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I just bought a magnum ice cream bar at a quick trip gas station in Arizona for $4.75 He’s offering a better experience and a better product for less. Good man!
Youv can make a better experience for your customers too. If its a franchise, see what your allowed to do. You might be able to run various types of parties, such as a bob ross painting instruction where they paint and have ice cream and shakes.
Just love the negative comments, they are always easy to find and they only reflect on the person posting them. The guy hasn’t had the business for long, give him a chance he will make his way through it all. His a hard worker and dedicated to succeeding, kudos to him and for the initiative he has taken and to his support family. Thankyou CNBC make it for the video. 😊
I think we all love what he is doing and I applaud him for making this step, however it hurts that he paid so much for this business and had to take on so much risk for so little returns.
Keep in mind this business has been operating for atleast 6 years, because of their ice cream donuts, the word of mouth travels, ive personally taken many friends there just for that reason. They are not in the best location for foot traffic with there flagship store, the Mesa location seems much better! I’ve been going to the phx location for years. Yes right now his profit margin is currently 2-4% but clearing as he said it’s because his reinvesting, I would imagine if he is able to expand to even more locations, Scottsdale, Sedona, flagstaff, Tucson and a mobile operations for farmers markets and festivals/first Fridays (which is HUGE in phx) etc….. I’d imagine in the next five years his profit margins will be ALOT higher. The store has been proven to work already, now he just needs to be passionate, focused and continue to expand
People really think you invest in a business and the next day you’re a millionaire lol it takes time when you’re building a business, being a entrepreneur isn’t just about money but putting in the hard work and making sacrifices and being happy about building something. Nothing in this life is easy and anything that is worth it takes time to build.
Yes...im astounded by the expenses for running this place and profit margin of 2-4%? I mean really? Even a layman would tell you at those margins you won't survive long.
@@zeus30862-4% cause reinvesting back into the business. Lucky there’s any profit right now. Even if you start a lawn service and want to expand, that’s gonna take your profits too
you know you can rig the ratings with enough money right? just call google adsense. you can remove negative reviews as well and add positive reviews the same way artificially.
He is definitely working off his high-end. If you divide 1.2 mill. And let's say he is open for 16 hours a day 7 days a week. He has to sell 2 1/2 ice creams a minute.
When I first started building. My parents where my bank in the 80’s. I would build a spec home and pay them 10% of 20% margins. Basically split profit. They invested into me. I wanted them to profit.
This was not a good investment. The margins are not good. There is no room for error. He definitely bought the business for too much money. Finance costs are also eating away his margins. He might have to increase price to increase gross margins, focus on increasing sales while keeping expenses as stable as possible. Managing cashflow will be vital. His cashflow statement should be his best friend. Good luck!
Yes, in this economy $5 for an icecream is nostalgic but in order to run a profitable business that can provide a good exit I’d day 60-80% profit should be the target. Expenses will eat at that but there’s other ways to increase cash flow like selling a digital product, catering for hospitals with larger budgets or coming up with a profitable retail product.
This is correct. I have an ice cream business and get 65% gross margin, which is considered fairly low. He is making 35%, no idea why thats the case. Also, all that ferrying stock from here to there. He paid over 20x net profit for this business, the seller must have been very happy with themselves! (unless freeholds included)
It was a good shot considering his age. But those margins are really low. Speaking from experience where I built a $7 million per year business you gotta be closer to at least 10% profit to survive and make any money personally. I’m now retired in my 50s so it can be done With some hard work early on and mixing in a little luck as well
Margins are lower in the food business. He is lower than the norm, 12% +/- 2%. What must be sustained and built on is what the original owner established, a cult following based on the outstanding product quality. I was one of his first customers. If he starts cutting corners on quality, there goes the business.
Do you mind sharing what your business was in general, or at least the industry? Any other tips? I'm 28, been saving hardcore for the last 3 years to start or buy a business soon to replace my job and overwhelmed by all the possible routes. No one else in my family has ever gone the entrepreneurial route so I'm scraping around for guidance.
