Ownership?
Hi all! I am 10 years out of school and finally looking into ownership. But the rising cost of staff, materials and just the economy in general has me feeling doubtful. I currently make 300k-350k as an associate working 3-4 days a week at a bread and butter practice. I feel stuck in my career and income which is what has led me to think of ownership.
And my bigger question- how do I pick my startup location. I did a demographic study for my area (mom with young kids- don’t want to drive further than 30 mins) and it came back with the top ranked areas right next to me. One is slightly rural (which is great) with huge farms and big houses. But then there is no real estate available for lease/ sale. Even then, Most retail spaces are very old looking. I am also worried about the population density. On the other side is a very busy and saturated suburban area where there are a few spaces for lease.
Question to you- would you go on your own if you were in my shoes?
Location- Should I just go with the saturated market given I am getting a retail space or should I wait for something to come up in the rural area?
I am also open to buying if a good opportunity comes along.
For reference- I am in the DMV area. If you live here, you know what I’m talking about.