It Sounds Like You've Made A Mistake

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It Sounds Like You've Made A Mistake

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10 ай бұрын

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Пікірлер: 329

@aaronalquiza9680 10 ай бұрын

Sounds like they need both Dave Ramsey and GORDON RAMSAY!

@alinatamashevich3354 10 ай бұрын

Mic drop

@Bibleguy89-uu3nr 9 ай бұрын

That’s a good idea for a show. Ramsay and Ramsay

@bethsheba7 8 ай бұрын

I'd watch that 😅

@Kyumilli 8 ай бұрын

underrated comment lol

@conservativepersonnel8458 8 ай бұрын

This

@sasukesuite1 10 ай бұрын

Moral of the story: never do an adjustable rate loan.

@michaelcarter266 10 ай бұрын

Yeah that is the real meaning.

@ryancraig4811 10 ай бұрын

Except most business loans are floating. Bad timing here with Fed funds going up 5.25% in a year. Sounds like they had no idea how much they’d realistically be making. Look at selling the business and starting over vs selling the house. Renting now is probably more than the current house expense. Good thing they’ve got the military retirement and benefits to fall back on.

@Bibleguy89-uu3nr 9 ай бұрын

Or any loan.

@SRD1281 10 ай бұрын

God help those who own a business but don't understand the definition of the word profit.

@jh26pt2 10 ай бұрын

I am shocked by how many business owners don’t know the difference between gross revenues and net profit.

@drtij_dzienz 10 ай бұрын

You say gross revenue when pitching investors, net profit when declaring taxes 😂

@tristanrodenhauser5267 10 ай бұрын

Mouth on the floor

@RobGoldy 10 ай бұрын

Ever since interest rates rose investors care about net profit too ;)@@drtij_dzienz

@edwardrhoads7283 10 ай бұрын

I am in real estate. There are people who put properties under contract then try to sell the contract. They usually do not understand the difference either between gross revenues and cash flow.

@LL-be5fz 10 ай бұрын

That's why many businesses failed.

@mikeshaw4610 10 ай бұрын

Instead of selling the home. How about selling the business.

@sblijheid 10 ай бұрын

Commercial real estate does not sell. Whole banks have gone bankrupt because of it. If they rent space, they have a multi-year contract. A franchise is a contract also. Given how winter is a dry season for them, only a drug cartel member would buy them out if the FBI promises to give them a Hunter Biden treatment.

@kamilahdouglas1609 10 ай бұрын

Because then they'd have to go back to working for other people.

@Legotech7711 10 ай бұрын

The business is still making money just buy another house you cant buy another business all the time

@blackworldtraveler3711 10 ай бұрын

@@kamilahdouglas1609 They are already working for other people like customers,banks, the IRS,etc… Too much work for my tastes. They need to sell the house they live in while I’m debt free with nine year mortgage and pay cash for mine including rentals. I like my career atmosphere with better benefits.

@r3lativ3lyd3lib3r8 10 ай бұрын

It's a franchise; they may have policies against it. Not 100% sure, I'm just spitballing

@crow-vz5lx 9 ай бұрын

I'm jaded with car payments too. I'm glad I ran into this video. Literally, this morning at 3:30 am. I woke up. And heard some weird noises. I opened my door, and saw a tow truck across the street. Backing up to a Mercedes, picked up the back end, and quietly creeped away. I felt bad, but also looked at my two paid for vehicles . And thought wow. Even in my neighborhood. I moved to a very nice area recently. It really doesn't matter

@bobcantstandzyobitz9778 8 ай бұрын

My Madza 3 has over 375k miles on it, no mechanical issues ever, original clutch. I have zero desire to get rid of it as long as it's running, might actually put in a used engine when this one is done. And it isn't a money issue, I can afford literally any car I want, just don't need to show off.

@valentinolnunez 10 ай бұрын

Must be a smoothie franchise! Demand doesn't drop to zero but definitely drops significantly when the light sweaters come out in Phoenix

@random-nz7dy 9 ай бұрын

Had the same thought that it had to be this type of business.

@bobcantstandzyobitz9778 8 ай бұрын

I immediately thought 700k for an established chain sounds like half as much as I'd expect in gross rev.

