Should I Lease or*

Pizza Shop Talk The Think Tank
1

Hello friends,
I bought this building and some equipment to run my own pizza. Very good location for a pizza business. I requested my friend J_r0kk for assesment and he obliged(thanks j_r0kk :wink: ) and opined “looks like you just hit a jackpot my friend”=A+++ for me. I could run a pizza place but i think I have got enough burden running my gas station and car wash. Stress is the only drawback.
The question is: should I rent/lease the building if I take home $2k after expense? Of course I could pay off the credit line and save another $1k per month within a year=easy life,less stress.
Your opinoin please.
Thanks.

2

I am the original poster,
Little Caeser,Pizza Guyes,Papa John,s plus some locals have shown interest in leasing.

3

I am not sure about everybody else but my years making pizza are meant to finance purchasing real estate so that I can collect rents down the road and not put in these hours forever…I guess that’s a vote for LEASE

4

Thanks Perry,
Thats what I am trying to establish. Originaly I thought about starting a pizza, then selling the business for $$ and collect the rent. The STRESS :evil: I don’t want. Any thoughts about leasing options? Should I go for big guns or the local pizza operators? I am kinda vary of the "BIG FISH’ You know, more stress=:twisted:
Thnks for your advise.

5

LEASE IT!!! Lease it to whoever is willing to pay the most and has the best credit. This is not always the franchisee of the big company.

6

punjabi,

It all comes down to the situation you’re in. If you’ve already got this gas station and carwash with noone to manage it you’ll probably find yourself suffering in the long end with more stress than you can deal with. Take a look at your situation and what you want out of life. Owning a pizza store means you must dedicate a large portion of your time towards the operation of the business. Owning a pizza business is not a business that will occupy a part of your life but is something that actually defines your life. If you lack the dedication to run this business to the best of your abilities because you have other interests bogging you down then don’t do it. It’s much safer to pull in the $2,000/month for 5 years with two 5 year options on the back end.

Also check with the real estate companies in your area. Find out how much leases are going for per square foot. There’s no reason to give this prime spot to someone for $12/foot when the market dictates $18/foot. Good luck. -J_r0kk

7

Good luck with making a killing off an established restaurant. You’ll put in way too much work, consider it your child, and then try to kill the next owner for “child abuse” :). On top of that, you’ll almost have to give the business away in many cases.

8

Snowman,
I would be happy to get a long “paid” vacation if that means I pocket some college funds via down payment only to have some idiot default and go back to work.

9

Thank friends,
I am going for the lease(my wife couldn’t be happier :slight_smile: ). Got more than enough business on hand with my gas station and car wash venture. Got the talent, great iadeas (thanks thinktank), good concept and on top of everything, a killer location. But I lack the ability to allocate my own time.
Meeting with LC. PJ & a local few store chain tommorow(primetime,he’s occational PMQ poster). whoever pays more will get it.
Guys, I always wonder & gonna ask same question to Neil(Primetime) tommorow. How you guys could handle all those stores? While just one is stressing me out :twisted: . even though its a very good store.