Hello all fellow entrepreneurs! Just bought a franchisee seeking veterans advice

[bzebizboy]

I am very open minded when it comes to business feedback. I am 19 years of age, full time student, and just purchased a franchisee(very-inexpensive). I am asking for a general feedback-comment session from whomever! Thanks


The franchisee is called Bike Caffe and it's a mobile eco-friendly bartista shop. My vision is to have it at weddings, farmers markets, medical lobbies, sporting events, etc. Now i don't plan on one producing mass profits, but maybe if i had 10-15 of these running around Scottsdale/Phoenix it could be a turnkey idea. Now the purchasing details, i paid 20k (12.5 for the bike all machinery included, and 7.5 for the franchisee fee) I am putting 30% of all my profits into tuition (school,books,etc)This is a VERY new concept.

If i could get any feedback or comments that would be appreciated.

[Marco Santori]

Hi bzebizboy. Could you be a little more specific? First, who's actually operating the mobile barista? What's your expected ROI and what metric will you use for determining when you purchase another franchise?

[Encrypted]

Why didn't you just use the 20k to pay for college? I'd never pay 20k for a mobile business.

[Marco Santori]

That's a lucid point. Is the unit itself very high-tech? Does it have good resale value?

[foodcartnegosyo]

Isn't it too over 20k price for a mobile franchise? But nice concept.

[swimdiva]

Start with just the one and see how it goes! Some places the city may require you to have a permit to sell as a mobile vendor - check into that at parks, ect. I would try riding through the colleges during the am, near a daycare center at the am, after church on Sundays... think of out-of-the-box spots that having your product available right there would be a huge convenience to the customer. We have a pizza place in town that does a bike cart. They pick up the pizza from the store, and they sell it by the slice on the streets from their bike... they dress up in super hero costumes too, but we always buy it when we see it!

Good Luck!

[Peter Picnic]

Hey Bzebizboy, I agree with swimdiva that you should start with one and learn from that. Do plenty of market research about potential hot spots before you start. Once you get started, get plenty of feedback and do analysis of your business, whether it is growing healthily or not. There is always room for improvement. And always remember to provide great customer service. Good just doesn't cut it nowadays. Last but not least, best of luck for your business.

Best,
Jeremy
Peter Picnic: A blog for entrepreneurs

[Glee006]

1 sounds very fair. Don't expand too quickly, you don't want to suppy more than you are demanded. You should consider deliveries in the morning for office buildings. KNOCK ON DOORS. I ran a mobile food truck in LA its a tough industry.