Finding A New Business: The Walk In Clinc And The Funeral Home
Times get tough when you are an entrepreneur. Sometimes you look for something different - perhaps safer - to do with your time and money. Inspiration is all around us - finding something that is both profitable and within our capabilities is the challenge.
I look at different businesses and industries all the time from dry cleaners to transportation companies. Usually I find inspiration that I can gear to my own strengths rather than actually run with an idea. The world is full of businesses who don't make any effort. Buying a small dry cleaner (or something) and bringing it into the 21st century - is a simple business strategy that should work if people are still interested in the service!
I came across two businesses for sale in my search today - one was for a Walk In clinic and one was a funeral home.
With the walk in clinic - you have doctors on staff - you run the office - everything is billed to the government in Ontario (so you get paid for sure). The income is fairly significant compared to the cost - but I don't really know the pimping doctors business. I know doctors dont have time for the corporate structures they are required to create in Canada - so I suppose it makes sense that they would rather take a check than a cut? This business apparently pays a non doctor about 200k after expenses. If I were more into science perhaps this would be a good idea. I certainly do not want to play boss to a doctor either -i'd be at their mercy - the business can't operate without one.
Funeral Homes will cost you in major metro areas. In small towns you might find them for 1m with a pretty significant cash flow (less competition) - but you have to live there. This is a business you could "hire out" - but it would still need active management. The idea of owning a funeral home has always interested me because it seems like a fool proof business. You are almost guaranteed to earn more than a six figure income every year. The only problem with the funeral industry is I really don't want to be involved in the funeral industry. Passive ownership would be okay - but I couldn't imagine "getting in the trenches". As someone who's expertise is in advertising/marketing - I don't think I would be able to add anything meaningful to the business.
Everyone needs medicare and everyone dies - two brilliant ideas that don't work for me but could be a goldmine for the right person. These businesses are fantastic for those of you who have what it takes.
This is a part of my process - last week I was looking at buying Brazilian rainforest (which is suprisingly cheap) - at least this week i'm thinking more local. Work in progress.
Ryan Geddes is a writer and entreprenuer located in Toronto Canada. When he's not writing, hes helping with House&Canvas Furniture Paint.
Great post! I've learned that people will forget what you said, people will forget what you did, but people will never forget how you made them feel.
You got a 7.33% upvote from @postpromoter courtesy of @rgeddes!
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Thanks @rgeddes for giving me a good laugh. I've been an entrepreneur most all my adult life. Cannot even imagine a 9-to-5 without shuddering and my stomach doing flip flops. Most of what I've always done is in the writing field. Teaching, freelancing, coaching, ghostwriting, and, of course, my own novels. In more recent years I've played around with affiliate marketing--online. That, by the way, is how I discovered Steemit. So I feel like that was a good avenue to pursue. Thanks for a good post.
Sounds like we were programmed the same way. I was heavily involved in Affiliate Marketing at one point - its become much more difficult to monetize these days.
I enjoy writing as well. I never intentionally set out to become a writer. I was asked me to write an opinion piece once, it made me realize that writing can actually pay like a job. The type of job where you probably need a second and third job to make ends meet!
I'm laughing. You are so right (write) on. LOL