Tomorrow morning I am purchasing a second franchise store of our chain. It is about 8 miles away and sits a mile on the other side of campus. It revolves around the college students and is open 24/7. there have been some weekends where this stores Friday and Saturdays sales come close to the record week of my current store. I currently have mixed emotions where at times I feel like a kid waiting for Christmas morning and other times I wonder what the he!! I’m getting myself into. For the last couple weeks I’ve been getting everything ready and I’m feeling ready to go. I’m sure I’ve overlooked quite a few details but I’ll deal with those as they come up. Wish me luck as I’m sure I’ll need it.
Good luck with the new venture!
24/7, oh man! I know we never switch off, but when you have a store open non-stop thats problems occuring at anytime(although its also money coming anytime :).
All the best!
2X the problems.
No, it’s exponential! :lol:
Sounds like fun Paul, especialyl the 24x7 part. That is pretty interesting.
It sounds like a winner, why was a store like that for sale?
Paul runs an awesome store/operation and has an amazing story, and amazing gross sales…a 2nd stor for him will be a piece of cake…lol
Paul - my leap from 1 to 2 was OK. If you will be in the NEW shop more and were really active in your current one, expect a little southward sales in your existing store (even if your wife is still there). But do plan to take the time to make it YOURS. My biggest mistake was not spending enough time in the NEW Campus store to set it up the way I always run things. I took for granted that my GM who had been with me for years KNEW it all.
I also made a more fatal error by going to shop 3 just 3 months after expanding to 2.
I am a few weeks away from jumping into store #4 all in my county and plan to invest a full 2 months (if not more) of me being in there every day before I go back to being my own area supervisor. I just sold my sub shop this morning and will not have a singular focus on my pizza business.
I know owning multiple shops is difficult, but if you plan properly and invest the time in each new venture to make them match YOU then it is a very rewarding and successful thing.
In a previous industry we had several stores, and sure you get more problems but you also get so much more resources. We found it much easier once we had our third shop. Bulk marketing, bulk buying, getting staff to cover and more solutions and stock availability.
It’s not all bad, tough at the start but it certainly rewarding.