Ok, so you all got to see me celebrate in the last two weeks as I won item after item at the auctions!
You know what happens next, right??
A job offer.... one that has my interest piqued and has my wheels spinning. We all know how hard it is to be a bakery owner, and yet how rewarding it is.... but the job offer is much the same... it's creative, it's a challenge, and it offers a paycheck AND a percent of profits.... just like having a shop.... At least with my plan.... so UGH.
well one sign has come clear... yet another bank turned me down. So I guess I give the job offer my all while I wait for another bank to turn me down... LOL... and then sell off all the stuff i got. =( let's hope I make a profit on that anyway....
I'm so bummed out!
Oh I'm so sorry!
Here's a little huggy bear to help you feel better...
LOL... thanks, the pumpkin made me laugh more than the bear!
Let's hope that there's a market for the items I might be designing!
as a new shop owner, I'd almost kill for a paycheck. no kidding. overhead is killing me.
what are you going to be selling?
Yes, what have you been buying--I guess I missed your other posts--I myself have been hitting ebay and craigslist like a crazy woman in order to get my commercial kitchen up and running.
If i get it together it's cakes and sweets... I have an existing book of business because the job I was laid off from =( is giving me the customers and the wholesale accounts... so I could have money quickly... I have to rent a place, can't start from home with 4 dogs... =( and can't figure out what to do!
My business plan built in paychecks for me and a helper PT since I can't live without a paycheck with a mortgage to meet....
Argh. Just not my day.
Yeah, let me know what you have, I 've been looking too.
I feel your pain. I've had banks turning me down too. "Not enough income" -- well duh---- I"m not in business yet!!!! so frustrating.
ok, so the secret website is www.auctionzip.com
the secret search word is restaurant or bakery
the winnings so far-
30 qt hobart mixer,
8ft stainless steel table with overshelf and sink
4 ft stainless table with a fridge built in
5 ft maple top table with a drawer and a shelf
2 bay stainless sink
glass display case
2 bakers racks, 18 spots, side loading
4 ft stainless table with shelf
frogger arcade game
48 full sheet pans
small scale 32x1/4oz.
** wish I would have spent more at that auction!!**
at the next auction-
two metal 'bun pan' racks $4
two OLD school bakery racks, plastic and metal mixed- $2
Blodgett commercial oven on a stand $250
So less than 2000 invested, but still!! These are the tips I posted in the other link--
Tips--- gained from auction experience... I don't pretend to be a pro, just awful successful from practice!
1- Take a pen and paper... and write down what you want, and what you want to spend on it. Don't deviate unless you save on a prior item... So, I wanted an oven at the last auction and was prepared to spend $500. I wanted some of the bakery racks planned $10 each since they were old. After that, I only bid on something NON-essential ONLY if it's down to $1. So the microwave for me counted as a non-essential item, but for $1 who cares? If you save enough on the first few things, or you back out of the bidding, you might want to spend a little extra on the bigger things. As I said to my friend, EYES ON THE PRIZE. Ovens and mixers are ESSENTIAL items to a baker. Pretty maple tables are not-- they're nice, but just not essential when stainless steel tables are cheaper!! Money saved on tables becomes more money for mixers and ovens....
2- Don't be the first one to bid until it gets down to $1. Don't start it at five because that's what you're willing to pay-- let it drop to $1. it might get up to five, but it may stop at three, not spiral up to $10. Beware of when the auctioneer says BY THE PIECE... that means if it's 20 trays and it's $5 each you just spent $100.... Wait for 'By the lot' which is the whole stack for one money-- like $60 for all 20!
3- KNOW YOUR PRICES! I saw bakery trays sell for $10 EACH in an auction and my friend kept nudging me. HA! I said, in some catalogs they are only $8 each new... so don't pay more than what the catalogs sell it for! I got my USED trays for $3 each!
