Higher Learning podcast XIII-Tuesday July 2nd @8:30 pm est
- Thread starter Dusty Bake Activate
- Start date
Still hilarious. lol@your bedroom looking like a 13 year old living with his mom.
Hey currently a full time student working on getting my finance degree. I never got enough financing to start that frozen yogurt franchise which I'm suing for not returning my franchise fee of 20grand , living off my savings...it is what it is ...i'll build myself back up
Dusty Bake Activate
Fukk your corny debates
Hey currently a full time student working on getting my finance degree. I never got enough financing to start that frozen yogurt franchise which I'm suing for not returning my franchise fee of 20grand , living off my savings...it is what it is ...i'll build myself back up
You gotta elaborate on that one for us.
Julius Skrrvin
I be winkin' through the scope
Probably wont be able to make it. Got fam rolling in town tonight. Enjoy brehs.
Dusty Bake Activate
Fukk your corny debates
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Back in 2010 I purchased my parents home and took capital out of the home to start a business. I've been living in this home since i was born and it has had equity built up since my father owned it going back decades when his parents owned it and he passed on when I was young.I had 80 grand and i was going to research what to do....what kills me is my friend told me to put it all in apple when it was 270 so you can imagine the pain i felt when i saw it climb almost into the 700's because i didn't do that and I should have
My step father wanted me to lend him 30 grand to buy out the landscaping business he worked for. I originally said no because 80 grand to start a business is already slim pickings, but ultimately i got tired of the guilt trip every day and the rest of my family telling me that I owed it to them and they obviously didn't sell me the home at market value.
So long story short I'm left with 50 grand and i see that frozen yogurt is an emerging market that is growing and sign up with Yo Fresh Yogurt and they have a 19500 franchise fee. Before i signed the contract i had them amend it to include a clause that if I couldn't get proper financing that i could have my franchise fee returned. They added it and I signed the contract. So now i'm left with about 25 grand and we are talking about at least 120grand to open. Even though my credit score was in the 700's i knew it would be difficult to get proper financing because i had no business experience. Ultimately nobody would give out any sba loan less than 250k and the best i could conjure up was about 23grand in business credit cards...the franchise owner even had a nice location and wanted me to sign the lease and I said...dude there isn't enough capital and there is no way i'm getting anywhere near it without another investor. So I say look i've given it a year and I don't think this is happening i'm ready to enforce the clause in the contract, he gives me some bullcrap about the contract only being good for a year and that i would have to sell the rights of the franchise plus give them an additional 10,000. Lawsuit was filed officially last month with a lawyer and they have tried to settle with 5000 and 7500 my lawyer said hell no. I wouldn't settle for anything less than 12g's at this point.
Looking back this was one of the stupidest things i've ever done in my life...the right thing to do was put the money in a safe etf or some stocks i was confident in and return to school full time and actually build up some skills to know how to run a business or just go into the corporate world for a few years and then try my hand at owning a business when i'm more seasoned.
This was a case of me being a dreamer without thinking it through but i'm not going to dwell on it just learn from it and move on and rebuild myself up again.
Maybe talk about whats gonna happen when the Egypt’s Muslim Brotherhood is placed in bushes.
Or how Obama is having to sick the dikks of the EU now that the spying stuff is out there. I think Germany and France are like
Or perhaps, all the different ways in which Google is taking over the world, taking over business, and taking over our privacy.
What about that one movie that's coming out in which the elites live on another planets and the Masses are stuck on some BS version of Earth. There are ways to have a debate about that....
sides notes could be the voting racist shyt and Zimmerman trial
Or how Obama is having to sick the dikks of the EU now that the spying stuff is out there. I think Germany and France are like
Or perhaps, all the different ways in which Google is taking over the world, taking over business, and taking over our privacy.
What about that one movie that's coming out in which the elites live on another planets and the Masses are stuck on some BS version of Earth. There are ways to have a debate about that....
sides notes could be the voting racist shyt and Zimmerman trial
88m3
Fast Money & Foreign Objects
Ayo @VictorVonDoom what's good with the beanie, b? Isn't it like 100 degrees down there, b?
You hit a hipster faze late in life? I guess it beats the echo jacket? Refuse to believe you have a wife that let's you dress like a confused twenty year old.
You hit a hipster faze late in life? I guess it beats the echo jacket? Refuse to believe you have a wife that let's you dress like a confused twenty year old.
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Dusty Bake Activate
Fukk your corny debates
Brown_Pride
All Star
what you should have done was gone in as a silent partner with your step pops. give him 30 for 10% ownership. There are many more people out there willing to do shyt like this, particularly in land scaping. Labor is cheap, equipment is cheap, work is abundant. You could just look for a truck of dudes working for another company and hit them up with a business proposition, fund the venture for a cut. I've done that a few times and have stake in a some "mom & pop" type set ups (barber shop, landscapign business, printing business) they pay decent enough returns and I DON'T DO SHYT
Yogurt?
88m3
Fast Money & Foreign Objects
should have bought land/property with that
It's hard to come up with financing in a lot of markets
should have bought land/property with that
I know man...so many better options to be honest that were much less risky but i got greedy...should have spoken to a financial planner back then
but now i'm actually studying this stuff so its kind of killing me learning what i should have applied 3 years ago...on some if I knew back then what i know now