So Excited, Looking At Storefronts!

Business By ElizabethsCakeCreations Updated 18 Jun 2016 , 11:13pm by ElizabethsCakeCreations

ElizabethsCakeCreations Posted 18 Jun 2016 , 8:53am
post #1 of 11

I've looked at 2 so far, both are too big. The first used to be a sub shop but all the equipment was gone even though I told them I needed a place with it included they thought, why not waste everyone's time? Too bad it was pretty.

The second place had all  the equipment except a dishwasher :-( but it had a pizza oven, so I could probably trade it in. It even had a refrigerated display case! Problem is it's too expensive and it's really run down. 

I can handle the monthly bills but I have almost nothing for startup. It's a way to protect my house, I still have a separate income for 14 months to pay my personal rent and feed my kids. 

It's so awesome, I'm even starting a free course next week to help me write my business plan. What's cool is a lot of places will give up to 3 months free for setup. :-)

Scary part? They expect me to open in the fall. Here's hoping I find a place! Wish me luck, I'm going to need it! :-)

10 replies
-K8memphis Posted 18 Jun 2016 , 10:43am
post #2 of 11

when you do your business plan you will have a market study done -- it's not free -- it's very important -- it tells you from a neutral perspective how likely you are to succeed and what the market will bear -- tells you exactly what type of business will work best --

for example right out the gate here -- you decide when you open not the new landlord --

and most new businesses build out themselves -- there are turnkey operations but obviously not that many --

if you have nothing for start up then you're gonna eat up that 14 month rent and food money like it was Halloween candy --

it's not at all like working from home -- you need to work hard on your business plan and come up with some serious start up cash as well as operating expenses for 18 to 24 months for your home and for your business -- you are sounding premature here -- your business plan will reveal this to you --

best of luck to you

ElizabethsCakeCreations Posted 18 Jun 2016 , 10:49am
post #3 of 11

My house bills are paid monthly. And I will not sacrifice my home for this dream.

I have the majority of what I need already. There's only about a $1000 worth of ordering to do.

It's not the landlord that's expecting me to open it's the people who I'm going through for startup. It's part of the condition of the loan.

Thanks for the advice!

-K8memphis Posted 18 Jun 2016 , 12:40pm
post #4 of 11

you're welcome -- so you'll have your house & food expenses covered -- then you'll need to generate $1000 start up funds, monthly overhead, loan payment and funds to continue buying supplies -- good luck --

are you going to have employees?

-K8memphis Posted 18 Jun 2016 , 12:43pm
post #5 of 11

what's the loan for if it's not for build out or equipment or start up? 

ElizabethsCakeCreations Posted 18 Jun 2016 , 1:06pm
post #6 of 11

It's to pay rent. It's $5000

-K8memphis Posted 18 Jun 2016 , 2:39pm
post #7 of 11

when you do your business plan they will hopefully have you determine your 'break even amount' -- the amount of money you need to generate every month in order to (obviously) break even and not go in the red -- then you will translate that into how much product you need to sell in order to hit that number monthly --

i mean maybe you already did that but it's quite a lot of product to sell in order to do all that and you'll need employees, one person can't do that alone so you'll have payroll to meet too --

Natka81 Posted 18 Jun 2016 , 4:20pm
post #8 of 11

Maybe it's not good idea to  borrow money to pay monthly  $5,000.00 rent, but if they are giving you a loan,  they probably know what they are doing.  

Payroll is expensive! 

You will probably need to sell $ 10,000.00-$15,000.00 worth of stuff.

I don't own a bakery,  but doing my husband's business bookkeeping, OH my,Oh my all those taxes snd insurances!

ElizabethsCakeCreations Posted 18 Jun 2016 , 5:29pm
post #9 of 11

$5000 is for startup however I want but rent will up to $2500 max but I have to pay first and last.

ElizabethsCakeCreations Posted 18 Jun 2016 , 5:29pm
post #10 of 11

$5000 is for startup however I want but rent will up to $2500 max but I have to pay first and last.

ElizabethsCakeCreations Posted 18 Jun 2016 , 11:13pm
post #11 of 11

I've got 2 wonderful people to help me get started until I can afford help.

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