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DA_T_84
06-22-2010, 07:14 PM
Hey gang,

So my dad turned 60 on Saturday, and is still in between jobs. He has always been a damn fine home-cook, and has 5 or 6 solid products (bbq sauce and rub) that numerous people have told him that he needs to sell. He finally said "eff it" this weekend after much encouragement from my brothers and I. What the hell else is he gonna do? And when the hell else is he gonna do it?

Brother 1: A 31 year old successful lawyer
Brother 2: A 29 year old successful insurance entrepreneur that has his own company
Brother 3: (me) A 24 year old with a solid marketing/branding background with some decent connections in the area.

Tonight we got him incorporated as an LLC.

Outside of our particular areas of expertise, are there any of you who have been in this boat? Advice? Suggestions?

notorious
06-22-2010, 07:18 PM
Listen to Brother #2. He understands the commitment.



You do have a nice setup with having access to a lawyer, insurance agent, and another brother (yourself) with a lot of time.



Get ready to be the worker.


BTW, you need to be 100% commited. Anything less and you will fail.

shitgoose
06-22-2010, 07:20 PM
Head to South Africa for some guerilla marketing at the World Cup.

Worldwide exposure!

Duck Dog
06-22-2010, 07:20 PM
I own my company, we are set up as a C-Corp. Is he starting a BBQ joint or just marketing his sauce and rub?

Duck Dog
06-22-2010, 07:22 PM
Listen to Brother #2. He understands the commitment.



You do have a nice setup with having access to a lawyer, insurance agent, and another brother (yourself) with a lot of time.



Get ready to be the worker.


BTW, you need to be 100% commited. Anything less and you will fail.

Good advice and you are a big step ahead with an attorney and insurance agent already on board.

DA_T_84
06-22-2010, 07:30 PM
I own my company, we are set up as a C-Corp. Is he starting a BBQ joint or just marketing his sauce and rub?

BBQ sauce is phenomenal. (although I'm sure everyone thinks theirs is)
Dry rub
Taco Seasoning
Chili

and a couple other sauces, marinades, dressings, etc.

But the initial focus is on the BBQ sauce.

Ebolapox
06-22-2010, 07:30 PM
if he's going the restaurant route, good luck. a very high percentage of restaurants (franchises included) go belly-up the first year. it's almost impossible to operate in the black the first year, and only marginally easier the second year. if you can make it to years 3-5, your chance at success increases drastically.

notorious
06-22-2010, 07:38 PM
If I had a choice to add another business to my resume, an eating establishment would be dead last on the list.



Insane hours
Shitty profit margins
Insane hours
Employee headaches
Insane hours
Customer headaches
Insane hours


Bartending for 7 years at a Bar/Grill in a previous life taught me to avoid owning anything to do with restaraunts.


Just because it isn't for me doesn't mean that you should avoid it. I just want you to be aware of the down side to that type of business.



If you are starting up, keep it small and simple. Have a defined chain of command and defined responsiblities.


Oh ya, the two most important tips I can give you are.......


Answer the phone

Pay your taxes

Phobia
06-22-2010, 07:47 PM
He either needs to be a marketing guru or win some contests with the sauce - that's a pretty saturated market.

One of my friends makes the most amazing sauce I've ever had and it is gaining traction in the market but he maintains his own FT employment elsewhere. He's placed several times at area contests and the Royal.

Mojo Jojo
06-22-2010, 07:51 PM
Get a great creative team for product names and labels. Be prepared to spend A Lot of time and energy to get the products on stores shelves...not as easy as you think. Enter every BBQ contest that has a fan vote award...this goes a long way in selling your product to stores or online. Select a reliable seasoning/sauce company for mass mixing and bottling.

Good Luck.

Iowanian
06-22-2010, 07:54 PM
I'm in the middle of starting my 2nd business(in addition to first)...I'm going to be a Tycoon.


It sounds like you've got a good family resume' for self employment....but holy shit are you going to have to work more than at your job.

Also, my advice is be SURE you can do business with your family and that you can work through conflict, because it will happen.

Establish your roles and chain of command early on.

Good luck!

Mr. Flopnuts
06-22-2010, 08:00 PM
Heh, it's always the marketing guy that gets no love right Dante? It's an incredibly important aspect of starting a new business, and your pops is definitely going to need your skills.

Good luck with it.

notorious
06-22-2010, 08:04 PM
Heh, it's always the marketing guy that gets no love right Dante? It's an incredibly important aspect of starting a new business, and your pops is definitely going to need your skills.

Good luck with it.

Marketing and Sales is one of the most important, if no the most important aspect to any business.


My flooring business exploded once I got my sales technique down.

RJ
06-22-2010, 08:49 PM
Marketing and Sales is one of the most important, if no the most important aspect to any business.


My flooring business exploded once I got my sales technique down.


I forgot you were in the flooring business.

I'm still considering opening up on my own but this economy worries me.


Dante84, why aren't you more like your brothers?



:D I kid, I kid!

Duck Dog
06-22-2010, 09:02 PM
Two words. Due diligence.

threebag02
06-22-2010, 09:04 PM
Head to South Africa for some guerilla marketing at the World Cup.

Worldwide exposure!

Don't forget to wear your rape condom...

...best of luck on the business side of the deal too.

