Dunbar Plumbing Forums - Northern Kentucky's 1st DIY Plumbing Forum
OFF TOPIC DISCUSSIONS => Northern Kentucky - Greater Cincinnati News and Events => Topic started by: DUNBAR PLUMBING on May 18, 2013, 08:49:46 PM
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http://cincinnati.com/blogs/dining/2013/05/17/tom-and-chee-swim-with-the-shark-tank-and-get-a-deal/ (http://cincinnati.com/blogs/dining/2013/05/17/tom-and-chee-swim-with-the-shark-tank-and-get-a-deal/)
A great success story of two guys that got tired of working for the big man, started with a 10' by 10' tent and made a go at it selling grilled cheese sandwiches in a variety of many styles and choices.
The idea has worked so well that the makers of "Shark Tank" have committed to 600 grand towards the success and growth of the business.
With that investment, hard math divulges what the cost of that opportunity truly is.
The owners of Tom and Chee wanted the luxury of 5% ownership for $600,000.00 and the reality became the counter offer of 30% of ownership to obtain access to that 600 grand.
That is a sizeable amount of ownership, considering they just made a deal with the devil for that promise of growth in opening multiple locations. Add in taxes, there's almost 70% going somewhere other than your back and a lot of people are making money by your efforts to pull off the success story.
Sometimes business ownership can be touch and go, and sometimes defeating. We all understand that in business, there is sacrifice, always. This sacrifice means spending a lot of money, a lot of work, and a lot of patience waiting for the gift of success with others following the design to make you money. Not always does it work, but I give anyone credit for trying very hard to grow and become bigger.
Sometimes though, getting "bigger" is not always the prudent answer. There's the implied rush when in business when it comes to money. The more you make, the better you feel the more secure you think your next decision can be. What can become of that feeling can lead into a dangerous spot, especially when spending changes of those you rely on to pay the bills.
I wish the best of Tom and Chee in their endeavors. Their company name is catchy, I've never heard of a grilled cheese food restaurant before and like always, success costs money to happen. Hopefully this thread can be revisited years from now and they have a national reach with many lining up out the door to sample their good food. :sign0098: