"Building a Tiki Experience - What's important, and how to do it?" - General Tiki

OGR Or Got Rum? Tiki Socialite Wisconsin Joined: Jul 29, 2009 Posts: 726	OGR Or Got Rum? Posted posted on Sun, Mar 12, 2017 10:03 AM As Skip Said (BTW, If you pull the trigger-His lights are the BEST) I also am not trying to be a cramp, I just have experienced the emotional and FINANCIAL pain of Business and unforeseen circumstances. In my first private venture I had a partner and things got snagged when we had a deal to buy all the equip (hoods +++) in place...good price. Lease was on a 6500 sq ft restaurant/ bar in a historic landmark location. When 1 of the owners of the equip went into a bankruptcy we could not complete the deal until that was settled. One month turned into 13 and I was personally down 165000+ before we opened the doors or could apply for the liquor license. Plus my partner's money was not appearing as it was stated to and it cost me $ to get him out. You also need a REAL projected P & L and a complete separate costing of the menu...then you can apply the sales mix for the theoretical costs. The things that will get you is say...Mugs...sure wholesale they are 5.95 each for example. Well, you will need a set up fee for artwork/logos and then pay for a minimum of 100...so @ 700.00 up front for 1 logo-ed mug. Of course this is an example, but these are the things that come at you hard and fast. I wish you well and am just trying to bust the myth that it's an easy cool business and passion will carry you across the line. Keep us all abreast of the progress.

As Skip Said (BTW, If you pull the trigger-His lights are the BEST) I also am not trying to be a cramp, I just have experienced the emotional and FINANCIAL pain of Business and unforeseen circumstances.

In my first private venture I had a partner and things got snagged when we had a deal to buy all the equip (hoods +++) in place...good price. Lease was on a 6500 sq ft restaurant/ bar in a historic landmark location. When 1 of the owners of the equip went into a bankruptcy we could not complete the deal until that was settled. One month turned into 13 and I was personally down 165000+ before we opened the doors or could apply for the liquor license. Plus my partner's money was not appearing as it was stated to and it cost me $ to get him out.

You also need a REAL projected P & L and a complete separate costing of the menu...then you can apply the sales mix for the theoretical costs. The things that will get you is say...Mugs...sure wholesale they are 5.95 each for example. Well, you will need a set up fee for artwork/logos and then pay for a minimum of 100...so @ 700.00 up front for 1 logo-ed mug. Of course this is an example, but these are the things that come at you hard and fast.

I wish you well and am just trying to bust the myth that it's an easy cool business and passion will carry you across the line. Keep us all abreast of the progress.

Post #773967 by Or Got Rum? on Sun, Mar 12, 2017 10:03 AM