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ProwlerOnline, Plymouth/Chrysler Prowler Discussion Forum
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businesses NOT to be in ...... (Page 2)
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| This topic is 2 pages long: 1 2 This topic was originally posted in this forum: Tires, Rims Discusssion |
| Author | Topic: businesses NOT to be in ...... |
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tangled up in BLUE Prowler Junkie Posts: 11086 |
posted 02-26-2004 09:01 AM
according to the Coleman Report....the top ten businesses that fail to repay their SBA loans are.... *1 eating places.........15% rate of failure *2 grocery stores........12% " *3 hotels and motels..... 4% " *4 dental offices and clinics........ 2% " *5 general automotive repair shops...11% " *6 gasoline service stations.........10% " *7 misc retail stores................15% " *8 child day care services........... 8% " *9 beauty shops......................10% " *10 doctors offices and clinics...... 6% " ...thought this might be interesting to see in combination with the question about foreign trade affecting businesses... Just curious though....how do doctors and dentists not make it in business, scams? |
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YellowFever unregistered Posts: 11086 |
posted 02-26-2004 09:22 AM
quote: Ever see the costs associated with just opening their doors for day one? It would blow your mind. Add to this probably their massive student loans they have to repay and the scale is tipped even more. Now add in a whole host of unknowns like malpractice and it's a wonder why anyone would get in that business. And trust me, there are enough folks that would sue any doctor for anything because they view this as their chance at life's lottery. |
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Bob Miller Prowler Junkie Posts: 4576 |
posted 02-26-2004 09:30 AM
My younger brother graduated from a very good medical school, and then specialized in oncology. He's also a chemical engineer. After completing his residency and passing his medical boards he was finally ready to enter private practice, after nearly eight years of preparation. He joined an established practice based in Westlake Village (north of LA). I recall him telling me that he lived hand to mouth for several years, paying medical school loans, housing costs, etc. Now he's a senior partner and the money is good, but it was a struggle in the beginning.  |
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Randy Cobb Prowler Junkie Posts: 4070 |
posted 02-26-2004 12:53 PM
Tangled- *6 Gasoline service stations.....10% I supply and in some cases own the real estate at some convenional bay stations and convenience stores. It's very tough on these guys in the retail gasoline market with fierce competition from the big box retailers and grocery chains whom have gotten into the gas business and sell below cost as a loss leader. That's why I get a little defensive when I get mass email messages asking people to boycott stations selling certain brands. Doing this only hurts the small businessperson who is already struggling at best and does no harm to the intended target (major oil co.). Most consumers think the neighborhood station is owned and operated by a major oil co. if their logo is posted out front, when in fact it is usually operated by an individual or a local distributor. ------------------ |
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GRROWL Prowler Junkie Posts: 2404 |
posted 02-26-2004 02:43 PM
quote: Is this necessarily business failure, or are some catgories more likely to just skip on the loan? -GRROWL |
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MDProwler Prowler Junkie Posts: 5250 |
posted 02-26-2004 07:44 PM
I turned wrenches when I started and if necesary, I'll do it again. As long as something that breaks needs to be fixed, I'll be working. ------------------ |
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DR PROWLER Prowler Junkie Posts: 4079 |
posted 03-02-2004 06:44 PM
How interesting to see these stats. You never hear of doctors and dentists going out of business,do you-but I guess it happens.Must be awful going from practicing medicine to flipping burgers! |
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Bcoffman Gray Ghost Prowler Junkie Posts: 2418 |
posted 03-03-2004 07:29 AM
quote: JMO. I would venture a guess that the largest percentage of business failures here, in this group, would be bankrupcies to get out of paying back loans. Maybe Gov. school loans? |
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YellowFever unregistered Posts: 2418 |
posted 03-03-2004 08:35 AM
quote: I believe, student loans are exempt for bankruptcy. Meaning, you can file but, after all is said and done, you still owe all the money back for them. Taxes are another exempt area. I believe taxes must be older then 3 calendar years from the one you file in to be part of your BR. Meaning, if you owe for years 1 and 2, you still owe for them after your BR. I stand to be corrected though. |
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