@Pablo-cs5sc 10 ай бұрын

I knew she was making a mistake when she thought she was making 700k profit..

@ae3209 10 ай бұрын

Being a business owner is not something to take lightly. It is all encompassing and becomes a part of who you are. I don't think they were prepared for that.

@bidu2379 10 ай бұрын

Exactly

@BrianW211 10 ай бұрын

My dad took a HELOC on his home and drew his social security early to keep my stepmother's salon business afloat. The business still failed, he had a much lower social security income when he retired, and he refinanced the HELOC twice and still had it when he passed away. Don't do it!

@sblijheid 10 ай бұрын

If a business cannot stay afloat with its own profits, it should be shut down.

@maryrenaud6732 10 ай бұрын

@@sblijheidIf they are taking a ‘salary’ out of the business and do not work in the business (just owners) they should throw that money straight onto reducing the loan principal. If they are already paying $4500 a month on the loan, that’s $54,000 a year, yet she stated the home equity of $230 k could pay off the business loan. The $54k annual is 23% of $230k….something is way off with these numbers. We don’t know the actual loan amount, interest rate, time period of the loan, or anything else. 😮

@cw5948 10 ай бұрын

How do business owners not know the difference between gross and net 😂

@zachhoog 10 ай бұрын

Imagine owning a business and having no idea what profit means lol

@DoctorSmartyPants 10 ай бұрын

And no idea what taxable income means either.

@VinodhBalloutBro6711 2 ай бұрын

This woman was kind of an idiot to make this call without her husband who apparently "handles all the numbers"

@mikedoyle5901 10 ай бұрын

If you don't understand profit margin don't own a business.

@DorathyJoy 9 ай бұрын

Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market.

@bernadofelix 9 ай бұрын

The best course of action if you lack market knowledge is to ask a consultant or investing coach for guidance or assistance. Speaking with a consultant helped me stay afloat in the market and grow my portfolio to about 65% since January, even though I know it sounds obvious or generic. I believe that is the most effective way to enter the business at the moment.

@SandraDave. 9 ай бұрын

Please who is the consultant that assist you with your investment and if you don't mind, how do I get in touch with this person

@bernadofelix 9 ай бұрын

My advisor is “ Margaret Johnson Arndt’ highly qualified and experienced in the financial market. She has extensive knowledge of portfolio diversity and is considered an expert in the field. I recommend researching her credentials further. She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..

@nicolasbenson009 5 ай бұрын

I appreciate this. After entering her full name into my search bar, her professional web page surfaced as the top result. Her impressive qualifications undoubtedly speak volumes about her expertise

@cutlerylover 10 ай бұрын

If you call Dave you should know by name to have a cheat sheet in front of you with all your financial numbers for those quick accurate replies lol

@RonniewbNC 10 ай бұрын

“He does the numbers and all that”. It’s her responsibility to know and understand the numbers.

@Dan16673 10 ай бұрын

She says this as she is the one calling

@amendaalmonte2236 8 ай бұрын

Or he should be calling

@wonttakethewidepath7851 7 ай бұрын

Insane response. What if something happens to him, what does she do then? Nothing worse than being a doe eyed spouse that wants to brag about owning a business, but brings in a minimum wage 😑(she thinks). Pitiful

@bres9977 Ай бұрын

Right considering she said “we own a franchise, not “he” owns a franchise:

@random-nz7dy 9 ай бұрын

The only restaurants I can think of in Phoenix that would struggle in the winter or see a lull in sales then would be smoothie places, or maybe ice cream places. The fundamental problem here is that you have somebody who wants to call themselves a successful business owner and yet they have no idea, none, what profit they are making etc. Far too many people open restaurants and busnoness with no real sense of how to run a business, just a "dream", that then becomes a nightmare when the lack of business acumen catches up with you

@cw5948 10 ай бұрын

Went from $700k to $45k 😂

@Nonsense116 10 ай бұрын

Im shocked they bought a franchise and she cant tell you the difference between profit and revenue and she isnt sure on her numbers. I think you may have talked to the spouse of the business owner instead of the business owner at least thats what I'm hoping

@RSBuddie 10 ай бұрын

Sounds like they are coowners, but he probably acts more as the owner while she manages/works there.

