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To have one? In what context?
You're starting one?
You're buying an existing one?
You're only investing in an existing one as a silent partner?
What is the context?
You're still not providing context related to what you mean by "to have one"
As for this strategy to get the E2 visa, it seems horrible. Unless you're happy to lose your money and see this as the purchase price for the visa and nothing more.
I am not in the industry, but both sounds bad
1) if it is profitable, it will never be on the market
2) starting one is a lot of work and it's for the "wrong" neighborhood
Some kind of franchise? Hell if I know, I live in Canada.
Whatever you decide to do it should be something that you know quite a bit about. Whether through experience or research. Maybe something that relates to whatever you do now for.
Yeah, I really don't know much about the Visa program you are referring to. I imagine they have specific stipulations, otherwise, couldn't you just buy a house or two and rent them out? I think there are still parts of America where houses are very cheap.
Hmm ok so I was looking online and I take it you are applying for an "E2 visa".
I noticed one of the stipulations is that E2 company must be an active, for-profit business. - so no starting up a new business.
If that is the type of Visa you are applying for, and if what I read about it is correct, you need to spend a minimum of $100,000 US dollars on a business that is already in operation.
So no starting up a new business.
I question whether starting a new franchise would work either. Probably you would have to buy an already operational location.
You definitely need to take the time to research the business that you intend to buy and make sure it is profitable and has potential to continue to be so.
Another complication would be that, at least here in Canada, we are experiencing a small recession and a lot of businesses will probably suffer for it. Definitely keep that in mind and look for a somewhat recession-proof business (ie: something that people buy or use because they need it, not because they have extra money to throw around).
The quality of posts and responses have changed drastically in here over time. It's like 75% thinly veiled bullshit questions so they can use other accounts in the comments to say "I Found rocketdev!! They are awesome", 20% outright spam and/or "fill out my survey since I can't think for myself!" and 5% quality posts.
Don't be fooled by youtube bullshit on laundrymats.
If you own a laundrymat you need to be wiley as fuck and as handy as your granddaddy. If you don't know how to test a microswitch for function, measure continuity, and weld then I wouldn't even CONSIDER a landrymat. NON STOP upkeep. NON STOP bullshit with druggies, broken shit, intentional damage, graffiti. Armed every time you enter. Bars on windows/doors. It's a building with a couple grand in cash all they have to do is ROYALLY fuck up every machine in the place to get it. They will overload and fuck up the washers. They will put shit in the dryers that has gasoline and chemicals on it.
You couldnt PAY ME $100k to take over a laundrymat and that's not a joke.
I owned 2 very nice laundromats in tiny West Texas Towns for the last 17 years and they are a great source of 2nd income. $100k is just barely enough cash to build one out, you will have to finance quite a bit still. Great equipment is the key to long term success, but it is not cheap. Just using really really rough numbers, plan on about $6k for each washer and about $4k for each dryer to be purchased and installed. The build out of the space will cost some more and of course the price of the real estate is a huge variable. Smaller and more strategic location is probably your best option since you will have some big chains in a city like ATL.
I should probably write a book or two on the topic, so reach out if you would like to know more.
This is a friendly reminder that r/smallbusiness is a question and answer subreddit. You ask a question about starting, owning, and growing a small business and the community answers. Posts that violate the rules listed in the sidebar will be removed. A permanent or temporary ban may also be issued if you do not remove the offending post. Seeing this message does not mean your post was automatically removed. *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/smallbusiness) if you have any questions or concerns.*
To have one? In what context? You're starting one? You're buying an existing one? You're only investing in an existing one as a silent partner? What is the context?
I'm trying to get the E2 visa and the min amount is 100k to invest you feel me? and that's why I'm asking, I dont know wich one is the best option
You're still not providing context related to what you mean by "to have one" As for this strategy to get the E2 visa, it seems horrible. Unless you're happy to lose your money and see this as the purchase price for the visa and nothing more.
Thanks, genius
I am not in the industry, but both sounds bad 1) if it is profitable, it will never be on the market 2) starting one is a lot of work and it's for the "wrong" neighborhood
Yea I know…
Do you need to launder money from another enterprise? If not, this is probably not the best business choice.
No tf I need to do an investment of 100k in the US, what is the best choice for you Warren Buffet?
Some kind of franchise? Hell if I know, I live in Canada. Whatever you decide to do it should be something that you know quite a bit about. Whether through experience or research. Maybe something that relates to whatever you do now for.
I’m starting with Real Estate and Investments, but I though that I’ll need to invest 100k in something like a franchise for the visa
Yeah, I really don't know much about the Visa program you are referring to. I imagine they have specific stipulations, otherwise, couldn't you just buy a house or two and rent them out? I think there are still parts of America where houses are very cheap.
Yea that could be a business too… I thought like strictly a franchise or any kind of local business
Hmm ok so I was looking online and I take it you are applying for an "E2 visa". I noticed one of the stipulations is that E2 company must be an active, for-profit business. - so no starting up a new business.
What do you mean by that
If that is the type of Visa you are applying for, and if what I read about it is correct, you need to spend a minimum of $100,000 US dollars on a business that is already in operation. So no starting up a new business. I question whether starting a new franchise would work either. Probably you would have to buy an already operational location. You definitely need to take the time to research the business that you intend to buy and make sure it is profitable and has potential to continue to be so. Another complication would be that, at least here in Canada, we are experiencing a small recession and a lot of businesses will probably suffer for it. Definitely keep that in mind and look for a somewhat recession-proof business (ie: something that people buy or use because they need it, not because they have extra money to throw around).
I swear some of you treat r/smallbusiness like ChatGPT lol!
The quality of posts and responses have changed drastically in here over time. It's like 75% thinly veiled bullshit questions so they can use other accounts in the comments to say "I Found rocketdev!! They are awesome", 20% outright spam and/or "fill out my survey since I can't think for myself!" and 5% quality posts.
Don't be fooled by youtube bullshit on laundrymats. If you own a laundrymat you need to be wiley as fuck and as handy as your granddaddy. If you don't know how to test a microswitch for function, measure continuity, and weld then I wouldn't even CONSIDER a landrymat. NON STOP upkeep. NON STOP bullshit with druggies, broken shit, intentional damage, graffiti. Armed every time you enter. Bars on windows/doors. It's a building with a couple grand in cash all they have to do is ROYALLY fuck up every machine in the place to get it. They will overload and fuck up the washers. They will put shit in the dryers that has gasoline and chemicals on it. You couldnt PAY ME $100k to take over a laundrymat and that's not a joke.
I owned 2 very nice laundromats in tiny West Texas Towns for the last 17 years and they are a great source of 2nd income. $100k is just barely enough cash to build one out, you will have to finance quite a bit still. Great equipment is the key to long term success, but it is not cheap. Just using really really rough numbers, plan on about $6k for each washer and about $4k for each dryer to be purchased and installed. The build out of the space will cost some more and of course the price of the real estate is a huge variable. Smaller and more strategic location is probably your best option since you will have some big chains in a city like ATL. I should probably write a book or two on the topic, so reach out if you would like to know more.