What kind of new company should my dad start?

[conquistaDan]

my dad recently had a loss in profits from his company,and as a business major I feel like its my duty to help him out considering he's in the wrong industry and not from America to begin with.


He was formerly in the manufacturing machining tool industry.But being in Michigan means that every time the "Big 3"(Ford,GM,etc.) take a hit,they take him along for the ride.Well he's had enough and I've advised him to start a new company which he will soon be doing.

Now.i was interested in what you guys think could be the most profitable,and or most enjoyable.

heres what the possible choices are:
1)Service-buying an ice skating rink,Blockbuster
2)Food-pizza franchise, bakery
3)Communications-cell phones, etc.


those are just some of the possible ideas.



Let me know

[Assassin]

food is always good. everyone has to eat, and if you pick the location carefully you'll do great.

[Board of Command]

Good cheap food is always a hot commodity.

[Bucket]

My dad was forcibly retired from his job as a chemist. I suggested that since he has multiple degrees in science, he should try teaching at college. But apparently he has his mind set on building a breakfast/lunch restaurant on the Jersey shore. I'd have never pegged him for that type of guy. Apparently the food service business is quite a draw for old guys.

Food service isn't a business to take lightly. I've known and worked for people in the same position, and it's a constant struggle. Having started my own business (in software, which I'd think is slightly easier to get off the ground), I can tell you that it's one of the worst experiences you can go through in life. (One that I would recommend without hesitation.) Unless your dad is already well off, I can almost guarantee he'll be broke and in debt at the end of year one. His personal life, long-term plans and well-being will suffer. Hard work pays off though-- and if he can somehow survive that ordeal, he'll come out the other end with a newfound appreciation for his ability as well as a profitable venture. Ultimately, it all hinges on his confidence and desire to succeed. And if he minds coming home smelling like pickles.

[UChessmaster]

I though your dad was in real estates... am i missing something?

[SK]

Porn company.

[conquistaDan]

He was in real in real estate with my uncle,but I also have something else to add.

real estate is a side business hat many super rich people practice in.He's not super rich but affluent.However going down.


I use this list as both inspiration and practice.


http://www.forbes.com/lists/2006/54/biz_06rich400_The-400-Richest-Americans_land.html


Good list,makes me pissed,and jealous,but good list.

100% billionaires

[Spiegel]

I have to go with food. I personally am in Catering as a Server/Carver and there is good money to be made in that business, The key as always is Location. Also remember to advertise. Word of mouth is also a GREAT way to get business, and DONT HAVE BAD FIRST PARTIES. But all those points are simple. Anyway, there is my two cents.

[samsonlonghair]

I once saw the greatest business idea. It was called "suds-n-buds". There was a laudromat next to a bar. You bring your laundry in, pop a few quarters in the machine, and while you wait you want something to do. The guy at the front desk hands you a ticket with a number, and you head next door to have a beer. When your wash cycle is done the guy at the counter calls your ticket number. You go back, change your laundry over, and get another ticket.

The owner was making a mint until he died, and his daughter didn't want to own a bar, so it all got sold off.

[Assertn]

He was in real in real estate with my uncle,but I also have something else to add.

real estate is a side business hat many super rich people practice in.He's not super rich but affluent.However going down.


I use this list as both inspiration and practice.


http://www.forbes.com/lists/2006/54/biz_06rich400_The-400-Richest-Americans_land.html


Good list,makes me pissed,and jealous,but good list.

100% billionaires
Once you hit 100 million, there really isn't much point in going any higher.

[gr3atfull]

Ice cream shop in a mall

[6Zabuza9]

shoes!!!:)

[woofcat]

What ever he has a passion for. Even if its a great business idea, if you don't want to do it and don't have fun doing it, it won't fly. If he wants to do food or what ever let him do it. Its his money and his choice.

[Super5]

Well, I'll differ from everyone here and suggest the cellphone business. You can't go wrong in cellphones - unless your parent company goes down the tubes. Cellphones aren't cheap, and people are always upgrading to get the latest and greatest technology. IMO it's a boring business though. But you'll rake in money...

[Bucket]

Are you kidding? The market is saturated with phone retailers. Every department and electronics store has a phone section (hell, Radio Shack is basically a cell phone store now), not to mention there are a dozen phone stores and pagodas in the mall in my town. It's a wash.