i will think of you guys every day.
good luck and god speed.
i will think of you guys every day.
Tell Bill to keep his head up. Its not his fault.
I will and thank you all so very much. I’m still hoping for a miracle this weekend -
Ill pray for you. Your in my thoughts I hope to see the miracle on your next post. Good luck in everything that you do.
I have been one of your biggest fans, but I have to say somthing about the situation.
I dont think the business is worth what you are behind. If you were to sell the equipment you would probably fetch 10k or less at auction…maybe much less. From what I have seen and read I dont see goodwill being worth 60k and based on your sales and lack of profits I can see why you cannot get any new financing. The bank knows better and you guys definately have work cut out both longer and shorter term.
If you have to rob Peter to pay Paul (run some outrageous sales promotion that in high liklihood you are losing money on) then this bandaid isnt going to take you very far.
I wish that there was an easier solution, but in the end you are the one paying the bills and working the long hours for next to nothing. I think your only solution is if you have any assets that can be turned into cash or relatives/friends who believe in you, or maybe like you say it could be better if you cut your losses and moved on.
I really think you could make it work, but it would take some even MORE serious changes than you have done in the past and a change in approach and thinking.
YOU GOT IT ON SLAM …WE HAVE SAME PROBLEM FOR PRICING on 1 topping
- LITTLE CEASEAR FOR $ 5.oo
- pizza locca for 4.95
- pizza patron for $ 4.95
- inde pizza for $ 4.50
i have to do it 4.95 or special for $ 4.50 and is still complaine from cstomer for pricing …
does any one sugest that i do $ 3.99 on one topping… to laure customer back…for your info all this pizzarias are in 500 ft from each other and me…
we are carry out franchise only doing large 14 " pizzas and wings nothing else on menu… no delivery or dine in…
all comments and suggestions will be appriciate it…
keep your self high with pride and dont ever fill down…you and bill are good people with hard working ethics…hope that all the good deed that you have done is gona come back to you in sooner time period…in mean time stay focus and talk to bill he is by him self and give him strengths…
keep in touch… will see you successful soon …
I would say try and make it work another month/few weeks if you can.
You say yourself that if you knew now…Well you do know now.If you truly believe that if you could start over fresh you could make it,then do the strategies that you now know.I will be opening in a few weeks and will be facing the same things you are.
If you have to, for the time being take an extra ounce of cheese off of the pizza,48 wings instead of 50.Make sure to make it up to them later.Desparation calls for desparate measures
Another thing you can do… if you think you can turn things around within a month or two (and I don’t normally recommend this but the option is out there for you if you want to try it) is to get one of those credit card loans. They’ll lend you working capital and you pay them back over a period of 6 months to a year, depending on how long you’ve been open. I think is 150% of your monthly credit card income is what they’ll loan. So, if you do $10,000 in credit card sales per month you can get a loan for $15,000… within a week. You pay back this money through your credit card transactions. If you have a slow credit card month they don’t take as much out… busy month, they take more out.
The drawback is that you’re mortgaging your future because you need to increase your sales to pay for this. Think:
$15,000 / 12 months plus interest = approx. $1,700 per month. Which means you’d want to increase sales by about $6000 per month so you won’t be affected by this.
However, you can devise a plan to use this money wisely:
Only pay the stuff that’s due RIGHT NOW (and hopefully it’s significantly less than $15k). The rest of the money put into an advertising campaign (that you’ll prepay) that will last for the next couple months. I would recommend you do one significant marketing event every week for the next 8 weeks.
You already know what works for you: direct mailers and doorhangers so that would be an anchor for your advertising campaign. Hope this helps. -J_r0kk
You know, Gob,
We are sad that we were not enough help to you to get it back moving in the right direction soon enough. You should take heart that to took the shot that so many people wish they had the courage to take. Lessons learned are often bitter-sweet whne learned too late in the game.
I hope you get a chance to take another shot at the brass ring and find a businesss opportunity that flies high for you. If the credit card loan tyhing appeals, then best wishes for a healthy ad campaign. If closing the doors is in your cards, know that you’ve made a contribution to us and go in our highest respects for taking the jump to correct your situation as best you could and with the resources you had.
You’ll be remembered and welcome back here any time . . . even if you don’t own a place of your own
You know I have to say something remember me? Im in the same boat as u, and I remember you saying your on a train and your not stopping till the steam runs out! Dont give up its getting ready to explode trust me your biz is about to do very well. Look at your #s from 5 months ago there not the same gauranteed. I have my wife who is depressed and im the positive force in our relationship as I can tell u r? Everything happens for a reason u just didnt stumble over this website…take a deep breath and move forward getting Bill to get ready to open Monday. I think every1 has to go through some situation in biz those that r smart and know how to make it work will win…And that makes the difference of success and failure.
