Guest Schramm Posted February 4, 2009 Well things have been semi steady for me but it definatly could be a lot better. Today my brother came to me and wanted me to partner up with him and start buying failing resturaunts. I use to do this full time for 3 years and I am a really good wheeler dealer. In the area (40 mile radius) there is 8 places going under and we can pick stuff up really cheap and sell it out of state really high. The money part sounds great but it would mean me selling all my cutting equipment, software, books, designs and much more. My brother has plenty of money and I have enough to buy everything on my own but partnering with him may be ok. Here is where the problem comes in. I am kinda a loner and like doing things without anyone around me and he really is NOT a wheeler dealer. I really love my brother but at a distance, if you know what I mean! I asked him if he would consider a silent partner deal and he is thinking about it. I personally was thinking of buying out defunk Starbucks but I could alway add resturaunts as well. Well either way if you dont mind letting me know what you think it would really help! Rob Share this post Link to post Share on other sites
midwaste 4 Posted February 4, 2009 The first thing that comes to mind is...There's a reason those restaurants are failing. Restaurants are failing all over, not just in beautiful Spring Valley (I'm in Peoria, BTW), so that equipment may not have the demand there once was. My opinion, don't sell your equipment. Tread lightly on this deal, if it goes well, cool. If not, you still have your equip. Not sure what all equipment you have, but I certainly wouldn't sell out the equipment and know-how that you have built on a get-rich-quick scheme. Share this post Link to post Share on other sites
Guest Schramm Posted February 4, 2009 That is a good idea. I know the resturaunt equipment sales pretty good and I know how to clean and repair most major items. I really love doing art, but there is a reason for the statement "Starving Artist". I do a lot of very high end things however those high end things come at a high end cost (product wise). I havent done a faux job since I have been in Illinois in 5 months. I do quite a bit of mirrors but when it comes down to it the cost for advertising comes close to the draw that I make from the mirrors. I make the bills every month with no problem however I spend a ton of time making and sending samples with little outcome. Though these resturaunts are closing I know the business really well. New ones are opening up daily the only thing that I really need to do is find ways to get the equipment to them. I dont know if I will sell my equipment as I have 3 plotters, 200+ Dover design books, art books, Ultimate design and complete Roland books with all the software, ton of vinyl and tape and it would just be a big loss on my part selling it. I do think that I am going to buy the equipment though and if it takes off maybe I will just sell the stuff in 6 months. Right now I dont know, I do know that I am not going to do it with my brother. Thanks Share this post Link to post Share on other sites
firemalt 10 Posted February 4, 2009 Schramm... not going to type a lot cause i'm working with one hand, but i think you have already answered your own question. i understand you would like to make more money, but we all want to make more money. the stuff you have shown us is simply amazing! i have a hard time believing that you could just walk away from your gifted talent. i think it all boils down to... would you be happy buying/reselling the resturaunt equipment. i would say keep you equipment, stay the course, and see if your brother will infact allow you to be a silent partner(best of both worlds). Also keep in mind, when this recession is over, is there still going to be resturaunts going out of business as often? that just sounds more like a temp money making, to me. Share this post Link to post Share on other sites
Rodger 527 Posted February 4, 2009 My 2 cents ; We can't really take our knowledge about previous slumps & compare it to this recession . This is the worst in their life accordng to every older person I've asked . The news say it is the worst in 90 years . I read it will be June/July before it hits bottom ... might not get going as fast as in the past . The deals I have passed by months ago , are even cheaper now . I'm not sure if you are talking about buying the restaurants with property or just the business , equipment . If buying with property & the resulting higher price ...better be VERY carefull . Politicians throwing money at the problems have to come home sooner or later ( or do they just keep printing money ) . Share this post Link to post Share on other sites
Guest fivestar Posted February 4, 2009 My advice is look deep into yourself and you'll find the answer without our opinions. You are the only one who knows your lifestyle and your relationship with your brother. It would be nearly impossible for us to give you the correct advice for this. Whatever you decide, I'm sure will be the correct decision. Share this post Link to post Share on other sites
kburk 2 Posted February 4, 2009 Well..... you don't want to starve for sure,but I have my own business construction in Vancouver B.C. thing are a bit different up here we are not feeling the times as much as you guys. We are still getting charged too much tax and most everything is over priced even compared to the other provinces. So like I said I have my own business some times you turn thing in to gold others you scratch you head and say what the hell did I do that for. I made a dissition in September to start another business with my brother in-law. Now he is a good solid guy hardworking and honest. Sounds great eh? We opened a inspection business for housing it was booming in September so I bought a course for him $6000.00 to get him trained and I put him on my crew and paid him $5.00 and hour more than my highest paid guy. So here is the jig he has not started the course the books are just sitting there I have found a bunch of work but ended up doing it myself so I don't get it. If he was just crew it would be different. So there is my store I'm still trying to figure it out. All I'm saying really is it is a lot harder with Family and Business just be careful. If you want to make more money if that is the real deal then push you business in a new way. Go in to some other part you have not done before. Bird in the nest in better than one in the bush. Good luck and remember it just my cents (and really Canadian dollars so its only worth 1/2 as much) Keith Share this post Link to post Share on other sites
Muttley 0 Posted February 4, 2009 Rob, Working with family will be the hardest thing you do. I think that selling all your equipment and art would be a huge mistake also. I used to work for a big retail company here in the Northwest; I was a site supervisor during remodels. I used to buy all of the old food service equipment that I could during the remodels, haul it off to my house, and resell it to wholesalers. I would make good money, but not enough to live on. If I were in your shoes, I would partner with my brother, but he and you need to be the owners of the company, not the workers. You could go out, bid and inspect equipment when needed, but hire a couple of guys to pick it up, haul it off and clean it up. This way it gives you more time to keep working on what you love to do! Just my two cents. Muttley Share this post Link to post Share on other sites
