last night i went down and checked out J's new place.
it's bare bones to say the least. they dont have weights, mats, or anything other than raw drive and ambition. i can admire that, but i see where the term "fools rush in" comes from.
the space has potential. i'll give them that. but there is a LOT to be done in order to make it a fitness place.
and her bf Mi? he's going to be trouble. he operates a karate studio and is ok with bare bones stuff and rough and crudely put together rubber floors that he insists are ok for fitness junkies. it's not. i predict slips and toes being caught in between these seams.
not only that, they are hell bent to open sept 1st, which is tuesday. FIVE days from today. they will not be here this weekend. not only that, they both work full time jobs as it is and they declare that this is a hobby.
honestly? the concept is great and i think they'll have a following, but they are far too ambitious with what they have and i think they havent done enough planning to get this off the ground.
for one, they dont have a business license. you *kinda* need something like that. as well, you NEED a gst number. it's not an option. PERIOD. i spoke to Mi about this the other day and he figures that the studio is privately owned, so therefore no gst number is required. uhm, try and run that past the CRA. i think they've also put everything in their names, which is foolish because it makes them personally and financially responsible for any missed or skipped payments. and finally, i dont think either of them have thought about insurance...they'll be fucked five ways from friday if someone gets hurt on the premesis.
and it isnt my concern by a mile, but i dont think that either of them will make enough money to pay the rent or utilities just to make the place work. sure, they might be able to cover a couple of month's rent, but once utilities and other expenses dip into that, they're screwed. i am not sure if either of them have explored the idea of financing or going through entre corp (a local small business assistance program...financing, advice, etc), but it might be worth checking out. at least they'd have some kind of business plan or proposal if they went and talked to someone in the know about opening a business.
both keep maintaining that they dont want this to be their life. i get that. but if you refuse to put in the hard work to start it up, expect problems. yes, it might cost them hours initially, but if they work hard now, they should reap rewards later.
i'm just glad that i havent partnered up with them. i think that Mi would drive me nuts after a while with his "good enough"-ing.
Thursday, August 27, 2009
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last night i went down and checked out J's new place.
it's bare bones to say the least. they dont have weights, mats, or anything other than raw drive and ambition. i can admire that, but i see where the term "fools rush in" comes from.
the space has potential. i'll give them that. but there is a LOT to be done in order to make it a fitness place.
and her bf Mi? he's going to be trouble. he operates a karate studio and is ok with bare bones stuff and rough and crudely put together rubber floors that he insists are ok for fitness junkies. it's not. i predict slips and toes being caught in between these seams.
not only that, they are hell bent to open sept 1st, which is tuesday. FIVE days from today. they will not be here this weekend. not only that, they both work full time jobs as it is and they declare that this is a hobby.
honestly? the concept is great and i think they'll have a following, but they are far too ambitious with what they have and i think they havent done enough planning to get this off the ground.
for one, they dont have a business license. you *kinda* need something like that. as well, you NEED a gst number. it's not an option. PERIOD. i spoke to Mi about this the other day and he figures that the studio is privately owned, so therefore no gst number is required. uhm, try and run that past the CRA. i think they've also put everything in their names, which is foolish because it makes them personally and financially responsible for any missed or skipped payments. and finally, i dont think either of them have thought about insurance...they'll be fucked five ways from friday if someone gets hurt on the premesis.
and it isnt my concern by a mile, but i dont think that either of them will make enough money to pay the rent or utilities just to make the place work. sure, they might be able to cover a couple of month's rent, but once utilities and other expenses dip into that, they're screwed. i am not sure if either of them have explored the idea of financing or going through entre corp (a local small business assistance program...financing, advice, etc), but it might be worth checking out. at least they'd have some kind of business plan or proposal if they went and talked to someone in the know about opening a business.
both keep maintaining that they dont want this to be their life. i get that. but if you refuse to put in the hard work to start it up, expect problems. yes, it might cost them hours initially, but if they work hard now, they should reap rewards later.
i'm just glad that i havent partnered up with them. i think that Mi would drive me nuts after a while with his "good enough"-ing.
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