okay now i'm worried.
- Thread starter Aaron Sice
- Start date
Professor, without knowing precisely what the danger is, would you say it's time for our viewers to crack each other's heads open and feast on the goo inside?
Aimjoy
"Yes, I would Kent."
And in reference to your quote in the other thread:
"procedure, it's a deadly procedure."
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Sounds like you've had a very bad run with, or know someone who has had a very bad run with a restaurant, there GR?
Thanks for the heads up, but you're talking to the king of risk averse here.
Also, we are not looking at running just a "mom and pop" cafe like the type you see for sale in Mornington for $50k every week. It is fully managed, but I will be overseeing that role, and be in complete control of the financial aspects.
This business is long established, very profitable and has had only 3 owners in 78 years.
This, to me, is a sign of stability and long-term profitability. On top of this, the area where it is situated is experiencing growing tourist trade and population growth due to improved transport over the last 10 years, and its position and aspect are unique.
It has a 4 sections; take-away, restaurant, cafe and functions - mostly weddings, and a number of corporate functions. The functions make up 50% of the business, the restaurant about 35%, the cafe about 10% and the take-away about 5%.
While there is risk, I am confident I can manage it.
hi L.AAussie
not had a run in
I was the one that said don't do it
they did put 7.5 mil in
I bought the lot at 4.5% of value.
and sold at 20% of value and did it with in 3 months so a happy margin and some was still new equipment.
and most of my guys say we should get back into it in a bigger way but its a bit of work that I don't want to put in.
I hope you do well I have seen so many that haven't.
I had a contract that fell over to ship catering equipment to china in 40ft containers and the equipment in em was free.
straight out of shops.
so again I hope you well its not for me
seen to many of the other side as the padlocks go on and they ring up and say sorry but can't pay the bill as just got locked out.
all service is cod not because we don't trust the client but we don't think they will be there tomorrow.
each time I watch ramsey I think
look at all that equipment it costs a heap to up keep and no customers
pass me the padlocks.
have I had bad experience
no
have I been in this industry for over 18 years yes
and would I get into a restaurant yes but just after getting out of selling a brothel as both are going to get me sc---ed and the last will leave me without any chance of getting another business as the creditors will sc--- me again
and as my cra will be sc---ed.
and seen lots of them.
so L.AAussie I hope you well and maybe I will have that hamburger with the lot.
but its a hrd business to make increasing income out of.
but don't let me put you off
not had a run in
I was the one that said don't do it
they did put 7.5 mil in
I bought the lot at 4.5% of value.
and sold at 20% of value and did it with in 3 months so a happy margin and some was still new equipment.
and most of my guys say we should get back into it in a bigger way but its a bit of work that I don't want to put in.
I hope you do well I have seen so many that haven't.
I had a contract that fell over to ship catering equipment to china in 40ft containers and the equipment in em was free.
straight out of shops.
so again I hope you well its not for me
seen to many of the other side as the padlocks go on and they ring up and say sorry but can't pay the bill as just got locked out.
all service is cod not because we don't trust the client but we don't think they will be there tomorrow.
each time I watch ramsey I think
look at all that equipment it costs a heap to up keep and no customers
pass me the padlocks.
have I had bad experience
no
have I been in this industry for over 18 years yes
and would I get into a restaurant yes but just after getting out of selling a brothel as both are going to get me sc---ed and the last will leave me without any chance of getting another business as the creditors will sc--- me again
and as my cra will be sc---ed.
and seen lots of them.
so L.AAussie I hope you well and maybe I will have that hamburger with the lot.
but its a hrd business to make increasing income out of.
but don't let me put you off
Gross,
Two hilarious posts... you really paint a picture with your words ( did you take 'english' classes last semester ??)
LAA,
You seem to have done your homework... so good luck with the endeavour.
80 wedding function per yr is better than one a week so it sound like a winner just on that front.
Maybe you can expand, create a niche and cater for 'divorce' parties ( potential growth business??)
kp
Two hilarious posts... you really paint a picture with your words ( did you take 'english' classes last semester ??)
LAA,
You seem to have done your homework... so good luck with the endeavour.
80 wedding function per yr is better than one a week so it sound like a winner just on that front.
Maybe you can expand, create a niche and cater for 'divorce' parties ( potential growth business??)
kp
hi kph
maybe posting here is improving my english
maybe can claim it as r@d.
