I Am Having An Anxiety Attack!!!!!!
Business By snarkybaker Updated 8 Jun 2007 , 7:11am by CoutureCake
My husband has it in his head that we need to open a patisserie/gelateria. He sees how much we charge at the restaurant and is convinced we're missing business.
I am okay with that, and I even have friends who are willing to be investors. DH refuses. He wants total control. With 95% of small businesses failing, I thought not absorbing all of the risk was a great idea.
This is no small undertaking. To rehab the building we are looking at, it's 30-40 thousand dollars, plus about 80 thousand in equipment.
That's a lot of gelato to scoop and cookies to sell and I am freaking out. 
Is he right ? Is having colpete control worth the extra 75 thousand?
If you can handle the extra $75K... YES. I would not want anyone else to control my business. Sometimes when things would get stressful I think about it... but then I kick myself and think am I crazy. No control!! That is what keeps us going!
mpc
Yes, total control is the best thing. However, make sure you work out a REALISTIC business plan (if you or your husband haven't done so already). If the business plan says you can do it, you can! If it says you can't then maybe y'all need to explore other options.
If one party isn't ready BOTH aren't when it comes to marriages...
The thing is, do the market research for your area to find out if there even is a market for it. Yes, the restaurant charges a lot for it, but there also is a lot of expense associated with it.
I agree with the PP that the best thing you can do for yourselves is to do up a STRONG and most of all realistic business plan and a marketing plan. Also, realistically how long can you survive on no paycheck working for 80 hours a week and very few weekends off? One blessing about being in business is that you get to choose the 80 hours per week you get to work.
Yes, having complete control over your investment is the way to go. HOWEVER, that just isn't realistic in most circumstances. Also, owning the property is also going to make a huge difference instead of renting because once you've got the food equipment put in there, they'll likely raise your lease when it comes due and you're pretty well stuck there. By owning it, you have complete control over the building itself.
Be realistic about what the expenses are for owning a business. Things like insurance (business, personal, health, life, vehicle, workman's comp, etc.), staff wages, rent, licensures, inspections, equipment maintenance, work vehicle, NSF everything, etc. etc. etc.
Most of all, good luck with everything. I also have to say it helps to purchase some things as you go (like NSF shelving), because it isn't as painful to write out small checks here and there as it is to have to write out bigger checks all at once.
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