Capitalism relies on survival of the fittest for businesses
20 Oct 2020, 12:09 pm
Fnord wrote:
Nades wrote:
I've been thinking of starting a ghost kitchen. I live in an area with a lot of towns in close proximity and everyone here is obese anyway so I'm sure one would go down a treat here.
How well do you interact with people?How well do you interact with people who want their food prepared only one way (that you don't know about)?
How well do you interact with people who want a complete refund because the food arrived cold (but they ate it anyway)?
How well do you interact with people who were already sick before it even arrives, but who blame their illnesses on the food anyway?
I partially have an intention of just letting a ghost kitchen as one unit with several separate kitchens inside for individuals to rent. Ideally let people rent them at a lower price than a full restaurant and let then get on with all the riff raff that will just annoy me. I guess I could potentially run one but for a start I have no idea how to cook but assuming I get through the mountains of paperwork involved in running one I should be fine with the problems you mentioned. Overall I'm OK at dealing with people.
For the letting aspect that I would prefer. I would need to have a mountain of cash, apply for planning permission, get a commercial property mortgage which is a lot more complex than it sounds as the lending criteria is very strict and I would need to get up to date with the law surrounding it. At the moment I don't know if I can get a commercial mortgage and I'll need to speak to the bank. I also need to speak to chartered surveyors, solicitors and accountants about it.
I'm just a residential landlord runt at the moment and that's hard enough. Commercial property has been appealing to me a lot recently. There appears to be far less competition with it and more opportunity for that sweet, sweet juicy profit margins compared to residential. You said you're a keen investor so it might be worth looking into yourself.
