Tell Me About Your Small Bizness (Wooly's Shark Tank)

[BobbyMac]

Thanks, umm........ bud.

 

[zelezo vlk]

Always wanted to own a bar called Rehab. No lie.

Bar names are easy to think up. Ex: The Fat Doorman. Fish Sticks. Bar.

 

[Bluto]

That's what i'm talking about. Great info, dude.

How's the restaurant going? Where are you located?

I thought about a donut shop before. My town had one when I grew up that was pretty successful. They retired and moved to Florida, now their location is a cafe. We have zero donut shops in my area. My fear was the large capital investment in a business that guarantees me no time off and 4am start times. Plus, I have never made a donut.

The restaurant is doing great. It's located in San Francisco and just celebrated 14 years of being in business. It's a fairly well oiled machine at this point and my wife doesn't work nearly as much as most other people we know in the business. Might look at expanding number of locations once the kid is out of the house.

 

[tussin]

My restaurant idea:

In college (I went to school in PA), everyone I met from out of state was obsessed with Sheetz / Wawa. They couldn't get over how awesome and convenient the MTO model was and they all complained how there was nothing like it in the mid-west or west coast. So my idea is basically to take that concept and duplicate it in Colorado or something.

 

[Irish Insanity]

Bar names are easy to think up. Ex: The Fat Doorman. Fish Sticks. Bar.

Yes they are. But that one's always stuck with me.

 

[woolybug25]

My donut shop could be called, "Hurts Donut".

Get it...

 

[ACamp1900]

Always wanted to own a bar called Rehab. No lie.

I have my idea for a winery called Gigantic Cock Wines (with a picture of a giant rooster on it) and my wife and I always joke about moving out to like Montana or North Dakota or somewhere super un-ethnic and opening up a Mexican Joint with a random offensive Spanish name and a slogan like "No nos lavamos las manos después de usar el baño"

 

[woolybug25]

My donut shop could be called, "Hurts Donut".

Get it...

 

[woolybug25]

The restaurant is doing great. It's located in San Francisco and just celebrated 14 years of being in business. It's a fairly well oiled machine at this point and my wife doesn't work nearly as much as most other people we know in the business. Might look at expaninding number of locations once the kid is out of the house.

Congrats dude! Must be really cool to be part of something like that.

I'll look you up next time i'm in the area.

 

[tussin]

Why is that exactly? I mean, there are a lot of really successful franchisee's that own a bunch of locations. I get that the franchise gives you build out assistance, signage, etc. But the franchisee still pays for those items. They provide access to their food distribution, but the franchisee still pays for it.

Seems like the only thing that a franchise offers after the initial buildout is marketing support. Which itself has a tipping point. A dunkin' donuts can never get more niche without nationally becoming more niche. Seems like it would be easier to market an independent once it had community exposure.

What's the other advantages?

I meant that as a small business owner it's hard to scale your original concept unless you franchise it out to franchisees. I completely agree with everything you said regarding the franchisee side of things.

 

[zelezo vlk]

I have my idea for a winery called Gigantic Cock Wines (with a picture of a giant rooster on it) and my wife and I always joke about moving out to like Montana or North Dakota or somewhere super un-ethnic and opening up a Mexican Joint with a random offensive Spanish name and a slogan like "No nos lavamos las manos después de usar el baño"

I request that you use Sangiovese grapes.

 

[Veritate Duce Progredi]

I'm working on developing a brand in a niche market. It's true value lies in the hand made aspect. The difficulty is that I don't want to just start showing what I've built/created until I have a proper strategy and the "critical" number of photos/videos to put out there to keep people intrigued.

I don't want to be a mass producer of anything so the value comes both in scarcity and relative originality of the product. The difficult part is knowing when to pull the trigger.

I've been going back and forth about creating videos in the shop, to show a "highlight" reel of the production. My branding also needs some serious work. I'm working on Logo development and then I'll move to building a webpage.

A huge piece of the puzzle is marketing. The only rough ideas that succeed are true brilliant pieces of innovation. I don't expect to be brilliant so I think having an idea, developing it and preparing a brand strategy is HUGE for the success of the product.

That isn't to take the focus away from the product itself or the producing of the product, which is what I enjoy the most but it's a reality of many brands I've tracked over the last decade.

Probably not what you are looking for so here's my advice:

Open a Chik-fil-a, those places are packed everywhere

 

[woolybug25]

I'm working on developing a brand in a niche market. It's true value lies in the hand made aspect. The difficulty is that I don't want to just start showing what I've built/created until I have a proper strategy and the "critical" number of photos/videos to put out there to keep people intrigued.

I don't want to be a mass producer of anything so the value comes both in scarcity and relative originality of the product. The difficult part is knowing when to pull the trigger.

I've been going back and forth about creating videos in the shop, to show a "highlight" reel of the production. My branding also needs some serious work. I'm working on Logo development and then I'll move to building a webpage.

A huge piece of the puzzle is marketing. The only rough ideas that succeed are true brilliant pieces of innovation. I don't expect to be brilliant so I think having an idea, developing it and preparing a brand strategy is HUGE for the success of the product.

