Chasing my Dream: Why I didn't move forward with the business deal?

Have you ever set up a plan to accomplish a goal? Was this goal something you have been dreaming about, and did it mean the world to you? I've done it several times in my life, and today I will tell you about mine, the reason why I quit, and what I will do to bring it back.

Background on Dickey's

In November 2022, I was doing a lot of research on businesses for sale in Ohio. I found a restaurant called Dickey's for sale, and it brought back the good-tasting pull-pork and ribs I once purchased when I visited another city in Nebraska years ago. So, I set up a meeting with the owner and had a meeting with him. At the end of the meeting, I was ready to make it my own. Even though I never worked or owned a restaurant, I had the emotion and confidence to make it work. I was confident about moving forward with purchasing this Dickey's franchise. I talked the owner down on the price, and it was at a price I could afford. That was going to be mine.

Why did I pick it?

I chose to purchase Dickey's because I love BBQ. I'm a big BBQ cook and love smoking ribs, chicken, brisket, etc., at home. It's one of my favorite foods, and I loved eating as a kid in North Carolina. The price was affordable, and my main goal to own a business would come true. I met a lot of owners of the Dickey's franchise, and I wanted to be successful at running the business like them.

What made me move away from it?

My motivation decreased after talking to other friends and researching how restaurants work. At the time, I didn't want to work over 60 hours a week and be the primary worker doing the cooking, marketing, and sales. Instead, I would like to manage the employees, develop a more significant relationship with the community, and expand it in that city. But, after learning more about their sales from 2022, the cost of rent, and other bills. Not to say how much time I would need to be there to ensure I have good workers. In a restaurant business, you will lose people and gain new people all the time. I felt it wasn't my time. I can't fail. I needed to be more innovative in managing this business. My motivation went away, and fear came and took over. I had to decline the business deal to move forward and decided not to purchase this business.

Will I go back to purchase it?

Absolutely! I learned more about business, financial documents, and the ups and downs of owning a restaurant. The biggest thing that made me move back on the details was learning more about its sales in 2022. As a rookie in that type of business, I would prefer to buy a business that is making more profit and has the potential to make more. I want my first business to be successful. That would have brought in more stress and concerns if I didn't do well.

WHY SHOULDN'T THIS HAPPEN TO YOU?

- Trust in God: The brain will tell you something, but God knows where you should go

- Follow your passion and never give up: Like an athlete, you must always put time into it.

- Commitment: go towards a goal where you can commit a lot to make it work. Don't go after things you don't want to commit time and effort to.

- Love: You have to have love in your goals. You must love the job, people, and being away from family sometimes. It must be a part of your life and define you.

Overall, if you want to buy or open a business, ensure it's the right time for you. Don't invest in a business if you don't want to put your all into it. You have to love what you do and be there to support your community and make it grow. The decision not to purchase this business was a good choice from me. I gain a lot of knowledge and now I back to find a new business to purchase or start. This is my new goal in 2024.

If you have any questions, please leave your comments below.