Quote:
Originally Posted by Graplr
Keep at just that...an idea that gets tossed around. My brother-in-law just got out of his bar. He owned it for three years. I know he lost about $80-100k during that time...and that is only what I KNOW he lost. I'm sure it was more. Unless you are an incredibly saavy and successful business person or have a ton of money to use upfront, I would stay FAR away from bringing the "idea" to fruition.
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That is why I prefer to use OPM when in a business. First I would get a job as a bartender and get into management. That way I learn how to run a bar on Other People's Money. Then I would borrow the money so the bank looks over my business plan and see if they can poke holes in it. If it screws up, it's not my personal fortune we are talking about. Obviously, you will pay a premium for that protection.