You can see more info here.
https://www.zerodegreescompany.com/franchiseOpening in Houston where people waited for over 1 hr.
https://www.youtube.com/watch?v=mtOIR7oTV3YThis franchise is located in Orlando. Belongs to a friend of mine.
When it first opened, the lines were long too, just not as long as Houston LOL.
She put in around $300k into the restaurant. Everything inside is pretty much new.
Just talked to her and she is willing to sell it to us for $130k + $5000 franchise transfer fee . We want to offer $120k.
My wife is really excited about running a small business(it's her lifelong dream). I'm 50/50.
I've been laid-off so I'm doing nothing although I might be recalled by June. My wife hates her job and is planning to quit around March/April.
Our NW is hovering around $1,130,000.
Our original plan was to take a few years off and travel and such. We would stay out as long as out NW stays above $1 million. If it dips below, we might go back to work. I figured worst case we could stay out for 2 yrs.
The restaurant opened mid 2018. It was packed. Lines outside the door. I don't know what sales they had but I know this was their best half year.
2019. Sales around $430k. She spent little time at the restaurant. Did not take a salary. Netted around $50k. Probably more cause she took money here and there but $50k was what on the books.
2020. Pandemic. Had to close for 2.5 months. Sales to Oct is only $200k. Small loss according to the books but maybe just broke even.
This franchise has a lot of potential. Sales in 2019 is pretty average and even at that figure I can streamline some stuff and make more than the $50k she reported.
2021. I'm estimating sales maybe around $350k. At this figure, I think I can eek out a small profit.
I was in the McDonalds business for yrs and GM for >5 yrs so I know how to run a quick service restaurant.
Like I was saying, I'm 50/50. I have never had a small business before. My wife have had many small businesses but only in her native country which is why she loves the idea.
Basically instead of spending our next 2+yrs traveling and enjoying ourselves, we would spend that amount of time devoted to the restaurant.
If it does come into fruition I would only offer the max of $120k vs her $130k.
Love to hear what some of of you guys who have had experience in small business think.
Have to make a decision by Sunday.
YAY or NAY ?