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Cha-ching: a successful flip
My spur of the moment purchase has panned out. Bought a deli with an already established crowd and a good catering clients. Owners wanted out badly so it only cost me 20K. I added some "juice bar" type drinks instead of Coke and crap like that. Hired three English speaking minimum wage Mexicans and the store went from 1400 a week to 2K a week in revenue. 6 weeks of work and I resold the shop for 35K.
Is this where I say booyah. |
#2
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Re: Cha-ching: a successful flip
Nice. What was your net profit after all expenses and broker fees?
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#3
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Re: Cha-ching: a successful flip
wow great job Keith, was this a mall stand or a full blow shop?
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#4
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Re: Cha-ching: a successful flip
How did you find the place to buy?
How did you find the buyer when you sold it? |
#5
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Re: Cha-ching: a successful flip
What all did you do different? Was the juice bar the only improvement or did you do a bunch of extra advertising? Grats on the flip!
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#6
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Re: Cha-ching: a successful flip
Mind telling more in details in what persuaded you making the purchase? Some numbers would be really appreciated for us to learn, thanks.
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#7
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Re: Cha-ching: a successful flip
Did you have prior experience running or owning a deli?
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#8
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Re: Cha-ching: a successful flip
I don't know much about this stuff, but if it was making 2K/week, wouldn't you hold onto it ?
You could end up making a lot more than 15k, no? |
#9
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Re: Cha-ching: a successful flip
but how much did you lose?
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#10
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Re: Cha-ching: a successful flip
He said 2k/week in <u>revenue</u>. That's before COGS, rent, wages, etc.
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