WE'VE MOVED!

We are proud to announce our NEW community destination. Engage with resident experts and fellow entrepreneurs, and learn everything you need to start your business. Check out the new home of StartupNation Community at startupnation.mn.co

Investors needed for pizza parlor!

madmomma61madmomma61 subscriber Posts: 1
edited August 2007 in Startup Funding
I am new to this and am searching for help as far as finding an investor to help me purchase a pizza parlor. I live in a somewhat small town and this business has gone up for sale. The potential is there but the business itself went down hill after the owners divorced and became disabled. The numbers that they showed me were terrible and no bank would even think of helping me out.

I need some advice and help in this endeavor for I know it will make money. Any suggestions?
· Share on Google+ Share on FacebookShare on Twitter

Comments

  • MNGrillGuyMNGrillGuy subscriber Posts: 2 Member
    Could you lease the building?  As an investor I would want to know a few important things.  How will you differentiate yourself from the competition?  Is the town growing?  Location suitable?  Target market (townsfolk, hwy traffic?)  Seasonality concerns?
    Sounds like an excellent opportunity if in fact the business failed due to operations problems and not other factors.  Best of luck. 
    · Share on Google+ Share on FacebookShare on Twitter
  • robertjrobertj subscriber Posts: 0 Member

     The numbers that they showed me were terrible and no bank would even think of helping me out.
    I need some advice and help in this endeavor for I know it will make money. Any suggestions?

    Since the recent business financial history is "bleak" - I would begin by developing a plan that describes what you will do differently to make the business profitable. You (and any lender) will want to be confident that it will generate enough profit to "service" the debt.
    With a viable plan, you can approach the right capital sources.
    · Share on Google+ Share on FacebookShare on Twitter
  • madmomma61madmomma61 subscriber Posts: 1
    The business is hardly open. As of now they only open on friday nights. We on the other hand would be in their 7 days a week and open from lunch to dinner.
    We have asked the owner regarding leasing the place and they just want out. After looking at the numbers that they submitted to me, the only answers would be to either lease it out or have someone come in with the full amount of cash.
    The business plan that we are currently composing will definitely show that the profit is there and we just need a little backing to prove it.
    · Share on Google+ Share on FacebookShare on Twitter
  • robertjrobertj subscriber Posts: 0 Member
    Who owns the property? Is it part of the sale?
    If not is there a "long term lease in place?
    · Share on Google+ Share on FacebookShare on Twitter
  • madmomma61madmomma61 subscriber Posts: 1
    We are trying to buy the property. The business is included in the sale along with all equipment, etc. The entire sale is worth approx. 300k. I would just about sell my first born for this deal HAHA. The current price is at 239 and we could get them down to 215-220. Again, my only problem is getting the down in order to finance.
    · Share on Google+ Share on FacebookShare on Twitter
  • robertjrobertj subscriber Posts: 0 Member
    We are trying to buy the property. The business is included in the sale along with all equipment, etc. The entire sale is worth approx. 300k. I would just about sell my first born for this deal HAHA. The current price is at 239 and we could get them down to 215-220. Again, my only problem is getting the down in order to finance.
    Based upon the information you`ve given, I`d think you should be able to put together a pretty attractive deal where
    1. Their "investment" is secured by the property and the Pizza business pays the first mortgage.
    2 Use a "lease back" arrangement where they buy the property and lease it to the Pizza business.
     
    · Share on Google+ Share on FacebookShare on Twitter
Sign In or Register to comment.