@user-mv9tt4st9k 10 ай бұрын

Ouch. It is nail-biting to hear this lady not know how much her business is making (profit). I would not sell my house, I would look into to selling the franchise first.

@ruthirwin8222 10 ай бұрын

They should sell the business and keep the house

@Gunsnwhiskey 9 ай бұрын

$45,000 on $700,000 is 6.5%, which is pretty typical for a restaurant profit.

@winstonsmith3244 10 ай бұрын

It’s a Subway….guaranteed! Sounds like every Subway franchise owner.

@David-wo9un 10 ай бұрын

I am not sure why she wouldn’t name the franchise; chances are she didn’t use her real name or location.

@DoctorSmartyPants 10 ай бұрын

@@David-wo9unYeah, because there is no reason why a restaurant in phx would not do well in the winter.

@dano8613 10 ай бұрын

I was just thinking subway also, mainly because I learned that subway is the easiest franchise to get into. McDonald's for example, requires like a million just in liquid worth or something like that.

@joeriveracomedy 10 ай бұрын

Subway owners in norcal don't sound like her. I can actually decipher HER words!😂

@michaelcarter266 10 ай бұрын

Why is subway a hard franchise to run? Now that I think about it I know of two subways in my area that went away.

@michaelcarter266 10 ай бұрын

Inorder to run a successful restaurant you have to be there all the time to make sure everything is going well.

@alinatamashevich3354 10 ай бұрын

Employee theft is most of it....Shrink

@rbass7674 10 ай бұрын

Wow, and she owns a business.

@fsmoura 10 ай бұрын

not for long

@joeriveracomedy 10 ай бұрын

Daddy at dentist

@randymillhouse791 10 ай бұрын

Cheerleader works at a business owned by bad decision-making guy at dentist. Can't even brush his teeth correctly.

@alinatamashevich3354 10 ай бұрын

@@randymillhouse791 Bingo! A tax write off, nothing more. Any rich part of town is full of these morons

@MrJimmy3459 10 ай бұрын

I can't believe ppl just wander into these things and she can't even say exactly how much the business makes, unbeleiveable

@alinatamashevich3354 10 ай бұрын

Accidental Millionaires as I call them, most go BK tho....

@paulinoaz 10 ай бұрын

Can't make it through the winter in Phoenix? Are you selling snow cones?

@marielang9552 10 ай бұрын

I can't believe she is in business and doesn't know how much she makes!!

@lcmichaels7215 10 ай бұрын

I think this is more a husband project and she's more of an employee. Wrong way to do it, but it's what it appears to be.

@ryankiel4895 10 ай бұрын

She said that her husband knows the numbers but he was gone to the dentist. 🙄 She was totally unprepared to talk to Dave. Pretty much a waste of a call.

@scottshapiro2795 10 ай бұрын

@Ryan, that's what I was going to say. I wonder why she called Dave if she wasn't prepared. It's fine if you don't know the numbers, but if you don't have the numbers, Dave can't really help you. Her could actually be giving bad advice if the numbers are wrong.

@joshuayaller7521 10 ай бұрын

Yeah she just needs to continue to let her husband handle everything.

@adamseidel9780 10 ай бұрын

I don’t own a business and my wife and I work separate jobs. I do all the finances and taxes, so I’m the one that knows exactly what we make. But I can tell you 100% that if somebody asked my wife she isn’t going to say “I don’t know, $700,000?”

@BrandonTalksFitness 10 ай бұрын

How can you own a franchise and not be able to spit out your revenue and net income IMMEDIATELY

@alinatamashevich3354 10 ай бұрын

I know mine to the dollar, everyday

@yourgooglemeister6745 10 ай бұрын

Some people just need to stay employees

@Bo_Knows_Tecmo 10 ай бұрын

This lady and her husband are probably going to be on Kitchen Nightmares next week.

@Mr.Boring_Man 10 ай бұрын

If you're business is profitable, debt repayment shouldn't be an issue. The fact that selling the home to SAVE the business is in question suggests to me the business isn't profitable, they operate at a loss or they break even and feel very insecure about it long-term. Owning a business and actively running a business are two different things. Calling in with zero details and expecting such a life changing answer gives me insight as to how that business is being run. 😮

@maryrenaud6732 10 ай бұрын

Run on wishful thinking!

