Big Dogs Eat Little EVERYDAY Dogs
It has been a long time desire of my wife to someday have a restaurant of her own. About a year ago events lead to the serious consideration of doing this.
I , in my analytic fashion, began the process of researching the how, where, what, etc. I found forums, industry articles, local authorities. I began meeting with SCORE and the Colorado Business Center.
We ran the demographics, wrote a business plan, even put in place a profit loss statement.
And we ate in almost every similar style business in the area.
What took shape was a plan to open a breakfast/lunch cafe/diner. The plan looked good. We felt confident the homework we had done was thorough.
We started looking at the pros and cons now of whether to start from scratch with a unique concept or buy into an established for sale business.
The startup capital required kept us from option one. The reality of time it takes the mom and pop shop to break even puts almost everyone out of business in the very 1st year!
Here is the worst part. Option 2, buying someone's else's dream, problem, business...well...we looked at over 7 that were for sale. All appeared like great opportunities. We could walk in for x amount, put our sign up and, viola, we were in business.
There was just one small obstacle. In every instance, the asking price was in every instance way high relative to the profit loss statement. In every instance, that statement should have just been titled LOSS! LOL None of them could show verification of the profit side.
Even with that, we came so close to ignoring the facts and taking the plunge.
It has been over a year and where are we at? It's still a hope but it has been a real eye opener. Every one of the businesses we have looked except ONE are now OUT OF BUSINESS. Gone. Closed up. The same honest looking, nice people that would look me in the eye and ask for our 50k, 100k or 200K, expound the virtues of their biz, all now closed up.
Lesson learned. Lesson noted for the EverydayGuy. This dog got a little bit bigger.
Life from the eyes of fun-spirited folks
Do you need a good laugh? Spirits need a lift? Maybe that is why I often check out the following sites.
Cockeyed.com
Rob Cockerham' site is a fun one to visit. Don't miss his pranks, How much is inside, and things he has sold on eBay.
Coloradoguy.com
I've mentioned Steve's site before. You'll find a community there of real people that have developed what I will call a real social conscience. Great pics on our beautiful area too. One warning, before you think Steve is serious about half the stuff he writes about, one word...SHTICK. Know what I mean?
ATTENTION DEFICIT?
Slow down, you move too fast..That is the way I feel about our information overloaded culture!
In the many endeavors I must balance in my everyday life, I have found I never have enough time in the day. If you listen to Franklin Covey, they would say I just don't use the time I have as productively as I should. Maybe.
Case in point, I realize that at the moment I am in the process of reading numerous books. Rick Dad Poor Dad, Benjamin Franklin - An American Life, The Purpose Driven Life, and probably a couple more...I'll get to those when I find where I laid them down.
Super Sunday
It is America. It is January..wait!...February!...and I am talking about Super Bowl Sunday. In February. Guess everything is taking up more time. Does any one else remember this game being played in the middle of January!?
My pick, for the record, will be New England...and here is the bold part. I believe they will cover the 6.5 point spread.
I , in my analytic fashion, began the process of researching the how, where, what, etc. I found forums, industry articles, local authorities. I began meeting with SCORE and the Colorado Business Center.
We ran the demographics, wrote a business plan, even put in place a profit loss statement.
And we ate in almost every similar style business in the area.
What took shape was a plan to open a breakfast/lunch cafe/diner. The plan looked good. We felt confident the homework we had done was thorough.
We started looking at the pros and cons now of whether to start from scratch with a unique concept or buy into an established for sale business.
The startup capital required kept us from option one. The reality of time it takes the mom and pop shop to break even puts almost everyone out of business in the very 1st year!
Here is the worst part. Option 2, buying someone's else's dream, problem, business...well...we looked at over 7 that were for sale. All appeared like great opportunities. We could walk in for x amount, put our sign up and, viola, we were in business.
There was just one small obstacle. In every instance, the asking price was in every instance way high relative to the profit loss statement. In every instance, that statement should have just been titled LOSS! LOL None of them could show verification of the profit side.
Even with that, we came so close to ignoring the facts and taking the plunge.
It has been over a year and where are we at? It's still a hope but it has been a real eye opener. Every one of the businesses we have looked except ONE are now OUT OF BUSINESS. Gone. Closed up. The same honest looking, nice people that would look me in the eye and ask for our 50k, 100k or 200K, expound the virtues of their biz, all now closed up.
Lesson learned. Lesson noted for the EverydayGuy. This dog got a little bit bigger.
Life from the eyes of fun-spirited folks
Do you need a good laugh? Spirits need a lift? Maybe that is why I often check out the following sites.
Cockeyed.com
Rob Cockerham' site is a fun one to visit. Don't miss his pranks, How much is inside, and things he has sold on eBay.
Coloradoguy.com
I've mentioned Steve's site before. You'll find a community there of real people that have developed what I will call a real social conscience. Great pics on our beautiful area too. One warning, before you think Steve is serious about half the stuff he writes about, one word...SHTICK. Know what I mean?
ATTENTION DEFICIT?
Slow down, you move too fast..That is the way I feel about our information overloaded culture!
In the many endeavors I must balance in my everyday life, I have found I never have enough time in the day. If you listen to Franklin Covey, they would say I just don't use the time I have as productively as I should. Maybe.
Case in point, I realize that at the moment I am in the process of reading numerous books. Rick Dad Poor Dad, Benjamin Franklin - An American Life, The Purpose Driven Life, and probably a couple more...I'll get to those when I find where I laid them down.
Super Sunday
It is America. It is January..wait!...February!...and I am talking about Super Bowl Sunday. In February. Guess everything is taking up more time. Does any one else remember this game being played in the middle of January!?
My pick, for the record, will be New England...and here is the bold part. I believe they will cover the 6.5 point spread.
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