Discussion Thinking about opening a business

[Breadbfra]

Before Covid19 my life was quite decent. After the pandemic my mental health has been the absoloute worst - and ketamine treatments stopped working. I started taking Vortioxetine and for the first time in my life it's apparently functioning very well.
Besides this, I've been looking for a job as a baker (no shit Sherlock, my username says it all) but Italy's economy has been destroyed, luckily not like France's and Spain's. My fiancée lost her job and another one cannot be found, so we've been thinking about going abroad but she's not really happy about that, since she can't communicate in english.
Then we started thinking about opening a new business, due to people selling businesses at ridiculous prices.
Can this be a remotely good idea? Anyone here has a business? Thanks!

 

[Life_and_Death]

i personally had plans to open a bakery but with businesses closing and the economy being destroyed basically everywhere, i personally feel its best to hold off for a little bit. the last thing youd need is a second wave to hit and have your business shut down.

 

[SunnyPotato]

I am not fully familiar with what lockdown restrictions are like over there, but with the second wave arriving I would say if you decide to buy a business, try to make it "pandemic proof" in a way. A local restaurant near me has thrived while all the others close because they completely and quickly offered "curbside pickup" and delivery only. If you can confidently figure out a model that would survive on delivery and safe pick up options (again, if that is even feasible there,) it might be the perfect time. Then again, it is a huge risk, so proceed with caution. Good luck with whatever you decide!

 

[Breadbfra]

I forgot to say it will be a lockdown-proof bakery. Italy had the strictest lockdown second only to China's and our Prime minister assured there won't be another one, and if it there will be we won't shut down because we'll be considered essential. We'll work 100% on delivery and take away!

 

[Life_and_Death]

I forgot to say it will be a lockdown-proof bakery. Italy had the strictest lockdown second only to China's and our Prime minister assured there won't be another one, and if it there will be we won't shut down because we'll be considered essential. We'll work 100% on delivery and take away!

at that point i guess the question is, is the shop big enough for the employees to social distance. if the answer is yes or youre going to do what im doing and not hire people then you should be fine

 

[Breadbfra]

at that point i guess the question is, is the shop big enough for the employees to social distance. if the answer is yes or youre going to do what im doing and not hire people then you should be fine

No I won't be hiring people, taxation of employees in Italy is fucked up

 

[Life_and_Death]

No I won't be hiring people, taxation of employees in Italy is fucked up

then i guess theres no reason for you to not open it as long as you have a client base to pay the bills.

 

[Breadbfra]

then i guess theres no reason for you to not open it as long as you have a client base to pay the bills.

We're still looking for the place we'll be opening in, but I've worked in similar bakeries and they make tons. Btw are you a baker too?

 

[Life_and_Death]

We're still looking for the place we'll be opening in, but I've worked in similar bakeries and they make tons. Btw are you a baker too?

yes and no. yes at home i love baking and cooking. but id only be slightly above amateur i haven't had a lot of practice. but ive been planing on opening a bakery for years now

 

[Breadbfra]

yes and no. yes at home i love baking and cooking. but id only be slightly above amateur i haven't had a lot of practice. but ive been planing on opening a bakery for years now

You're somehow a colleague :) I hope you'll realize your dream soon

 

[Final Escape]

Depends on the business but if it's something that will have high demand should be good. But if all those people are selling their business it might not be a good time to buy one. They have to sell because they lost the money coming in to stay afloat. I don't know what to say other than stock away extra food, have a gun and ammo, invest in gold if u are able.

 

[TheQ22]

It might be the time to do it, but then again why are the current owners selling if it's viable? If there's rent to pay for premises, etc then it could be very hard to make it work. You'd have to look at the numbers very carefully.

 

[Breadbfra]

Depends on the business but if it's something that will have high demand should be good. But if all those people are selling their business it might not be a good time to buy one. They have to sell because they lost the money coming in to stay afloat. I don't know what to say other than stock away extra food, have a gun and ammo, invest in gold if u are able.

Yes and no. Italy's got a very peculiar economy. 95% of nowadays business are small to medium, but half of them are stuck in the 90s and don't know anything about running a successful business. That's because before our debt became crippling, the State basically helped you doing everything, protected you from outside competitors etc so you could get a job at 20 and retire at 35. Then our taxation went up 64.7%. Unlike what it looks like abroad, Italy is a very rich country, due to the massive grey economy. So, there are people who struggle paying taxes, indeed, but the majority can't run a business properly. trust me I sometimes have to fight to pay with credit cards in 2020

It might be the time to do it, but then again why are the current owners selling if it's viable? If there's rent to pay for premises, etc then it could be very hard to make it work. You'd have to look at the numbers very carefully.

We'll be thinking a lot about that :)

 

[Grav]

I think if you have the funds to open and cover your costs as you start out this would be a good time to get a deal on a building. Do your research on potential customers, how you'll market yourself, and cash flow. Even in the Great Depression in the US people were able to gobble up real estate if you had the money. I've always wanted to get into baking, I like to do it at home so your goal sounds like a good one. I see the lack of cubside and delivery as something bringing down hobby stores as well, those who could do mail order and curbside have managed to remain open but the others are through.

