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Forum nameBiz Ideas
Topic subjectRE: I ran out of ideas for my business
Topic URLhttps://www.businessownersideacafe.com/forums/dcboard.php?az=show_topic&forum=103&topic_id=5194&mesg_id=5197
5197, RE: I ran out of ideas for my business
Posted by DBeavers, Wed Nov-26-14 05:08 AM
One possibility that jumps out at me -

If your building space is too large for your needs, consider dividing the building into a number of smaller boutique shops and rent them to others who want to start a business in your neighborhood, but don't need a full building to themselves.

You'd gain valuable rent (monthly cash flow) and at the same time, draw move people into your building, which could benefit your sales volume.

SCORE could help you with such a project, as far as giving you ideas, and a possible source for financing the building conversion/renovation.

They could likely point you to a group of angel investors as a source for funding the conversion.

Alternately, you might consider selling or leasing the building if the demand for space in your neighborhood is in high demand. The passive income from rent is only subject to Social Security (FICA) taxes, not income taxes.

Dennis