Ok What Would You Do?

Lounge By Crazboutcakes Updated 13 Mar 2011 , 5:20pm by cabecakes

Crazboutcakes Posted 9 Mar 2011 , 6:15am
post #1 of 8

Please forgive the long post but really need some help here. I have such a dilemma, not really sure where or how to process this and I figured seeing that all of the CC er's here would understand how I feel and give me their honest opiniion about my dilemma! I have been doing cakes for a while more so just a pleasant hobbist with this large passion to learn everything that I cake about cakes and am off to a unbelievable good start and always dreamed of eventully opening my own baker one day. icon_biggrin.gif But recently I have had an offer that I almost can't refused but am very torn between a passion for cake and an opportunity of a life time.
I had recently gone to a bridal store to be fitted for a wedding (bridesmaid) and when I was there the owner and I had been talking casually and out of the blue she said "had I ever thought of owning my own store, I was kinda dumb founded because we hadn't spoke about anything regarding cakes or otherwise. She in turn began to say how much she like me and that I was easy to speak with and had a pleasant demenor, she says you seem like a very trust worthy person icon_cool.gif I was flattered needless to say. A few more moments went by with small talk and she asked again " would I be interested in ownig my own store". i asked what kind of a store would you be talking about? She said a bridal store! icon_eek.gif I am not sure where the idea came from as far as she was concerned but I told her that I couldn't afford to start a bridal store what so ever! icon_redface.gif She replied with "If I hold the note would you consider it"? icon_surprised.gif Instead of me saying no I didin't think so, the business side of me kicked and and my mind took off on the possiblities! icon_cool.gif I said I'd have to think about it and I'd have to see your books and so on and so on. Now completely shocked icon_eek.gif at what I said , I asked her how much she wanted for a thriving business on main street and only one of 2 store in a 2 hour radious in any direction! She said she wasn't sure so I left her with " let me know what you are asking" ? And I'll call you in the morning. icon_surprised.gif I couldn't shut up!
I guess my question is to all that enjoy the caking life would you give it up to go in such a different direction with the possiblities of expanding into wedding cakes being offered as a second part of the company? DH isn't helping, he just says that it is a great opportunity and it's my decission! Thanks for the help icon_twisted.gif LOL I guess I just needed some other in put and I am coming to my respected peers in "What would you do"? Continue a dream of a bakery which is at least 4 years or more in the making or jump into a business that is thriving already? I need help in decideing! Anything would help, please.

7 replies
scp1127 Posted 9 Mar 2011 , 8:00am
post #2 of 8

I have been in sales all my life and I have had my real estate license. The owner of the store wants to sell and she poured it on you pretty hard. She is doing the same speech to anyone who will listen. PLEASE have an accountant look at the books and you will most likely find a business that is not thriving, unless she is retirement age. Also, store inventory in a business for sale is mostly slow moving stock and may be worth 10 cents on the dollar. I have shared this before... I once bought a building that had been a Hallmark/flower shop. I listed the inventory and fixtures as trash to be removed and charged a trash disposal fee against the bottom line. They accepted. An owner knows when they are caught with dead inventory. I am assuming that she does not own the building. The lease amount may be well above these recession rates and it may have years to go. Have an attorney look into liabilities such as unpaid workers comp, which is passed to the new owner if the wording is not correct.

It is a tough time to start a business. In all of my years dealing with businesses, I have never seen a business work where the owner is not a master in the field. And according to SBA, 80% of small businesses fail under the best of circumstances.

There is a strong chance that this is no deal. Keep your dream.

Crazboutcakes Posted 9 Mar 2011 , 10:48pm
post #3 of 8

Thanks scp1127, I am definitely gonna go in with caution! I do have some because experience in the passed and know anyone can say anything but the books do not lie. The person selling has a few other business in the area but says that her daughter decided to go to college and wants to teach and not sell bridal clothing, which is fine. I will defiantly have an account/lawyer check out all info prior to grabbing a pen. I appreciate your time, and my passion for cakes definitely takes over my desire to sell dresses. Will go through everything with a fine tooth comb (including inventory) do a lot of praying for answers and guidance to make the right decision. Again Thanks

costumeczar Posted 10 Mar 2011 , 3:29am
post #4 of 8

I'd be very wary too...It's flattering that she would say such nice things about you, but seriously, that out-of-the-blue sales pitch is strange. I think scp1127 is probably right that she's giving the same sales pitch to anyone who will listen.

And wedding dresses are even more of an emotional element in the wedding than cakes are, so if you don't have any experience I'd be really careful. I have a lot of experience in sewing and have made wedding gowns before, and I wouldn't want to be involved in that category of business. Too much drama.

costumeczar Posted 10 Mar 2011 , 3:30am
post #5 of 8

I'd be very wary too...It's flattering that she would say such nice things about you, but seriously, that out-of-the-blue sales pitch is strange. I think scp1127 is probably right that she's giving the same sales pitch to anyone who will listen.

And wedding dresses are even more of an emotional element in the wedding than cakes are, so if you don't have any experience I'd be really careful. I have a lot of experience in sewing and have made wedding gowns before, and I wouldn't want to be involved in that category of business. Too much drama.

costumeczar Posted 10 Mar 2011 , 3:31am
post #6 of 8

I'd be very wary too...It's flattering that she would say such nice things about you, but seriously, that out-of-the-blue sales pitch is strange. I think scp1127 is probably right that she's giving the same sales pitch to anyone who will listen.

And wedding dresses are even more of an emotional element in the wedding than cakes are, so if you don't have any experience I'd be really careful. I have a lot of experience in sewing and have made wedding gowns before, and I wouldn't want to be involved in that category of business. Too much drama.

leily Posted 10 Mar 2011 , 3:43am
post #7 of 8
Quote:
Originally Posted by scp1127

PLEASE have an accountant look at the books and you will most likely find a business that is not thriving, unless she is retirement age.




As the others mentioned it sounds like she is trying to get out 1) before it gets to bad b/c she sees where it's going or 2) she's already at that point of it can't go any further so lets get out from under it before anyone else realizes it.
With her coming out of nowhere with the sales pitch just sounds fishy.

I agree with SCP1127 statement for about 98% of business that sell. I only know of one personally that is selling because they are tired of it, they do have a very succesfull business and in a great location but the stress is to much and they have other opportunities that will allow them more time at home with their kids. (completely non-food related)

cabecakes Posted 13 Mar 2011 , 5:20pm
post #8 of 8

Momma always said, "If it sounds to good to be true, run and run fast in the other direction." If this women didn't know you and knows nothing about you, ask yourself, why would she choose you out of all the people in the world to offer her shop to. First off, I would bet my next paycheck that you are not the only person she has made this offer to, and second off, I would bet that the business is not in the good standings that you think it is. You don't get something for nothing...ever.

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