My father has willed to me a commercial building that has a convenience store and gas. The building has enough space to accommodate a pizzeria. Yes, like many, It’s always my dream to open one. Here’s some facts:
1/ The town only has a population of about 3,700 people (maybe 5,000 + in the outlying area) with one pizza shop that is just ok.
2/ The gas/convenience store nets about $50K per year.
3/ I am a Banker (Commercial Lender for 15+ years) and understand the importance of cash flow, marketing, profit margins, etc.
4/ I have cash for start-up working capital, equipment.
5/ No debts or lease payments.
6/ One employee other than my family members and myself.
7/ My family is Italian with a lot really good dishes…and my kids and I make pizza (which many rave about) every Friday night.
8/ My father was self-employed for 45 years, and I’ve been involved in his businesses since the age of 13 (and I know the unbelievable commitment that he gave that most don’t understand until they actually run a business + the headaches).
9/ Menu will consist of Pizza, subs, wings, etc. (possibly more later). Not really a restaurant but a shop. Open for lunch and dinner.
Ok…So the bottom-line. Should I follow my dream and do this? That’s what my heart says…but my brain says …nooooo waaaay…probably all this to net $10K a year ! But I really can’t stand the corporate world anymore. Sure I could do a BS Performa (that’s what the banks want!), but I would like to get real insight on this from you guys. If I could net $25K a year from pizza, I may consider it further.
Small towners especially…please reply with your thoughts…and thank you…
1/ The town only has a population of about 3,700 people (maybe 5,000 + in the outlying area) with one pizza shop that is just ok.
2/ The gas/convenience store nets about $50K per year.
3/ I am a Banker (Commercial Lender for 15+ years) and understand the importance of cash flow, marketing, profit margins, etc.
4/ I have cash for start-up working capital, equipment.
5/ No debts or lease payments.
6/ One employee other than my family members and myself.
7/ My family is Italian with a lot really good dishes…and my kids and I make pizza (which many rave about) every Friday night.
8/ My father was self-employed for 45 years, and I’ve been involved in his businesses since the age of 13 (and I know the unbelievable commitment that he gave that most don’t understand until they actually run a business + the headaches).
9/ Menu will consist of Pizza, subs, wings, etc. (possibly more later). Not really a restaurant but a shop. Open for lunch and dinner.
Ok…So the bottom-line. Should I follow my dream and do this? That’s what my heart says…but my brain says …nooooo waaaay…probably all this to net $10K a year ! But I really can’t stand the corporate world anymore. Sure I could do a BS Performa (that’s what the banks want!), but I would like to get real insight on this from you guys. If I could net $25K a year from pizza, I may consider it further.
Small towners especially…please reply with your thoughts…and thank you…
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