Owning businesses with EAD/SSN
 

Fellas, I'm sure this has come up before but I missed it. I'm assuming we will be able to start businesses after getting work authorization/SSN. Am I correct? I'm thinking about getting a couple of subways..couple dunkin donuts maybe a liquor store or two. Officially start my empire..Gotta go hard na mean. So any fellow dreamers knowledgeable with this holla back one time.

Re: Owning businesses with EAD/SSN
 

You read my mind!! I have an uncle (well my dad's best friend) and he is in Connecticut and owns two subwas and my mom has prior experience since she worked in one and had a post of assistant manager. It is a thriving business and you can't go wrong. the only thing i hate about it is in TX they have too many and within a close vicinity. The corporate peeps figure that if one subway can't handle enough customers (which the flow comes mainly during lunch hour) they study and build another within a couple of blocks and u loose some of ur customers, unless u create an environment like mom/pops business.

Dude I am excited to hear something like this from a fellow dreamer. Gives me a push as well.

In Texas anyting to do with a beer license/Liquor requires a proof of residence (the least they will accept is a Green Card). I am ready to move states if I find a loophole in another state for a proper business. I work in a C-store currently and was able to build the business from falling down and today my boss is making beaucoup money. Worked in this field since 15 and Managed one for 5 years. A part of me wants to go in it again but the hours in Texas are excruciating for a beginner and u can't rely on the help at the beginning.

Well what the liquor license requirements are in Connecticut.

good luck

Re: Owning businesses with EAD/SSN
 

That's an interesting one. I'm not 100% on liquor license requirements in Connecticut but I do have a feeling you might need a green card :-x But again I may be wrong. I really don't see why somebody can't own a business with work authorization. There must be some type of rule within that makes this possible. Maybe you can find a reliable partner with a green card, get the license under his name or something and have you in the agreement. Something like that might work. Let me tell you though northeast is great for liquor businesses and the state with the best laws to help liquor store business owners is without a doubt Connecticut for a number or reasons. One, chains like Stop and Shop are not allowed to see liquor. Second, there is no discount buy like New Jersey and other states. Therefore, Stop and Shop and your small liquor store will have the same cost for each unit regardless of the quantity ordered. btw with me, I would definitely be interested in doing something like this down the road. I'm not giving up my original dream which is to work in an office setting. But with this economy, its great to diversify and owning businesses can be a real life saver if you have bills like mortgage and car payments to make. Gotta think fast man. Now is the time.

Re: Owning businesses with EAD/SSN
 

Yes, u can. U can even start one with ITIN.
This is for C corp only, which I think it works for liquor store. But I m not sure about Franchaise.

Re: Owning businesses with EAD/SSN
 

Now days subway and Dunkin both required green card or USC, I know this b/c my dad owns 2 subway he bought it before they put green card rule in application 2 yrs ago, my dad has workpermit but they won't accept that so now he can't buy anymore stores but he get to keep what he got.

Here is my advise: most new franchise don't required green card or USC, so you know where to start from. My self I like to go with new brand so I can get my choice of territory and my choice of location. Subway and dunkin makerkets are alredy been taken so its hard to find stores on sale woth resonable price.

Re: Owning businesses with EAD/SSN
 

No you can't start with ITIN since they also do background check through your SS#.

Re: Owning businesses with EAD/SSN
 

yea I'm thinking about opening a Walmart or a Pollo regio once I get my social.

Re: Owning businesses with EAD/SSN
 

You can start a business with an ITIN, the problem arises when you start applying for licences. For instance, you can go to your secretary of state and incorporate a new business & get the federal identification number for it but, depending on the nature of your business you may or may not need to apply for certain licenses, that's when they ask for background check and SSN.

Starting a company is no problem, getting some of the permits and licenses is. I do this everyday for people who do not have a SSN, there is always a work around stuff if you read between the lines and apply some knowledge of business law.

Re: Owning businesses with EAD/SSN
 

I'm going to be following this thread... I have nothing to add, but I want to start my own businesses as well!

Re: Owning businesses with EAD/SSN
 

Subway would be a 100% sure thing if u put the effort. It is one of the top franchises and the marketing is superb. They will always innovate and the chances of failure are slim. I am thinking of it. Liquor store and coffee shops up north do well and the markup is awesome. Coffee all year round lol