4- Take a drink and a snack, and leave the kids at home (or bring Ipods and things to keep them occupied for hours!!) The auctions I have been at do not have intermissions, and they are fast paced... so you have to pay attention and you don't want to pay concession stand prices.
5- LISTEN to what other people say!! If you're eyeing up a big piece of equipment and you see other people doing the same, wander close to them and listen to what they are saying-- you may find out it's a propane stove, not electric, or a three phase, not a one... or that the cafe that it was in always had trouble with it... I kid you not. People will talk about the stuff they see!! and people are NOSY! Don't disclose everything you are thinking about a piece, they could be plants to make the prices go up. Seriously!! Some auctions have people there that are there just to make the price go up.
6-- BE PREPARED TO TAKE IT HOME. That day. that afternoon.... The sooner the better!! So don't take the Prius and expect to bring home the stuff you bought. Bring a friend with a truck or a mini van with no seats.... or like me, the friend with a clean horse trailer!! I put the gas in his car for the trip and he lets me abuse him loading and unloading the trailer.... and plan on where you're going to keep it too!! After the first auction I had this "oh *&% where am i going to go with all this stuff look on my face... Surprised and was going to try and find a storage unit... and then i called my sister and she's letting me take over her garage... SOME auctions will let you leave it there for a day or two while you get your stuff together... tell them when you plan to come back, and leave a note on the stuff you;re leaving behind so that they know what the plan is... LOL... today I drove home with a bakery rack strapped to the roof rack on my minivan!!
If I think of more, I'll post more later... but these are the basics I use...
now that I've thought about it, I'd put the goodies in storage or the garage and work at a bakery collecting a paycheck, and collecting experience. when the timing is right, you can use all your goodies.
after 11 years in a grocery and two in a high end wedding cake place, the experience is there... just not the faith to leap and start it without a safety net to get me going! I'm a wimp.
You gave excellent auction tips!! I bought most of my shop equipment at auctions and your advice is dead on the money.
I've been in business almost 11 years....8 at home (having added on to the house and taken over the entire downstairs portion of the house) and almost 3 in a shop. Still waiting for the elusive paycheck, but my husband takes care of living expenses. I was pretty much there, but moving into a commercial location (two in one year...and that's another story) changed what was going into my pocket.
One suggestion: is a live/work situation possible? You know, live upstairs and the business is downstairs. Some commercial buildings have apartments (or what can be an apartment) above them. Then you only pay one bill.
It has not been easy these past 2-3/4 years but I wouldn't have missed this ride for anything!! Don't give up!!
I was so pleased for you with your auction bargains.
But if today is the day you start to believe in yourself, then today is the day you become a real winner. Face up to what could be the worst thing to happen, think of what you would need to do to survive that then go for it. You'll only spend your life wishing and wondering what could have been if you don't. Love and positive thoughts being sent your way.
Dont be scared of flying, be scared of never being able to experience it.
Everyone needs that one bakery essential---the frogger arcade game!
Everyone needs that one bakery essential---the frogger arcade game!
HAHA Ya, i know... it was only $50 and I know some hard core gamers that have already offered me $300 for it... LOL... I may have to auction it off to them!!
Thanks for all the tips on autioneering! I've been wanting to go ever since you started telling us about all the good deals you find!
This is a great tip. Do these items hold up over the long haul? That is, is it safe to buy used equipment at auction?(no warranty, etc)
I don't have the answer for you yet-- but, if it's from an auction of a shop that just closed, chances are that they were using it until they closed... so your odds are pretty good. If It's from someone's garage, and it was aunt so and so's... I'd be wary because you just don't know. I scored at the big auctions.. but who knows? It was a used re-seller, so it PROBABLY will work, but really.. until I get it plugged in, it's anyone's guess!
Also, Check out my thread about Craigslist... I scored three household fridges and an upright freezer for $45 this week! It cost me $88 to rent the truck but hey... it's a steal no matter how ya look at it!