My partner and I met with a fellow restaurant owner last night. He owns three restaurants in a nearby summer resort community. They cater to the weekly vacation crowd. One is a store that sells scoop ice cream, coffee and sandwiches. He met with use to see if we were interested in selling our crepes in a section of that store.
We talked with him for a while thought it was an interesting idea but we still have reservations. It gets us into that resort area, which is part of our long term plans, without having to pay for a storefront. But we lose our branding as we would simply be making crepes as part of his larger restaurant. We asked him why he wanted to work with us? Why not just buy some crepe pans and train his employees to do the work? What do we bring? He told us he had enough headaches with his three businesses and did not need more, but he thought that selling crepes would complement his current products. He knows my partner from previous businesses and trusts her so he thought we could take on that aspect of the business without him having to manage it.
He has a staff already and a kitchen along with storage and refrigeration. We would simply set up our operation in a kiosk area of the store, and possibly buy the needed equipment and hire more staff. We kicked around how we might split costs, equipment, rent, labor, etc. This was our first meeting and was only the preliminary spit-balling of how we might work together.
My question to you all is how would you suggest we divide the costs, equipment and revenue? Any examples where this has worked? Any pitfalls we should look out for? I'm already considering a contract where we are assured a % of revenue from crepes for a certain period of time regardless of whether we are the ones actually making the crepes or not, so that he can't just take our menu, recipes and equipment and start doing it all himself after have spent the time and money to set-up the operations. What else should we be considering before we agree to move forward with this? Any thoughts would be greatly appreciated.
We talked with him for a while thought it was an interesting idea but we still have reservations. It gets us into that resort area, which is part of our long term plans, without having to pay for a storefront. But we lose our branding as we would simply be making crepes as part of his larger restaurant. We asked him why he wanted to work with us? Why not just buy some crepe pans and train his employees to do the work? What do we bring? He told us he had enough headaches with his three businesses and did not need more, but he thought that selling crepes would complement his current products. He knows my partner from previous businesses and trusts her so he thought we could take on that aspect of the business without him having to manage it.
He has a staff already and a kitchen along with storage and refrigeration. We would simply set up our operation in a kiosk area of the store, and possibly buy the needed equipment and hire more staff. We kicked around how we might split costs, equipment, rent, labor, etc. This was our first meeting and was only the preliminary spit-balling of how we might work together.
My question to you all is how would you suggest we divide the costs, equipment and revenue? Any examples where this has worked? Any pitfalls we should look out for? I'm already considering a contract where we are assured a % of revenue from crepes for a certain period of time regardless of whether we are the ones actually making the crepes or not, so that he can't just take our menu, recipes and equipment and start doing it all himself after have spent the time and money to set-up the operations. What else should we be considering before we agree to move forward with this? Any thoughts would be greatly appreciated.
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