I was thinking about owning my own liquor store...and a couple other options!!??!!?

Question

Right now I am in college, only going into my third semester, but I am the business savvy type, and was looking to open a few shops in the near future, or a ways down the road. I come here to get some helpful information, whether they be websites, personal information, etc.

I looking to run a liquor store, a go-kart racing track, and/or a handicapped transportation company.

As far as a liquor store goes, I did minor research. There is a lot of regulations and tax guidelines, etc that go along with that! I did NOT know that at all. What are some guidelines as far as opening a shop in Maryland? What price range am I looking at to open a shop up? I know location is key, but typically, where are good locations to open shops? I prefer to have a liquor store in an area that will make money, typically near cities, or lower-end income families. Other than that though?

A go-kart race track, the same questions apply. I do not know where to start with this idea. This past weekend I was at the beach, and they charged $7 for THREE MINUTES of riding!!!! My girlfriend and I were talking about that price, and opening a track, charging $1 a ride, $5 max would make you lots of money. Gas isn't THAT expensive!

Last, but not least, the handicapped business. Again, the same questions apply. I drive for my girlfriend's uncle who has cerebral palsy, and without me, he'd be paying TONS of money for transportation. He of course can help me with ideas, etc. as far as opening a company transporting handicaps around, but maybe you guys have more ideas here.

Which route would be best to start out? Open a liquor store first, then a go-kart race track company, then the transportation?, does order matter? Do these ideas not really make THAT much money?

Sorry for the long post, but I'm more than interested to hear what you guys have to say.

Answer 1

They can make ALOT of money if done properly , but to make real money everyone needs something new that not too many people do. for instance i do http://dmitry.buildlastingsuccess.com which brings me about 800$-1400 a month with barely any time invested. as far as liquor store you need some serious reserch for place where people do some drinking but also work to afford it all. Go track will be a burden , but biz for handycaps is great , because anything that has something to do with healthcare is great.

Answer 2

A liquor store will cost you a hundred thousand or more for the licenses, inventory, insurance, etc.

The go-cart track. You are forgetting the cost of insurance. Rent, employees and other expenses. You also have to purchase and maintain the go-carts.

The handicap transport. You have licenses and permits. You'll need a commercial drivers license. Handicap vans, etc cost a small fortune and once again insurance.