What to do with assets/start a new business

Discussion in 'Starting a Business' started by chase_schuster, Sep 12, 2014.

  1. chase_schuster

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    New Member

    Sep 12, 2014
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    Hello Everyone,

    My family has been running a business for over 60 years. The business is not doing very well right now. The business is currently ran by my father and his two brothers. My father works 40-50 hours a week, while the youngest brother never works, and the oldest brother works about 10-15 hours a week. They have equal power and equal pay. The business has been on a downhill run since my grandfather retired in the early 2000's.

    With that being said, we have about 200,000 sq. ft. of warehouse space with 17 shipping docks. We have 14 employees who work as office staff, shipping department, and packing. All of our buildings are paid off, and there is zero debt. We do have an ample amount of cash to use in a new direction. The business also has 960 acres of high fence land that we have used for hunting. We currently lease this land to another box company, who uses the land to entertain their customers.

    Any advice would be appreciated.

  2. Mark Robinson

    Mark Robinson
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    Jun 19, 2014
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    I think, you have done a good job by giving your place on lease as something is better than nothing. If you want to start a business, then you have to look that what is your interest and what type of business you want to do? You should have a business plan. First of all do some writing think about your interests, your abilities and make a plan in writing.

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