@@tylertylertyler555 there are several business consultants, some even on RUclips, that show you some of the most successful businesses now and for the future. Most of them tend to be service businesses. Some people want to talk about Amazon and all this other stuff but to be frank only about 3 to 5% of people make money on Amazon so it’s not a good choice. So service businesses such as Landscape, Pool service property management and things like that are the way to go. Yes very competitive but if you get up and you show up you will make it. I also recommend the trades because those are a dying breed such as air conditioning, plumbing, etc.
He’s making 40k a year and probably stressed and working all the time to keep things afloat. Thats the problem with so many small biz stories- they put a headline like “pulls in 1.5 mil a year” … oh ya? Whats his take home pay? Often times you have a business but at the end of the day he’d make more working a corporate job. I love entrepreneurship but these videos sugar coat it. Most small business owners struggle and grind just to get by.
He's only in his 2nd year of business. His goal is expanding so he pays himself the 40k and the rest goes to investing to get more locations so let's see where he is at in 5 years, he'll most likely be earning wayyyy more
lol you guys don’t understand he pays himself a salary 40k- he doesn’t tell you how much goes into the business account if he files as an S corp. He says 2-3 percent margin AFTER reinvesting the money for growth. He is determined to make his own multiple store chain- eventually it will be bringing him a lot. He is in growth mode- not earn mode.
Very inspiring to anyone out there wanting to start a business! I love how he was humble & transparent about receiving financial support from his family.
Dude I have a shop it’s just me and one girl. That’s it. We hustle and this part of the biz intimidates me with the logistics of having all these moving parts but I know I need to grow more to reach that level .
Biggest goal should be labor costs. If he wants to make money, he's the one that's going to have to sacrifice and work 70 - 80 hours a week. Labor costs could be the biggest expense and if he could do multiple roles himself, he should. I started a deli when I was 25 without much knowledge on how to run a business. But being 35 now, I know a lot. He's trying to expand too quickly and it's not a good idea in my opinion. He's being overly ambitious and that could be his downfall. Good luck to him though.
If you are not in the financial market space right now, you are making a big mistake.I realize that it could be due to inexperience, but if you want to make your finances work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)
Same here all thanks to Mrs Jeffrey Kathryn, she has always been there to guide me through with detailed analysis and recommendations that I wouldn't have access to otherwise.
After I raised up to 325k trading with expert Kathryn I bought a new House and a car here in the states also paid for my son's surgery (Oscar). Glory to God shalom.
Usually it's risky trading the crypto market even as an expert but then professional advise and guidance is always the best else losses becomes inevitable.
My man went from preventing cavities to giving cavities 😂😂 I'm looking to build a ice teuck from a 70s bread truck (p10) and start selling gourmet ice cream. Looking forward to building my business. Way to go my man
This channel has two extremes: Young 20 to 30 somethings who become super successful early on and have 7 figure net worth AND 30 and early 40 somethings struggling. There's not a person who said they're multi millionaires and financially independent at 58 after being broke at 45.
@SuperDoctorprofessor exactly how to capitalize when you run a 2 shop operation lol.....the business is not scalable. let's face it, 90% of small biz fail within their first two years, and with a margin of 4%, he needs to get margin to 20-25% to have a chance of survival. If you ask me, quitting dental school is stupid, at least finish school get that degree
His salary is $40,000 a year not $48,000. I wonder his cost of operations because it seems that his business is leaking money. His salary is approximately 3.25%. Still feel like his company is overspending somewhere and leaking profits. I wonder how many shops he opened.
-$110 investment from his parents (w/ no mandatory interest) - no dental school loans to pay off (very likely due to family wealth) -- and family probably paid for his living costs throughout college. This is why he could leave his career path after only 3 years. - Has enough money to drive a Tesla - Does he rent an apartment? Or live in a home where his family made the downpayment? This all makes even $40k/yr salary MUCH more feasible. You're not a "hater" or "jealous" for observing this information -- they are major advantages. If you want to start a small business from scratch with no family investment, the journey is more difficult.
shawn story is a powerful reminder of the importance of family support and smart financial planning in navigating the complexities of small business ownership. It's inspiring to see such dedication and forward-thinking in action! 🍦
He’s growing wayyyy tooo fast. He needs to slow down and focus on his product. The product will then sell itself without multiple locations and buying $30k trucks when he’s only making $40k. The growth YTY is wayyy too small for this much capital investment. I just hope his family gets their money back in the end. Otherwise, I guess it’s just an advance on his inheritance.
