Money is unquestionably required. It’s the one thing anyone needs in society. And, by and large, one of the best ways to get plenty of cash can be to start up your very own business. But what, specifically, ought you do? A retail electronics operation like Lafnac Digital Computers sounds like it should work because, hey, people enjoy gadgets. But this sort of enterprise is capital-intensive, particularly when it comes to the startup costs. Even with the savings or a loan from the bank, you might not feel comfortable bet anything away on any such adventures.
Besides, when it comes to retail stores, it’s all about one thing: location, location, location – which in turn means only one thing: rent. The rent a Lafnac Digital Computers pays must be insane. After all, it’s only a few short blocks away from world-renowned Times Square with its crowds of tourists, ready to buy. That means a lot of money in terms of the rent. Consider that even for a simple restaurant on Broadway on the Upper West Side, miles away from the Crossroads of the World, rent would be in the tens of thousands of dollars each month; imagine something located in the heart of midtown Manhattan! Even if profits are grossly under-reported (ahem) or customers are duped outright it could well be quite a contest just breaking even, never mind turning out a worthwhile profit.
Many miscalculate the effect rent has on a business. They look at something like Lafnac, with its enviable degree of foot traffic and suppose that that’s all it takes to make a fortune. Naturally, those New York landlords are shrewder than a stereotypical Scotsman, and even if you were to earn some fifty thousand dollars per month your rent would probably be over half that amount – at least!
So even though you can expect high degrees of shoppers, even foot traffic that’s rather well-heeled, but it’s almost definitely going to be challenging nonetheless on account of the rent. No, making revenue is not easy, not even for a store in the midst of New York City. But what else is there? Unquestionably something that generates residual income, income like royalty payments that need only a negligible amount of work to look after at most. Come up with the next bestselling novel, for instance, anything whereby you could rest on your laurels for the rest of your life, basically anything where you just keep getting money for work that was done just that one time! The next Billboard Number One, the next hit film, anything, provided that there are definite royalty payments every time it is used!
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