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Megan C
Megan C , Certified Public Accountant (CPA)
Category: Finance
Satisfied Customers: 16539
Experience:  Licensed CPA, CFE, CMA, CGMA who teaches accounting courses at Master's Level
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I am considering buying empty lots in Detroit and partnering

Resolved Question:

I am considering buying empty lots in Detroit and partnering with a non-profit to have them cleaned and maintained. Then turn them into dog parks and the such. Is this a viable business plan?
Submitted: 3 years ago.
Category: Finance
Expert:  Megan C replied 3 years ago.

MyVirtualCPA :

Thanks for your question, and thanks for using JustAnswer.com

MyVirtualCPA :

How are you today?

Customer:

I'm well and you

MyVirtualCPA :

Typically, a dog park does not actually earn revenue - it's typically a non-profit endeavor

MyVirtualCPA :

where you would get grant money from various nonprofits or cities to maintain and keep up the properties

MyVirtualCPA :

but you would not be charging a fee for people to actually use the dog par,

MyVirtualCPA :

park

Customer:

Could a sign asking for digital donations be used?

MyVirtualCPA :

Yes, that could be used ... but donations are voluntary and there's no guarantee that you would get enough donations to keep the park maintained plus give yourself a good salary

Customer:

A good salary is not necessary, however not having to bear the brunt of keeping up the park is.

Customer:

Thank you.

MyVirtualCPA :

The best way to do that would be to be a nonprofit and get grant money from other nonprofits and cities

MyVirtualCPA :

I'm sorry if you expected differently

Customer:

Oh, no problem. I just wanted to know either way.

Customer:

Thank you.

Megan C and 3 other Finance Specialists are ready to help you
Expert:  Megan C replied 3 years ago.
Jamarr,

Glad I could help you again with your issue! Please feel free to request me directly next time you need a question answered. It was a pleasure working with you today.

Megan
Customer: replied 3 years ago.

Ditto. Thank you for the straightforward answers.