Thread: Buying an Old 'Bux

A local Starbucks with great earnings* and goodwill is being closed by the licensee. The customers are bummed, as it is the only coffee shop or hang-out for 10 miles in all directions.

The location is for lease.

Should I grab it and create my own coffee shop with the same fixtures/staff/management?

*I am intimately acquainted with the real performance of the biz, because I'm dating the current manager.

Yeah, coffee is NOT my plan, but I wondered if I could incorporate it. I keep trying to explain to my GF that we don't want to be shopkeepers. She keeps trying to explain that she doesn't want to be a millionaire. LOL!

If it will cash flow with management in place why not let it be a part of your empire? As MJ mentioned you could chain or franchise the business or it might just be some additional cash flow. Another possibility would be trading stock if you can buy the shop for a low enough price. For example, you may come across someone who is sick of rental properties and will trade in your favor for a career change into the coffee business.

Be very, very careful with the GF aspect. She may be an excellent manager but if you lose the GF you will lose the manager.

Originally Posted by White8

If it will cash flow with management in place why not let it be a part of your empire?

Yes! And that's what I'm doing: laying the groundwork for an empire.

Originally Posted by Russ H

you do not have a well developed and fleshed out PLAN in place.
Once you do, you will not be distracted by the deal of the day.
Sorry. I know you hate it when I bring this up (over and over . . )

Yeah, that horse is dead.
In accordance with my goals and values: 90% of my energy is in writing/publishing/promoting my eBook right now. 5% is in laying the groundwork for the revenue/opportunities that will come from that. 5% is in creating a presence on the local level.
The coffee shop is tempting, because it is cheap, cashflows, and is turn-key.

But... if owning it is too distracting or dilutes my leverage too much, I won't do it.

^I see where you're coming from, and I definitely appreciate the advice of fastlaners -- which I obviously am not (yet).

I just don't see why grabbing freebies along the way is wrong. I don't want to be 50, saying "why didn't I do that thing that came along when I was 20?"

Along the lines of focus: It seems like the brands I remember are "From the guy who brought you ___!" or "From the same people that made ___!" What's the matter with "From the guy who made that cool little coffee shop downtown!"? I realize it's a laughable parallel, but what is wrong with small successes along the way?

Originally Posted by Russ H

If your e-book was about coffee, or your plans for empire were coffee based, then starting a new coffeeshop in this location makes sense.

So keep it to one industry/sector? I can do that. I suppose it's just remnants of my old investing-style of diversification...

Originally Posted by Russ H

Focus. Focus. Focus.

This question tells me you do not have a well developed and fleshed out PLAN in place.

Once you do, you will not be distracted by the deal of the day.

Sorry. I know you hate it when I bring this up (over and over . . )



-Russ H.

Follow
One
Course
Until
Successful

Don't end up like this guy.. lol

http://snappingphotos.com/wp-content...8ecf8427e.jpeg

Originally Posted by PEERless

A local Starbucks with great earnings* and goodwill is being closed by the licensee. The customers are bummed, as it is the only coffee shop or hang-out for 10 miles in all directions.

Why would a business with "great earnings" and no competition close it's doors?

What am I missing here?

Originally Posted by Peter2

Why would a business with "great earnings" and no competition close it's doors?

What am I missing here?

Ah. The licensing company is in ski resorts, and they are consolidating by closing all outlets not associated with a resort.

I just want to say that Branson of Virgin doesn't focus. He's got his name in all industries. That's what I want! Granted he built up the record store first, so I see the model of focusing first. I hereby accept this advice. I'll focus for now, but I want to slap the PEER brand all over the world later on.

I really have the same feeling as you PEERless although am trying to change to a fast lane approach. I feel that money no matter what business it is from is the same so just get as many cash flowing businesses as possible.

I found yveskleinsky quote interesting because aren't you working on renting cabins and a computer business? I don't know enough about the computer business to know if they are related.

Originally Posted by Russ H

The things you talk about here are not small, Skyler.

They are HUGE time sinks.

FOCUS is key to achieving what you want, FAST.

FOCUS and DIRECTION.

And LEVERAGE (in that order).

If your e-book was about coffee, or your plans for empire were coffee based, then starting a new coffeeshop in this location makes sense.

If not, then it's just noise that takes you away from your path.

The more you are attracted by bright shiny investment objects (here!, then there!), the more they will distract you.

Yeah, it's fun. But it's the equivalent of making a car do donuts;

You just go in circles, fast.



That's the real irony.

Without focus and direction, you could get to 50 and say,

"Where the hell am I?

How did I get here?

How come I never got rich?!?"

-Russ H.

http://www.youtube.com/watch?v=T2tP606HkYI

I'm beginning to think Skyler may not be the only one focusing improperly lately. I've been noticing myself struglling in this area too. I think sometimes creativity can get the best of you until you have learned how to manage it. Any other strategies for this in particular other than the planning threads?

I'm assuming the plan master (Russ ) would direct us to The Plan thread for all additional inquiries instead of here?