Actual Business Owners Thread?

[Anonymous No.11895594]

So now that the coincucks are broke as a joke. Can we have an actual business owner thread? I am software dev but I part time manage several small businesses I started.

What about you guys /biz/ are you tired of working for the man?

[Anonymous No.11895614]

Haha u write like a fag. Go back to your html store faggot

[Anonymous No.11895623]

Not sure if it really counts as a business, but I have rental properties.

[Anonymous No.11895653]

>>11895623
Nice how is that going for you?

I actually own a convince store. Its kind of weird I fell into if when I was younger looking for work. The owner of the place wanted a white guy to work there (he was on old crazy Irish guy) so I ended up working there and signed a sweet 15 year lease from the guys wife when he died.

Its alright really after all the expenses it brings about 50,000 a year. But I lie a lot on my taxes in fact that place is more useful for the amount of deductions I do on my income from it then what it actually make me.

How much you make on rental?

[Anonymous No.11895656]

Anybody know anything about property management? A guy who works for a rich dude managing all his properties wants to go off on his own and bring me in as a partner. Already has clients lined up, and while I'm a smart dude with lots of real world experience, I know fuck all about property management.

[Anonymous No.11895706]

I code medical records from home as an independent contractor. Profit margin of nearly 100% since its just a desktop puter. make good $ too.

[Anonymous No.11895759]

>>11895656
You are joining a property management firm or something like that, yes? Seems like a pain in the ass to me. You have to do upkeep, find tenants, emergency contact services etc. for a bunch of other peoples' homes and apts. while just getting a bite of the rent payments.
Better idea: buy houses and apartment buildings, then rent them out. The property management co. takes care of everything for 10% of the rent, tenants pay your mortgage and emergency fund and you get the rest.

[Anonymous No.11895798]

>>11895706
Is it better then software dev salary?

I make like 90k but I "work" about 3 hours a day. Rest I am on the internet.

[Anonymous No.11895901]

>>11895594

Yessir, i have two businesses, one small factory making finished goods for retail, and another doing rental real estate. I get all the best tax breaks, my effective rate is under 15%. I still work like crazy though, 7 days a week often, but at least its all going in my pocket and ill be totally financially free in just a few years.

>>11895653

Its fun living life at a discount when you have access to purchase pre-tax goods. I would have a backup plan in place though anon, the convenience store market is getting very competitive again in metro areas.

>>11895656

Good property managment is hard to find, all the best managers get gobbled up by large luxury apartment complexes. Luckily for you the bar is pretty low. Basically, good tenants and no vaccancies is god. Bust your ass getting the best tenants as possible and your job will be easy. Like seriously you should be rejecting the vast majority of applicants.

[Anonymous No.11895913]

>>11895594
Unironically do ICOs, marketing, and crypto advisory.

It's been pretty good.

[Anonymous No.11895980]

>>11895901
>>11895901
The convince store game has gotten so bad. It used to be just mom and pop places but then the Indians moved in. Then 7-11 came but they only targeted main streets.

In the past years 7-11 seems to have doubled down on their expansion into smaller towns and areas that they have never cared about. They buy property and just turn it into 7-11.

The same goes for dollar tree and the other discount brands in smaller towns.

Gas stations have also almost all transferred to having huge stores.

Previously what happened was the suppliers of the gas (like Citgo or Mobil) didn't really take an interest on the gas stations themselves. They just wanted to sell gas and would do sales agreements with distributors who would buy property and then lease them out to individual owners with clauses stating they had to get gas from Mobile Co or Citgo or whatever.

[Anonymous No.11895995]

>>11895798
I don't know what software devs make but I make more than 90k/yr

[Anonymous No.11896019]

>>11895980
But after the recession a lot of companies that owned gas stations properties went bankrupt. These morons had also been investing into other real estate and they took a bath during 2008.

So then Citgo and Mobile said fuck this we are going to go downstream and start our own property management companies and both sell our own gas and manage our own gas stations.

This opened the room for millions to be poured into gas station construction and management and now these companies are making bank. It has hurt my profit margins significantly.

[Anonymous No.11896026]

Dad giving away the company to his useless partner. Dad finally realised the value is in him more than the company. The partner wouldn't be able to run the company on his own while dad has enough credibility to get big contracts even in fresh company

[Anonymous No.11896028]

>>11895995
I make a shit salary for a software dev. People in my field easily make 140k. I just don't work much and I am lazy but I am trying to turn that around.

[Anonymous No.11896667]

>>11895594
subway franchise in the right location is a cheap way to make money

[Anonymous No.11896676]

>>11895759
make it into a franchise, but you'll be judged against your fee vs the results of other firms

[Anonymous No.11896743]

>>11895653
This is so idiotic. Once audit - whether by chance or statistical anamoly - and you're screwed with interest, penalties, etc.

There are legit ways to reduce taxes. Going any other route is a fools gamble.

[Anonymous No.11896793]

>>11896667
Franchises are a bad option. The ones I've seen all lost money

[Anonymous No.11896967]

Thanks to the two anons who replied about the property management stuff. Phone posting