Hi everybody, I just wanted to thank all of you for the wonderful help and input you’ve provided to me over the past few months. I must say (as twisted as it sounds) that I was truly loking foward to becoming a pizza shop owner. I knew it wasn’t going to be easy, but with all of the great people on the Think Tank as support I know it would have been a breeze.
Today however I killed the deal. After 4 months of negotiations, or should I say 4 months of teeth pulling getting financials, cash flows and P & L’s from an owner whos business is completely upside down, I was apparently out bid by a buyer who is willing to take over this shop for an unreasonable amount of money and with out any due diligence from his/her lawyer.
Please keep fighting the good fight and support one another. Make good business decisions and lots of money. After all, you are not competitors, your all in the same business. The Think Tank is a great example of that.
Good Luck and God Bless each and everyone of you.
Dan (Formerly known as the Pizzaviking)
Dude, don’t give up! You can simply buy it from the new owner, who apparently is clueless. Look for a fire sale soon.
Wow, I am sure that must be real frustrating. Sometimes blessings come in disguise, so keep that in mind. Keep your eye on the place, in 6 months the new guy will be begging you to take over! :lol:
There are other pizza places out there too, so always keep your eyes open.
It has been a pleasure having ya around…
Best of luck to you!
When I was trying to get started in this business I had much the same thing happen to me. I took a step back and really looked at the situation and change my approach. Had I gone the first route I would most likely be out of business right now. The guy that bought the place just ask me to take it off his hands at a 100k loss to him.
Hang on to your dream you never know when the right time will be.
WELLL GUESS WHOS BACK…
Hey everybody, you all were right.
I was called by the seller and his other deals fell through. Go figure. Well its fire sale time here and I’m really excited.
I really missed all of you and hopefully by the weeks end I’ll have a deal put together on the new shop.
Glad to be back on the TT
That is fantastic!! I am glad to hear it, and I hope you get a smoking deal. I wish you the best of luck, and I am looking forward to your posts here on the TT.
Its not easy work but can be very rewarding . Some days you will feel like the luckiest guy in the world, other days you will think you were NUTS for ever getting into this biz. I have been doing this for 30 years and still have fun with it. Best of luck to you.
Welcome back. Like I said before sometimes you need to take a step back and look at what is really happening. Glad you get a second chance at your dream so soon. I hope the guy knows you hold all the aces now.
just remember who rang who!!
You’re in a strong position so make sure you control what happens next and also that the price you’re talking about now is MUCH less than before.
If a business is podunk GA, that has been closed or nearly closed for several months, grossing less than $200K annual (way less), with dilapidated real estate about 1300 sq ft stand alone bldg with 1/4 acre, a couple miles off the main street near absolutely nothing, with a reputation so poor, people will drive 12 miles past his place to mine . . . . sells for $60K, then you should be getting this guy over the coals quickly. Someone got took for a ride . . . and not in a good way.
There’s always someone with some money and an idea they know how to run a pizza place. Look at me, for example I overpaid for mine, and am still in the mud up to my waist. Sure, I love every minute of it.
Fire sales are great so long as you make the deal before the fire gets put out…Once you get the place, be sure to read past posts here on ThinkTank…There is lots of good “real world” advice free for the taking…And a little that must be read with a “grain of salt”…Good luck.
Well heres the deal. He signed a letter of intent at 1/5 of his original asking amount and 1/2 of my last offer. Looks like we have deal. I cannot belive what a steal this was. Our lawyers are hammering out the details. Thanks again everyone, Im so glad to be back. Keep on posting those great threads.
Sounds like you did very well. Good Luck Viking.
Wow, that sounds like a very sweet deal! I wish you the best of luck!