steve the plumb
In Memoriam
Hop I forget criminals prefer night time activity
Hop's 800 gallon rebirth
- Thread starter Hop
- Start date
cato
New England
WoW! Spent the whole day reading through this thread all pumped up. Then I got to pg 36. I don't know what to say now. Hop, I wish you the best. You'll be back BiG in time. 
I know your too addicted not to. :lol: Best of luck buddy. :thumbsup:
On a side note...steve the plumb, so sorry to hear about your wife.
I know your too addicted not to. :lol: Best of luck buddy. :thumbsup:On a side note...steve the plumb, so sorry to hear about your wife.
jnarowe
New member
quit it with the education crap and get down to business. You have a lot of potential and so many open doors. Just making a deal with law enforcement to get rid of all their seized reef related property could give you a decent living....you are already on the right track, you just need to grab the bull by the horns and kick him in the nuts.
:lol: Thanks for the vote of confidence, but I really need to make close to what I was before. There is no market here for what I want to do, so I need to get my feet wet and get some experience in other levels. Right now I don't think I could find anything within $10 an hour of what I was making. And to start a business, I need some capitol up front...
jnarowe
New member
hmmmm...always stumbling blocks, but you've got a strong will. Capital is an issue, but you know I started my store with $20K cash and now it's worth over $500K. Of course, now the banks want to get involved...ticked me off that they wouldn't loan me the $20K when I had it in cash, and now they are all over me.
jnarowe
New member
you can always get in touch on that. I am more than happy to help you develop a business plan and the steps needed to execute it.
A while back I had a guy interested in buying my store. He went to a bank and they wanted him to put up $40K. He said that if it was $20K he might do it, and I, knowing how old he was and a basic understanding of his financial picture, ask him why he doesn't take it out of his house. His house was paid for, and that would be a very low interest way of funding the purchase.
His response was that he wasn't willing to risk using the house as collateral, and I told him that he probably shouldn't be getting involved in business then. If he couldn't take $40K out of his house to make $100K+/year, then he wasn't the entrepenuerial type and should do something else.
Another guy came to me a couple of weeks ago. He talked to my wife about buying our store, and she sent him to me. Over the phone he offered me $200K and I told him we really weren't in a position to sell, having just dumped $130K+ into the expansion. He asked if he could come and speak to me, which I OK'd.
When he came to visit, I told him again that we were not really interested in selling and that a minimum purchase would be at least $400 - $500K. He then said, "400 would be fine." and asked me to value it. I couldn't believe this guy had no numbers but was agreeing to $400K without even looking at the books. I then explained to him that there is no reason for us to sell unless he made us an offer that we couldn't refuse, and until such time, to leave us alone. I certainly wouldn't take fair market value @ 2.5x profit just so I have to go start something else.
When you do start something, make sure that it is high margin single location or low margin and easily replicated. What you want to do, is build equity.
A while back I had a guy interested in buying my store. He went to a bank and they wanted him to put up $40K. He said that if it was $20K he might do it, and I, knowing how old he was and a basic understanding of his financial picture, ask him why he doesn't take it out of his house. His house was paid for, and that would be a very low interest way of funding the purchase.
His response was that he wasn't willing to risk using the house as collateral, and I told him that he probably shouldn't be getting involved in business then. If he couldn't take $40K out of his house to make $100K+/year, then he wasn't the entrepenuerial type and should do something else.
Another guy came to me a couple of weeks ago. He talked to my wife about buying our store, and she sent him to me. Over the phone he offered me $200K and I told him we really weren't in a position to sell, having just dumped $130K+ into the expansion. He asked if he could come and speak to me, which I OK'd.
When he came to visit, I told him again that we were not really interested in selling and that a minimum purchase would be at least $400 - $500K. He then said, "400 would be fine." and asked me to value it. I couldn't believe this guy had no numbers but was agreeing to $400K without even looking at the books. I then explained to him that there is no reason for us to sell unless he made us an offer that we couldn't refuse, and until such time, to leave us alone. I certainly wouldn't take fair market value @ 2.5x profit just so I have to go start something else.
When you do start something, make sure that it is high margin single location or low margin and easily replicated. What you want to do, is build equity.
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Once I get that figured, I'll be set! I just don't think I want to do it here, but I have to get my ducks in a row before my departure!Steeltowndubber
New member
Wow Hop, sorry to here about the challenges you're facing. Things were coming along nicely.
Best of luck and I'll be sure to keep my eyes open for your next build.
Rich
Best of luck and I'll be sure to keep my eyes open for your next build.
Rich
Well I got to thinking that this thread should close. Although there may be (this is subjective)useful info in it, there is no reason to keep dragging it on!
So I'm going to move all conversation, updates and stuff back over to Hop's 125 gallon nano... I hope everyone will jump over there if there are any questions etc
To end I thought if melev can post pictures of himself in white socks and dark shoes at the DFW Reef club gathering... I would post the only pic ever posted on the net of me without a uniform on... Take some mystery out of it as jnarowe and mountain reef are the only ones I've ever met face to face:lol:
Cya on the other side!!!!
So I'm going to move all conversation, updates and stuff back over to Hop's 125 gallon nano... I hope everyone will jump over there if there are any questions etc
To end I thought if melev can post pictures of himself in white socks and dark shoes at the DFW Reef club gathering... I would post the only pic ever posted on the net of me without a uniform on... Take some mystery out of it as jnarowe and mountain reef are the only ones I've ever met face to face:lol:
Cya on the other side!!!!
