Ok, I found a building for sale in a quaint little town about 10 miles from me. It is being "played" with now by the owner as a coffe and ice-cream store. It has everything in it. An 8 foot cooled display cake, the 3 compartment sink....everything! The only thing I would have to add is a range. It is the building and everything for sale for a really, really good price! She can't provide me a p&l as she has just dabbled in it for the last few years. I know I can qualify for the building loan. They will finance 85%....she has only opened on weekends from time to time selling ice=cream and coffee and has done well. I want to add cookies and cakes to the business. Anyway, if I can keep my day job for about another year, run this on the weekends and build my business (cakes and cookies) and sell the ice-cream and coffee as well....I may be on my way!

It would make me "legal" and I could advertise a lot more than just the word of mouth thing. I am baking about 5-6 cakes a month now with several weddings. I just think this might be my foot in the door for my business.

I would love some feedback from all of you out there. Those of you who have your own storefront......what can you expect in the first year as far as profit?

I don't have my own storefront...but I have to say go for it!!! I worked for 19 months in a small cake/icecream/candy business...and made tons of ice cream cakes as well as cakes for customers. The only reason I left was no benefits, and the pay was awful.....but the experience was great!

Best wishes!!!

Thanks countrycakes. I hadn't even thought about doing ice-cream cakes as well! Thanks. I just will kick myself if this opportunity gets away from me. I just have to keep my day job a little while longer. I make a really good salary and until I know this business will make it I just can't afford to give up the daytime gig just yet......

It will be hard but, if you have a good attitude, and maybe can hire someone for a few hours to do a Th. fri.Sat. Sun thing you will be well on your way.

Just make sure that you have consistancy. maybe at first Fri through Sunday and let the customers dictate if you need to be open more..

Good luck, keep us posted!

southernbelle opportunities don't come by everyday. I say if you can afford it go for it. Faith is taking a step. I'm sure you know your abilities and know you can do it. To me it would be worth it just to be legal. What a load off your mind then you're free to really solicit business. You'll have to quit that day job before you know it!!!!!!!!!!!!!

I don't want to dampen things, because you sound really excited, but you may want to check out a few things. Why, as a business does she not have a P&L? Surely she had to file taxes or something. Check the building out throughly, have it inspected by a real estate appraiser, you may have to anyway, because the banks usually require it. Check to be sure there are no liens. Hire an attorney. Make sure you get a list of all inventory or equipment she is leaving, and that none of them are on a lease. Talk to other business' around and see if you can really find out some things. Take a week-end and park across the street and count heads going in. Make sure you have the title searched, which the bank will probably want. If the building is attached to other buildings, check for common wall agreements. Check the roof, plumbing, A/C, heat, venting system, termites. Make sure there are no future plans to tear the buildings down, for economic development projects. You can never be too careful when it comes to making a major purchase. Don't accept her, well I just dabbled here and there. Sounds like she may not want you to know exactly what she has done, there may be a little embellishing going on. I think if you are able to check all these things, and they meet your expectations, then I say go for it, and may you have many years of success.

cupcake, you're so on the money with your advice

Thanks cupcake, and you didn't put a damper on anything. I will make sure I check all of those things and I am in the process of doing that right now. As far as any future plans for the building. It is on the historic register in town so I don't think that would be a problem. But I know what you mean about all the other things. I really appreciate your input everyone. Thank you and I will keep you posted on the progress.

TITLE SEARCH!!!

i didn't think that was a big deal.....but to bring the abstract up...it cost me thousands to an attorny the bank hired.

plus check out the businesses on either side...

and what thier clientele is like.

they put in a head shop/sex toy place next door to me....)=

i'm hoping they go out of business before i get the renovation done....but judging by the business they do....i've gone into the wrong line of work!!!! (maybe i could sell thier clients icing and fudge sauce)...

geeze i should chuck it all...and just have them do a reality tv show about my stuggles.

"BAKERY"

The nice thing is that it is totally redone inside and out. It is set up with an 8 ft long cooled display case and has all the appliances and everything and is up to code for the health dept. They have re-done the entire inside and out.....it is basiclly a turn=key operation. Let me see if I can upload a picture of the inside.

Here is a picture of the front

WOW that is a very nice place!! if everything goes well, go for it!

good luck!!

Wow, it's so cute! I'm drooling here...completely envious (in a good way) I hope it works out!

littlecake,

Have you ever done naughty cakes? You might want to think about capitolizing on your interesting neighbors clients... Of course if you feel uncomfortable making naughty cakes then that would be a non-issue. But don't get discourged......your fudge sauce and whipped icing idea wasn't to far fetched. You might want to think about the positves instead of the negatives. You might sell a boat load of naughty cakes.....and you can charge more for those than a regular cake.

Here is another picture

You MUST get a CERTIFIED tax return on the business! The sale price is contingent on that. Don't let them snowball you into a line, such as, "Well, it really does more business but we don't claim all the income." Don't buy that line!
Perhaps the "naughty" store nextdoor could be a lead-in for "naughty" cakes, if you don't object to those types of cakes.
Also, if you're just using the place part-time, you can rent it out to other bakers/caterers when you don't need it. That could help with the payment.

WHAT A CUTE PLACE!!!!

i do "pg 13" cakes...thats about as naughty as i get....ha ha....

my son says...if its a head shop...maybe they'll have the munchies...and want some cupcakes....ha ha ha

I was so excited for you, totally forgot about all that legal stuff! I wish you the very best....and it is a cute place.....you could make it work, with your talents. Best of luck in your choice........

southernbelle--

Also another thought...I work with a chef that used to do only private cooking for clients and catering. He used to rent a kitchen (don't know how much), but last year bought his own bistro-style restaurant.

He told me that when he rented a kitchen, if he did a dinner for $500, he made about $400 profit. Now if he does a dinner for $500, he may only make $50 because of the overhead. Something to think about.

On another note, I think that place is so cute, but I agree with everyone else...CYA...check the weekend traffic, definitely find out P&L...she should have that in her tax return, and talk with other businesses in the area.