All Forum Posts by: Corey Smith

So, you wouldn't advice that I see if the owner will teach me the basic ins and outs of the business?

I suppose I will look into some business courses. Thanks.

Do you have any suggestions regarding the motel? I should look at it first obviously, find out why it's being sold, where it's located, etc. Anything else?

That's the point though. People are distracted by big screen sports on a high quality screen and are also entertained...hence, repeat customers. It's hard to get people away from mine. lol.

Yes, obviously it's a minor point and wouldn't be a main focus, but I believe it would make a great addition. We have one restaurant here that has big screen projection inside and that place is full to the brim all the time. The screen quality sucks too, because they use poor quality white screens. My custom screen crushes them. I may have to post a screenshot.

Alright. Point taken. The big screen idea is just an idea for a later addition. It's not a main focal point or anything.

Agreed. I know a lot of that from Ebay, but I do need to learn what all it takes to run a motel or a restaurant, so I will need to learn some more.

Good idea.

Ah. Ok. Thanks for the help. It's a learning process. :D

I'm not sure why they're selling yet. I'll have to call and find out.

Do you know the best way to come up with a plan for running a motel? Should I talk to the owner about details or figure out certain things? I know it'll be harder to operate than Ebay, but I'm more than willing to put in the effort to make it succeed and I firmly believe my ideas will make it more appealing and more profitable (whether it is a restaurant or a motel).

Should I find out from the owner about all that stuff you mentioned? I know I can bring in more money and customers. That much I am 100% positive. There's no way with my marketing/ad design + my upgrades that it will do worse. So, regarding the other issues that I'll need to write the business plan about should I contact the owner or just figure things out and write the plan myself? Obviously I know a little about what will be needed, but I'm thinking I will need the owner to fill in the gaps.

Thanks again!

Home theater & really big screens are just my passion (everyone who sees mine absolutely loves it and thinks I paid a lot more for it than I really did). It's just a great way to experience movies, sports, video games, etc. I've always wanted to start a business and I have had ideas of theater rental rooms for a long while (for b-day parties, gaming tournaments, movies, etc).

So, integrating them into a restaurant or a motel makes sense for me and for business. It's an attraction, it's entertainment and it's fun. People like to be entertained and they like something unique and out of the ordinary.....and and LIFE SIZE! hehe. Of course it doesn't automatically equal success if you're sorely lacking on marketing and good ads (or other important things). That's very important and I know that from my ebay experience.

BTW, I was already looking at some business plan software. Thanks for the advice. It's much appreciated. Anything that can help me is good. I'm always open to learn new things and I try to learn as fast as I can.

So, if I come up with a business plan my income won't really matter like the poster above mentioned? Wouldn't I still be required to make a down payment? If so, I think that is partly why I would need some help. I'm going to have a look at this business plan software.

Thanks for the input guys. Now that I really have thought about it a lot more I believe the Motel would probably be a better buy (if it's priced decently) and would be simpler to operate. If I were to own it I think I would work the front desk myself, see if I can be trained to operate it by the previous owner and hire only what is absolutely needed.

I would like to install 8-10 foot wide home theater front projection systems with my custom built high contrast silver screens into at least 5 rooms and bump up the prices for these rooms a bit. That way it would make these rooms stand out and be unique. People could use the rooms for big screen gaming, dvd viewing, sports, etc. I would be sure to market this everywhere with well designed photoshopped ads with mapquest directions to it starting from Wal-Mart (everyone knows where it its here). Those rooms could also be rented out for birthday parties and such. I think it's a good and unique idea. Mini Theater rooms could even be rented out hourly.

Other possibilities. I am a great cook with some good menu items. I could raise the room rental just a bit and offer a free meal to every one who stays. and give discounts for those who stay multiple nights if the place isn't filled up every night.

I always am full of ideas. My ideas have always helped me on Ebay; I believe they would help me even more with an established business like a motel.

I will post a picture of the kind of theater I am talking about, so you can get an idea of how cool these things are. They'd be a great attraction. The great thing is they can be had a lot cheaper than people realize, but my custom screen is what makes it really pop.

