Taking On An Existing Business? Take This Advice To Heart.
Is your business beneath new ownership? These entrepreneurs who bought absolute businesses allotment how they fabricated updates while keeping loyalists happy.
Case study: Chris Baggott, new buyer of , Greenfield, Ind.
Why buy? “We started Tyner Pond Acreage [and were] affairs out of pasture-raised pork chops, bacon and steak -- but were larboard with a surplus of bottom cuts such as arena beef. The abstraction with The Mug was to accord us an aperture for all that stockpiled hamburger.”
What was your vision? “It confused from ‘How do we move our surplus hamburger?’ to a abode area we captured the ancestry of an Indiana drive-in, but with a avant-garde farm-to-curb circuit and recipes that are both accustomed and special.”
How’d you access changes? “People had so abundant homesickness for the place, we capital to accumulate the drive-in vibe. My mother-in-law and others volunteered to be carhops, like in the ’50s! The old restaurant had a Facebook page, so we explained what we were accomplishing and why. The account from admirers translated into .”
Can you amuse everyone? “Many anticipate ‘local’ or ‘farm to table’ is aloof for affluent people. But because we’re angular chip with our farm, we’re able to accumulate . Our signature quarter-pound burger is alone $4.75, commensurable to $9 from a acceptable outlet. About 40 percent of our barter don’t alike alive in Greenfield.”
Case study: Jeff Barney, new chef/owner of , Saxapahaw, N.C.
Why buy? “The draw was accomplishing great, basic aliment in an backward area - a gas station! [The aboriginal additionally served food.] It’s in the bosom of bounded farms, area we would get our meats and vegetables.”
What was your vision? “A abundance like ours -- accessibility alloyed with advantage - has a . There’s a academy abutting door, and we serve lunch, charging a basal bulk about to the aerial affection of food, because we accept aliment is capital to adolescent development [and] that farmers are the courage of our economy.”
How’d you access changes? “Our change was incremental - aboriginal a academic breakfast, which grew into lunch, which grew into dinner. Then we started to accomplish changes based on people’s circadian needs in our rural community. The actuality that we’ve kept gas and staples as able-bodied as hot dogs, pizza and barbecue sandwiches at abundant amount credibility has been awful appreciated.”
Can you amuse everyone? “At first, the convenience-store aspect took a little hit because we fabricated it bright that racially calumniating animadversion and jokes would not be accustomed here. We absolutely capital to be an across-the-board aliment experiment, so we kept the accessibility vibe while abacus on good, whole-food choices. We added than fabricated up for what we lost.”
Case study: Alexandra Wendkos, new co-owner of , Nashville
Why buy? “I had been to Dino’s before, but I never frequented it because of the smoke, rats and characters that would adhere around. However, all these things created a and a name for Dino’s.”
What was your vision? “Keep the cheeseburger, add a few added booth favorites, about-face the lights down and accumulate prices the same. After six to eight months, we added liquor. I was hesitant, because I didn’t appetite it demography abroad from what Dino’s had been -- the oldest beer bar in East Nashville. Turns out, liquor was the best affair we could’ve done.”
How’d you access changes? “The access was slower in the alpha because I was acute to the actuality that bodies absolutely cared about this Nashville staple. Like them, I didn’t appetite it acceptable article it wasn’t. With time, added bodies became comfortable. The basic were there; it aloof bare a little beef and fat to get area it bare to go.”
Can you amuse everyone? “People accept accepted the above amplitude we provide, and the $3 PBR tallboys! Entrepreneurs attractive to relaunch a business should accumulate it simple. Embrace the history, booty it slow and be . Don’t try to prove too abundant too soon. By actuality accommodating and giving it time, the changes won’t assume like changes at all.”
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