Closed due to regulation: Seth Rabinowitz

We shut our business down directly as a result of overregulation from the city, county, state and federal government.

I collect Porsches. Exotic cars have always been an interest of mine. This gave me an idea for a business, buying and selling cars.

It is a very highly regulated business. What used to be a very simple business became very complex and expensive. The business model is very simple: Buy exotic, domestic vehicles of various makes and sell them to people in Europe and the Middle East.

The irony is that I was good at navigating Europe’s regulations, which are worse than the United States. But in the end, it was the regulations here that caused me the most problems.

Carzini opened in Palm Beach, Fla., for six months, in 2010. Florida is supposed to be a pro-business state compared to other states, such as New York and California. But it didn’t seem that way when we were running the business.

Read more of this CNN Money article by clicking here.

Photo: Seth Rabinowitz