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McClure's BBQ (1 Viewer)

tipsy mcstagger said:
I've been contacted by one of my cooks' neighbors about taking over a former restaurant space that has been around for years....family bailed...new owner of the property...yadda yadda. It's on Belle Chase Highway on the westbank...4000 sq ft space, with room outside to build a proper smoking shed (which would supply both locations....i've got problems again with smoking at my current space, but will get into that later).

This place is 4 times bigger than my current one and only 25% more in rent. The quick math says jump on it but i'm of course still reeling from the cost of getting this place open. I wouldn't even be considering another store, but this opportunity is legit and would probably crush my sales over here....lots of oil money over there and a much bigger industrial base of workers for the lunch crowd.

So....if you have want to invest in this give me a shout. I only need to raise about 60 K for furnishings, equipment, food, and deposits.

What say you FFA? I think I've proved my legitimacy as a concept :)
Click to expand...
What size investment are you looking for. Completely interested

 
Drifter...if you are interested send me a PM.

Not sure of details yet, but I think this is how I will approach it:

Let friends, fbg's , and some family be a part the pool. I will set a minimum of 1k investment to be part of the pool.

This will all have to be a gentleman's agreement. Everyone gets paid back. Everyone gets 15% interest on that money. It gets paid back within 3 years. (essentially breaking off 2400 a month to pay the pool back....i can easily do that from the current place so its a pretty safe bet. Everybody gets a yearly profit check from the whole operation...even if i get bigger. This is the tricky part, and will be a pittance. But you can say you own part of a restaurant. I'll break off 10% of the yearly profits (ie a phantom 10% ownership for this pool...i'd even honor that if I was bought out for the millions i'm sure someone will eventually pay me :porked: ). That profit check won't be much until we are debt free.

This is a rough outline of what I'm looking at. I'd be able to do this cheaper with a bank....but this space is not going to be around long enough for me to lollygag on. Part of the rush is it has the space to cook for both places without any fear of neighbors being pissy.

I know this is unorthodox, but its how i roll.

Currently have between 8 - 14k in interested fbg money on the board. :tebow:

Goal is 60 - 75K so we start this place off right. If it was from total scratch this property would be costing me 300K minimum to open.

 
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tipsy mcstagger said:
does this sound reasonable or am i crazy?
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Crazy but then that's what got you to where you're at so embrace what you are good at.You around the 22nd thru the 24th? ARA Trade show in town and I'd like to coerce one of my suppliers into a lunch followed shortly thereafter by a meat coma.

 
tipsy mcstagger said:
Drifter...if you are interested send me a PM.

Not sure of details yet, but I think this is how I will approach it:

Let friends, fbg's , and some family be a part the pool. I will set a minimum of 1k investment to be part of the pool.

This will all have to be a gentleman's agreement. Everyone gets paid back. Everyone gets 15% interest on that money. It gets paid back within 3 years. (essentially breaking off 2400 a month to pay the pool back....i can easily do that from the current place so its a pretty safe bet. Everybody gets a yearly profit check from the whole operation...even if i get bigger. This is the tricky part, and will be a pittance. But you can say you own part of a restaurant. I'll break off 10% of the yearly profits (ie a phantom 10% ownership for this pool...i'd even honor that if I was bought out for the millions i'm sure someone will eventually pay me :porked: ). That profit check won't be much until we are debt free.

This is a rough outline of what I'm looking at. I'd be able to do this cheaper with a bank....but this space is not going to be around long enough for me to lollygag on. Part of the rush is it has the space to cook for both places without any fear of neighbors being pissy.

I know this is unorthodox, but its how i roll.

Currently have between 6 - 12k in interested fbg money on the board. :tebow:

Goal is 60 - 75K so we start this place off right. If it was from total scratch this property would be costing me 300K minimum to open.
Click to expand...
I'll defer to the wiser people on the board about the sensibility of the arangement, but this is why I'd be in. From what I've read and seen, this is a place I believe in.

 
palmersteel said:
Tipsy - could you post an idea of when you'd need the funding by?
Click to expand...
I think by the end of the month would be a good goal....probably more like 2 months because he still has a good bit of work to do there before i start moving in. parking lot is current project over there...guy is spending 200k+ just on that.

 
Hi everyone.

I'm looking to start my own ice cream sandwich shop.

If anyone wants to send me $$ to do this, send a PM. I'm also looking for $50K.