I just watched another story about an Ice Cream shop in Texas that lost $3000.00 of ice cream because of a hurricane, and he said he was going to have to shut down. A woman started a Go Fund Yourself campaign so he could afford to stock more ice cream for his store. Meanwhile this guy is netting 1.2 million dollars in after tax profit off two stores?
I wonder how he did the math/research to find out that $110,000 down on a 1.1 million dollar loan would be profitable. I'm sure he may have not predicted 1.2 million dollars per year in returns, but still the calculations for those margins must have been a massive risk factor starting right off. Anyone have any thoughts?
I'd rather see all that milk go to kids and cats, not frozen and mixed with a huge pile of sugar. Many parents nowadays have no idea how nutritional a warm glass of milk is for a kid, yet the kid gets ice cream multiple times a week which just trashes the kids inner equilibrium for multiple days. Dairy is a scarce resource, we should not ruin it, and make sure it gets to the kids in unadulterated form so they get strong bones and such. Especially kids who's mothers cant or dont breast feed through the full 3-4 years even partially.
Competition, market saturation, and monopolies are this person’s main enemies here when it comes to making it with this business. In addition to inflation and other types of costs. I took business courses, so I have an idea as to what he’s going through.
Hold on a second! He took no salary in 2023 and made $1 million in sales. In 2024 he will take a $40k salary with $1.4 million in sales. His math is NOT mathin'.
exactly how to capitalize when you run a 2 shop operation lol.....this is not silicon valley where it's easy to scale, let's face it, 90% of small biz fail within their first two years, and with a margin of 4%, he needs to get margin to 20-25% to have a chance of survival. If you ask me, quitting dental school is stupid, at least finish school get that degree
I agree. He got overly ambitious and that might come back to haunt him. Especially since he's trying to expand so quickly. He's going to have to cut a lot of labor costs and do things himself, even if it takes 14 hours a day, everyday. I don't know his work ethic, but if he thinks that being a restaurant owner means that you could cruise through life with just money coming in, he's heavily mistaken.
No wonder if I earned earned 100k a year at my job I could save and buy a business. Its always people earning over 100k doing this never people earning under 50k doing this. If you were earning over 100k at your dental job then why would you need to borrow from your parents?
Numbers are not great, but hopefully he can become extremely efficient and get some bigger outside investment to keep growing it. It hasn't even been a year since his takeover, so stop hating. Hopefuly the cnbc publicity will help.
Step 1. get 110k loan from family. Step 2. own a brand new tesla Step 3don't need to take any kind of wage for at least a year and still live comfortably. They should rename this channel to CNBC Already There through generational wealth
Do you have an interesting job or a nontraditional career path? Click the link to apply to be featured in a future episode of On The Job. forms.gle/6VduycnomynZiYSG9
I just bought a magnum ice cream bar at a quick trip gas station in Arizona for $4.75
He’s offering a better experience and a better product for less. Good man!
Youv can make a better experience for your customers too.
If its a franchise, see what your allowed to do. You might be able to run various types of parties, such as a bob ross painting instruction where they paint and have ice cream and shakes.
Just love the negative comments, they are always easy to find and they only reflect on the person posting them. The guy hasn’t had the business for long, give him a chance he will make his way through it all. His a hard worker and dedicated to succeeding, kudos to him and for the initiative he has taken and to his support family. Thankyou CNBC make it for the video. 😊
Statistically, odds are not in his favor
I think we all love what he is doing and I applaud him for making this step, however it hurts that he paid so much for this business and had to take on so much risk for so little returns.
They don't reflect the person posting them..what nonsense..learn to see life as it is..😊
Very cool that your family was willing to help on the journey! And the honesty behind the initial sources of your funding.
a full 180 degrees, not 360. love your business!! you are an inspiration 🍦
its 360, since he is still contributing to the dental market 😂😂
Jason Kidd moment
That’s why he didn’t get through dental school 😂
His dad is in fantastic shape 😊
Trt
Keep in mind this business has been operating for atleast 6 years, because of their ice cream donuts, the word of mouth travels, ive personally taken many friends there just for that reason. They are not in the best location for foot traffic with there flagship store, the Mesa location seems much better! I’ve been going to the phx location for years. Yes right now his profit margin is currently 2-4% but clearing as he said it’s because his reinvesting, I would imagine if he is able to expand to even more locations, Scottsdale, Sedona, flagstaff, Tucson and a mobile operations for farmers markets and festivals/first Fridays (which is HUGE in phx) etc….. I’d imagine in the next five years his profit margins will be ALOT higher. The store has been proven to work already, now he just needs to be passionate, focused and continue to expand
you seem to know a lot about businesses? if i wanted to open up a power washing business, how would i find clients?
