Do you get rich owning a small business?

In life, I want to make over $80,000 or possibly $100,000.
Do small business owners make that much?
I am wanting to open a espresso coffee shop. Will I most likely make over $80,000?

If you own a small business, how much do you make per year?

You could make that and more if you seek ways to stand out from the rest of the coffee shop crowd. This might sound strange but you can get a great idea of what I mean by reading a book named FISH written by Stephen C Lundin, Harry Paul, and John Christensen. The book could spark some ideas on how you could stand out from the crowd.

I hope this has helped.
BEST WISHES!

1/3 of small business fail within the first 2 years, 56% after 4 years. It's a risk.

Not always you have to think of rent for a building and utilitys and also if you are slow for the month and then pay for the product like cups, coffee, ! My husband has a gas station an no they make no money!

95% of all small businesses fail within the first 3 years. Reason - lack of capital investment. Translated - people think you will make a profit on a business in year one.

An expresso coffee shop, out of a store front, will probably cost $200k to purchase everything you need, renovate, lighting, electrical. If you do well, you might take in $100k in sales, with $30k in profit (including starting to pay off capital investment). Over time, your business will grow, the capital cost will decrease, and your profit will increase, or you'll go belly up because a Caribou coffee will open up down the block.

Biggest problem for coffee shops are that once you have a good location, a chain finds you and takes you out - perhaps a tea shop would be a better niche if you're in a liberal area where people would drink tea.

Restaurants have the highest failure rates - bars a lower failure rate, but you have to buy a liquor license and pass lots of tests.

This question has too many variables that will affect any definitive answer. Is it possible to make this much? Yes. Is it guaranteed? No. Can you make more? Yes.

It's pretty easy to gross over 100k in your own business. The tricky part is to hang onto it! Between taxes, payroll, materials etc. Also being self employed means you have to be good at saving. (I'm still learning that part, lol). There will be times when you have a lot of cash in the bank that doesn't belong to you, but it sure seems like it. Then there will be times when you're totally out of moolah because of unforeseen circumstances. Do your research and be self disciplined. Pay your taxes and your other "must pay" bills first. If there's any left over, then you can keep it. But then again, it's always better to put it back into the business to grow. It can be an exhilarating roller coaster ride sometimes, but I would never go back to working for someone else.

Well it depends what your going to do i may be young but i happen to know a lot about the business world. If you sell something the people around you want then you will make a good amount of money i wouldn't call it "rich" though. But over time your business will eventually get somewhere if it is a good idea well good luck!

If you are opening a business only to get rich......I'd find a good paying job instead. Owning a business requires a self motivated, unselfish person to run it. You will have your ups and downs and you will need to learn to live with it.

As far as making that much in a year, YES......it's possible. Don't expect to come out making that to start with. Typically within the first 3 yrs the IRS expects you to not make a profit. Your overhead is high and until you get your customer base set and some of the equipment/building paid for, you will show a loss.

There are alot of things that factor into this question and it's tough to give a straight 100% fool proof answer to. If you want to own a business and find the right area to open your coffee shop in, chances are you can make that in a year. Remember tax man will take a huge chunk of it but once you get into BUSINESS MODE, you'll learn how to show a profit and still make money.

Good luck

Concentrate on customer satisfaction and the welfare of your employees BEFORE a profit. If you've got a quality product,then your customers will keep frequenting your business. If you try scrimping here and there trying to get "taste alike " ingredients,it'll show and you'll lose your clientelle base.
Word of mouth is a powerful tool.

Carpet cleaning is a great opportunity. You get to be your own boss and set your own rates http://www.geocities.com/dfriend27/MainP...

Have you heard of an internet business?
Personally, I find that an internet business is an easy way to create an autopilot income because:
1. Requires small to zero capital
2. Gets started right away and easily
3. Allows you to work from home or anywhere in the world as long as there is an internet connection
4. Has unlimited potential to earn money
5. No age or education requirements
6. Doesn't need you to have to have a company

What you need to do is to learn about the internet business as much as possible to discover whether it is for you and what your strategy is. There is free information around. Good luck.