Author Topic: New small business, wish me luck! (Read 1500 times)

Chairboy · « **on:** December 23, 2003, 09:49:28 PM »

Hi guys!

My wife and I just bought a small business. I read that something like 80% of small businesses fail quickly, so I know we're in for quite a ride!

It's a pizza shop in Springfield, OR. I've put in a computer system to replace the paper accounting, my wife has changed a bunch of procedures, and it's generally been a real kick getting to know the great people we have working for us.

The best part, our pizza tastes good!

Anyone have any experience with small business like this? Any advice?

Lazerus · « **Reply #1 on:** December 23, 2003, 09:51:38 PM »

You do ship cross-country don't ya??

I'd like one slice of pepperoni please.

GL with the business, best wishes to ya.

Habu · « **Reply #2 on:** December 23, 2003, 10:45:42 PM »

Good luck.

I have started up 4 over the past 10 years and each has survived and made money. Don't believe the stats. Lots of corportations are just temporary shells to protect assets or offload risk. A small properly run business will survive and make money as long as you follow a few simple rules.

Never borrow more than you can payback in a year. Take your weekly estimates for cash flow and half them and see if you could still survive. If not raise your prices or lower your overheads. Do not spend any money for the first 3 years in your personal life that you don't have to. Ie no new cars boat etc. Just run the business as efficently as you can and see what is left over each year. Reinvest in the business the profits ideally in ways that lower your costs. (Buy out the landlord for example).

I hope you make tons of dough. (that was a joke).

Good luck.

MRPLUTO · « **Reply #3 on:** December 23, 2003, 11:08:23 PM »

REMEMBER: It's not how much you make, it's how much you spend!

ALSO: Never compete on price alone.

For people like me, who don't eat dairy products, you might want to offer a no-cheese pizza if you don't already.

Good luck!

MRPLUTO

SOB · « **Reply #4 on:** December 23, 2003, 11:08:54 PM »

Good luck, Chairboy! What's the name? Next time I'm down in the Eugene area, I'll stop in and buy a pizza and say hi.

Toad · « **Reply #5 on:** December 23, 2003, 11:12:03 PM »

mmmmmmmmmmmmmmmmmm........... ..........Pizza!

Good luck!

AKS\/\/ulfe · « **Reply #6 on:** December 23, 2003, 11:13:36 PM »

Don't do any of that pineapple and whatever ****.

Buffalo wings, learn to make the best ever and you're set.

Dominos Pizza, they have managed to both suck and blow at the same time- whatever new idea they come up with, do the opposite, or nothing at all, but never the same thing.
-SW

majic · « **Reply #7 on:** December 23, 2003, 11:57:44 PM »

Ummm, good luck. Hope you do a decent deep dish. Do you deliver?

Chairboy · « **Reply #8 on:** December 24, 2003, 12:12:18 AM »

Thanks all!

Majic: Yes and yes.

Lazerus: Sure, but it'll be COD.

AKS\/\/ulfe: Heck yeah we do stuff with pineapple. What's mysterious is that we don't have anchovies for some reason...

SOB: It's a Figaro's on the east end of Springfield, in the Thurston area. I'm flying back to LA in a week, so I won't be in, but maybe I can arrange for a free pizza. I've got an in with the boss...

MrPluto: We can definately do a cheeseless pizza. It's the 'hold the crust' orders that are tricky.

To the rest, thanks for the advice & encouragement! I had a lot of fun making pizza when I was in high school and my wife knows the food business, so unless we really mess up big (Invest everything into a TV campaign advertising sushi-pizza?)....

I'm looking forward to adding some new products. I'm not sure I can introduce Boba Tea, but there are other things that should definately taste good.

SOB · « **Reply #9 on:** December 24, 2003, 12:22:41 AM »

Well hell, you're already off to a good start - you've already got customers who know who you are and what you sell. Had a friend who used to manage a Figaros in Salem, and yes, I would like extra extra EXTRA bacon on my bacon pizza.

Nilsen · « **Reply #10 on:** December 24, 2003, 01:20:58 AM »

GL Chairboy.

Only advice i have for you is not to take out any money for the first couple of years and dont plan on making a living from it in the first 5. If you do make alot of money from the start then chill and save it. You or your woman should also have a second income so you dont have to take out money on a regular basis to pay your private bills and food.

Most businesses that i know of fail in the second year cause the owners turn a profit in the first year after working hard and get excited.

Nilsen · « **Reply #11 on:** December 24, 2003, 01:26:10 AM »

Oh another thing.

When in the resturant business, ALWAYS keep it clean and follow all rules and regulations, If one guy gets sick from your food

or one guy starts a rumor that your kichen is not clean then it will take a long time to change that reputation.

Nilsen · « **Reply #12 on:** December 24, 2003, 01:30:05 AM »

oh.one more thing

If you have any competition (of course you do), then keep it friendly and don't piss them off for a couple of years. They will do what they can to keep their customers and they prolly have the finacial strength to keep a "war" going longer than you...be smart

capt. apathy · « **Reply #13 on:** December 24, 2003, 01:31:55 AM »

so whats the name? when I get back to work I spend about 1-2 months per year working in springfield (with the new co-gen being planned in coburg I could be spending half a year or more down there. soon) good pizza is a staple of life on the road, and I could send some bussiness your way.

btw-new york, chicago, or that hippy, vegan, vegitable, goatcheese crap?

Octavius · « **Reply #14 on:** December 24, 2003, 01:51:39 AM »

Congrats and good luck Chair!

What timing too. I was in Chicago today and stopped by Giordano's for some stuffed pizza. My god it was heaven.

But I'd love to compare... mail me a few of yours!

(Yes, that is what I ate today, yes, I happened to have a camera on me, and yes, I did plan on posting it anyway)