28 days to profit – How I flipped a pizza shop

28 days to profit – How I flipped a pizza shop

28 days to profit – How I flipped a pizza shop

How to take a tired, run-down Pizza Shop from zero to profit, and sell it in 28 days.

There are business opportunities in the strangest of places. A few years ago I saw an advertisement for a Pizza shop up for sale. It was closed down but fully equipped. I thought “Why not?”… “Let’s see how quickly I can FLIP this business.” Here’s how it all unfolded:

Stage one:

  • I negotiate well to create the basis for a Win-Win
  • I took possession of the shop on Friday the 1st of October. It was about 6pm when the team (my wife) saw it for the first time. The stunned response was: “Don’t talk now! I need time to see the vision.”
  • I thought that this would be a good time to go and get a pizza from up the road (check out the competition = market research), and to grab a bottle of wine or two (introduce myself to the local business owners = strategic alliance), and have some FUN along the way.

Stage two:

  • With a vision in mind and an exit strategy, it was time to get cracking.
  • I then advertised for staff- pizza cook and drivers (team) and worked out who did what, when and how (systems).
  • I shared the vision with the team and explained that this is a short-term project – 28 days in and out – and we’ll all have fun along the way.
  • Saturday morning I was up early and off to the hardware store for paint and cleaning products.
  • I got the team involved to help (reward them with free pizzas = leverage) and started to create flyers for a letterbox drop. All the while, having more FUN.

Stage three:

  • I simplified the menu, changed the look of the shop and created a USP (niche): 10 pizzas, two sizes, brilliant base and superior quality toppings at a premium price.
  • I invited everyone I knew for opening night and had even more FUN.

Stage four:

  • I advertised the business for sale (ten days after purchase = goals) and stayed firm on the realistic price set (profit).
  • I interviewed prospective buyers, introduced them to the landlord and created another Win-Win
  • The contracts were signed.
  • There were smiles all round.
  • We then had a lot more FUN.

Stage five:

Total of days 28 with a profit in excess of 600 net on purchase price.

  • Was it hard work? Yes (but not for long though)
  • Was it difficult? No
  • Did I follow proven business systems? Yes, Yes, Yes
  • Was it FUN? Definitely
  • Did I learn from the experience? Absolutely!
  • Did others learn from the experience? Yes.

Contact one of our business coaches here.

This blog is brought to you by Edy Wilfling.

 

Edy Wilfling

By |2018-10-30T09:43:06+00:00December 20th, 2017|Categories: Building Businesses|Tags: , , , , , , |0 Comments

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