Hawaiian BBQ restaurant Investment?
See L&L growing, like to open the Hawaiian BBQ restaurant.
I got a great deal, the owner runs a teriaki restaurants, no experience. The space 1600 sf. in a busy shopping center near Target, Marshall…
I can get it for ,000 with all equipments, only 3 years old.
The rent is high, 00/mo, the lease ends July, 2009;
elec & gas 00/mo, the average annual sale 0,000, grocery about 30%, employee 30%…
If I take over, I definitely can drop grocery & employee at least 25%, that I can get over 20 - 30% net profit. My conservative net profit at least ,000 per year.
Within 3 months, I can get my investment back. Gradually I will convert it to Hawaiian BBQ, there is new opening in the city, but far away.
1, Do you think it is good investment to buy the restaurant?
2, any idea how to miminize the risk?
3, pick good name for the restaurant?
4, don’t worry about competition? There are 19 L&L in my city - San Diego.
5, how to promote my restaurant business?
Thanks
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I am thinking of buying this local gym. Do you think it is a good idea? ANY help would be great! thanks!?
I do not have the funds to buy a huge business so I’ve started looking small. I want to get my feet wet so to speak with buying, running, and then selling a business.
I have come across a local gym that has been there for 28 years. They have a website and an established brand. The asking price is ,000. The rent is 00 per month and the income for October was 00. There are only two pieces of equipment on lease and they are going to be bought out and included in the purchase price as well as all of the equipment in the gym. I believe the equipment alone may be worth the cost of they gym. That is all of the information I know for certain. I have just sent a follow up email asking for the financial statements for the past 3 years, for the number of employee’s and their total monthly salary, and for the business’s current liabilities and monthly expenses besides rent.
I have also asked very humbly how many hours each week the owner needs to put in and what is the real income of the owner after all of the expenses each month, just to get a better picture. Hopefully that wasn’t too much to ask?
My thoughts are that if it only requires 20 hours or so a month to make 00 a month, it seems a pretty good deal. I would also consider getting rid of an employee and assuming their hours at the gym in order to increase my personal income. I was told that the owners are a husband and wife (owned for 8 years now) and they are selling because the husband is an executive working 60-70 hours a week while going to school at night and that the wife is a stay at home mom and that they do not have the time to manage the gym, although it has pretty much run itself they say.
Sorry to be so lengthy, but that is all of the information I have. I would love to hear what all of your thoughts are on this purchase and how much you really think I’d make here. Of course, if it ends up requiring 50 hours a week to make K a month, I’ll turn it down. I cannot see very many other opportunities though within my price range of -40K. I currently pay 0 a year for my own gym membership elsewhere so that would be a plus of this purchase as well.
Thank you all!
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