ?

No. A guy like G would likely have to quit his job, forfeiting a comfortable six-figure income. Sure the consultancy itself might cause little or nothing to run, but the salary he's passing up would hurt, unless he could have clients lined up for when he quit his job. Don't think it really works like that for most people though.

Piobaire · Jan 16, 2011

Originally Posted by GQgeek

thought you said you'd never do that because making a job of it would ruin the enjoyment?

I'd love to own a wine bar and a bistro or something. I generally enjoyed the time that my parents owned the hotel, despite some of the headaches, and i was pretty heavily involved in it for a little while.

It's certainly a grave danger. I'm getting older though and seem to be growing more detached about certain work things. I'm thinking I could do it now and still enjoy it. Part of what I like about wine, charcuterie, cooking, is sharing my efforts with others. I think this would preserve the enjoyment.

If you had 500k, what business would you start ?

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