This place is amazing...Hope to visit soon.
https://www.facebook.com/freezersicehouse/videos/1521567454561884/
https://www.facebook.com/freezersicehouse/videos/1521567454561884/
As impressed as I am (VERY!) with Freezer's Ice House, I'm equally impressed with Scott's presentation.
I do have a couple of pieces of advice for Scott if he happens to read this thread. Manage the business like you want it and expect it to last forever, and manage your personal finances like the business might not be open for very much longer.
What I mean by manage the business like you want and expect it to last forever is that whenever possible always make your business decisions based on what will be best for the long term, not for the short term. Some not so great examples off the top of my head would be stuff like that extra 50 cents you think you can milk out of people in drink prices might make you more money for a period of time, but it could also be the tipping point that was just enough to make people slowing but surely stop coming to your establishment because they start feeling like they are being fleeced. Or if you start catering to the thug crowd you might see a surge in business for a while because of the new customer base...until your "normal" clientele slowly but surely stop coming because they don't want to be around that and the "normal" customers were 90% of your business. Basically always think about what is best for the long term, not for the short term, and keep in mind that if you treat people fairly and with respect and if they feel like they are getting a decent value for their dollars you will have loyal customers for life.
What I mean by manage your finances like the business might not be open that much longer is basically to save money. Don't spend all that you earn. You might make great money and think you don't have to be careful, but that great money might not last. The reality is that most businesses fail. Even the best businesses can and do go out of business all the time, even after being open for a long time, often for things that are totally beyond their control and even though they did everything right. The landlord might decide not to renew the lease. The building could get sold. A fire could destroy everything. Trends change and maybe something else opens up that becomes the new "it" place, or maybe pool just continues to lose popularity. Maybe zoning changes. Maybe through the worst luck possible there are 4 shootings in the place in a year even though you ran a tight ship and kept the undesirables out and now lots of your customers don't want to come any more, or the city wants to revoke your liquor license. Etc. Start saving money and lots of it right from the start so that if something does happen you have enough money to open another business, or to tide yourself over for an extended period of time until you can get a job or figure out what to do next. And even better, invest a least a good portion of that which you have saved so that that money also makes you money instead of just sitting there.
I do have a couple of pieces of advice for Scott if he happens to read this thread. Manage the business like you want it and expect it to last forever, and manage your personal finances like the business might not be open for very much longer.
What I mean by manage the business like you want and expect it to last forever is that whenever possible always make your business decisions based on what will be best for the long term, not for the short term. Some not so great examples off the top of my head would be stuff like that extra 50 cents you think you can milk out of people in drink prices might make you more money for a period of time, but it could also be the tipping point that was just enough to make people slowing but surely stop coming to your establishment because they start feeling like they are being fleeced. Or if you start catering to the thug crowd you might see a surge in business for a while because of the new customer base...until your "normal" clientele slowly but surely stop coming because they don't want to be around that and the "normal" customers were 90% of your business. Basically always think about what is best for the long term, not for the short term, and keep in mind that if you treat people fairly and with respect and if they feel like they are getting a decent value for their dollars you will have loyal customers for life.
What I mean by manage your finances like the business might not be open that much longer is basically to save money. Don't spend all that you earn. You might make great money and think you don't have to be careful, but that great money might not last. The reality is that most businesses fail. Even the best businesses can and do go out of business all the time, even after being open for a long time, often for things that are totally beyond their control and even though they did everything right. The landlord might decide not to renew the lease. The building could get sold. A fire could destroy everything. Trends change and maybe something else opens up that becomes the new "it" place, or maybe pool just continues to lose popularity. Maybe zoning changes. Maybe through the worst luck possible there are 4 shootings in the place in a year even though you ran a tight ship and kept the undesirables out and now lots of your customers don't want to come any more, or the city wants to revoke your liquor license. Etc. Start saving money and lots of it right from the start so that if something does happen you have enough money to open another business, or to tide yourself over for an extended period of time until you can get a job or figure out what to do next. And even better, invest a least a good portion of that which you have saved so that that money also makes you money instead of just sitting there.
Only when Dippy Dave stops by to play...I wonder if the security will all be Samoan...
I'm considering traveling from Washington to visit. When is the grand opening? I want to be there when all of the girls are still working there.
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I wonder if the security will all be Samoan...
Only when Dippy Dave stops by to play...