@jme92685 10 ай бұрын

The fact you don’t know your numbers backwards, forwards and in circles is fucking scary.

@paulinoaz 10 ай бұрын

I get that her husband is "the numbers guy" and he is not there, he is the one who can break down all the numbers for you probably BUT how can you be a 50/50 owner in a business and not at least know how much money it is making? Dave was not asking to break down your monthly expenses or your entire balance sheet, he simply wanted to know how much money it makes.

@grod805 10 ай бұрын

Seriously. Like you don't have to be smart to know you make either $700,000 or $45,000. That's like 15x difference

@adamseidel9780 10 ай бұрын

And not like “I’m not sure if we’re making $100,000 or $80,000” but “I’m not sure if we’re making $45,000 a year or $700,000 a year.” That’s just incompetence to the point she’s hardly even involved.

@random-nz7dy 9 ай бұрын

Very troubling. I can forgive the person who's not the main numbers individual a lack of exact specificity but when you can't even remotely come up with any sort of ballpark figure to simple questions that's a major problem for somebody that wants to be of successful business owner

@dougprentice1363 10 ай бұрын

How could you ot know your approximate taxable income. Or even what that means?

@jimroscovius 10 ай бұрын

Why do people call and not have the numbers??

@donnag7288 10 ай бұрын

OMG. They shouldn’t be in business. No idea what the number is ?

@JiisTube 10 ай бұрын

45k on a 700k gross is 6.4%, and some restaurant owners make that or even less

@resaboutb.9566 10 ай бұрын

Caller evidently has never listened to the Ramsey show. He asked, "What do you take home ... do you know THAT?" Poor caller got spanked, then muted. Dave doesn't suffer fools gladly.

@jimv77 10 ай бұрын

If you start to notice a lot of small cafes and restaurants open and close every month across your city. Tough business if you are actually involved with the daily operations from 10am til 10pm. Going on vacation means not only are you spending money for the vacation, but you are NOT making income…and your overhead expenses is still going on. Hiring too many folks means your overhead increases. After 30 years running a small restaurant and the slowdown of the recession of 2009 convinced folks to get an entry level 9-5 job for less stress.

@saelaird 10 ай бұрын

Not knowing her business numbers is just crazy. What the hell are these people doing? Oh... and never sell your house to fund a failing or underperforming business. That's mental. Somebody between the two of them needs to work harder. Sack a staff member and save an extra 30-40k for a start.

@robloxvids2233 10 ай бұрын

How do you call a live radio show and not know how much you make? Carelessness..

@lcmichaels7215 10 ай бұрын

it sounds like they would be better off to sell the business and get regular 9 to 5s. If both are just working full time minimum wage in Arizona, their gross would be just under $58,000 a year. Even selling at a loss and taking a second mortgage to get the loan paid off would be a better option at this point if they are only making $45,000 a year. To do Dave's idea, they have to triple the net profit. Plus the fact she seems to know little about the actual numbers. It sounds more like the husband is the owner and she's just an employee. Best of luck to them.

@superman9772 10 ай бұрын

it sounds like he makes and she spends...it sounds like he's stuffing savings and reinvesting into the business (which he's probably running like a "hip pocket operation") to build up a "buffer" and she doesn't understand any of it... it's amazing at how dave and crew figure out that people's emotions is what cause these financial problems and give the callers (and audience) brutal but fair reality checks....

@Gus_Chiggins 10 ай бұрын

Glad Jade is there with all her insight. Go get ‘em girl 😒

@MichaelCarrPilot 10 ай бұрын

Only interrupted by Dave a few times. She talked twice and was interrupted the same amount! I bet she won’t be there much longer.

@alinatamashevich3354 10 ай бұрын

@@MichaelCarrPilot On the side of the buildings it does not say "Jade" in 4 foot letters. Drive by , see for yourself.

@MichaelCarrPilot 10 ай бұрын

@@alinatamashevich3354 just because it says his name in big boy letters doesn’t mean he can constantly walk all over his co-hosts.

@alinatamashevich3354 10 ай бұрын

@@MichaelCarrPilot Sorry to inform you how how real life works, he IS the BOSS. And owns the company. Don't like it? hit the door.

