5 ms·
There's usually a x-year non-compete agreement when this happens... I know a guy that does exactly what you describe, starting a new garbage pickup service ever
by ldoughty 4y ago
There's usually a x-year non-compete agreement when this happens... I know a guy that does exactly what you describe, starting a new garbage pickup service every 3 years, when the agreement elapses. He then works for ~3-4 years to build it back up. Sold twice already, and on his third.
- technothrasher 4y agoLaundromat -> liquor store -> hotel -> retire rich is a common path here. Rinse and repeat a couple times at each point, and because you sell each time to the guy trying to do the same thing behind you instead of to a big competitor, there's never non-compete agreements. Bonus in that the first two are recession proof and cash heavy businesses (if you wish to avail yourself of the possibilities that suggests).
- lotsofpulp 4y agoAnecdotally, work from home put a crimp in many laundromat businesses. And liquor stores only work in states that do not let the big stores sell liquor. These days, any half decent hotel brand will require a couple million cash (for the down payment), and more for a new build. At least in the western US.
- hackernewds 4y agoWhat if there were no agreement? seems like he is the driving successful factor in these businesses, but I'm guessing he'd rather sell his company than get hired by them. there are example employees I've seen that have this kind of leverage too