glumpy
breeze
(Originally titled "Buying a Restaurant")
I've been holding off asking for awhile because I didn't want to distract from the wonderful establishment tipsy has been putting together but it's gotten to where I could really use some help here myself! And make no mistake--it's nowhere near in that league but this is an exciting opportunity in its own right.
This would be 'my wife's restaurant'--or at least that's the inspiration that will make it take off. We're looking at an established pizza joint, with the prerequisite chicken wings. It's been in operation for 2-3 years as a hobby for someone whose primary career has taken off to where he doesn't have the time to devote to it. Leased space in a strip mall, take out only with the 'hot and ready' theme, some delivery for larger orders (maybe half a dozen or so school functions through the year so far). It is to this point breaking just better than even despite the owner being out of town a lot.
The purchase imo is of the equipment--top line pizza belt oven, dough maker, large prep area, good displays, drink display cooler, walk in cooler, etc. We would keep the menu intact for now but the goal is to go after a 2000-strong Latino market within a half mile of this place, with a couple particular service items (posole, burritos...). With my wife's connections and networking the advertising is already in force!
It would call for one additional piece of equipment--a commercial stove top and oven. There's just room enough to extend the vent hood and fire suppression to add one I think--have to confirm with the fire marshal, and my own company manages another strip mall so I can see what's involved with that before contacting them as well.
We would also like to add an ice cream freezer--that's a no brainer considering friends who make ice cream locally. One for 4-6 tubs, serving cups and/or cones only, rotating flavors.
The restaurant looks like a chain, smells like a chain, tastes like a chain.....but it's "not a franchise". I've got to contact the home company in this state to see just how that's possible. They are ordering foodstuffs from their source for delivery, using their logos and featuring their menu, honoring the same promotions I think. This unit is not advertised in online promos and not paying franchise fees that I've been able to find. We're assuming to maintain that for now at least and in any case it's built for pizzas. I don't know yet how controllable either temps or conveyor speeds are in the triple tier oven.
OK--that's the synopsis....What all am I missing? I've got the money put together for 40% down and the owner is willing to finance the remainder. That should leave enough for first couple months supplies though we may have to make use of a residential stove and oven which I already possess to get that ball rolling. I assume the management company is going to want to rewrite the lease and will have to talk with them about that hood modification. We intend to keep the core of the crew intact. I intend to compete insurance coverages. The centerpiece of the mall is a Krogers so there is the option of purchasing locally should that become either necessary or preferred.
I've also got an idea to talk to the management company about special events--it's just too perfect a situation not to park a cooker out front on weekends, maybe a tent event or the like. There is excellent traffic flow through there on weekdays--it's been an established restaurant alley for better than 35 years that I know of, having managed one of them in the early '80's. Some kind of weekend draw would be a plus.
I've been holding off asking for awhile because I didn't want to distract from the wonderful establishment tipsy has been putting together but it's gotten to where I could really use some help here myself! And make no mistake--it's nowhere near in that league but this is an exciting opportunity in its own right.
This would be 'my wife's restaurant'--or at least that's the inspiration that will make it take off. We're looking at an established pizza joint, with the prerequisite chicken wings. It's been in operation for 2-3 years as a hobby for someone whose primary career has taken off to where he doesn't have the time to devote to it. Leased space in a strip mall, take out only with the 'hot and ready' theme, some delivery for larger orders (maybe half a dozen or so school functions through the year so far). It is to this point breaking just better than even despite the owner being out of town a lot.
The purchase imo is of the equipment--top line pizza belt oven, dough maker, large prep area, good displays, drink display cooler, walk in cooler, etc. We would keep the menu intact for now but the goal is to go after a 2000-strong Latino market within a half mile of this place, with a couple particular service items (posole, burritos...). With my wife's connections and networking the advertising is already in force!
It would call for one additional piece of equipment--a commercial stove top and oven. There's just room enough to extend the vent hood and fire suppression to add one I think--have to confirm with the fire marshal, and my own company manages another strip mall so I can see what's involved with that before contacting them as well.
We would also like to add an ice cream freezer--that's a no brainer considering friends who make ice cream locally. One for 4-6 tubs, serving cups and/or cones only, rotating flavors.
The restaurant looks like a chain, smells like a chain, tastes like a chain.....but it's "not a franchise". I've got to contact the home company in this state to see just how that's possible. They are ordering foodstuffs from their source for delivery, using their logos and featuring their menu, honoring the same promotions I think. This unit is not advertised in online promos and not paying franchise fees that I've been able to find. We're assuming to maintain that for now at least and in any case it's built for pizzas. I don't know yet how controllable either temps or conveyor speeds are in the triple tier oven.
OK--that's the synopsis....What all am I missing? I've got the money put together for 40% down and the owner is willing to finance the remainder. That should leave enough for first couple months supplies though we may have to make use of a residential stove and oven which I already possess to get that ball rolling. I assume the management company is going to want to rewrite the lease and will have to talk with them about that hood modification. We intend to keep the core of the crew intact. I intend to compete insurance coverages. The centerpiece of the mall is a Krogers so there is the option of purchasing locally should that become either necessary or preferred.
I've also got an idea to talk to the management company about special events--it's just too perfect a situation not to park a cooker out front on weekends, maybe a tent event or the like. There is excellent traffic flow through there on weekdays--it's been an established restaurant alley for better than 35 years that I know of, having managed one of them in the early '80's. Some kind of weekend draw would be a plus.
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