Good Luck and stay positive, Lord knows Im trying to.
YOU GUYS ARE THE GREATEST!!!
This is what is happening. I talked with our landlord and she doesn’t want us to close so she has waivered the rent for a couple of months. She feels that with the weather getting better and all the tourists coming in that our sales will get much better.
My loyal employees got together and stated they would work for free just to get us through the weekend. My manager worked on a schedule and cut my labor down by $300.00 for this week. My employees tell me that they would rather stay with us, get the place booming again instead of having to look for another job.
Now, my daughter and son-in-law, somehow got some money, not much around $1500.00, and deposited it into our business account. They have both offered to work for free in their off hours. My son-in-law has committed to 16 hours a week. My first mother-in-law (from my first marriage - my first husband passed away very young) has stated that she will pay for our direct mail each month until the business gets it’s sales back (which will be pretty quick as direct mail always brought in about $1500 to $2000 extra a week.)
Bill has decided to try it for a little longer seeing that everyone is pushing to keep us alive.
As I type this e-mail, I am printing more flyers and plan to go out with my kids to do more door hanging today.
I just can’t seem to give up the ghost . . . everyone’s support here on PMQ is wonderful and keeps me going.
Gob and Bill
Great to see you are taking adversity head on. Strength to you.
Stay positive and think that what you have been through is as far low as you will go. The only way now is up. Don’t consider anything else but this from now on.
The real strength outside of yourself and your business is the great bunch of people who frequent this site and freely give advise, encouragement and humour. I know they have helped me immensely and I only wish I could visit the US and Canada and meet up with these great people and have a beer or three with them.
In all that has happened and in the coming months don’t forget to stop and smell the roses.
Good luck to you both.
Now THAT is how a business stays alive through adversity!! The greatest strength you have appears to be the relationships you’ve developed along the way, huh? It ain’t $60,000, but it is sure a sign that the people around you believe in your business and what you are doing.
I am glad to hear you are sticking it out. I personally believe that what you told us just now is the REAL american Dream. People with vision and integrity starting up a business that gathers momentum and strength from the people involved and makes a real impact on the community. Anyohe with a ton of money can throw up a business and give it a go. It is this sort of story that shows that there is a need and a respect for your business.
Kepp the faith and keep the pizza ovens hot. It sounds like all your recently-found wisdom and expertise will get a couple more months to make a difference. Hooray!
I’m glad you’re finding the strength to stick it out. This is not an easy business, I think quite a few of us have been in your shoes.
Have you considered selling gluten-free pizza? This literally saved our business 2 years ago. We have people coming to our place from 50+ miles away, and bringing their family with them! I can almost guarantee you that there isn’t another pizza shop within 100 miles of you with this. 1 in 139 people has celiac disease and can’t get pizza anywhere!
Other thing to consider is bankruptcy. I know, nobody wants to do that, but you should at least talk to a lawyer about it. If everyone is willing to help you as you described, and you wiped out all of your debt, you would have that truly fresh start that you need. I’m no expert on the subject, but at least go for a free consult.
GOOD TO HEAR
WOW, C its abeatiful thing told you things dont just happen for no reason!
Im jealous wish my landlord would give me a month or 2 :lol:
Can you explain how you do your direct mail ? Do you saturate your zip code? What is ROI (Return on Investment)? How much does it cost you to do this???
Thanks! Your post made my day today
Bankruptcy is a precarious venture. It has benefits when the situation calls for it . . . also the drawbacks. Certianly better to takwe the repreive and soar like an eagle to make the shop thrive like you know it can.
If you are curious, do talk to an attorney. They sometime give free consultations. Not only are there the law issues, but also the matter of the judicial atmosphere in your state.
- What follows is not legal advice, and you should consult an attorney licensed to practice law in your state * *
GA is generally pretty debtor friendly in the BK courts. Chapter 7 debt liquidation involves the trustee selliong all saleable assets. I would suspect that the restaurant would fall under a saleable asset in this situation. There are Corporate/business structure issues and personal issues and all that to consider. If you are not set up as a business structure with “corporate shield” sort of thing (C-corp, S-corp, LLC for example), then there is exposure to your personal assets including your home, car, retirement accounts, savings, stocks, and other private property/assets.
Chapter 13 is basically debt restructuring wherein you promise the creditors you are delinquent with that you will catch up you delinquencies within at least 5 years . . . you have to make all your current debt payments on time and in full, PLUS “makeup” payments to catch up your delinquencies. Judge can shut down the BK case if you get behind again.
<<No expert, either, I just worked 9+ years in Bankruptcy/Foreclosure law firms that represent creditors >>
Im so happy to hear that. I hope you start getting slammed. Good luck- chin up! Youve got so many people pulling for ya!