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Old 06-26-2006, 11:23 PM   #1
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Opening a BBQ Restaurant

well, I can't sleep, so here I am. I would appreciate your opinion.
I am dangerously close to taking a deal that would allow me to sell
bbq out of a convenience store here in Myrtle Beach. There's been
a lot of hair pulling and cigarette smoking over the past 3 days.
I think I can get in for 27 thousand, and that's pretty much what
the bank told me I can get. Veeeery close.

The rent is only 1200 a month. If I make 100 bucks a day, that's
3000 a month. Then there's employees (part time), insurance,
etc.

I've been meeting with friends and advisors for the past few days.
I value their opinions greatly. I also value you opinion, and I'd like
to hear from you.

This could ruin my life, or improve it. I'd be working my ass off
for a little money, risking losing my house. I've heard the horror
stories of people losing everything by doing something like this
and now they are greeters at Walmart.

I've got some things in my favor, and some things against me.
I'm so close in the decision that I'm actually asking you idiots.


Thoughts?
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Old 06-26-2006, 11:53 PM   #2
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The operating costs/projected profits are close. Could make 150 a day.
Being in radio, I've got free advertising. I wouldn't quit my morning show job until I felt I needed to. It pays the bills. At a profit of 4 bucks a ticket, I only need 25 orders to make it even. It could work. It might not.
Thanks for your good wishes.
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Old 06-26-2006, 11:56 PM   #3
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Re: Opening a BBQ Restaurant

Quote:
Originally Posted by Captain Morgan
I'd be working my ass off
for a little money, risking losing my house. I've heard the horror
stories of people losing everything by doing something like this
and now they are greeters at Walmart.

Thoughts?
Cappy...is this going to be a hobby or an income you'll be depending on ?

If your going to be working your ass off for a little money, why not try to start off working for someone else for a while. That would give you a chance to see other peoples mistakes first hand, get to know some distributers, ect. Working a lot of hours for good money is one thing, but Id be hesitant to get into something thats not going to reward me for what my time and effort are worth...Plus, with the $27,000 loan, if you dont like it, Id assume you'd be committed for some time.

But, If you forsee a nice profitable buis. after a few years of "paying your dues" , that would make all the hard work worth it ! My brother owns his own buisness and he puts in 15 hour day, some times, for weeks on end. I see the toll it has taken on him, and all that he's missed and sacrafised for his buis. I personally dont have the dedication....
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Old 06-26-2006, 11:58 PM   #4
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I'd be working looong hours for pretty much nothing for at least a year.
That said, my afternoons are open.
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Old 06-27-2006, 12:13 AM   #5
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Would this be you first time owning your own business? Having owned my own business I can only say it is not for everybody but their is only one way to find out. My business was very profitable but i still gave it up about a year ago. All the stress, headaches, and time away from the loved ones made all of the money so usueless. For the last year I have been working for somebody else and really enjoying watching my boss pull his hair out. If you love it then its worth it even if the money is not there.
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Old 06-27-2006, 01:07 AM   #6
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I don't quite get the set up Cap. Your selling Q out of a now functioning convenience store that is going to remain that? Or you're taking over the store? If so, why is the convenience store closing? What kind of cooker will you be using? Cooking on site? Remodeling costs? You certianly have to upgrade from the WSM just for capacity.

The rent is $1,200/month...what are the utilities, insurance and other costs associated with opening the doors per month, advertising costs?

Location, location, location....is there a market in that location for a Q "joint" or is it flooded with other eating opportunities?
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Old 06-27-2006, 01:26 AM   #7
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Get hot chicks showing some skin while serving up your grub and you will be just fine! lol
Long hours, little profit if any for quite awhile. Rent, taxes, paper work piled high, health department inspections, permits, accountant fees, unemployment insurance, workers comp, liability insurance, ect, are the ONLY things that keep me from going global. :biggrin:

I have a construction company for which I pay all the above insurances, and do all the paper work for. It can be a beeeotch. After you figure out all the ins and outs, legal or not, you get used to it. Most of the crap I fill out and send to the State and Feds is their formality bullcrap with a check inclosed to them. Monthly. Never fails. Never has stopped. You just learn to deal with it.
If this is a passion, go for it. You only live once. If you dont, somebody else will.
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Old 06-27-2006, 04:39 AM   #8
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Quote:
Originally Posted by Bryan S
Everybody that eats my cooking says i'm in the wrong business.
They think you're in the cooking business. :lmao: :lmao: :lmao:
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Old 06-27-2006, 05:57 AM   #9
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Cappy, can you afford to lose the money? Will you be able to survive and pick up where you left off if the business failed? It's a big desision. I'm like crazy white man, and just the opposite of you. I've been self employed for the past 30 years and at the end of this year I'm contimplating calling it quits and working for somebody else, but I have a couple other reasons for it. You have my number if you want to give me a call. Good luck with your desision.
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Old 06-27-2006, 06:16 AM   #10
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Bruce, the store will remain open. There's an exisiting kitchen
with seating for about 25 inside the store. The deal includes all
utilities except for gas. I'll have to buy a Cookshack smoker for
about 5 or 6 grand.

If I lost all the money, I'd probably be in debt for the rest of my
life. It sounds like a good deal, but it's still very risky.
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