I currently run a small route retail operation in Minnesota, and I have the opportunity to purchase another route adjacent to mine as a long term veteran is retiring. I am struggling with the decision as it would put me 250k into debt again.
Here are some of the stats.
-employee would have limited supervision during the day.
-must sell 6k a week to cover expenses and pay the employee.
-employee would get base salary with bonus for anything over the 6k in sales for the week.
-I have been averaging 11k the last 3 years a week.
I dont have any employees right now besides myself (s corp). So I avoid State Unemployment, Dissability, and Workers Comp insurance (was quoted $250 a month).
The expansion would be fully paid for in 7 years which would save me $1200 a week in expenses.
My current business will be fully paid for in 5 years.
I am looking for some advice as to if it is a wise ROI to generate $500-1k a week in net profit off the 2nd route.
Thoughts?
Here are some of the stats.
-employee would have limited supervision during the day.
-must sell 6k a week to cover expenses and pay the employee.
-employee would get base salary with bonus for anything over the 6k in sales for the week.
-I have been averaging 11k the last 3 years a week.
I dont have any employees right now besides myself (s corp). So I avoid State Unemployment, Dissability, and Workers Comp insurance (was quoted $250 a month).
The expansion would be fully paid for in 7 years which would save me $1200 a week in expenses.
My current business will be fully paid for in 5 years.
I am looking for some advice as to if it is a wise ROI to generate $500-1k a week in net profit off the 2nd route.
Thoughts?
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