61: Launching a Hands-Off 'Cash Cow' Business With Less Than $100K, Step by Step With Ashley Kehr

BiggerPockets Business Podcast

BiggerPockets

Business, Careers

4.8 • 696 Ratings

🗓️ 23 June 2020

⏱️ 65 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Have you ever thought about creating a brick-and-mortar retail operation from scratch? Ever wonder what hoops you have to jump through to get a liquor license and launch a business selling alcohol? Ever wonder how to do consumer research before opening a local store? Ashley Kehr—real estate investor, entrepreneur, and co-host of BiggerPockets' Real Estate Rookie Podcast—is in the process of building and launching a local liquor store, and she shares with us her step-by-step plan. In this episode, Ashley tells us how she found and hired an expert consultant, how she applied for and got a state liquor license, and how she was able to purchase the real estate and design it for her business. And she did it with a whole lot less cash than you might expect! Ashley provides a ton of great tips for any budding entrepreneurs looking to take that next step toward creating their own business. She talks about the value of networking, asking the right people the right questions, and the biggest roadblock that many of us need to overcome to get started. And make sure you listen for Ashley’s amazing tips on how to advertise your local business, as well. Check her out, and subscribe to the BiggerPockets Business Podcast so you won’t miss our next show! In This Episode We Cover: Using an industry expert to navigate licensing Leveraging your network to market through word of mouth Buying the real estate your business will use How Ashley's setting up her network of alcohol distributors How to succeed in a new industry by "asking the right people the right questions" Setting up a business that will run on autopilot! And SO much more! Links from the Show BiggerPockets BiggerPockets Rookie Podcast Rookie Podcast 12: What Works (and Doesn’t) in a Recession & the Untold Story of J Scott’s Messy First Flip BiggerPockets Real Estate Show Indeed.com BiggerPockets Business Podcast 56: From Poverty to Millions Through Laundromats with Dave Menz BiggerPockets Rookie Facebook Group Check the full show notes here: http://biggerpockets.com/bizshow61 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	We recycle our Macafey Cups and turn them into birthday cards.
0:04.5	That's a lot of celebrations and millions of happy birthdays.
0:09.6	That's just one way at McDonald's.
0:12.0	We change a little, change a lot.
0:15.8	Excludes cup need. Recycling units available in UK restaurants.
0:18.7	Search National Cup recycling scheme.
0:20.0	Welcome to the Bigger Pockets Business Podcast show number 61.
0:26.2	The building that I purchased, that cost 20,000.
0:29.4	It's actually a four-unit building.
0:31.7	And we rehab the two retail stores downstairs, and we'll keep one is the liquor store.
0:36.2	And the liquor store will actually
0:37.9	pay a thousand dollars a month in rent to the building welcome to a real world MBA from the
0:47.2	school of hard knox where entrepreneurs reveal what it really takes to make it whether you're
0:52.1	already in business or you're on your way there, this show is for you. This is Bigger Pockets Business.
1:02.6	How's it going, everybody? I am Jay Scott. I'm your co-host for the Bigger Pockets
1:06.4	Business Podcast, and I am here again this week with my amazing and lovely wife and co-host,
1:12.2	Mrs. Carol Scott. How's he going today, Carol? Oh, everything is going super today. And before we
1:18.1	get started, I just have to send a big old shout out and thank you to you, Jay, my amazing baby daddy
1:27.3	slash husband. It was Father's Day two days ago. And you are by far
1:33.7	the most incredible, wonderful, loving, fantastic role model for our two little boys. And I'm so
1:40.8	grateful for you. You're an amazing husband, an amazing father, an amazing business
1:45.1	partner and partner in crime in general. So thank you for being you. I love you and appreciate you.
	...

Transcript will be available on the free plan in -1738 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.