That isn't to take the focus away from the product itself or the producing of the product, which is what I enjoy the most but it's a reality of many brands I've tracked over the last decade.

What's the target market? That will have a lot to do with your marketing. Without knowing the type of product you're making, I would say that you're onto something with videos of the process. Handmade craftsmen sometimes get too caught up with letting people know their process. But the thing is, if it's truly handcrafted, the value is in the process. Do a timelapse of the creation of your product and set it to some good tunes. Plaster it on facebook, email blasts, etc. Show people that your product is truly made with passion behind it. That is compelling to people who truly care about handcrafted products.

Plus... if someone wants to replicate your idea. They will still have to do the hard work. The only difference is they aren't original at that point.

Make sure you have your ducks in a row before that though. Have product market-ready and have all of the other business background (Insurance, Biz FedID, LLC, etc) done at the time of marketing. That way, you can follow your marketing with the actual product.

Probably not what you are looking for so here's my advice:

Open a Chik-fil-a, those places are packed everywhere

No kidding.

 

[Bluto]

Congrats dude! Must be really cool to be part of something like that.

I'll look you up next time i'm in the area.

It has it's perks. By all means send me a message.

 

[Bluto]

My donut shop could be called, "Hurts Donut".

Get it...

The craft donut and or ice cream thing is kind of a big deal in Cali and NY. Could see it migrating to other areas eventually ala the micro brew explosion.

 

[BobbyMac]

The craft donut and or ice cream thing is kind of a big deal in Cali and NY. Could see it migrating to other areas eventually ala the micro brew explosion.

If all consumers had my taste.... Sprinkles Cupcakes would surpass Google in revenue by 2016.

 

[phgreek]

My restaurant idea:

In college (I went to school in PA), everyone I met from out of state was obsessed with Sheetz / Wawa. They couldn't get over how awesome and convenient the MTO model was and they all complained how there was nothing like it in the mid-west or west coast. So my idea is basically to take that concept and duplicate it in Colorado or something.

I lived on Sheetz in college. Out here (Wyoming, Idaho, Utah) the combination of Maverik Markets and embedded subways in truck stops kinda has that covered to some degree. Don't know about Nebraska and eastward.

 

[NDBoiler]

I've found a lot of success with this simple 3 phase business model:

Phase 1 - Collect underpants
Phase 2 - ?
Phase 3 - Profit

I'm fine with any of you entrepreneurs borrowing it, just make sure you pay it forward.

 

[BobbyMac]

I've found a lot of success with this simple 3 phase business model:

Phase 1 - Collect underpants
Phase 2 - ?
Phase 3 - Profit

I'm fine with any of you entrepreneurs borrowing it, just make sure you pay it forward.

Piper from Orange is the New Black is dominating your space. You better look to diversify immediately.

.

 

[Fbolt]

I have put efforts into starting a business with a coworker when I retire-no details I can pass along but the nice thing is that's it's not a manufactured product. Essentially leveraging my expertise for commercial and government entities. Working on it.

 

[Buster Bluth]

I've always wanted to open a place next to Ohio State on High Street and sell to the droves a walking students. Too many kids are spending $11 for lunch at a god damn Pita Pit when they could be stopping at Buster's place for some bomb-ass (the technical term) lunch that is way better, way cheaper and way faster. Superior in every aspect.

There's a place in Toledo that some Mexican immigrants opened that is insanely good and cheap. San Marcos. They sell authentic tacos for like $1.50. You can spend like $6 and get wayyyyy better food than the chains on High Street:

But wait, there's more, there's also so much great street food in Asia. Vietnamese is my favorite cuisine. You get the Asian influence (durr), but it's tropical so there's all kinds of spices and such that you don't get with Cantonese or Korean, plus there's the French influence from the colonization that basically just makes their cuisine the shit. It's certifiable.

How am I going to do it? Well, my sister went to the Culinary Institute of America and chose to be an organic farmer doing CSAs and farmers' markets, so I need to convince he to quit her life and do this instead. haha

Basically it's cheap and amazing Mexican and Asian street food. I want to call it Juanton. Yes I think about this a lot when I'm high.

 

[BobbyMac]

I've always wanted to open a place next to Ohio State on High Street and sell to the droves a walking students. Too many kids are spending $11 for lunch at a god damn Pita Pit when they could be stopping at Buster's place for some bomb-ass (the technical term) lunch that is way better, way cheaper and way faster. Superior in every aspect.

There's a place in Toledo that some Mexican immigrants opened that is insanely good and cheap. San Marcos. They sell authentic tacos for like $1.50. You can spend like $6 and get wayyyyy better food than the chains on High Street:

But wait, there's more, there's also so much great street food in Asia. Vietnamese is my favorite cuisine. You get the Asian influence (durr), but it's tropical so there's all kinds of spices and such that you don't get with Cantonese or Korean, plus there's the French influence from the colonization that basically just makes their cuisine the shit. It's certifiable.

How am I going to do it? Well, my sister went to the Culinary Institute of America and chose to be an organic farmer doing CSAs and farmers' markets, so I need to convince he to quit her life and do this instead. haha

Basically it's cheap and amazing Mexican and Asian street food. I want to call it Juanton. Yes I think about this a lot when I'm high.

