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Advice for somone looking to start up?

Funny to see this thread back on the main page again.

Financially, I am a little better off than I was back in April. I’ve been saving money. But I haven’t been able to put away $1,000 a month like I had planned. This is due to a combination of not getting as many hours as I had been getting back in April, and not being as frugal as I could be. But still, my student loan debt is down from $9,000 to $5,000. My credit card debt of $1500 is completely paid off. So that is at least small accomplishment. I have also taken more action in trying to raise my credit. I recently opened a new credit card and am paying both of my credit cards off every month. I think I would like to get at least two more cards. This would credit to debt ratio and raise my credit score in the long term. Also, just the other day I found out that my credit score is 680. Pretty average, but I think I can get that up to the high 700s in the next few years.

Work wise, I will be transferring to a new city in about two months. The owner is opening a second shop and I will be managing that one completely. Very excited about this opportunity to see how a new pizza place is put together and the chance to run it and get it off the ground myself. Also, a nice pay increase will be included, and work increase of course.

Anyways, my goal is still to some day own and work my own pizza place. I don’t think it is something I will rush into. At least I hope I don’t rush into it when the time comes, which wouldn’t be for at least two more years still. If it takes four or five more years too find the right place for the right amount of money than that is fine.
 
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Hi Guys:

I noted this comment in a recent post. “Sounds impossible but 3 out of 5 pizza places go under in the first five years.”

That has not been our experience. Very few of the hundreds of pizza shops we have equipped have failed.

May I also comment that we have found a substantial correlation between the amount invested in a shop to the return provided.

George Mills
 
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You got to buy your equipment used.
For example I am currently looking at a 80 quart hobart mixer for $4500 - Retail is $18 thousand.
Dough press - $400 = Retail is $2000

Used is the only way to go. I’m hoping to open a shop in the $50k range and have 20-30 thousand in cash to get through the first couple years.
 
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I’m in the minority here.

We’ve been in business full time for a year and a half. BBQ joint / Pizza joint. Take out and delivery only. Before that we did catering and events: fairs, car shows, rodeos, etc.

One unique aspect of our business is that we are the only game in town for pizza, unless you count the bar pizzas they serve down the street. Certainly the only place to get ribs and chicken, pulled pork sandwiches etc. We do custom, hand-tossed pizzas, and there’s no better pie anywhere.

We started on a shoestring, with one Lincoln impinger oven. I used to make a “cold table” out of a deep hotel pan with ice in it, and sixth- and ninth- pans for the toppings. I had my mobile trailer unit (with reefers, flat-top and fryer) that I manned solo for the first year, all winter long. Ever try to make burgers, and pizzas when it’s zero degrees in the kitchen? Street cred, baby…right here in Montana.

After a year we moved into an actual building and I won’t teeze you (now theres a dumb cuss-filter) with how cheap my rent is but it’s very very low. Our business is growing because I care to make the food the best anybody ever ate, and you get great service when you come. I personally care about it and make sure it really is great. I had been dreaming of this for …oh, I don’t know…ten or fifteen years? so it didn’t happen overnight, but it did happen.

These days I do have two employees, so taking an extra day off here and there is no big deal. I work every day so payroll does not kill me; anyhow a guy needs something to do all day long.

Too late for a long story short, but what I’m saying is that you can make something happen. You don’t have to have a lot of money to do it, but you’d better know just what you’re doing, be careful, and be ready to work very very hard.

To me, that is pretty much the American Dream.
 
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