P.S.--Tipsy, so freaking awesome that you can pull something like this off. Just shows that good things can happen to good people and how far a good reputation can take you. Wish I could help, but it certainly doesn't seem like you'll need it at this point. Congrats!

 
Invest 1,000. Get a minimum of $31.94 from me every month for 3 years until the loan plus the 15% interest is paid. And .00133 of the profits from my company for life.....

And of course the 50% owner/employee discount on every meal you ever eat with me.

edited the % of profit part...made a calculation error on overall %owned

 
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Mike Zangrillio said he can front the whole 75k you need, send him a PM

This sounds cool and good luck with the future venture and congrats on the success you have already had.

 
tipsy mcstagger said:
Invest 1,000. Get a minimum of $31.94 from me every month for 3 years until the loan plus the 15% interest is paid. And .0133 of the profits from my company for life.....

And of course the 50% owner/employee discount on every meal you ever eat with me.
Click to expand...
As a part owner, I could probably write off all future trips to New Orleans...

 
tipsy mcstagger said:
Drifter...if you are interested send me a PM.

Not sure of details yet, but I think this is how I will approach it:

Let friends, fbg's , and some family be a part the pool. I will set a minimum of 1k investment to be part of the pool.

This will all have to be a gentleman's agreement. Everyone gets paid back. Everyone gets 15% interest on that money. It gets paid back within 3 years. (essentially breaking off 2400 a month to pay the pool back....i can easily do that from the current place so its a pretty safe bet. Everybody gets a yearly profit check from the whole operation...even if i get bigger. This is the tricky part, and will be a pittance. But you can say you own part of a restaurant. I'll break off 10% of the yearly profits (ie a phantom 10% ownership for this pool...i'd even honor that if I was bought out for the millions i'm sure someone will eventually pay me :porked: ). That profit check won't be much until we are debt free.

This is a rough outline of what I'm looking at. I'd be able to do this cheaper with a bank....but this space is not going to be around long enough for me to lollygag on. Part of the rush is it has the space to cook for both places without any fear of neighbors being pissy.

I know this is unorthodox, but its how i roll.

Currently have between 8 - 14k in interested fbg money on the board. :tebow:

Goal is 60 - 75K so we start this place off right. If it was from total scratch this property would be costing me 300K minimum to open.
Click to expand...
:blackdot:

 
tipsy mcstagger said:
Invest 1,000. Get a minimum of $31.94 from me every month for 3 years until the loan plus the 15% interest is paid. And .0133 of the profits from my company for life.....

And of course the 50% owner/employee discount on every meal you ever eat with me.
Click to expand...
does that include catering??????????

 
an unnamed FBG is wanting to step up to the full amount. I have no reason to believe he isn't legit.

have to go move a pit around....ill be gone for a bit. this is unreal guys....love this place.

 
tipsy mcstagger said:
an unnamed FBG is wanting to step up to the full amount. I have no reason to believe he isn't legit.

have to go move a pit around....ill be gone for a bit. this is unreal guys....love this place.
Click to expand...
As someone who was thinking about throwing 2K at you when I got home, you'd be insane not to deal with one person instead of 40 of us degenerates.

 
tipsy mcstagger said:
Invest 1,000. Get a minimum of $31.94 from me every month for 3 years until the loan plus the 15% interest is paid. And .00133 of the profits from my company for life.....

And of course the 50% owner/employee discount on every meal you ever eat with me.

edited the % of profit part...made a calculation error on overall %owned
Click to expand...
You may consider sending out your payments quarterly to simplify the bookkeeping and check writing.

 
Gawain said:
tipsy mcstagger said:
an unnamed FBG is wanting to step up to the full amount. I have no reason to believe he isn't legit.

have to go move a pit around....ill be gone for a bit. this is unreal guys....love this place.
Click to expand...
As someone who was thinking about throwing 2K at you when I got home, you'd be insane not to deal with one person instead of 40 of us degenerates.
Click to expand...
Have to agree here. Seems foolish not to just deal with one person rather than 30 - 60 of us at 1 - 2k each.

I'm still in if you want to go that route but I'm not sure it makes sense in light of this.

 
Honestly, I would be happy with the repayment, interest in the short term and the good faith 50% discounts when we visit, which would probably be just a couple of times in my lifetime if I had to wager.

ETA I agree it would be simpler to go with 1 person.

 
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