Ken @kenthecoder: Do you have any specific advice on starting traditional brick & mortar biz? Like boutique resort or niche car rental company.
ANSWER:
Yes. There are many websites that contains lists of businesses for sale. There are also niche websites and magazines that contain listings for businesses for sale. Follow the “three Ds”: Death, Disease, Divorce. If an owner of a business has a “D” then his business will be cheap to buy. There are various innovative ways you can finance buying a business from someone with a “D”. This is not exploitation. It just is what it is. They want to sell as badly as you want to buy. Exploitation for one is salvation for the other.
Have him partially self-finance your acquisition so you make sure that there is a smooth transition of current customers and employees.
Then figure out how you would improve business. Presumably you’ve already done that, else there’s no point in buying the business. Are there ways you can use social media for instance. Or Groupon to get new customers. Or a Facebook fan page to get people who use your service to “Like” you so their friends can see. And so on.
Then, as profits grow, get a bank to finance more growth (more sales reps, more outlets, more inventory, etc).
Then repeat.