@MichaelCarrPilot 9 ай бұрын

@@alinatamashevich3354 seems that’s what several other co-hosts have done, left. Whether or not it was because Dave doesn’t know when to shut up when others or talking or what we don’t know. But, there’s HAS been some turn over in the past.

@unclebenny 10 ай бұрын

Restaurant business is a tough business. Then, on top of that, not knowing your numbers makes for a foggy future at best.

@freedomisnotnegotiable 10 ай бұрын

Explaining a business owner what Profit means tells you everything about the state this country is in… that somebody like this can be a business owner… ridiculous

@alanj9978 10 ай бұрын

@@freedomisnotnegotiable Go to a franchise show, take out a big loan, and profit? /sigh

@nightfangs2910 10 ай бұрын

Sounds like they bought a fast food franchise, heavily overpaid for it, and now foot traffic for fast food is at an all time low because of much higher costs for food etc. and they are at the early stations of drowning in said business

@parkdonkey 9 ай бұрын

“On this new episode of Kitchen Nightmares, we have a special guest Along with Gordon Ramsay - Dave Ramsey.”

@aaronkennedy1090 10 ай бұрын

dave's explaining to a biz owner year 1 accounting practices at a community college no wonder they're gonna fail

@RusskiCommieBot 10 ай бұрын

Food inflation is up 37.5% in the last year. You should raise your prices like everybody else.

@brandonmcmillan9641 10 ай бұрын

How do they get slow in the winter time in Phoenix???? I live in Phoenix

@Undefined14 2 ай бұрын

Selling the house is a mistake. You'll still need somewhere to live. For a practical solution to the problem, I would look at the rates on a HELOC. That $200k loan would cost $1500/mo total in interest on a HELOC, and since the loan they've got now has GONE UP by $2500/mo, they'd bring in $1000+ (probably at least 1500) in cash flow by making the switch. That's the cash flow they need to really start paying down the debt in a real way. If you're gonna be in debt, it best be at the lowest rate you can get.

@LL-be5fz 10 ай бұрын

Businesses with alot of debt are not profitable.

@davidpaul9961 10 ай бұрын

This is giving me ptsd from the pizza place I had for 5 years. Didn’t bring in the money they’re explaining. I was only paying myself $2k a month on our best years.

@bellmattwebb 10 ай бұрын

Don't sell the house. Just work your butt off with side jobs to pay it off.

@DrewLeyMusic 10 ай бұрын

Wonder what percentage of restaurants actually make it? Seems like a lot in my area are shutting down lately

@AmericanWears 10 ай бұрын

Highly depends on the area and how good the place is I think. We still have a restaurant running from the 1700s near me lol. Some from the 1800s, and plenty from the early 1900s.

@primalfury2011 10 ай бұрын

why are the payments going up ? arent they fixed for a certain amount of years.. i never do floating open rate.. hell no !!! I understand franchises require a lump sum...(a subway) usually around 100k then a monthly lease amount 4k.... something like that..or used to.....and you have to buy all their products

@sblijheid 10 ай бұрын

Which is why I don't understand the franchise appeal. You're making some company rich just because you're insanely altruistic?

@djpuplex 10 ай бұрын

Sounds like a sandwich shop those are some of the only franchise restaurants you can get into for so cheap. Wow she has no clue. You can tell who we is.

@freedomworks3976 10 ай бұрын

People hate math

@USNavyVet_STG 10 ай бұрын

This Is A Business Owner?! How Does She Not Know Her Numbers?!

@debbieroberts1611 10 ай бұрын

Encyclopedia of Country Living. Had to buy some of the other books you recommended. I am prepping for me and family who have their heads in the sand.

@norcofreerider604 2 ай бұрын

How do you not know the difference between Gross Revenue and Net Profit as a business owner?

@freakymrq 10 ай бұрын

She shouldve hung up the phone when her husband left, without knowing the numbers Dave can't help.

@jeffkline9191 10 ай бұрын

She should have written it down.

@matthewwilliams9200 10 ай бұрын

Look at bar rescue, do not sell your house, sell your business if you have to but do NOT sell your house. Let the business pay for the debt and if it's not sell the business, do NOT take a loan or sell anything personal to make this work

@alinatamashevich3354 10 ай бұрын

But it is their "dream"

@onionpeeler2023 10 ай бұрын

These people get into business with no idea how to run a business.... Get a business administration or management degree first, then run a business...

