The Fours new restaurant in Norwell, Boston
Every city with a decent expat population and a thriving tourist scene needs a really good sports bar, at least in my opinion. But I’m still amazed at how few places seem to have one. Whether it be college football, NBA, rugby, soccer, or Major League Baseball — chances are good every guy (I’m guessing most of those reading this are guys) loves some sort of sports. Meaning the market is there.
As a guy who is not a sports fanatic, but definitely a fan — I still want to watch all the big games no matter where in the world I am. However, I found no venue to watch the march madness final live in Chiang Mai a month ago. In Siem Reap, there was only one bar playing the super bowl live at 6 am (the bar was packed).
Of course, the business idea here is to open a killer sports bar in whatever city you want to live in — and provide a great sporting experience for expats, tourists, and locals alike.
What’s needed for a killer sports bar?
- More TVs
- Comfortable seating
- Satellite Cable — access to live events all over the globe. You need the ability to play multiple games at the same time as well (I know some satellite services don’t allow this). Make sure American football, baseball, college basketball,
- Willingness to open your place at extremely odd hours to play large sporting events such as the super bowl and the NCAA final LIVE
If you like watching sports, what’s not to love about this business idea?
Ever dreamed of being a Wall Street kingpin? If you could pool investment money and use it to buy income-producing websites, you could literally start your own mini hedge fund.
There is a healthy marketplace for websites on Flippa.com and other sites, and I think there a massive opportunity to build a real business around this idea.
A website will typically sell for 6-24 months earnings, which in a traditional sense is an insanely low multiplier. In investment terms, that would mean 50 – 200% returns!
If you can attract investors looking to diversify and potentially destroy the returns they’re getting from stocks or other mutual funds, you’ll have a limitless pool of funds to draw from.
Let’s say you average a 50% return on your website acquisitions — that’s huge! Share the proceeds amongst your investors, keep some for profit and overhead, and repeat.
What you’ll need:
- Become an expert in Flippa and other website marketplaces. Learn how to evaluate the value of each sale and how to separate the winners from the duds.
- A maintenance / monetization staff. Good income-producing websites are mini-businesses themselves, and it’s rare to find a business that runs completely on auto-pilot. You’ll need a small team (think virtual employees) that can handle content creation and general troubleshooting issues.
- Some starter funds. Although you can get started in this business for less than $500, it will take more to build a serious and sustainable portfolio. In a venture like this nobody wants to be the first sucker, but if you can generate some consistent returns over time you’ll have people beating a path to your door.
Because the Internet is a young and constantly changing medium, this business idea is certainly not without risk. Among them:
- Regulatory red tape. You’ll have to be careful how you market yourself to avoid trouble with the SEC.
- Liquidity. If you (or your investors) need to cash out, it could take some time. Selling a website isn’t as easy as selling a stock.
- Google drama. Many sites are monetized via AdSense, which is becoming notorious for arbitrarily shutting down whole accounts. Diversified revenue streams will help mitigate this risk.
Still, the rewards and upside potential make it worthwhile to figure out a way around the challenges.
I think a pretty cool business could be built around this idea. All it takes is someone with the ganas to start it.
Business ideas are a dime a dozen. You can find them anywhere, and everywhere — including here on business ideas 24/7. But no matter what business idea you choose to actually tackle with your time and hard earned money — you need to CARE. It doesn’t matter how much time or money you throw at it; if you don’t care deeply about the problem you are working to solve, your business WILL ultimately fail.
Mark my words on that.