I love seeing parents/family helping their kids. That is a blessing.
Always nice to see these videos, keep em coming
People really think you invest in a business and the next day you’re a millionaire lol it takes time when you’re building a business, being a entrepreneur isn’t just about money but putting in the hard work and making sacrifices and being happy about building something. Nothing in this life is easy and anything that is worth it takes time to build.
They make the catching headline sound like he's making 1.2 million profit. IN SALES. They don't mention profit.
Yes...im astounded by the expenses for running this place and profit margin of 2-4%? I mean really? Even a layman would tell you at those margins you won't survive long.
it said he was taking home $40k. Not much considering the stress of running your own business
@@zeus30862-4% cause reinvesting back into the business. Lucky there’s any profit right now. Even if you start a lawn service and want to expand, that’s gonna take your profits too
He didn’t even make 1.2 mil in sales. Hes projected to.
@@OurPastSecretsthat’s all that’s not great that’s less than 5% net.
Dang place has almost 2,000 reviews and 4.9 stars! That’s amazing
you know you can rig the ratings with enough money right? just call google adsense. you can remove negative reviews as well and add positive reviews the same way artificially.
@sammy it really is
Yes that place has had excellent reviews, tried it few times before he purchased it. Did well and will continue..
Really appreciate his transparency!
Yall need to stop hating. This man got family support and built a business. Don't act like you never got help. Smh
He is definitely working off his high-end. If you divide 1.2 mill. And let's say he is open for 16 hours a day 7 days a week. He has to sell 2 1/2 ice creams a minute.
Y'all all need help......
@@goobergelslady and that ain't happening
$110k..... what world do you live in?
What's the utility bill for an ice cream shop in Phoenix? I'm genuinely curious 🤨.
When I first started building. My parents where my bank in the 80’s. I would build a spec home and pay them 10% of 20% margins. Basically split profit. They invested into me. I wanted them to profit.
You should want them to profit
Im hapy for this man.
Many blessings to all.
This was not a good investment. The margins are not good. There is no room for error. He definitely bought the business for too much money. Finance costs are also eating away his margins.
He might have to increase price to increase gross margins, focus on increasing sales while keeping expenses as stable as possible. Managing cashflow will be vital. His cashflow statement should be his best friend. Good luck!
Yes, in this economy $5 for an icecream is nostalgic but in order to run a profitable business that can provide a good exit I’d day 60-80% profit should be the target. Expenses will eat at that but there’s other ways to increase cash flow like selling a digital product, catering for hospitals with larger budgets or coming up with a profitable retail product.
He WAYYYY overpaid. To invest that kind of money and have all that risk and only make about $40,000 a year is not worth it.
This is correct. I have an ice cream business and get 65% gross margin, which is considered fairly low. He is making 35%, no idea why thats the case.
Also, all that ferrying stock from here to there.
He paid over 20x net profit for this business, the seller must have been very happy with themselves! (unless freeholds included)
@@joelriley4850 What is freeholds?
The net margin 2-4% after financing growth & paying debt, so this margin expected to shoot up.
Ice cream makes perfect sense in a state that is so painfully hot
There’s competition in that, too.
It was a good shot considering his age. But those margins are really low. Speaking from experience where I built a $7 million per year business you gotta be closer to at least 10% profit to survive and make any money personally. I’m now retired in my 50s so it can be done With some hard work early on and mixing in a little luck as well
how much did you sell the $7 million per year business for?
@@Ja-3108 almost 8 mil
Margins are lower in the food business. He is lower than the norm, 12% +/- 2%. What must be sustained and built on is what the original owner established, a cult following based on the outstanding product quality. I was one of his first customers. If he starts cutting corners on quality, there goes the business.
