running business out of house

[petersonra]

The last large shop I worked at the owner of the electrical company also owned the building under another business and rented it out to the electrical company he owned, he also had other tenants. He did quite well for himself.

A much better idea than buying property in partnership with another business.

 

[dbuckley]

The last large shop I worked at the owner of the electrical company also owned the building under another business and rented it out to the electrical company he owned, he also had other tenants. He did quite well for himself.

This is how the McDonalds Corporation make a goodly chunk of their money; sure, they sell burgers, but McD are the worlds largest owner of commercial real estate, and the corporation rents space to their franchisees.

 

[480sparky]

This is how the McDonalds Corporation make a goodly chunk of their money; sure, they sell burgers, but McD are the worlds largest owner of commercial real estate, and the corporation rents space to their franchisees.

And that's how Ray Kroc got Mickey D's off the ground.... no one wanted to invest in restaurants. They're a shakey investment most of the time. So he switched gears and started plugging the idea more towards real estate........ THAT is worth money!

 

[readydave8]

the owner of the electrical company also owned the building under another business and rented it out to the electrical company he owned

I haven't done this but have heard from others that this is a good tax stradegy

 

[dbuckley]

And that's how Ray Kroc got Mickey D's off the ground.... no one wanted to invest in restaurants. They're a shakey investment most of the time. So he switched gears and started plugging the idea more towards real estate........ THAT is worth money!

Not quite - It was Harry J. Sonneborn, not Kroc that figured out real estate was the business to be in. That change to what McDonalds as a corporation was saved Maccers from almost certain bankruptcy, back in the day.

Real estate still contributes fifty odd percent of the corporation's turnover.

 

[glene77is]

I've got a shed full of tools & materials, another one half full, a cluttered driveway, file boxes all over the house and a wife that's ready to throw it all in the trash.
,,,
Could get a 20 x 20 space for $100 a month, I think it was.
,,,

Bet you could build your own 20x20 for $100 a month,
or is that too close to the wife's house ? :grin:

My wife likes our shed, shares it with me,
parks 'her' lawnmower right in there ! :grin:

 

[cdslotz]

Around here it's illegal to run a business out of your home.
Contractor's registration requires proof of a commercial business front.
Am I missing something?

 

[ptonsparky]

No, your not. Many of us don't have the same rules or manage to ignore some of them. In my case we did not have zoning enforced at the time. Even now there is no one looking for violations. Someone would have to turn you in.

 

[petersonra]

Around here it's illegal to run a business out of your home.
Contractor's registration requires proof of a commercial business front.
Am I missing something?

Around here you are allowed to run at least some businesses out of your home.

I know a guy that has a gun shop in his basement. Fully licensed and taxed.

Other businesses being run out of a home I have seen around here include tax preparation, hair salons, several contractors, and at least one chiropractor. There used to be a car repair business as well, but I think it is closed now. Maybe he retired.

The village I live in does not allow over night parking of semis so the guy running a trucking business out of his house had to find somewhere else to park his rig. His neighbors did not like him leaving it in his side yard idling all night when it was cold and complained to the village.

I don't know if it is still in business but there was also a control panel shop that a guy was running in a pole barn on his property. I am pretty sure he was outside any municipality though.