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Listen in! Pick up some expert advice to a reader's question that we selected from CyberSchmooz. Featured Biz Question Hi, My husband and I are tired of waiting for opportunity to knock and have decided to find him. We are both staff accountants for large companies; his career has taken him into retail management while mine stayed on the accounting track. We have been pondering the idea of purchasing a Convenience Store w/gas-type operation as it has and will have a constant customer base and verifiable positive cash flow...virtually recession proof (hopefully). Anyway, we're going to do this in my name as I understand there is certain tax/loan breaks, his credit is "not so good" and lastly...the idea of being his boss is somewhat appealing! Anyway folks (deep breath and sigh), the cost for the one we are interested in is around 300K...owner will finance 150K. I can scrape up 15K in cash and another 10-15K in real estate equity. My question is do I have a shot at getting financed? My credit is not spotless, but not bad. Both my husband and I have the experience and "let's make it so" attitude. We just need help with that little financing thing. And all advice in turning our dream into reality would be so greatly appreciated.... Sorry for the life story. Lucette Answer from our Guest Expert Lillyvette Montalvo Convenience Store Advice Dear Lucette, The idea of owning your own biz and being your own boss is probably better than all the hot fudge sundaes in the world! Owning your own biz is the most rewarding venture and the toughest job all wrapped up into one. You’ll never work harder (or be more determined to succeed) when this is the case. When it comes to convenience stores with gas stations, you have your work cut out for you in the research area. For example, gas prices are high right now, but do you know if these prices are peaking or going to go down? How will this affect your business? A complete market study of this industry and the convenience store field are the first order of business. Where can you start? continued Page 1 - 2 - 3 - 4 Enter your search terms Submit search form       Search Idea Cafe Web Small Business Tax Center • Idea Cafe Home • Sign Up • Biz Grant Center • CyberSchmooz •Coffee Talk with Experts • People in Biz Profiles • Starting Your Biz • Biz Planning • Running Your Biz • FREE Trade Publications • Marketing • Financing Your Biz • Human Resources • Legal & Biz Forms • Managing Your Biz • eCommerce • You and Your Biz • Gen X • Work@Home • The Fridge • De-Stress • Send an Award • Send an eGreeting • Yoga @ Your Desk • Web Guide • Idea Cafe in the News • About Idea Cafe • Advertise on Idea Cafe • Contact Us • Privacy Policy • Site Map • Small Biz News Copyright 1995-2023, Idea Cafe Inc. Downloads are for personal use only, not for resale to others, and may not be reprinted in any form without written permission from Idea Cafe Inc. DISCLAIMER: We hope whatever you find on this site is helpful, but be cautioned that it may not apply to your own situation, or be totally current at any given time. Idea Cafe Inc. and all of its current and past experts, sponsors, advertisers, agents, contractors and advisors disclaim all warranties with regard to anything found anywhere on this family of websites, quoted from, or sent from Idea Cafe. and its related sites, publications and companies. We also take no responsibility for comments published by others on these pages. TRADEMARKS: The following are Registered Trademarks or Servicemarks of DevStart, Inc.: Idea Cafe®, Online Coffee Break®, The Small Business Gathering Place®, Take out Info®, Biz Bar & Grill®, Complaint-O-Meter®, A Fun Approach to Serious Business™, CyberSchmooz™, and BizCafe™.

About the Expert Lillyvette Montalvo Lillyvette is a Certified Diversified Cash Flow Specialist who used her years of public relations, marketing, and financial experience to create Star Capital, Inc. which helped biz owners get the dollars they need to make their businesses grow and succeed. more