@sblijheid 10 ай бұрын

You don't need a biz degree, but you should learn exactly how it works.

@doodybound7761 10 ай бұрын

Something is wrong with the business if the slow season is in winter. Thats when all the snowbirds are in town and going out to eat. Unless its an icecream business which then would make sense.

@suen5006 10 ай бұрын

Or they are in a seaside New England town, where the tourists visit in the summer.

@eggsinsideme 10 ай бұрын

@@suen5006Last time I checked Phoenix was not in New England nor by the sea.

@RSBuddie 10 ай бұрын

@@eggsinsideme Didn't want to name her business, so she could've lied about location as well.

@Comeoffitman 9 ай бұрын

This lady makes a box of burritos sound like a Swiss cake roll

@lot2196 10 ай бұрын

Id hate to be in the restaurant business the next few years.

@rsafree1139 10 ай бұрын

I would have hated to be in the restaurant business in 2020

@bobcantstandzyobitz9778 8 ай бұрын

700k gross on a popular chain restaurant doesn't sound like much. I work on cars and can gross 700k with my own labor, no employees.

@fsmoura 10 ай бұрын

LOL has a business, doesn't know what "profit" is

@BrianaBudgets 9 ай бұрын

It’s hard to make it through the winter in Phoenix, Arizona?

@davidloughrey4841 8 ай бұрын

Jade yet again with some mind blowing advice and thoughts...."uh huh....ummm...uh huh....uh huh....." where would this show be without her?

@JarettHerder 9 ай бұрын

Cant imagine calling in for financial advice and not knowing any of your financial situation other than "We cant afford stuff". Baby step 1A should be write down your financial numbers on paper.

@Andrew--S 10 ай бұрын

Yeah this whole thing is a mess. Huge difference between take home gross income and total revenue.

@MCP168 8 ай бұрын

Their biggest mistake they did was to buy a franchise. Too many overhead cost, including the price of the franchise. They should sell it or give it back to the franchiser.

@thejakelegion 10 ай бұрын

Sounds like you called the wrong Ramsay. You need Gordon to solve your Kitchen Nightmare!

@yasmanygarlobo2058 7 ай бұрын

Omg I feel soooo bad for her. She doesn’t know basic accounting terms. I don’t think she’s involved and that’s scary because if something were to happen to her husband… I’d be scared run this business.

@imveryhungry112 10 ай бұрын

when you run a business you gotta buy the product, rent the building, and pay all the employees

@freedomisnotnegotiable 10 ай бұрын

Why is that??? I thought you get the products for free and sell them and your revenue is your income... this woman was so stupid, just crazy what "business owners" are running around in this country, this country is so broken to its core... time for the big collapse...

@imveryhungry112 10 ай бұрын

@@freedomisnotnegotiable you need to give umraine more money!!! 😊

@dano8613 10 ай бұрын

If you ask the ignorant socialist voting blue, business owners aren't out anything lol

@rayhill5767 10 ай бұрын

I don’t think you know how capitalism works. Just because you fail doesn’t mean everything fails. @@freedomisnotnegotiable

@alinatamashevich3354 10 ай бұрын

@@freedomisnotnegotiable Really? And to think people get mad when these hard working business owners get up in life, like they stole all of it.

@zybard01 10 ай бұрын

If a business owner does NOT know her taxable income, she is bad at business

@cantgetright742 9 ай бұрын

I’m just curious does it ever occur to anyone in here that he does the back end of the business and she does the front end?

@nickgarcia4988 10 ай бұрын

If you do not know the difference between revenue and profit, sell the business tomorrow if possible

@bddaawwgg 8 ай бұрын

Sounds like it's an ice cream shop to see such a decline in winter. Or they rely on seasonal fluctuations like tourism

@monicamcphail9956 10 ай бұрын

This lady should have waited for her husband to call 😂

@Jrmint568 10 ай бұрын

Why isn’t the Buisness loan on a fixed interest rate??

@davidcawrowl3865 9 ай бұрын

"Better than I deserve"...according to whom?

@cathyP1961 10 ай бұрын

Oh my

@mominthe209 10 ай бұрын

Did either have restaurant experience. That means working there not eating there. And being a great home cook does not translate to restaurant chef.

