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Author Topic: Buy restaurant in Florida  (Read 594 times)

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Offline milos1307

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Buy restaurant in Florida
« on: August 29, 2022, 01:02:36 AM »
Hi to everybody,
I plan to move to Florida next year with my family and buy  pizza restaurant there.I have no experience with restaurants but my wife worked for 12 years at a pizza restaurant.
Our plan is to sell everything we own in New York and invest in a restaurant .
We're aware it's a big risk but living in NEW YORK has become too difficult and dangerous.We can invest in a restaurant The most 200K

I'd like to hear from the experienced pizza owners on what we should pay attention to when shopping?
If we invest 200k how much annual gross  sale  should be in that restaurant?
Any advice would help us


Online Pizza_Not_War

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Re: Buy restaurant in Florida
« Reply #1 on: August 29, 2022, 01:47:37 AM »
Based on the info you provided you are nowhere near ready to be purchasing a business. For example, you can own a business with 50 million dollars in gross sales but zero profit. You need some financial/accounting knowledge and restaurant operation knowledge.

You would be better served working in a pizza restaurant with an owner near retirement who would be willing to sell to you at some point in the future.


Offline TXCraig1

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Re: Buy restaurant in Florida
« Reply #2 on: August 29, 2022, 10:37:34 AM »
I agree. From your comments, it sound like the last thing you should do with your savings is buy a restaurant. Here's another plan: move to Florida and give the $200K to charity. You'll end up in the same place (broke), but at least the money will do some good.
"We make great pizza, with sourdough when we can, baker's yeast when we must, but always great pizza."  
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Offline Jimbolini

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Re: Buy restaurant in Florida
« Reply #3 on: August 31, 2022, 03:26:01 AM »
Not much info here.

200k is not a ton for a Florida spot. (Not sure what sqft rates there are)


Need a lot more info regarding your plan.

Lots of info here if you search.

Offline caymus

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Re: Buy restaurant in Florida
« Reply #4 on: August 31, 2022, 04:11:00 AM »
How much is a franchise?

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Offline Jackitup

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Re: Buy restaurant in Florida
« Reply #5 on: August 31, 2022, 01:54:59 PM »
In the next year, if your serious, take some restaurant/business management courses, and talk to some business advisors ect before you do anything! In other words, learn all facets of how to pack your own chute BEFORE you jump!!!
Jon

“The two most important days in your life are the day you are born and the day you find out why.”-----------Mark Twain

"If you don't think you're getting what you should out of life.....maybe you're getting what you deserve."---------The Root Beer Lady

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Offline Puzzolento

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Re: Buy restaurant in Florida
« Reply #6 on: August 31, 2022, 03:19:52 PM »
It's hard to think of anything worse than putting your life savings into a restaurant. About 80% of restaurants fold within the first five years, and 60% don't make it past the first year.

If you're determined, stay away from Marion County. The pizza here is great. You don't want strong competition.

Miami's pizza is horrible, but then so is Miami, so I don't recommend moving there, either.
The man's job is to make decisions. The woman's job is to criticize them.

Sicilian pizza is Godzilla. Thin pizza is Japan.

Offline Puzzolento

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Re: Buy restaurant in Florida
« Reply #7 on: August 31, 2022, 03:27:22 PM »
Well, this is interesting. Forbes says the rate of restaurant is much lower and tied to restaurant size. So SMALL restaurants are more likely to fail than big ones.
The man's job is to make decisions. The woman's job is to criticize them.

Sicilian pizza is Godzilla. Thin pizza is Japan.

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