Stay or Go?

Author
2 Girls BBQ
Junior Burger
  • Total Posts : 4
  • Joined: 2014/01/25 17:13:00
  • Location: Destin, FL
  • Status: offline
2014/04/04 00:34:11 (permalink)

Stay or Go?

I have recently purchased a great hot dog cart. I was funded the money by a local bar owner and agreed in return to set up at his bar at night and repay the loan over a 4 month period.My problem is that it hasn't been that busy and there is very little foot traffic. There Is A Much Better Location That would charge me rent, but I wouldn't be worried about making money and paying back the loan. I don't know how to proceed. Good suggestions would be appreciated.
#1

3 Replies Related Threads

    Foodbme
    Porterhouse
    • Total Posts : 10080
    • Joined: 2006/09/01 14:56:00
    • Location: Gilbert, AZ
    • Status: offline
    Re:Stay or Go? 2014/04/04 00:50:21 (permalink)
    Since you're in Destin, your selling season is about to hit. You need to be in the place where you can make the most money to pay off the loan before September. After Labor Day your visitor traffic disappears and so does your revenue.
    Questions:
    1. What's more important to the bar owner - Getting paid back or just having some food available to customers?
    2. Would the other location be a day or night location?
    3. Are they close to each other?
    4. Is it possible to split time between both locations?
    5. What makes you think the other location would be better?
    6. Why didn't you discuss this with the Loaner before you accepted the money?
    7. Will he give you longer terms than 4 months?
    8. Does his business depend on Summer visitors and what % of his business does he do between May & September?
    9. What happens if you can't pay him back in 4 months? Does he take the cart?
    10. Is any of your deal in writing and is it enforceable?
    11. Lots more questions.
    Sounds like you jumped into this before thinking everything thru thoroughly.
     
    #2
    2 Girls BBQ
    Junior Burger
    • Total Posts : 4
    • Joined: 2014/01/25 17:13:00
    • Location: Destin, FL
    • Status: offline
    Re:Stay or Go? 2014/04/13 01:11:48 (permalink)
    You are right about a few things. I was so eager to get funded that I didn't ask enough questions. The season is now here in Destin. I believe I have figured out that I can work at both locations to satisfy the bar owner and pay him back in a timely manner as well as making a decent living for me at the better location. Hard work, but it will be worth it.
    #3
    Foodbme
    Porterhouse
    • Total Posts : 10080
    • Joined: 2006/09/01 14:56:00
    • Location: Gilbert, AZ
    • Status: offline
    Re:Stay or Go? 2014/04/13 03:07:41 (permalink)
    Go get 'em Girls!
    What most people don't realize is that the busy season in the Panhandle is Summer as opposed to Winter in South FL.
    The Redneck Riviera Rocks in Summer!
    #4
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