I hope you like it
I can only tell it as I see it
and what you see is what you get
maybe one day I can post something everyone can understand.
but then again thats something martin luther king and john lennon tried so maybe not.
I like food
I just don't like losing money trying to prepare it.
I love the equipment as it cost heaps and has a very good margin.
and I just love when it breaks down as the margins are a bit better.
I just hate the bounce cheques the boos is not hear and can we pay at the end of the week that never comes.
an here is a great thing warranty aprts must be carried by the servcie company but only get credited when used.
so you can have 40k in a van up front paying interest on it and when used you get it replaced at cost so no margin and they if you charge labour its at a reduced rate
so you have to do 2.5 out of warranty to 1 in warranty to keep your head above water and then some turkey decides to padlock and you lose the cost of the invoice.
fun.
so yes food is great but the cost can be huge in the back end.
and don't get me started on training.
every time you see the new wizz bang high flying brand new microwave that will fry your b---s from 100ft the tech have 4 days of intesive training to fix that thing and most likely has come out of japan with no testing cos you shop is the test station.
and do the companies that are pushing the 100ft microwave fryer pay for the training give me a break
they don't put up coffee
and the best you get is well fix it youve been to training.
please.
and you have mario the shop owner that 2 weeks ago was an accountant and gave it away to retire into this business.
as his customer says the foods cold because the 100ft frying microwave isn't working.
well lets get back to the post.
because that 100ft microwave is what you are seeing in this market.
and the service tech is the bank managers ( as they have no clue of what happening).
and in the microwave is an egg without any hole in it( loans and lending).
and it will explode( as is the case now).
now when it does explode it breaks the glass(rba) and then it implodes as cold air rushes in ( mr rudd) and the everyone looks at it and says.
gee that looks like s--t and what can we do.
well am I worried yes and no
yes because its getting worse and its not looking like anyone has a clue as lots keep saying we want to lend but in reality don't or can't and when they don't end up getting the kick out the door and for some this is a good thing.
but no because they have to buy another microwave and the old one has to be serviced so maybe a job in it.
hope you all well
maybe posting here is improving my english
maybe can claim it as r@d.
I hope you like it
I can only tell it as I see it
and what you see is what you get
maybe one day I can post something everyone can understand.
but then again thats something martin luther king and john lennon tried so maybe not.
I like food
I just don't like losing money trying to prepare it.
I love the equipment as it cost heaps and has a very good margin.
and I just love when it breaks down as the margins are a bit better.
I just hate the bounce cheques the boos is not hear and can we pay at the end of the week that never comes.
an here is a great thing warranty aprts must be carried by the servcie company but only get credited when used.
so you can have 40k in a van up front paying interest on it and when used you get it replaced at cost so no margin and they if you charge labour its at a reduced rate
so you have to do 2.5 out of warranty to 1 in warranty to keep your head above water and then some turkey decides to padlock and you lose the cost of the invoice.
fun.
so yes food is great but the cost can be huge in the back end.
and don't get me started on training.
every time you see the new wizz bang high flying brand new microwave that will fry your b---s from 100ft the tech have 4 days of intesive training to fix that thing and most likely has come out of japan with no testing cos you shop is the test station.
and do the companies that are pushing the 100ft microwave fryer pay for the training give me a break
they don't put up coffee
and the best you get is well fix it youve been to training.
please.
and you have mario the shop owner that 2 weeks ago was an accountant and gave it away to retire into this business.
as his customer says the foods cold because the 100ft frying microwave isn't working.
well lets get back to the post.
because that 100ft microwave is what you are seeing in this market.
and the service tech is the bank managers ( as they have no clue of what happening).
and in the microwave is an egg without any hole in it( loans and lending).
and it will explode( as is the case now).
now when it does explode it breaks the glass(rba) and then it implodes as cold air rushes in ( mr rudd) and the everyone looks at it and says.
gee that looks like s--t and what can we do.
well am I worried yes and no
yes because its getting worse and its not looking like anyone has a clue as lots keep saying we want to lend but in reality don't or can't and when they don't end up getting the kick out the door and for some this is a good thing.
but no because they have to buy another microwave and the old one has to be serviced so maybe a job in it.
hope you all well
