Looking at second location, input please?

Hi, seeming to have our location under control ( I must be confused) I am looking at a second location.
Delivery and take out only.
The facts…
Existing non restaurant business for sale with 3 yr renewable lease in freestanding old building.
Has over 200 customers a day.
Building has unused 900 sq ft area that could be suitably reno’d for approx $15,000 plus equipment.
Within one block of elementary school.
Next nearest property zoned for pizza 3 miles away.
Within two mile radius over 400 new houses/condos being built.
Most within one mile.
One chain delivers to area. Little Caesars. Not an issue as I charge about four times as much.Wouldn’t feed that stuff to my pet.
Three independants deliver to area. Two try to compete on price. Different market.
Third actually used to produce a very similar product at same price point.
Now those of you that read the post "cooking pizza with a convection oven " good natured battle royale will not believe this next “factoid”, however, it’s true!
I visited this closest potential competitor before and after he changed ovens. The very helpfull employee told me that they recently had to change from a deck oven to the “new to them” 20 yr old conveyor as they were too bsy and could not keep up. It produces a nice pie if you like it wet and uncooked in the middle. He went on to say that they have got a lot of complaints since changing ovens.
Existing business would support full lease etc during reno.

The questions…
Am I insane?
Would anybody pay me a finders fee to step aside? :lol:
What other info do I need to compute estimated gross businesss available?
Wild guess at $250,000 first year?
3 yr newbie… Clive

boatnut:

Now those of you that read the post "cooking pizza with a convection oven " good natured battle royale will not believe this next “factoid”, however, it’s true!
I visited this closest potential competitor before and after he changed ovens. The very helpfull employee told me that they recently had to change from a deck oven to the “new to them” 20 yr old conveyor as they were too bsy and could not keep up. It produces a nice pie if you like it wet and uncooked in the middle. He went on to say that they have got a lot of complaints since changing ovens.

Click to expand...

Well, you knew I’d jump in on this one didn’t you! :roll:

Would I believe it - YES.

It is possible to cook a bad pie in any oven - not just a conveyor, and as I tried to point out last time if any oven isn’t set up properly then you’ll get bad results. A lot has changed in 20 years and comparing a 20 year old conveyor with a new conveyor is like comparing a like black and white. Interesting that they decided to move to conveyor as their deck couldn’t keep up - the good news for you is that they obviously haven’t got a clue about cooking their pies.

re the 2nd store - what is its ‘non restaurant business’?

Convenience store. Open 7-9 seven days a week.
Comment re the conveyor was meant to show the volume and growth he was experiencing, not a strike at conveyors.