Originally Posted by DJK
Did you ever consider starting smaller with a food truck? If so, what weighed against this option? Just curious, really.
Also, I join everyone else in wishing you the best.
I did. That was my first plan of attack, but that got shot down quickly. In this area the only city that could support a truck full time would be the immediate South Bend, IN area. Only problem is they don't allow food trucks. So, getting outside of that area there's very little other than a lot of rural and small towns with just a few thousand people.
Just across the border here in Michigan where they are allowed, there's nothing to support a full time truck business, but there's one or two people who set up from time to time on weekends in the summer, but that's about it.
After thinking about it I actually preferred a physical location because investing in real estate is another thing I deal in, so aside from the business itself I know it may also turn out to be a reasonable investment given where we are in the current real estate market. Not counting on it by any means, but at least having some equity into it in the event things turn south means less of a financial hit if I have to get out. And if things go at least well enough to keep the doors open, then having the the 5 year note paid off would not only be great for cash flow, but hopefully by then some improvement in real estate could make for a bigger payday down the road.