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post #61 of 78
Thread Starter 
Quote:
Originally Posted by BatterUpCake View Post

So what you bought was the equipment and location lease? I bet your name was better anyhow! lol

I worked for the last company, and when he was thinking of selling this location (should have taken that as a red flag) He offered it to me. I figured I was already working there 50 hours a week, and was the only employee, thats I was set to go. But he left things a mess as well.

 

I think my name was better ;)

post #62 of 78
Thread Starter 

We have to figure out the lease (do we sell it as well) and paying off the old owner, we were on a payment plan with him.

 

If we really need to, the corporation can go bankrupt. But I am hoping to stay away from that.

 

I put my heart and soul into this, but I learned thats not it. I have some business learning, and this was much different then my farmers market booth. I look forward to learning and trying again in the future!

post #63 of 78
Thread Starter 

instead of "fighting for it) how can I prove the odds wrong? 

 

ideas for promotions? is there any way to fix time, to show him it would be ok?

 

 

I have come to terms wit hthe possiblility of losing it, but just wanted to see what you guys say

post #64 of 78

I have no idea, but I did watch on Kitchen Nightmares that they take the food to the street, and give people a try. I hate mini cupcakes, because they always seem dry to me, but maybe you could find a way to get some very small samples into hands, to get them to come buy a cupcake? 

 

Did you have a grand re-opening, or anything? 

Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
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Beginners, be sure to parrot advice and get your post count up as fast as you can. After all, it's not what you know, it's what people THINK you know.
Reply
post #65 of 78
Thread Starter 

I was planning on a grand re-opening in september. When people around here are back from holidays

post #66 of 78
Quote:
Originally Posted by motherofgrace View Post

instead of "fighting for it) how can I prove the odds wrong? 

ideas for promotions? is there any way to fix time, to show him it would be ok?

What has your monthly net income (or net loss) been for the three months your business has been open? How much less revenue do you foresee over the summer?
post #67 of 78

I'm with Annabakescakes, when you took over the business, did you do something to let people know that the business is under new ownership? How long until you have to close the doors. Anna reminded me of a conference I had to go to for work, on the way home a co-worker (we carpooled) insisted we stop at this chocolate store. I am not a big fan of chocolate at all, but as soon as we walked in they handed us fresh pieces of fudge. I ended up spending $50.00 in that store! I honestly feel that it was the initial push of that fudge that made me stop and look at other things they had in the store. I don't know how your store is set up, if you are able to do something like that and maybe offer a discount on a half dozen cupcakes.

 

Sorry if I seem to be rambling, when I start brainstorming, that is exactly what happens.

post #68 of 78
Thread Starter 

 no no, thank you! if anything I will use it for later. You guys have been great!

post #69 of 78
Thread Starter 

Part of my new plan is getting down my rent. Where I am moving, there is a prime location 3 times bigger then my current, for $650 a month.

 

right now I pay $1800 a month for 250 sqft

 

Is this right?

 

 

Jason, would you mind sending me a link you think is good for writing a buisness plan for a bake and candy shop?

post #70 of 78

That seems very wrong - over $86 per s.f., per year?  Does that include utilities, maintenance, etc.?

 

Granted I live in a rural state, but rents in the ritziest shopping mall in our capital (over 1 million ppl) run $30 to 40 s.f., and that is with TONS of traffic, all day and night!

 

Seems like your old boss may have really tried to rip you off.

 

Liz
 

Follow me on my Twitter handle: @Sugar_Iowa

Or on Facebook: https://www.facebook.com/SugarFineBakedGoodsAndConfections

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Follow me on my Twitter handle: @Sugar_Iowa

Or on Facebook: https://www.facebook.com/SugarFineBakedGoodsAndConfections

Reply
post #71 of 78
Quote:
Originally Posted by motherofgrace View Post

Part of my new plan is getting down my rent. Where I am moving, there is a prime location 3 times bigger then my current, for $650 a month.

right now I pay $1800 a month for 250 sqft

Is this right?

Generally commercial real estate is priced based on traffic, visibility, and access, as well as the demographics of the local market. I can't speak to your current or future location since I have no information about either, but considering your current property rents for over 8 times what the new property will rent for, you are either paying way too much for your current location or the new location is not as desirable as you think. Or both.
Quote:
Jason, would you mind sending me a link you think is good for writing a buisness plan for a bake and candy shop?

Bplans is a good place to start, it will probably take you at least a month or so to put together a solid business plan.
http://www.bplans.com/
post #72 of 78
I just thought I would share my story (a brief version) my mother, and fiancé were less than supportive about my career choice. My mother rightfully so (I guess) because she paid for me to go to college out of pocket. I had no student loans or anything. So even with a 4 yr degree I decided to this for a career. The only ppl who thought it was a good idea was my dad and sister. So before I graduated I started with a business plan. Things are great now in 2-4 years hopefully a storefront.


Just saying this to say you don't need ppl to necessarily BELIEVE. (Although I know it's your husband so the dynamic is different). A good plan will carry you through!!! Don't start up a minute before that plan is done. It's soo tempting to jump in without a solid plan. It's not worth it to take the chance.
post #73 of 78
Not sure where you are but TLC is advertising for bakeries that need help for a new show on my local Craigslist, maybe you can check it out?
elsewhere.
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elsewhere.
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post #74 of 78
Quote:
Originally Posted by liz at sugar View Post

That seems very wrong - over $86 per s.f., per year?  Does that include utilities, maintenance, etc.?

Granted I live in a rural state, but rents in the ritziest shopping mall in our capital (over 1 million ppl) run $30 to 40 s.f., and that is with TONS of traffic, all day and night!

$30-40/sf/year is also roughly the going rate in downtown areas in Orange County, CA.

I would be curious to know how much other people are paying for retail space in your area. A commercial real estate agent should be able to help you with comps if you don't know how to do this research on your own.
post #75 of 78
Quote:
Originally Posted by kikiandkyle View Post

Not sure where you are but TLC is advertising for bakeries that need help for a new show on my local Craigslist, maybe you can check it out?

http://www.tlc.com/tv-shows/bakery-boss

OP certainly has enough drama to make for an interesting story.
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