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Oh. That’s good. I miss read your post. I though you were say 18k a month [emoji22]

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The business grosses 850k and nets close to 180k for owner. Owner puts to 40 hrs of work per week.

Why do you think it doesn’t make money? Thanks.
With numbers like that, why the need to raise sales…damn! 21% profit…pretty outstanding.
Even if you pay a manager 50k…that’s 15% profit.
 
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When we had a store that did 18 a week our weekly profit was probably about 3k a week. That’s with paying a manager a good 1300 a week.

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With numbers like that, why the need to raise sales…damn! 21% profit…pretty outstanding.
Even if you pay a manager 50k…that’s 15% profit.
2 big reasons:

  • []One thing is min wages are increasing by $1.
    [
    ]My fear that if I don’t get new customers, my revenues may start decreasing cause of normal customer churn. So I would like to be a step ahead and try to grow.
  • Also this being a franchise they expect renos every 10 years which costs 150k. Need to keep money aside for that too.
 
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When we had a store that did 18 a week our weekly profit was probably about 3k a week. That’s with paying a manager a good 1300 a week.

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Well I have some loan to pay off too, so anything I can do to expedite that.

When you paid your manager 1300/wk, how many hours were you working at the store when you had your 1300/week manager. Also did he just manage the operations or was he involved in growing revenues too?
 
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Go through all the post that bodegahwy writes about buying and selling a business. He knows everything there is know and he’s a super smart guy. Lots of info there.

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The business grosses 850k and nets close to 180k for owner. Owner puts to 40 hrs of work per week.

Why do you think it doesn’t make money? Thanks.
May I ask how old you are? You are very cautious. When I got into this business I was 22. I didn’t know crap, didn’t give a crap and had no fear of failure. I worked 16 hours a day and got my ass kicked 8 days a week. I’m not saying this won’t work for you but this can be very demanding.
 
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I am 35. I am cautious cause I want make sure I make good decisions and then can grow or open other businesses. I dont want to buy some one else’ problems or end up buying myself “job” at the end of it all.

So the more I know about the industry, the better educated my decisions will be.

Its like someone who said, “if I have to cut a tree down, I will spend 80% of time sharpening the knife”.
 
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Are you able to disclose the franchise- that may open up some other data, suggestions, thoughts.
 
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May I ask how old you are? You are very cautious. When I got into this business I was 22. I didn’t know crap, didn’t give a crap and had no fear of failure. I worked 16 hours a day and got my ass kicked 8 days a week. I’m not saying this won’t work for you but this can be very demanding.
Yeah… bought my fist store when I was 22… 18 hour days were nothing. Then we’d play ultimate frisbee in the lot for an hour!
 
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May I ask how old you are? You are very cautious. When I got into this business I was 22. I didn’t know crap, didn’t give a crap and had no fear of failure. I worked 16 hours a day and got my ass kicked 8 days a week. I’m not saying this won’t work for you but this can be very demanding.
Yeah… bought my fist store when I was 22… 18 hour days were nothing. Then we’d play ultimate frisbee in the lot for an hour!
Wow you guys were young that’s impressive! I didn’t have money, credit, know how, or maturity at 22.
I am 35. I am cautious cause I want make sure I make good decisions and then can grow or open other businesses. I dont want to buy some one else’ problems or end up buying myself “job” at the end of it all.

So the more I know about the industry, the better educated my decisions will be.

Its like someone who said, “if I have to cut a tree down, I will spend 80% of time sharpening the knife”.
The moral of the story is expect to spend A LOT of time at the store. Probably all of it.
 
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I am 35. I am cautious cause I want make sure I make good decisions and then can grow or open other businesses. I dont want to buy some one else’ problems or end up buying myself “job” at the end of it all.

So the more I know about the industry, the better educated my decisions will be.

Its like someone who said, “if I have to cut a tree down, I will spend 80% of time sharpening the knife”.
Gotcha. Just letting you know that 90% of this business is just getting in there ,getting dirty and eating crap. If you can do that you’ll be fine.

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Wow you guys were young that’s impressive! I didn’t have money, credit, know how, or maturity at 22.
While I can’t speak for the others who got into this young, I bought mine at 25 and certainly didn’t have the money, credit know how or maturity but somehow it worked out. If I had all of that, I probably would have been smarter than get involved with what was a marginally profitable business at the time. As far as pizzaboi opening more businesses, You might find that running one is all you want/need to do. I find that my business keeps me way too busy to open new businesses. I’m sure the right person could come in and do better with less time but for me to continue the growth curve I am on, I am spending more time than I want to on the business. Two and a half years ago I sold a second shop that was busier than this was at the time. It was doing a million and a half in sales and making good money. After putting all of my time into focusing on one store, I’m now making more profit out of one than I used to out of two. I’m very certain that I can grow this one shop so much more, I just have to get a larger space to do so.
 
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The problem I had when I was 22 was that I was naive. I figured I would walk in and everyone would just do what I needed them to. I would be rolling in dough in no time. Then store did $3500 a week when I bought it for some reason that looked good. Here’s how it really went.
  1. Half the crew quit first week
  2. Other half didn’t quit because it was too prosperous to steal stuff from the store.
  3. They stole the hobart dough hook so we couldn’t do dough
  4. They broke into the store by sliding down the hood exhaust.
  5. The store was apparently the local drug dealers main office. I had to chase him away
  6. Every piece of equipment was broken and or outdated and needed replaced
  7. The previous owner owed everyone and his brother some money. They all stopped by.
  8. The reason they only did $3500 a week was because they either turned the customers away, or didn’t log down order and stole the money. The store was actually doing 7K a week. So that was a good thing.
Got rid of the second half of the crew within a couple of months and hit 10k a week a couple months after that. We did that just by “answering the phone”. Not because I new what I was doing. It was total chaos for 2 years. Always short handed and hectic. I never took a day off and I was there open to close every day for the first year. The second year I got a guy to run the store Mondays and Tuesdays. I’m glad I did that life adventure as a 22 year old and not a 51 year old.
 
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Gotcha. Just letting you know that 90% of this business is just getting in there ,getting dirty and eating crap. If you can do that you’ll be fine.

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I an fine with that.

I have issues rolling up my sleeved and getting stuff done. But when I am reviewing various businesses, I want to make sure that I pick the best option.
 
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While I can’t speak for the others who got into this young, I bought mine at 25 and certainly didn’t have the money, credit know how or maturity but somehow it worked out. If I had all of that, I probably would have been smarter than get involved with what was a marginally profitable business at the time. As far as pizzaboi opening more businesses, You might find that running one is all you want/need to do. I find that my business keeps me way too busy to open new businesses. I’m sure the right person could come in and do better with less time but for me to continue the growth curve I am on, I am spending more time than I want to on the business. Two and a half years ago I sold a second shop that was busier than this was at the time. It was doing a million and a half in sales and making good money. After putting all of my time into focusing on one store, I’m now making more profit out of one than I used to out of two. I’m very certain that I can grow this one shop so much more, I just have to get a larger space to do so.
Curious, how much did you sell the shop which did 1.5 million in sales?
What was the net profit at that store including the owners salary?
 
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