5 ms·
"Lifestyle business" doesn't have to mean "cheap lifestyle". Also, a business that generates a few million a year doesn't necessarily have 100% profit margins
by swombat 17y ago
"Lifestyle business" doesn't have to mean "cheap lifestyle".
Also, a business that generates a few million a year doesn't necessarily have 100% profit margins (in fact, I think it's safe to say that most don't).
- MicahWedemeyer 17y agoYeah, I'm spinning up a startup that will require about $2M in yearly sales in order for us to make a decent living off it. But, it's a marketplace app where we take a commission on each sale, so our margins are very low compared to (hopefully) what the actual sellers are making.
- tptacek 17y agoWhy are you deliberately choosing a market where you will make low margins?
- MicahWedemeyer 17y agoIt's untapped, I like the subject matter, and it will be genuinely useful to the people involved. I'd rather be poor doing what I love rather than rich working on something I hate (or am indifferent to).