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Rationale posted:This is a non-starter for me. I want to make good coffee and amazing donuts. I want people to be like “drat, these are some really nice donuts” I don’t want to leave my first impression up to some other rear end in a top hat. 1) You need an accountant and a more detailed business plan. Being able to handwave a ballpark is good, but you're talking about a business with a fair number of moving parts. If you're going to put any more money into this you should know how much you're going to stand to lose. 2) I don't know that the lack of a Dunkin or Starbucks is the kiss of death that others are making it out to be. Lots of times Dunkin/Starbucks or CVS/Walgreens or Sleepys/Mattress King select locations due to an algorithm and consequently end up with locations right next to each other and none anywhere else until a competitor pops up and opens a new area in the optimization space. What this means though is... What are you going to do if that happens and a Starbucks opens up across the street? 3) Regarding the quoted bit: again you're going to be playing with a substantial amount of money. Especially if a lot of your business is going to be coming from rush hour you probably shouldn't be too precious about this "making your own donuts" bit. Coffee is what people will want/need in the morning. Not saying you shouldn't, but if it's proving to be a drag on your opening plan, it's ok to open even with just coffee and to promise amazing donuts later. Or to bring in someone else's donuts and to say "coming soon! Fresh baked in house donuts!"
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Oct 16, 2022 16:03
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| # ¿ May 14, 2024 15:37 |
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There used to be a lot of advice about this sort of thing in the GWS restaurant industry thread (or was it the chat thread? It's been a long time) so someone from there is probably better for this. But there used to be a bit of slightly facetious advice around there that if you are thinking about opening a restaurant, you should consider cashing out all your checking, savings, etc accounts, putting all that money in a briefcase taking a good hard look at it and throwing it into the nearest river. The idea is that often that is a safer bet than opening a restaurant because at least you won't go into debt, and your house, the money of people in your family, etc won't be exposed to the debt you may need to take on. That's not to say that no one should open restaurants (or indeed donut shops) on their own, but you generally need a rock solid business plan because there can be lots of costs that can spiral out of control when making food and employing lots of people. Or alternatively trying to take it all on yourself and flubbing on important stuff like keeping everything clean enough to pass health inspections.
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Oct 17, 2022 04:16
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GoGoGadgetChris posted:I have no math and I must cream Not an empty quote
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Oct 19, 2022 03:27
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KYOON GRIFFEY JR posted:I think you should get a fivver business plan If this is what he needs to get a plan written then sure. Unfortunately it's unlikely that a fivre person would be willing to confront OP and say "The numbers just don't add up. You can check my work. Are you really going to put more of your money into this?"
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Nov 18, 2022 16:48
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Doughnut Steel: original content
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Nov 19, 2022 06:52
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