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system
Guest
Hi All,
Some many years ago I was the owner/operator of a pizza franchise, (2 locations). Basically I purchased someone else’s sinking ship. Prior to the purchase, I had been in the industry for about 10 years, management for about 2 of those 10. The 1st shop was rapidly going under, as it was about 3/4 of the way there when I got the keys. I opened a 2nd location to try and float the 1st disaster. Although I was far from being ready to own a business, there were people that knew that this ship was sunk and wanted to jump before they went down with it. The whole deal was very attractive to a young sailor. I was 26, it was an owner financed turnkey operation. The franchise fees, building rent and owner loan payment ate me up within the first 3-4 months. Every newspaper and advertising publication got word of the “naive” new owner on the corner pizza shop. So needless to say, having no experience in that area, I had a beautiful bi-weekly spread in the local newspaper and direct mail stuffers. I don’t know how that shop went on as long as it did before I opened the 2nd location. I finally closed the first as it was beginning to drain the 2nd too. There’s lots more in between, but to make a long story short, After having to take on a second job outside the shop, I know… this is getting painful now, I had to put an end to this torture and close the 2nd shop too.
To this day debt from those shops follows me, but the pizza business is still in my blood. Not so much the business end of it, but the day to day preparations outside the office door. The feeling of the cool flour in my hands, the satisfaction of creating the “perfect pizza”, (I think that’s the artist in me, I’m a photographer and digital designer now), and the friendly faces of customers to name a few.
So that brings me to the subject at hand. A local independent shop has just gone up for sale and I, (believe it or not), feel drawn to make the call for information regarding buying the business. There is one thing though, this is the 3rd time this shop would change hands. It’s not in a very good location, but not that bad either…on a main drag, on a corner, and it does have a rear parking lot. The shop does get a lot of visual exposure, but it’s situated between 2 stoplights on the main drag.
So am I nuts for even giving this a second of thought. My mind hasn’t stopped thinking about what I would do to make this a sucessful business to benefit all involved. Any thoughts or advice will be greatly appreciated.
Sincerely, Ro
Some many years ago I was the owner/operator of a pizza franchise, (2 locations). Basically I purchased someone else’s sinking ship. Prior to the purchase, I had been in the industry for about 10 years, management for about 2 of those 10. The 1st shop was rapidly going under, as it was about 3/4 of the way there when I got the keys. I opened a 2nd location to try and float the 1st disaster. Although I was far from being ready to own a business, there were people that knew that this ship was sunk and wanted to jump before they went down with it. The whole deal was very attractive to a young sailor. I was 26, it was an owner financed turnkey operation. The franchise fees, building rent and owner loan payment ate me up within the first 3-4 months. Every newspaper and advertising publication got word of the “naive” new owner on the corner pizza shop. So needless to say, having no experience in that area, I had a beautiful bi-weekly spread in the local newspaper and direct mail stuffers. I don’t know how that shop went on as long as it did before I opened the 2nd location. I finally closed the first as it was beginning to drain the 2nd too. There’s lots more in between, but to make a long story short, After having to take on a second job outside the shop, I know… this is getting painful now, I had to put an end to this torture and close the 2nd shop too.
To this day debt from those shops follows me, but the pizza business is still in my blood. Not so much the business end of it, but the day to day preparations outside the office door. The feeling of the cool flour in my hands, the satisfaction of creating the “perfect pizza”, (I think that’s the artist in me, I’m a photographer and digital designer now), and the friendly faces of customers to name a few.
So that brings me to the subject at hand. A local independent shop has just gone up for sale and I, (believe it or not), feel drawn to make the call for information regarding buying the business. There is one thing though, this is the 3rd time this shop would change hands. It’s not in a very good location, but not that bad either…on a main drag, on a corner, and it does have a rear parking lot. The shop does get a lot of visual exposure, but it’s situated between 2 stoplights on the main drag.
So am I nuts for even giving this a second of thought. My mind hasn’t stopped thinking about what I would do to make this a sucessful business to benefit all involved. Any thoughts or advice will be greatly appreciated.
Sincerely, Ro
