Small Towns & Business

[FNeu]

As I've gotten older and started paying attention to wealth, investments and just recently business I have had multiple ideas for businesses in my small hometown that I grew up in.

I didn't have any interest in investments or wealth until after graduating college in 2019. I created my own real estate business in 2020 and it has done incredibly well, but I still do everything. But this alone has generated a great entrepreneurial drive in me to start other businesses, ones that I have no experience in.

I have no experience in my specific ideas, but there is a need for different things in my hometown. One specifically I have done some basic due diligence on and initially had an idea for residential use but as I researched more I found there is great potential in B2B/commercial service too as nobody within 2 hours of any direction offers what I am wanting to start.

My town has about 7,300 people in the county seat; and about 12,600 total population in the entire county scattered among 3 other smaller towns. My hometown and the county as a whole has never really had any interest in business or entrepreneurship... in the most recent study conducted for the county (2016) only about 6% said they have business ideas/own a business/want to start a business. There's mostly local businesses and a couple fast food places. Doesn't have any significant manufacturing businesses, distribution warehouses, or anything else really that provide higher pay with skilled labor.

All this to say I have a bunch of ideas as I see some opportunities, but they would all be physical/retail locations and require employees as compared to my current business which is 100% remote and I do everything. I am not sure where to start, but I don't want to wait any longer. Along with these business ideas I also want to get into real estate development as there is a crazy housing shortage for such a small town. I want to learn just some of the basics about setting up physical locations, employing the right people to manage and work for me so I'm not stuck in one place for too long, and to get into other industries of business.

It's my goal to have people in place and work for me while making good profit margins. I also want to grow my hometown as there is a need for housing and businesses, but there is not much currently moving in or starting up. The county and each individual towns have been pushing hard to grow since the pandemic so they are wanting the growth and expansion as well. Anybody from small towns have experience doing feasibility and due diligence in small towns that are ready to grow but just need the right people to get it going?

 

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