I invented Juanton's Chinese Taco's when I was in high school. Today they call 'em lettuce wraps. Chicks dug them back in the early 80's too.

.

 

[NDdomer2]

My restaurant idea:

In college (I went to school in PA), everyone I met from out of state was obsessed with Sheetz / Wawa. They couldn't get over how awesome and convenient the MTO model was and they all complained how there was nothing like it in the mid-west or west coast. So my idea is basically to take that concept and duplicate it in Colorado or something.

My wife is from PA. First time we went to go visit her family I went to a sheetz. (After some smoking might I add) I thought it was the greatest thing. If I were ever to own a business it would def be a sheetz gas station in IN.

 

[GEORGIA DOMER]

Man to sit around and drink some beers type convo. Good luck in whatever you do. I hope to open a paint and body shop. I sell paint and can do the work. With four kids I have selected the safest path. But I dream big! I do believe it's a roll of the dice.

 

[Bluto]

I've always wanted to open a place next to Ohio State on High Street and sell to the droves a walking students. Too many kids are spending $11 for lunch at a god damn Pita Pit when they could be stopping at Buster's place for some bomb-ass (the technical term) lunch that is way better, way cheaper and way faster. Superior in every aspect.

There's a place in Toledo that some Mexican immigrants opened that is insanely good and cheap. San Marcos. They sell authentic tacos for like $1.50. You can spend like $6 and get wayyyyy better food than the chains on High Street:

But wait, there's more, there's also so much great street food in Asia. Vietnamese is my favorite cuisine. You get the Asian influence (durr), but it's tropical so there's all kinds of spices and such that you don't get with Cantonese or Korean, plus there's the French influence from the colonization that basically just makes their cuisine the shit. It's certifiable.

How am I going to do it? Well, my sister went to the Culinary Institute of America and chose to be an organic farmer doing CSAs and farmers' markets, so I need to convince he to quit her life and do this instead. haha

Basically it's cheap and amazing Mexican and Asian street food. I want to call it Juanton. Yes I think about this a lot when I'm high.

The price points on Mexican food are some of the best in the business too because it's mostly rice, beans and cheaper cuts of meat. Avoiding table service and having beer and wine increase profit margins big time as well. I would say the Mexican place (if done right) has more money making potential (could easily see it doing a million a year in sales). I remember when a taqueria first opened up in San Luis Obispo near Cal Poly. They killed it from the word go.

 

[ND NYC]

re: opening a restaurant:

"i'm saying if I were your accountant...I would advise against it"

-Jonathan "The Duke" Mardukis
Midnight Run
Train scene with bounty hunter Jack Walsh

 

[Irish#1]

Going to use past tense because I started two businesses that no longer exist

- What's was your business?

1. High end landscape maintenance and Construction.
2. Construction Management and Construction Data Management for publically funded habitat restoration projects and consulting arborist services. Did some private residential design/build stuff but not much.

- How did you come up with the idea?

1. I was working at the company and the Boss was retiring and he approached me about buying it.
2. The President of the company I was working for turned me on to the Federal 8 A program and I set up that company to try to gain SBA 8 A certification.

- How did you finance it?

1. SBA Loan. Did a Business Plan and all that kind of stuff then groveled in front of Wooly's Dad.
2. Was profitable from day 1 due to having contracts set up. Out of pocket I guess.

- How did you learn the business?

1. Had been doing this type of work since I was 16 and got a degree in Park and Rec Administration that taught me about developing business/organizational master plans, budgeting, ect..
2. See above. Also obtained a Masters in Landscape Architecture with an emphasis in Ecological Design and Designing Natural Systems. Worked in habitat restoration field for 3 years prior. Certified Arborist for 4 years prior.

- How did you find customers?

1. Referrals from existing clients
2. Pre existing professional contacts. Was mostly a sub contractor to the prime.

- Success Stories

1. Paid for my first year (living expenses included) of grad school in cash.
2. Worked on some of the highest profile habitat restoration projects in the Bay Area.

- Epic Failures

1. Nothing
2. Application to SBA 8 A program was rejected.

- Best Practices

Huh?

- Get fuq'd, Wooly

Like he said

I'm also by default (My wife runs the whole show thank you Jesus) a part owner of a small but successful restaurant.
All comments welcome!

One of my sons has a degree in Landscape Architecture from Purdue. He works for the state and does a lot of the ecological design type stuff as well. Really likes his career.

 

[Irish#1]

There's an old saying about owning a restaurant.......Want to have a million dollars in the restaurant business? Start with two million.

 

[Bluto]

One of my sons has a degree in Landscape Architecture from Purdue. He works for the state and does a lot of the ecological design type stuff as well. Really likes his career.

Good for him. I've been fortunate enough to have worked on some pretty amazing restoration projects. It's pretty rewarding.

 

[Buster Bluth]

re: opening a restaurant:

"i'm saying if I were your accountant...I would advise against it"

-Jonathan "The Duke" Mardukis
Midnight Run
Train scene with bounty hunter Jack Walsh

That's why Jesus invented food trucks. They're the perfect medium between a restaurant and a banana stand.