Right now I'm leveraging my time and small savings into a few e-businesses as well as small real estate ventures (mobile home investments/real estate wholesaling, etc.) But I don't plan to make millions this way.
It took me about two years to truly put a name on the industry I wanted to enter, but I finally figured out that it's the hospitality industry that's for me. I read Conrad Hilton's biography and realized how interesting the hotel industry is. Then after my sister got a job as a bartender, I met the owner (who is a young entrepreneur) and learned about the business aspects of pubs/bars. Most recently I went to a nightclub (which isn't normally my style) for a fundraiser and I was amazed how packed it was and how lucrative the alcohol sales were. All through this learning phase I kept apartment investing in the back of my mind as well.
But it wasn't until I read about Sam Nazarian that I believed I could do all of these things. Nazarian's company (SBE) acquires and develops hotels, clubs and apartment buildings.
The hospitality industry is interesting to me because the "product" is to provide an enjoyable time. I don't think there are many business models like it.
This type of business is definitely difficult to enter, that's why I plan to start small (pubs before nightclubs, small hotels then large, etc.) but through bootstrapping, savings and creative financing I think I can do it.
It took me about two years to truly put a name on the industry I wanted to enter, but I finally figured out that it's the hospitality industry that's for me. I read Conrad Hilton's biography and realized how interesting the hotel industry is. Then after my sister got a job as a bartender, I met the owner (who is a young entrepreneur) and learned about the business aspects of pubs/bars. Most recently I went to a nightclub (which isn't normally my style) for a fundraiser and I was amazed how packed it was and how lucrative the alcohol sales were. All through this learning phase I kept apartment investing in the back of my mind as well.
But it wasn't until I read about Sam Nazarian that I believed I could do all of these things. Nazarian's company (SBE) acquires and develops hotels, clubs and apartment buildings.
The hospitality industry is interesting to me because the "product" is to provide an enjoyable time. I don't think there are many business models like it.
This type of business is definitely difficult to enter, that's why I plan to start small (pubs before nightclubs, small hotels then large, etc.) but through bootstrapping, savings and creative financing I think I can do it.
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