They are right on the main highway, next to the movie theater. I'm still thinking of putting this business in town, but downtown, which is not really the best location. But I want to have a pizzaria and a deli. If you had $100,000 + to do this, would you gamble on it, knowing there is another similar business not too far from town? Reminder, I would be right in town.
2006-10-28 12:25:49 · 6 answers · asked by margierosie1026 2 in Business & Finance ➔ Small Business
In a community of 2000, where the majority of your profit center would have to come from out of town (a town of 2000 can't support a $100000 pizzaria) the ideal location would be on the main highway.
Remember, with the average household having three or four people, you're talking about 500 households in town. Most will eat at home most often, and when they eat out, they'll mix it up...your place, the place out on the highway, a place in the next town, etc. So, you probably can't count on a steady in-town full house every day. Also, your meal hours (outside of the stray visitor) are pretty limited, so you have to make an intensive selling window in that limited time slot. If your profit is $5 on a pizza (and it probably isn't), and you can sell to 10% of the households in town every day (you can't), you're looking at pulling $250 in profit a day.
On a one hundred thousand dollar investment, with ongoing expenses, $250 is a scant amount.
Were I you (and I'm not!!), I'd sit down and put together a solid five year business plan based on a complete survey of the community, a look at the other businesses' five year plans (is the big employer thinking of pulling up stakes? is a chain pizzaria and deli coming into town 30 days after you open?), and THEN I'd make a decision on spending that sort of money.
You might do well to look at the nearest town of, say, 30000 or 50000 people instead of a town of 2000.
Good luck. - Stuart
2006-10-28 12:40:49 · answer #1 · answered by Stuart 7 · 0⤊ 0⤋
Considering the size of your town you would have to be prepared to be very competitive with your prices for a start. Which can be hard because you are a new business and would like to make money but i'd imagine you wouldn't turn much profit for the first year. Secondly you have to be prepared for the othwer business to undercut you at every turn. Lastly offer something unique to your customers that would entice them back for more.
GoodLuck owning your own business is a tough game.
2006-10-28 19:30:59 · answer #2 · answered by gypsywife2b 2 · 1⤊ 0⤋
Go to http://www.score.org/ to find the nearest SCORE chapter. Contact them to arrange for a free one on one meeting with a SCORE counselor.
SCORE is a nonprofit organization. They provide a public service by offering small business advice and training. .
SCORE's 10,500 volunteers have more than 600 business skills. Volunteers share their wisdom and lessons learned in business. The volunteers are working/retired business owners, executives and corporate leaders.
2006-10-28 21:11:29 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Talk to the owner of the established bussiness and you will not only make a new friend, together you can help one another out. You could be Vegetarian, and he could agree to co-operate. Or visa versa.
If I had 100k, I would open a bar. And serve my new buddys pizza in it.
2006-10-28 19:39:19 · answer #4 · answered by Yawn Gnome 7 · 0⤊ 0⤋
If you are a good cook as I think you are, go ahead and make that business of yours come true, heck if you love what you are doing and make money out of it, then you will likely succeed and people will know that from your recipes and the flavor of you menus will stand-out. Goodluck :-)
2006-10-28 19:34:56 · answer #5 · answered by Jetty 4 · 0⤊ 1⤋
I'd open up.But try to put as less capitol (money) into the business as I could.
2006-10-28 19:28:58 · answer #6 · answered by telis_gr1 5 · 0⤊ 0⤋