what are your goals?

Discussion in 'Business Operations' started by RSK Property Maintenance, Aug 19, 2012.

  1. JContracting

    JContracting LawnSite Bronze Member
    Posts: 1,878

    Have fun with that. That takes forever to acquire what you want. I'd rather finance (without over extending myself & by being smart and running my numbers at least twice before even considering it) to get something such as a new truck, 2nd/3rd property, etc.
     
  2. RSK Property Maintenance

    RSK Property Maintenance LawnSite Bronze Member
    Posts: 1,486

    that's why i'm going with another 7.3 powerstroke dump truck vs. the 40,000 dollar 08 f450 dump i really want, i would rather pay cash for something that i know will be reliable and make me a lot of money this year then, take out a loan for something that may have issues and will take a few years to pay off. both will work, but 95 i'm looking at isn't nearly as comfortable nor does it have even close to the same power but it will get the job done and probably get the same if not even better fuel economy.
     
  3. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    I just dont believe in financing. I cant enjoy it as much w a note every month. Especially with the economy as fragile as it is, i think financing is an antiquated way of doing business.
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  4. you are right but when the economy comes back strong your 500k property will be 700k then.
     
  5. ryde307

    ryde307 LawnSite Senior Member
    Posts: 540

    With the rising costs of goods and materials mixed in with inflation. It is cheaper in some cases to finance than it is to pay cash with intrest rates being so low.
     
  6. RSK Property Maintenance

    RSK Property Maintenance LawnSite Bronze Member
    Posts: 1,486

    oh forgot to mention one of my longer term goals is to open up 3 dunkin donuts in ct.....that should help me retire before 50 i'd like to have the 3 opened up in 6 years but you need a million to do so, so getting to that point is my first long term goal, but i have to take baby steps to get there because that won't happen over night or in 5 years even
     
  7. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    Retire? Retirement sounds boring. I plan to work till i die.

    300k to start a dunkin? Why so much? Why a dunkin?
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  8. RSK Property Maintenance

    RSK Property Maintenance LawnSite Bronze Member
    Posts: 1,486

    you need a million, and have to open 3 at once, from what i heard. why a dunkin? the product sells itself and america runs on dunkin thats why, i've never seen one go out of business,not in the part of ct i live in anyways, only their competitiors,and retiring does sound boring if you don't have money coming in still. imagine being retired and having 100,000 a month going into your account every month, still think that would be boring, you could do almost anything, personally i would take up racing in an scca class with a Porsche 911 turbo probably an 08 or brand new, i would probably travel the world racing, which is something i've wanted to do for a long time, but still don't have the money to do. Porsche has an experience you can do where you drive a new 911 turbo on the autobahn in germany and through some windy mountain roads, kinda like a tour, and its under 10,000 i think so thats something i'll do once i have the money but still not the same as racing at nurburgring which seems like an awesome track to race.
     
  9. muddywater

    muddywater LawnSite Bronze Member
    Posts: 1,813

    I think you are going to need more than 3 dunkins to bring in 100k a month... Prob need 30 stores to do that.

    If i am not working, i get bored and depressed. I am to the point where i could let my business run itself, but golf just got old. I would rather work, i get more satisfaction out of design build etc.
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  10. RSK Property Maintenance

    RSK Property Maintenance LawnSite Bronze Member
    Posts: 1,486

    i'm just saying 100,000 as an example, but i would bet a dunkin donuts does more then 1200 in sales a day, gotta remember they aren't open 9-5 they are open at 4 or 5am until midnight or even 2am if not 24hr, they are open 7 days a week and most are open 365 days a year, so i don't think 100,000 month is out the question especially from 3 stores as long as the location is good but i have many years before i have to really think about it. i would settle for a subway which i know is much cheaper to open, but they also don't do nearly the sales of dunkin on month to month basis. subway franchise fee is only about 5k a month i've looked into that myself but if a subway did 25,000 a month in sales i would be surprised. they sell their products for more money, but they also have more into them so they probably have to sell more to make the same money a dunkin makes.
     

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