• Submit “Good News”
  • Where to Find eMetro Times
  • eMetro Advertising
  • Contact
  • Login
  • Register

Logo

Navigation
  • Home
  • eMetro News
    • Rockdale
    • Newton
  • Lifestyle
    • eMetro Eats
    • Share the Love
    • Hometown Hero
  • Education
  • Sports
  • Expert Advice
  • Events
    • Add Event
  • Business Directory
    • Pokemon GO Locations in eMetro
    • Bridal Guide
    • Home & Garden Guide
    • Classifieds
      • Place Ad

Dave Says…Funding a New Business

By Dave Ramsey | on December 13, 2016 | 0 Comment
Expert Advice Featured Financial

Dear Dave,

chicken_farm_034We’re completely debt-free with a fully funded emergency fund and we have $350,000 sitting in the bank from a land sale a couple of months ago. My wife and I would like to buy a chicken farm with two houses and upgrade it to contract standards. This — plus the stock — would cost around $290,000. I would keep my regular job and my wife would run the farm. An investor friend of mine said I should finance the entire business purchase. What do you think about this scenario?

Darryl

Dear Darryl,

Either do the deal with cash or don’t do it at all. Your investor friend is full of crap and there’s a good chance he doesn’t have nearly as much money as you do. He’s probably got more bad opinions than dollars.

Now, the pro formas on the kind of thing you’re talking about are incredible. They can make a ton of money, but they’re a lot of work — I mean real, hard work. Some are more high-tech than others and that can mean a little less work, but someone’s got to be out there every day with their hands on this thing or you’re going to be in trouble. I don’t know the ideas you have for divvying up the work, but I’m afraid it would just be too much for one and a half people.

I don’t mind you doing the deal, as long as you pay cash for it. But if you’re looking to invest, there’s always real estate — it seems like you’ve done pretty good there — or maybe another small business idea. Whatever you do, you need to stop listening to your friend about borrowing money. You’re liable to turn what was a blessing into a curse if the two of you go borrow money on a chicken farm.

—Dave

Share this:

  • Tweet

Author Description

Dave Ramsey

Dave Ramsey is America’s trusted voice on money and business, and CEO of Ramsey Solutions. He has authored seven best-selling books, including The Total Money Makeover. The Dave Ramsey Show is heard by more than 12 million listeners each week on 575 radio stations and multiple digital platforms. Follow Dave on Twitter at @DaveRamsey and on the web at daveramsey.com.

No Responses to “Dave Says…Funding a New Business”

Leave a Reply Cancel Reply

Connect with:
Facebook Twitter

Your email address will not be published. Required fields are marked *


*
*

Tags: business purchasefinancenew business

Recent Posts

  • NCSS Announces 2016 District Science Fair Winners

    December 21, 2016 - 0 Comment
  • Why Hire a Real Estate Agent to Lease Your Property

    December 21, 2016 - 0 Comment
  • Conyers a Partner in “Georgia’s Undead Trail”

    December 21, 2016 - 0 Comment

Related Posts

  • Dave Says…Time to pay it off!

    May 29, 2013 - 0 Comment
  • Dave Says … Move or Set Family Boundaries?

    May 28, 2013 - 0 Comment

Keep in touch, ya’ll

Keep informed of what's happening in East Metro Atlanta. Subcribe to our Newsletter

RSSSubscribe

eMetro Times Photo Location Contest

Pet of the Month Contest

Pet-of-the-Month-website

eMetro Times Print Edition Online

eMetro Times Photos

Load More...
Tweets by @eMetroTimes
Mostly Cloudy
Wednesday 12/21 0%
Mostly Cloudy
Mostly cloudy. Lows overnight in the upper 40s.
Partly Cloudy
Thursday 12/22 0%
Partly Cloudy
Sunshine and clouds mixed. High 63F. Winds WNW at 5 to 10 mph.
Clear
Friday 12/23 0%
Clear
Sunny along with a few clouds. High around 55F. Winds E at 5 to 10 mph.
Wunderground.com

Popular Stories

  • Rockdale Medical Center Chief Medical Officer Receives Prestigious Georgia Hospital Association Distinguished Service Award Rockdale Medical Center Chief Medical Officer Receives Prestigious Georgia Hospital Association Distinguished Service Award posted on November 22, 2016
  • It’s a Record Breaking Year For the Race Against Violence It’s a Record Breaking Year For the Race Against Violence posted on December 16, 2016
  • Kingdom Builders Presents 2016 Big Toy Giveaway: A Christmas Spectacular Kingdom Builders Presents 2016 Big Toy Giveaway: A Christmas Spectacular posted on December 19, 2016
  • Hometown Holiday Events Kick-off December in Conyers Hometown Holiday Events Kick-off December in Conyers posted on November 24, 2016
  • East Metro Toy Party Comes Just in Time for the Holidays East Metro Toy Party Comes Just in Time for the Holidays posted on December 15, 2016
  • Celebrate the Season with Main Street Covington Celebrate the Season with Main Street Covington posted on December 1, 2016

Featured Listings

  • The CORK growler and cigar shoppe
  • DC Hobby Shop
  • Cherokee Run Golf Club
  • Atlanta Gran Prix Karting
  • ZazzieU Boutique
  • By Design International Salon
  • Wild Art on the Square
  • Conyers Jewelers
  • Westmoreland's Time Shop
  • Conyers Pharmacy

Event Calendar

<< Dec 2016 >>
M T W T F S S
28 29 30 1 2 3 4
5 6 7 8 9 10 11
12 13 14 15 16 17 18
19 20 21 22 23 24 25
26 27 28 29 30 31 1

Events

  • Alcovy Casa Warm Coat Drive
    • 26 Nov 16
    • Covington
  • Ice Days
    • 1 Dec 16
    • Conyers
  • New Year's Eve on the Square
    • 31 Dec 16
    • Covington
  • Ice Days
    • 1 Jan 17
    • Conyers
  • Open Mic Singers & Songwriters Showcase
    • 3 Jan 17
    • Conyers
  • The Renegade
    • 21 Jan 17
    • Conyers
  • Home
  • About Us
  • Privacy Policy
  • Terms of Use
  • Contact Us
Copyright © 2016 Alcovy Enterprises, LLC dba eMetro Times. All Rights Reserved.
Web Development & Marketing Managed by Alcovy Media.
Login

Connect with:
Facebook Twitter

Register | Lost your password?

Register

Connect with:
Facebook Twitter

A password will be e-mailed to you.

Log in | Lost your password?

Reset Password

Log in| Register