If a fellow was to purchase a bbq restaurant and the menu included Philly cheese steaks and traditional hamburgers, I'm thinking the first step to improving the business foot print and credibility would be to get rid of the Philly cheese steaks and hamburgers from the menu.
Do you agree?
Also, I'm thinking that if the restaurant is closed on Sundays, the second step to improve profits would be to open on Sundays.
Am I on the right track here?
The business was established in early 2007 and is apparently not meeting the owner's expectations. I've not eaten at the restaurant yet at this point, but I'm thinking that part of the problem is that they serve a lot of non-bbq items. The owner is also talking about adding breakfast to the menu.
From my personal viewpoint, a bbq restaurant should serve bbq and only bbq. I can see hotdogs for the children's menu or possibly fried chicken, but not Philly cheese steaks.
If a guy just had to have hamburgers on the menu, I'd prefer a "bbq hamburger" and not the traditional McDonald's variety burger.
Here's some more details about the business I'm referring to:
Asking Price: $62,000 (cash, no terms offered)
Gross Revenue: $172,784 (annualized)
Cash Flow: $31,460
Inventory: $2,000 (Included in Asking Price)
FF&E: $15,000 (Included in Asking Price)
Rent: $1,700 per month and 1,100 sq feet with parking
Competition BBQ Secrets