Opening a business... doing a market study... help me out
10-Mar-2004, 12:12 AM
#23
Registered User
Join Date: Apr 2003
Location: Brampton
Posts: 3,129
Originally posted by Tank1364
i would like to becoem an affiliate but i dont think it would matter cause nobody lives around that area anyways, lol
sorry man but i dont like to discuss finances over the net
i can tell you that a wendys will be more expensive for the name... expect to pay low 6 figures
i would like to becoem an affiliate but i dont think it would matter cause nobody lives around that area anyways, lol
sorry man but i dont like to discuss finances over the net
i can tell you that a wendys will be more expensive for the name... expect to pay low 6 figures
10-Mar-2004, 12:13 AM
#24
Registered User
Join Date: Apr 2003
Location: Brampton
Posts: 3,129
Originally posted by ~ILLEST CIV~
HAHA Well we can say the same about u man...haha u got B-Town up there too....haha we Both went to Brampton schools......lol
So we have the right to put B-Town up .........LOL
HAHA Well we can say the same about u man...haha u got B-Town up there too....haha we Both went to Brampton schools......lol
So we have the right to put B-Town up .........LOL
10-Mar-2004, 12:18 AM
#26
Registered User
Join Date: Jan 2003
Location: A Place Called Ontario
Posts: 3,694
OH MAN MEGA WRAPS!.....have u ever tried those........The Chicken Ceasar......HOLY!.....itz to die for........LOL i don't doubt the pita thing.......if they went down in price.........i'd be there everyday eating at Mega Wraps
10-Mar-2004, 12:34 AM
#28
Guest
Join Date: May 2002
Posts: 47
just make sure you trust your partner 100% ... if you dont specify otherwise in a legal agreement, you are general partners. as gen. partners who did not sign any explicit agreement, verbal agreements or whatever you two agree with does not count and will not hold in court, you are subject to implied rules of partnership which include ...
both of you are 100% liable for the debts of the partnership to creditors. If the other guy messes up, and he's broke and the partnership is broke, you're paying.
its implied (genreally) that you two are going 50/50 .. so if he screws up 100% and you had to pay, you can only recover at most 50%, by sueing him (which costs more money)
both of you are 100% liable for the debts of the partnership to creditors. If the other guy messes up, and he's broke and the partnership is broke, you're paying.
its implied (genreally) that you two are going 50/50 .. so if he screws up 100% and you had to pay, you can only recover at most 50%, by sueing him (which costs more money)
10-Mar-2004, 01:38 AM
#30
Im real close to grimsby/beamsville area... that area has rapid growth.. A friend of mine operates about 5 jiffy lubes in the gta and surrounding area.. hes very knowledgeable in market area's. And has ran a few stores down the st kitts area.
Most of the money in the oilchange business is not made by just changing oil. Its made by selling services and products at a higher rate then lets say canadian tire.. - but the reason the products are priced higher is becuase they are good products but they are also installed .
Pm if you wanna talk
Most of the money in the oilchange business is not made by just changing oil. Its made by selling services and products at a higher rate then lets say canadian tire.. - but the reason the products are priced higher is becuase they are good products but they are also installed .
Pm if you wanna talk
10-Mar-2004, 02:01 AM
#31
Senior Member
Join Date: Dec 2003
Posts: 23,881
1 tip for you...do not have a joint business account unless it requires 2 signatures to withdrawl funds or transfer...I know too many people that have been screwed by best friends of 10+ years cuz they didnt take that 1 easy step
I too am lookin into a franchise for owning my own business...I guess I'm gonna put my education to use (thanks sheridan college and the business program)
I too am lookin into a franchise for owning my own business...I guess I'm gonna put my education to use (thanks sheridan college and the business program)
10-Mar-2004, 08:47 AM
#35
for me... there are several key ingredients!!
HIRE GOOD PPL, ones that LIKE what they do - and will take pride in their work. They gotta come into work clean, leave clean... and they gotta keep their workstation clean!
KEEP YOUR BUSINESS CLEAN - I mean outside keep the lawn mint, keep the parkinlot clean, keep the building maintained. I always go to the best looking place for my carwash, since to me it means they also maintain their washing equipment (and the owner of that one owns a S2000, so since he's a Honda man too -he said so- I like to support him).
KEEP THE PRICES SLIGHTLY UNDER AVERAGE - it's simple economic theory. You are entering a market of perfect competition, where consumers percieve every oil change place as good as the next. The two things above try to lift you ABOVE the rest of the oil change places so that you are distinct in the minds of customers, but for them to know that they must come in first! In perfect competition, since ALL products are percieved to be the same, the lowest price in the neighborhood gets 100% of the business. Think for example ONE gas station where gas is 50 cents, and it's 60 everywhere else. That one station, even though it's making 10 c less profit, is getting 90% of the business, so as long as they are making ANY profit - odds are they'll make more $ than any other station around. Get what I'm saying?
