I interviewed a 38 year old lady on the phone this week. Talk about just a normal business, she started about 5 years ago when she opened a small ladies clothing boutique shop. It did well, she opened a second shop about a year ago, and has a schedule to open 3 more in about 6 month intervals. These extra 4 shops are how she is scaling her business. I will not say her exact numbers, but one store might make her about $70,000 a year net, 5 stores will simplistically make her about $375,000 net. From there she has many options, more stores, franchise, or maybe get a headline that reads “Two Million Dollars for Ladies Clothing Boutique”. This is exactly what I am talking about, an everyday type of business with good execution and scale can get you One million in the bank or more.
It was not her field of expertise at all, she was in human resources. A year before she quit, she sold cloths part time while keeping her job, just to get the experience. She also started working on her business plan about the same time and kept working on it for that whole year. Then she quit and started her little boutique store. She needed about $150,000 to get into operation and last about 6 months, but she cashed flowed and the business carried itself after that. She was able to get a loan which she repaid in the first year, but if you cannot get a loan you can still raise the money with partners.
Almost any business can make you a millionaire, but you must execute then scale the business. If she had never opened her second store, she would have a fun job, but not financial freedom.
Note: This is not her store.
“All our dreams can come true, if we have the courage to pursue them.” – Walt Disney