How would I go about writing a business plan to run a motel? What steps do I take? I have the marketing covered and I know I want to make some big screen additions to rent out rooms with huge screens (possibly even hourly rooms/gaming rooms/etc). I know I am willing to work there and help out with anything and even learn the ins and outs from the previous owner.

So, what should my next steps be? I know I can do this if given a chance. I have some good ideas that I know will work, but I guess the business plan thing is a little confusing. I feel I know exactly what I'd do if I was handed the business, but I don't really know what is required of me when it comes to writing out a plan to buy and run a motel.

I'm not ruling out the restaurant or pizza restaurant though. I believe the big screens and much better marketing/ads would be a great addition (plus, some of my own dishes I always get compliments on) that would bring in repeat/more customers.

Thanks!

I definitely don't have a full plan, but marketing is very important to the success of an established restaurant and many businesses don't do it nearly as well as they could/should. Better marketing will bring in more customers/profit. I am a home theater/projection enthusiast and I would also like to entertain the idea of implementing front or rear projection on 7-10' wide screens (can be done surprisingly cheap) to display sports and such. I will use higher contrast screen to improve quality greatly.

I think the number one thing that currently will need to improve a current established restaurant is great marketing. I will have to work more on the plan, but I know I can do this very successfully.

I want it to be a relaxed and comfortable environment with great food, some big screen entertainment to keep customers returning. I would gladly talk to the previous owner to learn all I could learn asap. I still need to continue working on a plan, but I have some good idea to bring in more customers and make more money.

I do need to work on the finer details in writing, but it will definitely be very successful and I'm currently looking for people who might be interested. I would prefer someone who is interested in operating a restaurant business as well, but if it's just an investor I will help pay for the loan acquired and get a plan in order. I will even work at the restaurant to help it succeed.

I just saw the ads today, but I am most interested in the restaurant. I will even work there if I have to. I am still in the planning phase, but I am not completely plan free by no means. I am also willing to work with a co-owner on this or even use a consultant to help out. I have unique ideas that I'd like to talk about implementing later on as well.

Marketing is very important and that is where I am well experienced. I have been marketing and designing ads on Ebay for years. I am a graphics artist using photoshop, so I would happily provide my marketing and ad design skills to the table. So, I do have some good marketing plans in place already.

Having good help is important as well, of course.

I am a quick learner too if that helps. The business will be a great success. I will die trying and put my heart into it 100%. I will be working more on the plan.

Don't hesitate to contact me if you are a bit interested.

Thanks!

Hi. I am new to investing, but am very excited about getting started with some profitable ventures asap. I have always wanted to be a business owner. I have done a lot of selling on Ebay and I love making money that way. It's just great to be an entrepreneur. Ebay doesn't bring in as much as I'd like, but it's shown me what is possible.

Anyway, there are a few great business opportunities in my local paper for the following:

A restaurant -

"SUPER east & fun. Nets $100K a year. Certified business appraisal shows a value of $292K, but now value priced at $203,500 plus inventory."

A pizza restaurant -

"One of the top such businesses in town. Makes $90K after expenses. Well established & very simple to operate."

An 18 room motel with an owner's suite.

"MOTEL - Very well established & doing very well. 18 rooms with owner's suite. Cleared $123K in 2007. Priced below appraisal with some owner financing avail."

I'm interested in all three really, but would like to pick one to co-own with someone who is interested in a business that will pay for itself and then some.

I would do this by myself, but there's just no way I can get a loan big enough to cover it. I have good credit and have never missed a payment on my credit cards or anything like that. I live for free, so I always have extra money left over.

So, I am looking for someone with great credit who can secure a decent sized loan who would be willing to partner with me. I will gladly pay half of the monthly payment or settle for a percentage of the profit for showing it to the investor. I prefer a 50-50 partnership though. It's a great opportunity and I am excited about it if I could just find a business partner. I know great things are to come if I can find one. I have some ideas for the restaurant if that's the one chosen.

Please contact me or post here if you are interested and I would love to talk to you about it. I'm a real genuine & nice guy just looking for a better life and I really need this, but by myself it's just out of my reach, unfortunately.

Thanks a lot!