chefgary 4 Posted February 4, 2009 Partners... I have seen lots of good friends and family be partners not speaking to each other after a breakup of the partnership. many survive though. I would think seriously about your relationship with him down the road in the years to come. Gary Share this post Link to post Share on other sites
buddy 7 Posted February 4, 2009 Schramm- As I agree with everyone here in this matter...here is my .02 cents. You have a God given talent and though things haven't been selling like they used to, things will come back around and if you sell everything now, later you will look back and wish you hadn't! Family and business, Friends and Business...however you put it silent or not, is NOT a good combination! Search your HEART...forget the money...Search your heart my friend becasue that's where God is and he will guide you! TRUST IN HIM to lead you! Dazzel Share this post Link to post Share on other sites
hatmanok 0 Posted February 4, 2009 Do what you love to do. It is better to do something you love and make less money than hate your job for more money. Life is too short to be doing something you hate or dislike. Good luck on your future. Share this post Link to post Share on other sites
Guest Schramm Posted February 5, 2009 Thank you so very much for you opinions as they were all taken in with gratitude! I made a decision last night after a long talk with my wife not to go into business with my brother but insted to take money out of our savings to buy equipment on my own and sell it while times are tough. Today was the best day I have had in many months as I bought 10 pieces of equipment and sold 3 within 45 minutes of the purchase, then I traded another person for his 4 tap beer cooler for a 3 tap that I bought as he needed the space. I cannot explain to you what it is like here in po-dunk as I am sure that those of you in the midwest probably know that winter sucks. I have decided that selling my equipment would just turn out into a loss so I am keeping it! For right now I am going to do both and do it on my own, today things just started popping for me in my head. I talk to Duke almost everyday on the phone and we have become pretty good buddies and he talked to me today as well. I really do thank each one of you for stating your opinions and I think the decision that I made last night is the right one. Sometimes it has less to do about money and more to do with having something to do! I am use to talking to people and having them just take my estimate and pay it and latley the economy has totally trashed my decorative business. It is hard to be an artist without somewhere to do art. For now I will do both and see how it plays out! Thanks again!!! Share this post Link to post Share on other sites
Muttley 0 Posted February 5, 2009 Thank you so very much for you opinions as they were all taken in with gratitude! I made a decision last night after a long talk with my wife not to go into business with my brother but insted to take money out of our savings to buy equipment on my own and sell it while times are tough. Today was the best day I have had in many months as I bought 10 pieces of equipment and sold 3 within 45 minutes of the purchase, then I traded another person for his 4 tap beer cooler for a 3 tap that I bought as he needed the space. I cannot explain to you what it is like here in po-dunk as I am sure that those of you in the midwest probably know that winter sucks. I have decided that selling my equipment would just turn out into a loss so I am keeping it! For right now I am going to do both and do it on my own, today things just started popping for me in my head. I talk to Duke almost everyday on the phone and we have become pretty good buddies and he talked to me today as well. I really do thank each one of you for stating your opinions and I think the decision that I made last night is the right one. Sometimes it has less to do about money and more to do with having something to do! I am use to talking to people and having them just take my estimate and pay it and latley the economy has totally trashed my decorative business. It is hard to be an artist without somewhere to do art. For now I will do both and see how it plays out! Thanks again!!! I am happy that today has turned around for you! Good luck selling the equipment, and hopefully it pays enough to purchase supplies for your art and talent. Share this post Link to post Share on other sites
buddy 7 Posted February 5, 2009 Good Attitude Schramm and great choice! DAzzel Share this post Link to post Share on other sites
Benr98 40 Posted February 5, 2009 Sounds like you made a great choice Schramm!! Glad to hear you decided the way you did. Working with family can seem like a good thing, but IF it goes sour, it goes fast! I'm so glad to hear you decided against selling your equipment....I was concerned when I read your first post. Share this post Link to post Share on other sites
Guest Schramm Posted February 5, 2009 I agree about working with family, in fact I think that the only reason that my brother wanted to do it was because I was talking to my dad about doing some stuff dealing with what I was planning and my brother wanted to get involved. The deal would of been for him to float money and I do everything! I am the one with the connections and I have a good nest egg saved so I talked to my wife last night and emailed everyone one in my data base that I used to deal with and got an overwelming response with things needed. I showed those emails to my wife and she said take however much you want and get it going! Who knows how it will turn out however I have worked in high end residences for the last 20+ years and have saved 1/2 of everything that I have earned for retirement, right now with the economy the way that it is it is probably a safer bet then stocks or savings. I bought 10 pieces today and sold 3 and earned back everything I spent and have 7 pieces of equipment left (1 is a 4 head frozen drink machine!!!). Wait... why doesnt that sound as nice as when I lived in Florida?? Oh yeah it was 17 degrees today!!! Brrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrrr Share this post Link to post Share on other sites
kburk 2 Posted February 5, 2009 I glad to here it!! All the best to you I know it will work out!! Moving forward is all ways the right way!! Keith Share this post Link to post Share on other sites
Cre8tiveCutter 7 Posted February 5, 2009 Sounds like you worked out all on your own... Sometimes we need to put it out there and "hear" what others would do and feel 100% reasurred that the way we were thinking in the first place was the right thing to do! As others have said, going into a biz deal with friends or family can lead to a huge strain on the personal side of things. So good for you that you are avoiding that all together! Happy to hear that you are not selling your creative equipment, now that would have been a huge mistake in many ways! You definetly have talent and you need the oulet of releasing that talent, you would have been an unhappy camper had you taken away that ability, you may have even been in danger of exploding, has to go somewhere! LOL! Renee Share this post Link to post Share on other sites