@elvisfan6475 10 ай бұрын

The caller is totally lost

@ChrisBoulas 10 ай бұрын

This lady has a franchise and doesn't even know how much money it makes...

@cutlerylover 10 ай бұрын

clearly her husband has a franchise shes just a helper lol...hopefully she doesnt work too hard...

@fsmoura 10 ай бұрын

lmao WAHMEN!

@matthewferrick3288 10 ай бұрын

I live in Phoenix there is 5 million ppl in the Phoenix Metro area but there is also thousands and thousands of restaurants. You can become a millionaire or go under just as well. My ex wife's parents have owned three restaurants and were very successful but they were amazing chefs.

@lcmichaels7215 10 ай бұрын

how can a restaurant have a slow winter in Phoenix? If anything, I would think the peak summer months would be the slowest due to the hear/

@matthewferrick3288 10 ай бұрын

@lcmichaels7215 she didn't say what the franchise was. It could be an ice cream or shaved ice franchise. Our winters are mild usually with highs in the mid 70's.

@High5748 10 ай бұрын

I could be way off but sounds to me like they need a good cpa to handle the bookkeeping and crunch the numbers so they can make good decisions for the business. I do like the ambition though to start a restaurant, we need more small business. Hopefully they can get through this and survive this crazy economy.

@sblijheid 10 ай бұрын

Ambition paired with woeful ignorance is unhealthy. They should be W-2s.

@marudoethiopia 10 ай бұрын

CPA costs too much for a business that small. They should be able to handle this on Excel.

@alinatamashevich3354 10 ай бұрын

@@marudoethiopia A good CPA is worth every penny! I have a Masters in Accounting / Finance , I have one!

@maryrenaud6732 10 ай бұрын

@@marudoethiopiano way. The first company I worked for had less than 10 employees and was a new business. I talked with President all the time. He said the smartest thing he did was to hire a good accountant and a good lawyer, before opening the doors. He hired great people and made sure he had their full annual salary in the bank before they started, in case he lost some business. If you cannot get good legal and financial advice at the start, you are looking for trouble and betting your investment without protecting yourself.

@gmnorthey 10 ай бұрын

Sounds like a Subway. They make peanuts and Doctors Inc (Subway) treats the franchisees like crap. There are kids with lemonade stands more successful than Subway franchisees.

@realTaylorRobb 7 ай бұрын

Bahama Bucks…

@mxerb5912 10 ай бұрын

Shouldn’t winter be the best season in Phoenix?

@davidloveusa 10 ай бұрын

Ice cream shop?

@mxerb5912 10 ай бұрын

@@davidloveusa it’s still 80 degrees there

@random-nz7dy 9 ай бұрын

Places that serve like smoothies or frozen custard or whatever could struggle a little bit in the winter. It doesn't mean it won't still make sales but they're going to see drastically higher numbers in the summer. However the winters are still pretty palatable in Phoenix so I feel like you've got to find ways to keep people coming in. Rolling out fall flavors, winter flavors, incentive deals etc.

@mxerb5912 9 ай бұрын

@@random-nz7dy the population of Phoenix increases in the winter.

@danielrn133 10 ай бұрын

I think she needs to get her numbers together and call back.

@chookchack 10 ай бұрын

Do all business loan have variable interest rate?

@sblijheid 10 ай бұрын

It's most likely a personal loan. Banks don't give start-ups loans for exactly the incompetence displayed in this call.

@ryancraig4811 10 ай бұрын

The SBA offers fixed and variable options. Both are very expensive. To qualify you have to prove that you have no relevant experience and that no other private lender will take on the risk.

@steelmill 10 ай бұрын

Some people don't need to be in business.

@lukeharris2622 10 ай бұрын

✝️

@warrensloan3467 10 ай бұрын

The problem seems rather clear.

@primalfury2011 10 ай бұрын

hehe thats like manager wages.. not owner wages

@dontjudgeme29 10 ай бұрын

How do you go about selling a franchise?😅

@alinatamashevich3354 10 ай бұрын

Have to get the Franchisor involved , find an "approved" buyer. Problem is, most of the original Franchisees , think they are owed big bucks on a failing business, so they do not get sold. And the location closes.