First of all, I appreciate you taking the time to answer my question. Here is my situation in a nutshell:
Last year, I purchased a non-franchised pizza shop (1,000 sq/ft) in a business area in Lake Forest, Orange County, CA. The store is sandwiched between a Quizno’s and a sausage shop (Haute Links) in a small outdoors shopping strip that includes McDonalds, KFC and Starbucks. There are a lot of businesses around. There are also residential houses and apartments within one or two mile radius. At the time, the owner had minimum staff and was not doing a good job keeping the place clean and desirable. They were open weekdays only and used to close at 3:00 PM every day. When we took over, our first couple of months, we sold about $350 a day. We worked on the store and cleaned it out (our image and the inside of the store). A lot of equipments also needed fixing which we slowly took care of. We added some of our own recipes and tried to make everything fresh and tasty. We added delivery and night business. Our hope was to increase the lunch sale that belonged to the business customers and develop the dinner and weekend sales that we were hoping to come from the residential area. We used a variety of advertising mwthods. Penny Saver, Restaurant on the Run, etc. We also did direct door-to-door flyer distribution. Incidentally, so far, flyers have proven to be the best means of attracting customers. Now, after exactly one year, here is our situation: We are selling about $650-$700 a day. Our day business supplies the majority of it. Our night/delivery business is very inconsistent and not really great even in best times. Our weekends have also been very slow and inconsistent. And due to labor problems, I have been forced to close some weekends as well. I have been pumping my own money every month into the store since I bought it. My rent and CAM are $3,600 and the gas, power and phone comes to $1000 per month. Now, here is my question:
Am I fooling myself into thinking that if I stick around for another year and spend money from my own pocket, I will eventually make it? How do you analyze this growth that I had within the past year? Any advice and insight will be greatly appreciated.