How do these immigrants get the money to open business.?

Question

I am sure some folk have wondered why every Dunkin Donut or gas station is owned by an Indian or middle eastern person. On the other end it seems as every restaurant or Cleaners is own by an Asian. Me and a friend a few years back ask these people how they get started and it seems as they acted like they didn't want to tell us. It seems a bit unfair doesn't it. I also heard about them not haven to pay any taxes for a few years then they transfer ownership to re-start the clock.

Answer 1

Rarely are franchises owned by immigrants, as the $ requirement is too high. Small businesses, particularly cash businesses with a relatively low entry dollar amount is where you will see many immigrant owners. They often get financing from fellow immigrants, as these communities are very tight. So an asian restuarant owenr will bankroll an Asian employee to open another asian restaurant cross town.

Answer 2

A bit racist are we today?

Why can't immigrants have as much money as people who were born and raised where you reside?  

Answer 3

They save their money and tend to work together as a family in the business, sometimes involving multiple generations.  This saves them a great deal in payroll expenses.  

When I sold a business it was bought by an asian couple and they laid-off all my former employees and ran if for several years exclusively with family members. They told me they were only interested in keeping the business for five years, because they felt it was a long term investment that would gain in value and weren't concerned with drawing big salaries now.

This mindset is different then many native business owners.  

Answer 4

Exactly -- there's nothing "unfair" about it. Other cultures seem to honor industriousness and money management better than North Americans, who tend to just wake up one day wanting to start a business and then they want grants instead of loans because they have no savings and no collateral.

Often, a fortunate entrepreneur also has a large family or community to draw on for private loans or equity buy-ins, as well as their own savings.

Answer 5

Immigrants tend to be better savers than the rest of us.  They save and we don't.

Also, it is an urban legend that they don't pay taxes.  You can look it up on Snopes.com.

Answer 6

I know how one immigrant did it.  The first job he took after getting here was cleaning toilets.  It was late spring, so he slept on the beach (no rent), was allowed to eat where he worked twice a day (no food cost) and he spent only what he needed.  He worked his way up to busboy, then waiter.  He was really good so he made a lot in tips.  Still not much in the way of expenses.

He attended the local college - almost free for residents (although he already had a degree back home), got his degree, paid to get his family over here (by that time he owned a nice house) and he's doing well.

It's not easy, but some people are willing to work hard, be alone for a long time and put off gratification, in order to to have a decent life in the US.