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I Thought That In Order To Increase Profits, You Need To Open New Outlets
What initially seemed like a good idea quickly crumbled beneath them.
An acquaintance of mine, Sebastian, shared the story of the downfall of his small business venture.
Sebastian had a nice car and a successful business. He’s (still) tall and has a nice personality and appearance — but no business.
Here’s the story.
A couple of years ago, Sebastian and his two friends decided to launch a pancake house named “Pancake Street.”
Why pancakes?
With numerous pizzerias and sushi bars in town, the pancake niche appeared to be untapped. They aimed to target younger people, believing that homemade cuisine and affordable prices would be a winning combination. Their vision was to create a network of small pancake shops.
Initially, they invested around $20,000 in the business. They secured a loan and also utilized their personal savings. They assembled the staff before the official opening, and on launch day, they found themselves behind the cash register and overseeing distribution.
Their idea seemed to be working.