Also, be different and offer synthetic as an option. With more factory turbo and supercharged cars, more ppl may want to use synth.
HIRE GOOD PPL, ones that LIKE what they do - and will take pride in their work. They gotta come into work clean, leave clean... and they gotta keep their workstation clean!
KEEP YOUR BUSINESS CLEAN - I mean outside keep the lawn mint, keep the parkinlot clean, keep the building maintained. I always go to the best looking place for my carwash, since to me it means they also maintain their washing equipment (and the owner of that one owns a S2000, so since he's a Honda man too -he said so- I like to support him).
KEEP THE PRICES SLIGHTLY UNDER AVERAGE - it's simple economic theory. You are entering a market of perfect competition, where consumers percieve every oil change place as good as the next. The two things above try to lift you ABOVE the rest of the oil change places so that you are distinct in the minds of customers, but for them to know that they must come in first! In perfect competition, since ALL products are percieved to be the same, the lowest price in the neighborhood gets 100% of the business. Think for example ONE gas station where gas is 50 cents, and it's 60 everywhere else. That one station, even though it's making 10 c less profit, is getting 90% of the business, so as long as they are making ANY profit - odds are they'll make more $ than any other station around. Get what I'm saying?
Also, be different and offer synthetic as an option. With more factory turbo and supercharged cars, more ppl may want to use synth.
10-Mar-2004, 10:13 AM
#36
Registered User
Join Date: Apr 2003
Location: Brampton
Posts: 3,129
Originally posted by bbarbulo
KEEP THE PRICES SLIGHTLY UNDER AVERAGE - it's simple economic theory. You are entering a market of perfect competition, where consumers percieve every oil change place as good as the next. The two things above try to lift you ABOVE the rest of the oil change places so that you are distinct in the minds of customers, but for them to know that they must come in first! In perfect competition, since ALL products are percieved to be the same, the lowest price in the neighborhood gets 100% of the business. Think for example ONE gas station where gas is 50 cents, and it's 60 everywhere else. That one station, even though it's making 10 c less profit, is getting 90% of the business, so as long as they are making ANY profit - odds are they'll make more $ than any other station around. Get what I'm saying?
KEEP THE PRICES SLIGHTLY UNDER AVERAGE - it's simple economic theory. You are entering a market of perfect competition, where consumers percieve every oil change place as good as the next. The two things above try to lift you ABOVE the rest of the oil change places so that you are distinct in the minds of customers, but for them to know that they must come in first! In perfect competition, since ALL products are percieved to be the same, the lowest price in the neighborhood gets 100% of the business. Think for example ONE gas station where gas is 50 cents, and it's 60 everywhere else. That one station, even though it's making 10 c less profit, is getting 90% of the business, so as long as they are making ANY profit - odds are they'll make more $ than any other station around. Get what I'm saying?
Very well put.
10-Mar-2004, 10:15 AM
#37
Guest
Posts: n/a
thanks guys, im hearing some good things here.
when i get it up an running I will be sure to let ppl know... the biggest thing for me is a strong customer base...
anyways, everyone was very insightful and i appreciate all the advice, i will keep you posted as we move forward!
thanks guys
Brad
when i get it up an running I will be sure to let ppl know... the biggest thing for me is a strong customer base...
anyways, everyone was very insightful and i appreciate all the advice, i will keep you posted as we move forward!
thanks guys
Brad
10-Mar-2004, 01:14 PM
#38
Registered User
Join Date: Jul 2002
Location: Mississauga
Posts: 3,193
I never understood why gas stations wouldn't lower their prices by like 5 cents from the one across the street from them, they may lose a dollar a sale but they'll have more sales to fill the difference.
10-Mar-2004, 03:42 PM
#39
Senior Member
Join Date: Jan 2003
Location: Your sisters bedroom
Posts: 30,142
eh man, i'm pretty close to grimsby area. Only abuot 10-15mins away. I'd be interested in helping out in any way possibly. Try to accomodate all cars, like big suvs, lowered cars, etc. Also, if you can try to get employees that somewhat know the passion of cars. Like only get certain employees to do certain cars, etc. EX: lowered done up cars, to one guy.....suvs/jeeps to another guy.....
catch my ddrift ?
Also, when you open it up, try to aim a little earlier if possible and hold a car show to get everyone's attention to it. There's a little marketing lesson for ya
Let me know if you need any more help. Add me to msn..... fen_1@hotmail.com
catch my ddrift ?
Also, when you open it up, try to aim a little earlier if possible and hold a car show to get everyone's attention to it. There's a little marketing lesson for ya
Let me know if you need any more help. Add me to msn..... fen_1@hotmail.com