ChiTown
06-22-2010, 09:10 PM
Hey gang,

So my dad turned 60 on Saturday, and is still in between jobs. He has always been a damn fine home-cook, and has 5 or 6 solid products (bbq sauce and rub) that numerous people have told him that he needs to sell. He finally said "eff it" this weekend after much encouragement from my brothers and I. What the hell else is he gonna do? And when the hell else is he gonna do it?

Brother 1: A 31 year old successful lawyer
Brother 2: A 29 year old successful insurance entrepreneur that has his own company
Brother 3: (me) A 24 year old with a solid marketing/branding background with some decent connections in the area.

Tonight we got him incorporated as an LLC.

Outside of our particular areas of expertise, are there any of you who have been in this boat? Advice? Suggestions?

No offense, but how solid of a background can you have at 24? 2 years out of school?

Do your homework and good luck. I've been in business for myself for years - its extremely hard work and mainly thankless.

DA_T_84
06-22-2010, 09:35 PM
No offense, but how solid of a background can you have at 24? 2 years out of school?

Do your homework and good luck. I've been in business for myself for years - its extremely hard work and mainly thankless.

Fair question. 3 years out of school. And I should have clarified - for my age. A solid background for my age.

I had a 2 year internship with a leading international communications firm; I worked in film promotions for a year and a half which grew my network in the city exponentially and provided me with insight into multiple different marketing techniques. I currently am with a growing mixed media company that has a loyal and growing following here in KC. I am just getting a hang of ad sales, but in the mean time I am lending my branding knowledge and watching the company take shape from start-up to solid.

Not to sound arrogant, but I am confident in my experiences and my network here in kc, and I know that I can be of service to my pops.

To answer other posts:
- No, he doesn't plan on going the restaurant route. Just products.
- Yeah, the market is a billion percent saturated, especially here in KC. We're going to have to get creative. That's where I come in.
- He isn't looking to grand slam it and become bazillionaire; this is more of a hobby that is taking shape into a career. He doesn't have a family to support anymore, so this is almost like a retirement venture.
- You're damned right us marketing guys get no respect!! :thumb::shake:

DA_T_84
06-22-2010, 09:36 PM
Also, we aren't starting a big family business. We are just aiding him along in the process and will obviously put in hours since we all are emotionally invested. It's our dad's sauce, gol-damnit.

googlegoogle
06-22-2010, 09:45 PM
what's an insurance entrepreneur ?

DA_T_84
06-22-2010, 10:27 PM
what's an insurance entrepreneur ?

He sells different policies for multiple different companies; he incorporated himself and has his own business.

Tits McGee
06-22-2010, 10:33 PM
If I had a choice to add another business to my resume, an eating establishment would be dead last on the list.



Insane hours
Shitty profit margins
Insane hours
Employee headaches
Insane hours
Customer headaches
Insane hours


Bartending for 7 years at a Bar/Grill in a previous life taught me to avoid owning anything to do with restaraunts.


Just because it isn't for me doesn't mean that you should avoid it. I just want you to be aware of the down side to that type of business.



If you are starting up, keep it small and simple. Have a defined chain of command and defined responsiblities.


Oh ya, the two most important tips I can give you are.......


Answer the phone

Pay your taxes

Now, everyone jump on Yelp and piss and moan about the soup was too hot etc.......... Good times.

Tits McGee
06-22-2010, 10:36 PM
I own my company, we are set up as a C-Corp. Is he starting a BBQ joint or just marketing his sauce and rub?

Do not do a C Corp. All C Corps are automatically audited by the IRS.
Years ago the 5 year rule was the standard, it's now 7-8.

Duck Dog
06-22-2010, 11:28 PM
Do not do a C Corp. All C Corps are automatically audited by the IRS.
Years ago the 5 year rule was the standard, it's now 7-8.

That depends on how the business was financed.

GoHuge
06-22-2010, 11:46 PM
He sells different policies for multiple different companies; he incorporated himself and has his own business.So he is an insurance broker. Exactly what I do.

First off I wish you all the best of luck. I think it's great that someone takes their idea and tries to make a go of it.

Your biggest problem is you are entering a market that is beyond saturated in the BBQ capitol of the world. What is different or unique about your product? I seriously doubt it is that much different than the hundreds of products here locally that everyone thinks is great.

What is your business plan? What is your marketing strategy? What are your manufacturing costs? What are your realistic goals? What do you need as far as facilities? How many employees will you need? How much are insurance costs going to be? You need to have an absolute concrete plan and cost estimate for every question I just posed.

When we are talking about marketing why is store or customer XYZ going to even try your product in the BBQ hub of the world? What makes your product different, better, or worthy of putting on their shelves in place of brand names that people know?

Don't get me wrong Dante like I said I'm pulling for you buddy, but your trying to climb uphill on a greased slip-and-slide with this particular idea is this market. Best of luck to you and your family. You will need it.

Hog Farmer
06-23-2010, 02:53 AM
Marketing your Dads sauce sounds a little creepy.

Inspector
06-23-2010, 05:49 AM
I had to get out of the male prostitution business cause all the ladies kept demanding their money back.

tooge
06-23-2010, 07:05 AM
I'm doing exactly what you guys are doing but about 9 months ahead. I have tons of info for you that might save you some headaches, as well as some pretty good contacts I have picked up along the way. PM me.

ChiefButthurt
06-23-2010, 10:09 AM
Marketing your Dads sauce sounds a little creepy.

ROFL rep

vailpass
06-23-2010, 10:41 AM
Marketing your Dads sauce sounds a little creepy.

:D