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/biz/ - Business & Finance


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15313933 No.15313933 [Reply] [Original]

is 5k capital, 15k credit line and 730 credit score enough to start a small business? Obviously I'd need a business loan. No college degree.

>> No.15313945

Not crypto.

>> No.15313982

>>15313945
5k cash not crypto. I'm looking to do something in the real world here, not larp about my "link stack" on 4chan

>> No.15313989

Depends the business anon. If you're doing something like amazon FBA you can start with 1-2k like I did.

If you're doing painting or some other shit like that you need to do the math on supplies, equipment and a vehichle. With such a vague question nobody will be able to awnser properly.

But in short. Yes.

>> No.15314007

if you have to ask, you'll never know

>> No.15314019

>>15313989
>amazon FBA
What is this? Is it fruitful? I was thinking of opening a liquor store

>> No.15314082

>>15313933
try it, if it's a great idea it will sell it's self, remember it's all about selling in capitalism, it's a fun game to play once in a while, you can get much more funding if your idea has a proof of work.

>> No.15314087

technically you can start with below 1000$
just register LLC and bank account, then feel free to offer your services to everyone in the world

>> No.15314159

>>15314087
Thoughts on starting a liquor store? I don't drink BTW

>> No.15314184
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15314184

>>15314159
your question is like pic related
depends on many variables such as where you live, where you want to open, what kind of sources you have and many many other things

>> No.15314204

>>15314184
Man. I just don't want to have a boss. I'd work so hard every fucking day. Anything not to have a fucking boss.

>> No.15314363

>>15314204
If you have connections and understand liquor industry then why not, ask for consultation in your local accounting/lawyer firm about setting up a company. I don't know how much they charge for this in your area, but here in EU these kind of services cost like 50eur, don't think it's much more expensive in US. Just make a call and ask for consultation, you will certainly have much better insight of necessary next steps and how to prepare for them. Both in terms of legal procedures knowledge and your inner mental / spiritual state

I hope you understand that's pretty much everything I could say without further context and that this is your part of work, right?

>> No.15314393

I’m 28, live with mommy and have 100k that I plan to use as my bank going forward. 6-7 years from now use the interest to buy a car and then let it sit some more. I plan on paying for all my cars/kids college this way, maybe a couple international vacations too. Have 100k between my 401k and IRA too.

>> No.15314566
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15314566

>>15314393
>interest from 100k is enough to buy a car in 6 or 7 years
So this is the power of /biz/

>> No.15314592

>>15314566

>doesn’t understand how compound interest works

>> No.15314704
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15314704

>>15314592
See you in a few years when you encountered "a lot of bad luck" and somehow your 100k nest egg didn't get you through the rest of your life.

>> No.15314722

>>15314019
Yeah, it can be quite profitable if you do lots of product research.

Pretty much how I do it is:
>Order bulk name brand product from a supplier
>make sure sale rank is good and Amazon isn't selling it
>send it into the Amazon warehouse
>Literally everything sells itself

Has a bit of a learning curve but there's tons of great free content on youtube. I didn't spend a dime on paid courses.

>> No.15315673

>>15314722
how does the send into amazon warehouse part work? they sell the stuff for you? do you get it sent directly there?