re: If you had $60k cash to start a business

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I also have an offer to buy a gas station but I'm kind of worried about it. I could run it better than the guy that has it now but the building it self need some work. The asking price is a little high for an old building but it's in a great location and has a lot of traffic.

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1.Nobody is going to sell a gas station that's profitable for cheap, I know my exit strategy is to lease them out bc there is just no need to ever sell such cash cows.I wouldn't even sell mine for 3x earnings which is a ton for small businesses. It's just these businesses are so tunkey, management is very cheap to hire, but yes there is theft if im not there but its minimal in terms of the money made.

2.As long as the tanks underground are new, there's not much else that could surprise you and cost alot of money.

3.If you have a chance to buy one, do it, you really can't put a price on the 24 hour aspect of it. Most people make money 40 hrs a week at work, I make money 168 hrs a week. The money isn't ridiculous when you break down the per hour amount but the fact that 14-16 hrs a day I'm making money while not working is very appealing.Definitely don't look at volume of gas though bc the busier stores really sell gas for the cheapest and thus turn very little gas profits.