Hooligans Sportsbook

Ex- Girlfriend Is Starting A Business

  • Start date
  • Replies
    39 Replies •
  • Views 2,754 Views
I was thinking along those lines but I had difficulty understanding how you would need $200,000 to get going.

The quick answer is to ensure cash flow is sufficient for rapid growth. In the past few years, in the world of apartment locating, it has become the norm for brokers to pay agents upon tenant move in (up to 70% commission), yet broker doesn't get paid by property mgmt company until 30-120 days after tenant moves in. It's not uncommom for a well run apartment locating company to invoice $50k+ in a single month; therefore, heavy cash reserves are required nowadays to pay out the 70% commission while waiting the 30-120 days for payment of the invoice. I could technically start with less money, but either I would have to severely restrict growth or end up with a good possibility of cash flow issues. The amount of cash reserves needed would decrease once there is a steady stream of income flowing from accounts receivables; however, my broker's license is good in all of Texas and there are 4 major lucrative markets in this state, so chances are, I would reinvest the cash to continue growing in other markets. Houston would be the next market we'd launch because Mike and I have actually worked that market and there's LOTS of potential there too. I think you get the picture. I do have a business plan I'm finishing up if anyone is wanting more details. Just let me know . Thanks again.