Investing in a Fish & Chip Shop

pdiddy32

I'm considering investing in a Fish & Chip Shop, as first time buyer, any tips?

pdiddy32

My aim is within 2 years

Ebe_Scrooge

What do you mean by "investing" - buying it and running it yourself ?

Before investing in any business, you need to be looking at the books for last couple of years. What's the turnover, expenses and profits ? Is turnover increasing, decreasing, remaining flat ? If buying a business, why is the current owner selling - are they retiring, or is it no longer a viable business ?

How much money are you going to invest ? How long will it take to recoup your investment based on current performance ? When will you start seeing a profit ?

soolin

What do you know about the market and what do you mean 'invest in'?, are you buying an existing premises or establishing a new one?

robotrobo

pdiddy32 wrote: »

I'm considering investing in a Fish & Chip Shop, as first time buyer, any tips?

its a criminal offence to batter the fish!:rotfl:

motorguy

pdiddy32 wrote: »

My aim is within 2 years

Investing money in a business with no experience is a great way to make a small fortune - out of a large one.

Get a job in a chippy even part time to see how it all works, and what works well, what doesnt work, and what keeps the customers coming back.

From there, and when you're ready, theres a myriad of things to be looked at - why are they selling? No really, WHY are they selling? Who sells a goose thats laying golden eggs? How long have they had it (less than two years is an indicator they are losing money), whats the hours like, how do the accounts look? do they have any money 'off the books'?, can they evidence that? is there a new shopping unit opening close by? Has a new chippy opened recently that could be hitting figures but not yet on the accounts? Is the price they are asking realistic? Do you have the funding for a LARGE deposit before you approach the bank?

barry9999

The only thing I can offer is if you do decide to go for it, try to offer gluten free fish and chips. You'll have punters coming from miles away.

soolin

barry9999 wrote: »

The only thing I can offer is if you do decide to go for it, try to offer gluten free fish and chips. You'll have punters coming from miles away.

I agree, a very growing market and one I would be interested in!

However, OP has never been back to MSE after his initial post so I assume it was a off the cuff decision and not really anything serious.