 

[Mafe]

Siempre que tengas como sostener el primer años de trabajo me parecepuede muy viable la empresa. Como dicen, mirar los números y losletras compradores potenciales que son los que le ayudarán a sostener la empresa.

 

[Breadbfra]

Yes we

I think if you have the funds to open and cover your costs as you start out this would be a good time to get a deal on a building. Do your research on potential customers, how you'll market yourself, and cash flow. Even in the Great Depression in the US people were able to gobble up real estate if you had the money. I've always wanted to get into baking, I like to do it at home so your goal sounds like a good one. I see the lack of cubside and delivery as something bringing down hobby stores as well, those who could do mail order and curbside have managed to remain open but the others are through.

Yes, we do have the funds for any incovenient or anything. Btw I'm a professional baker, if you need help PM me!!

 

[Deleted member 17949]

If you feel up for it it's worth a try. We believe in you bro. Obviously there are practical obstacles but if you can overcome them it's worth a shot.

 

[Grav]

Btw I'm a professional baker, if you need help PM me!!

Coolness! I'm in IT now but when they decide I'm just too much $$ to keep I plan on going to tech school and getting some cooking and baking knowledge. Already warned the wife and she agrees with it.

If you feel up for it it's worth a try. We believe in you bro. Obviously there are practical obstacles but if you can overcome them it's worth a shot.

Seconded!!

 

[Breadbfra]

Coolness! I'm in IT now but when they decide I'm just too much $$ to keep I plan on going to tech school and getting some cooking and baking knowledge. Already warned the wife and she agrees with it.



Seconded!!

I'll be happy to help you anytime, I assure you it's going to become a lifelong passion :)

If you feel up for it it's worth a try. We believe in you bro. Obviously there are practical obstacles but if you can overcome them it's worth a shot.

Thanks a lot man :) i truly appreciate it

 

[Emily_Numb]

Question: are you or your partner actually a skilled baker and have worked in a professional kitchen or bakery? If the answer is no then you really shouldn't be even thinking about this.

I have my own business. Have done for 12 years. Buying a business is a tricky affair as you need to know what you are buying, understand their balance sheet and what's actually being sold. It might be a price basically before if the equipment and lease. Just because it has a price doesn't mean it was every profitable business before so keep that in mind.

Personally, I wouldn't dream of buying a business at the moment in time but you're a grown up and can do as you please.

 

[Breadbfra]

Question: are you or your partner actually a skilled baker and have worked in a professional kitchen or bakery? If the answer is no then you really shouldn't be even thinking about this.

I have my own business. Have done for 12 years. Buying a business is a tricky affair as you need to know what you are buying, understand their balance sheet and what's actually being sold. It might be a price basically before if the equipment and lease. Just because it has a price doesn't mean it was every profitable business before so keep that in mind.

Personally, I wouldn't dream of buying a business at the moment in time but you're a grown up and can do as you please.

I'm a professional baker and I have worked in bakeries, yes, even with very relevant people. My girlfriend makes her 10th year in restaurants this year and she's been the pastry chef for a michelin star restaurant in italy. We're skilled enough, I think (no sarcasm here, I'm serious).

 

[alexit]

Before Covid19 my life was quite decent. After the pandemic my mental health has been the absoloute worst - and ketamine treatments stopped working. I started taking Vortioxetine and for the first time in my life it's apparently functioning very well.
Besides this, I've been looking for a job as a baker (no shit Sherlock, my username says it all) but Italy's economy has been destroyed, luckily not like France's and Spain's. My fiancée lost her job and another one cannot be found, so we've been thinking about going abroad but she's not really happy about that, since she can't communicate in english.
Then we started thinking about opening a new business, due to people selling businesses at ridiculous prices.
Can this be a remotely good idea? Anyone here has a business? Thanks!

Before my stepfather opened his restaurant, he offered catering services. He learned demand was high for his cooking and by the time he opened a physical location he had a following.

 

[Emily_Numb]

I'm a professional baker and I have worked in bakeries, yes, even with very relevant people. My girlfriend makes her 10th year in restaurants this year and she's been the pastry chef for a michelin star restaurant in italy. We're skilled enough, I think (no sarcasm here, I'm serious).

Well you definitely have the skill! That's awesome. Some people start business when they have no experience at all. I wouldn't necessarily buy an existing business, why not start from scratch?

 

[netrezven]

I'm sorry i'm out of the context, but is it really that bad in Italy, France and Spain?

 

[Breadbfra]

I'm sorry i'm out of the context, but is it really that bad in Italy, France and Spain?

I believe France's a bit better than Italy but Spain is completely fucked
Italy survives on grey economies
Well th

Well you definitely have the skill! That's awesome. Some people start business when they have no experience at all. I wouldn't necessarily buy an existing business, why not start from scratch?

Thanks a lot! Unfortunately laws in Italy are beyond strict, it would take too many time and bureocracy is asphixiating.