Space Mountain
Recycles dryer sheets
- Joined
- Jul 16, 2007
- Messages
- 51
A couple years ago I explored purchasing a delivery route. (bread franchise) Well, recently I have moved closer in perhaps moving forward with this venture.
Here's my background followed by question:
-Single, 42 years old w/ no children.
- Want to get out of IT sales. (self-employed)
- Current portfolio consists of roughly 535K in taxable accounts, 310K in IRA'S, house paid off. (valued @ roughly 300K)
The bread route would cost me roughly 200K with a current estimated weekly income of 2K. (plenty of room for route growth/income as it is presently owned/operated by an older woman who just can't do it much longer. (she's 60)
This is a franchise and naturally I can sell it down the road for hopefully more than I paid for it. I plan on keeping it for a while, however, to at least grow it.
A buddy of mine owns a bread route from this same franchise and enjoys it. I have traveled with him a few times on his route and know I can do it.
Here's my question:
Am I missing something here? Would it be worth it to liquidate some of my investments to pursue this? I did some initial research and apparently banks frown on lending to route buyers. If all went well or at least average, I could have the route fully paid off in a few years.
I hope I provided enough information to warrant some feedback?
Thanks for any and all responses.
Space Mountain
Here's my background followed by question:
-Single, 42 years old w/ no children.
- Want to get out of IT sales. (self-employed)
- Current portfolio consists of roughly 535K in taxable accounts, 310K in IRA'S, house paid off. (valued @ roughly 300K)
The bread route would cost me roughly 200K with a current estimated weekly income of 2K. (plenty of room for route growth/income as it is presently owned/operated by an older woman who just can't do it much longer. (she's 60)
This is a franchise and naturally I can sell it down the road for hopefully more than I paid for it. I plan on keeping it for a while, however, to at least grow it.
A buddy of mine owns a bread route from this same franchise and enjoys it. I have traveled with him a few times on his route and know I can do it.
Here's my question:
Am I missing something here? Would it be worth it to liquidate some of my investments to pursue this? I did some initial research and apparently banks frown on lending to route buyers. If all went well or at least average, I could have the route fully paid off in a few years.
I hope I provided enough information to warrant some feedback?
Thanks for any and all responses.
Space Mountain