I want to open a deli (1 Viewer)

[Scoresman]

If you've never done this before, there is a good chance you will fail.

But- you never know. In the 20+ years that I've worked in commercial real estate, I've helped open up dozens of new restaurants, sandwich shops, pizza joints, etc. Some have customers from day one, despite their locations being not so good. Others are in the best possible location, but they can't get anybody to show up for some reason.

Anyhow, here is the advice I give every new restaurant person I work with: calculate all your costs for two years. That includes build out, total rent and CAM charges, utilities, insurance, maintenance of equipment, wages, food and paper costs. Since you're working there, assign yourself a salary, enough for you to live on, and calculate that in too. The total is the amount that you need to get started. You will NOT make any money the first year, and it is extremely unlikely that you will make any money the second year. If you break even, then you will be a success. If after two years you are not at least breaking even, then it's time to quit. But HEED THIS ADVICE- put two years of your expenses in the bank. If you don't have enough on hand for two years of expenses, then don't start this business. If you do start it without those savings in the bank, you'll not only fail but you'll be forced to go into debt and your failure will hurt you for years to come.

i worked in one for 10 years through high school and college. i think i got this down.

 

[Scoresman]

Scoresman- what neighborhood are thinking about for the deli?

haven't really thought about this yet.

 

[Scoresman]

No idea why I'd go there when there's a perfectly good Subway next door.

These words do not go together.

You some kinda taqueria snob?

You might be the only person on this board to describe Subway as "perfectly good"

They gotta be doing something right if I have to stand in line to get a sandwich there, but could walk straight up to the counter of this so called "deli" without any wait at all.

i explained this in another thread. the only thing they do right is take advantage of the fact that the majority of people out there are stupid and lazy.

its a non-subjective fact that a real deli sandwich is better than a subway sandwich.

 

[El Floppo]

Scoresman- what neighborhood are thinking about for the deli?

haven't really thought about this yet.

location, location, location.

you figuring on making your nut during lunch, or over the whole day?

 

[timschochet]

If you've never done this before, there is a good chance you will fail.

But- you never know. In the 20+ years that I've worked in commercial real estate, I've helped open up dozens of new restaurants, sandwich shops, pizza joints, etc. Some have customers from day one, despite their locations being not so good. Others are in the best possible location, but they can't get anybody to show up for some reason.

Anyhow, here is the advice I give every new restaurant person I work with: calculate all your costs for two years. That includes build out, total rent and CAM charges, utilities, insurance, maintenance of equipment, wages, food and paper costs. Since you're working there, assign yourself a salary, enough for you to live on, and calculate that in too. The total is the amount that you need to get started. You will NOT make any money the first year, and it is extremely unlikely that you will make any money the second year. If you break even, then you will be a success. If after two years you are not at least breaking even, then it's time to quit. But HEED THIS ADVICE- put two years of your expenses in the bank. If you don't have enough on hand for two years of expenses, then don't start this business. If you do start it without those savings in the bank, you'll not only fail but you'll be forced to go into debt and your failure will hurt you for years to come.

i worked in one for 10 years through high school and college. i think i got this down.

were you responsible for paying the bills? It's a whole different story. Please take my advice with regard to the two years . Over. 85% of all new restaurants in California fail in the first 2 years. The main reason is they run out of money. Estimating your costs is the most important aspect of running this sort of business, not how well you make your sandwiches.

 

[avoiding injuries]

If you've never done this before, there is a good chance you will fail.

But- you never know. In the 20+ years that I've worked in commercial real estate, I've helped open up dozens of new restaurants, sandwich shops, pizza joints, etc. Some have customers from day one, despite their locations being not so good. Others are in the best possible location, but they can't get anybody to show up for some reason.

Anyhow, here is the advice I give every new restaurant person I work with: calculate all your costs for two years. That includes build out, total rent and CAM charges, utilities, insurance, maintenance of equipment, wages, food and paper costs. Since you're working there, assign yourself a salary, enough for you to live on, and calculate that in too. The total is the amount that you need to get started. You will NOT make any money the first year, and it is extremely unlikely that you will make any money the second year. If you break even, then you will be a success. If after two years you are not at least breaking even, then it's time to quit. But HEED THIS ADVICE- put two years of your expenses in the bank. If you don't have enough on hand for two years of expenses, then don't start this business. If you do start it without those savings in the bank, you'll not only fail but you'll be forced to go into debt and your failure will hurt you for years to come.

i worked in one for 10 years through high school and college. i think i got this down.

Are you a dr?

 

[NCCommish]

No idea why I'd go there when there's a perfectly good Subway next door.

These words do not go together.

You some kinda taqueria snob?

You might be the only person on this board to describe Subway as "perfectly good"

They gotta be doing something right if I have to stand in line to get a sandwich there, but could walk straight up to the counter of this so called "deli" without any wait at all.

People stand in line for lots of stuff that sucks. Including Subway and their highly processed crap.

 

[Scoresman]

If you've never done this before, there is a good chance you will fail.

But- you never know. In the 20+ years that I've worked in commercial real estate, I've helped open up dozens of new restaurants, sandwich shops, pizza joints, etc. Some have customers from day one, despite their locations being not so good. Others are in the best possible location, but they can't get anybody to show up for some reason.

Anyhow, here is the advice I give every new restaurant person I work with: calculate all your costs for two years. That includes build out, total rent and CAM charges, utilities, insurance, maintenance of equipment, wages, food and paper costs. Since you're working there, assign yourself a salary, enough for you to live on, and calculate that in too. The total is the amount that you need to get started. You will NOT make any money the first year, and it is extremely unlikely that you will make any money the second year. If you break even, then you will be a success. If after two years you are not at least breaking even, then it's time to quit. But HEED THIS ADVICE- put two years of your expenses in the bank. If you don't have enough on hand for two years of expenses, then don't start this business. If you do start it without those savings in the bank, you'll not only fail but you'll be forced to go into debt and your failure will hurt you for years to come.

i worked in one for 10 years through high school and college. i think i got this down.

Are you a dr?

no, why?