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choosing between 2 pizzerias

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PizzaManMike

New member
I have the option of 2 places…

1 place is asking 50k all the equipment is like new it has granite counter tops dark cherry wood work with archways and roman pillars… 500sqft kitchen and seating for about 24. the problem with this place is is it shut down because the owner tried to turn it into more of a restaurant so he up and left to go to a bigger place cause seating for 20 wasnt cutting it. he is now selling the place for 50k. the place is absolutely goregous… place also has a POS system

the second place is not as nice needs a grill in the near future and a make line… he is doing about 7500 a week this place doesnt have a POS the kitchen is small and the place needs work to make it more efficient. the ower will take 105k

they are both in equivalent areas. would you guys go for the dream pizzeria that is shut but absolutely goregous and pretty much brand new or would you go for the one who is open doin 7500 a week? both of the rents will be 2200 with a 5% increase…
 
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Mike,

From reading your previous posts, isn’t this the guy that fudges on his taxes and “claims” he’s doing $7,500? Bud, I don’t care if that store’s doing $10k, I wouldn’t touch it with a ten foot pole. He can’t prove his income and he wants more for it than what it’s worth.

If you found another place… that’s cheaper, why would you even ask advice? Common sense says, “Jump all over that one”. As long as the location’s good, there’s no reason you shouldn’t go after it. Keep us posted. -J_r0kk
 
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you do prove a very valid point, from seeing his weekly invoices he does 8 cases of cheese… one vendors bill is about 800 which he pays check and claims and the other is 1300 which he pays cash so it doesnt show… so his food cost avgs about 2 grand a week. … … this other place is in the middle of contract… but there are some problems… im hoping the contract falls through so i can get in… the place is amazing… i guess it is better to be able to start from scratch with a new name out of a place that has been shut a few monthes
 
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um maybe its me but 8 cases of cheese (ill assume loaf at 45lbs each) is 360 lbs which he pays $2100 total…at $5.83/lb what are they feeding them cows?

smells fishy and by the way even if they pay cash there is always some sort of trail from the vendor (invoice marked CASH, etc)

if locations are similar take the new place for half the money…you can build the business, no?
 
watching your previous posts, i thought that 1st place was too expensive in the first place. the second sounds better, but have you thought of starting your own in a completely new place… maybe lower rent and buy your own equip and build out and save even more money… check out j-rokk posts about opening location, and since you prefer deck ovens you can find them even cheeper. i am in upstate NY myself and starting out is proly cheaper…buy your equip up here or albany and have it shipped down. good look and let me know when you get it goin, ill come and check it out.
 
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I am definately considering starting out in a brand new place… the only thing is yes deck ovens are cheap but this will actually turn out to be the only thing i buy brand new… I want the mb42 stacked marsal ovens… they cook amazing and are impossible to find used… ut everything seems to be plentiful used… the 2 ovens are gunna run me a little over 25k installed… these ovens are amazin they dont die out like the bakers pride they hold their heat strong and you dont hav to rotate like a bakers pride,. not many people are using them i guess cause of the price but i feel you only get one shot to make a first impression so i should invest in these ovens… the crust it cooks is phenominal… I tried postin to see whoelse has used them i got no responses… I am defintely looking into a new place… there is actually a brand new shopping center opening right by my house in a great spot… i know a lot of land lords will give the first year of rent free if im about to pour 60k into building a place… thank you everyone for your insightful input… any other comments are welcome and will be greatly appreciated
 
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So what happened with the place you first were looking to buy into? The one for 105k? Decided to not take it? If you like your more then welcomed to stop by my shop and talk if you need any help or anything. I bought my shop and there were a few mistakes I made that cost me big, espically in marketing the place. Again, more then welcome to stop by, spend a day, and ill even take you shopping with me if you want to get an idea as to what thats like, if you plan on buying everything yourself like I do.
 
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