Business Idea-Want your overall feelings about it!

[Anticor]

Originally Posted by PhiSigPhi

I hear ya man. Small business world is rough. But to be honest, I'm a CPA in a Big 4 accounting firm and I work my ass off auditing so I don't see that much difference for me time wise.

It's a different kind of stress/time/work effort. Looking back at what they did compared to what I go through in the corporate world (was global software architect for one of the largest pharma companies now I'm doing main frame fun in a small company and the corporate culture change rocks hard) it's night and day.

I don't want to scare you away from it but I want to make sure you're prepared.

What are your backup plans? What happens if it doesn't work? How much debt are you comfortable with, what kind of investment are you looking at? Etc.

Were it me in this current environment I wouldn't do something like this until I squirrelled enough away that I could start it and if it failed I wouldn't be financially crippled. But that's just me, I'm very conservative with my funds.

[PhiSigPhi]

I'm very aware of all this. I'm a CPA and have an MBA with a concentration in Consulting Worked on a couple of start up companies during my MBA. And with a CPA license with Big 4 experience (currently working on Chrysler), a job is only a phone call away so the risk is really only losing some funds over the long run.

I really appreciate everyone's care and input. That's why I love this forum

I guess the biggest thing I was lookin at from this post was whether people thought the idea is good as you are the type of people who would eat at a place like this msot likely. If I feel I get enough good responses, I'm going to get started on my formal business plan and will present parts of it on here, especially some recipes to try out. But like I said, I have bigger ideas for this than just a mom and pop place. THat will all come in time

As far as the current environment is concerned, I generally agree; however, a lot of very successful businesses have been started during a recession...Microsoft ring a bell? Capital is cheap, property and equipment is cheap, and the threat of excess competition is low. It's just like the stock market, you make the most money from start up stocks that take off, not the blue chip stocks that make a couple of % a year with a small dividend. Another way to look at it: risk=rewards...greater then risks, greater the rewards/loss. I guess I;m a risk taker. But don't expect anything about this for at least another year or 2. I'm not about to rush into it without all my ducks in a row.

[Anticor]

Crap you didn't tell me that you had a MBA, now I have to ask who do you plan on getting to turn on your computer? I kid.


As for interest I think that the iron is hot for a place that can provide real food that's healthy, affordable, and available. If you hit those 3 things, properly marketed, you should have decent success. I would look at options such as meals that are ready to take home heat and eat, take out, dine in. You're going to have a huge market for lunches, I know of several places that thrive off of providing real chow at lunch.

I would also warn you now that once you find your niche stay the heck in it too many places try to branch out too quickly and it kills them (Hi I'm Starbucks my niche is coffee let me start doing food oh crap better close some joints to recover)

[PhiSigPhi]

Yeah no kiddin! Do what you are good at! You know, thats an interesting thing to provide take home meals kind of like your local Super store does (in Michigan its Meijer/Wal Mart). Except mine would be healthy. Thanks for the idea !

Definitely plan on have catering services (I hate when my company caters cause the food is soo ****ty...tastes good though).

Yeah I thikn the biggest thing would be affordability. Available is all about location, healthy not so hard but a bit harder as you want food that tastes great. Marketing...well I have a master plan for that which hopefully you all get to see in a few years.