The unofficial FAQ for potential pizzeria owners

[NicksPizza]

Piper:

Patriot'sPizza:

Fool Tax…

I will gladly share my biggest Fool Tax, just in case anybody thought I can’t laugh at my own “stoopid” mistakes. I can share them all with you if you’d like, but it might require it’s own forum. . . .

I intitiated the term here on the boards in jabbing Dave about overpaying (like a lot of us) for his business. Generally the term is reserved for those situations where you have paid or have to pay a premium for doing something foolish, or blantantly missing doing rasonable due diligence or having a general bubble of rationality.

The sales tax gaffe is definitely a laugher, but unless it ended up you paying way above what a normal, rational, alert adult would have paid . . . not a clear cut “fool tax” as much as paying huge money for a pizzas hop taking the word of the seller for his sales and financials . . . then finding out 3 months after opening that you’re in the weeds becasue sales are 25% lower, equipment is breaking down, and the staff is all dope addicts now in jail.

The difference between a market rate for the actual, real value of the business and what you ended up paying for it.

 

[brandy7279]

My biggest question is when do I get paid. I still consider myself new even though Ive been in the pizza business for almost 20 years…When I ask a stupid question or make a stupid mistake Im glad to hear it early, and frankly you guys have all the best advice and help I could hope for. I didnt take any offense and Ive probably asked one of those questions. Wish I wouldve known about this site before I bought my store would have saved me alot of fools tax. Youre all flippin awesome.

 

[wa_dave]

brandy7279:

My biggest question is when do I get paid. I still consider myself new even though Ive been in the pizza business for almost 20 years…

Kay. After 20 years and still waiting to get paid ???

Is your shop the Good Samaritans Pizza Outlet where everyone works for the good of the community :lol:

Dave