Do you mind sharing what your business was in general, or at least the industry? Any other tips? I'm 28, been saving hardcore for the last 3 years to start or buy a business soon to replace my job and overwhelmed by all the possible routes. No one else in my family has ever gone the entrepreneurial route so I'm scraping around for guidance.
@@tylertylertyler555 there are several business consultants, some even on RUclips, that show you some of the most successful businesses now and for the future. Most of them tend to be service businesses. Some people want to talk about Amazon and all this other stuff but to be frank only about 3 to 5% of people make money on Amazon so it’s not a good choice. So service businesses such as Landscape, Pool service property management and things like that are the way to go. Yes very competitive but if you get up and you show up you will make it. I also recommend the trades because those are a dying breed such as air conditioning, plumbing, etc.
Have you ever gotten sued. Any product liability insurance? Should I be worried
He’s making 40k a year and probably stressed and working all the time to keep things afloat. Thats the problem with so many small biz stories- they put a headline like “pulls in 1.5 mil a year” … oh ya? Whats his take home pay? Often times you have a business but at the end of the day he’d make more working a corporate job. I love entrepreneurship but these videos sugar coat it. Most small business owners struggle and grind just to get by.
That’s chump change I make way more than that as an employee in tech. Wouldn’t even consider running a business it ain’t easy and there is volatility
Yeah but you also own the business and can sell it one day. So while you take home a small salary, you may end with a huge lump payment
If he calculates his hourly wage, he'd make more money working at Costco full time with benefits, paid vacation days, etc.
He's only in his 2nd year of business. His goal is expanding so he pays himself the 40k and the rest goes to investing to get more locations so let's see where he is at in 5 years, he'll most likely be earning wayyyy more
lol you guys don’t understand he pays himself a salary 40k- he doesn’t tell you how much goes into the business account if he files as an S corp. He says 2-3 percent margin AFTER reinvesting the money for growth. He is determined to make his own multiple store chain- eventually it will be bringing him a lot. He is in growth mode- not earn mode.
He’s only 27? Can you please post some older people so that I don’t feel so behind in life? 😢
Life isn’t a competition, buddy 😉
Why does age matter?
Wow...stop it. There is a blessing in the neighborhood. I tap into this blessing. My business would be the next million dollar sensation.
@@anoukc6928 This is all a competition.
No the younger the better
Shop location??
Great paying back interest to your DAD.
Food and beverage is a tough business. So much work with very little margins
Very inspiring to anyone out there wanting to start a business! I love how he was humble & transparent about receiving financial support from his family.
small business arent a joke!from a fellow business owner who worked solo!
Dude I have a shop it’s just me and one girl. That’s it. We hustle and this part of the biz intimidates me with the logistics of having all these moving parts but I know I need to grow more to reach that level .
Well done, and thanks for sharing your business insights.
I am trying to start an ice cream business in London all based around English flavours. I can't wait to have my own ice cream shop someday!
Biggest goal should be labor costs. If he wants to make money, he's the one that's going to have to sacrifice and work 70 - 80 hours a week. Labor costs could be the biggest expense and if he could do multiple roles himself, he should. I started a deli when I was 25 without much knowledge on how to run a business. But being 35 now, I know a lot. He's trying to expand too quickly and it's not a good idea in my opinion. He's being overly ambitious and that could be his downfall. Good luck to him though.
What is your profit 🤔
Your prices are amazing.
If you are not in the financial market space right now, you are making a big mistake.I realize that it could be due to inexperience, but if you want to make your finances work for you, prevent inflation from eroding your savings, build generational wealth, and cultivate good habits and financial knowledge, you must be in the market.
The wisest thought that is in everyone's minds today is to invest in different income flows that do not depend on the government, especially with the current economic crisis around the world. This is still a good time to invest in gold, silver and digital currencies (BTC, ETH... Stock)
Same here all thanks to Mrs Jeffrey Kathryn, she has always been there to guide me through with detailed analysis and recommendations that I wouldn't have access to otherwise.
After I raised up to 325k trading with expert Kathryn I bought a new House and a car here in the states also paid for my son's surgery (Oscar). Glory to God shalom.
But trading gets risky and a lot of person loose funds to it
Usually it's risky trading the crypto market even as an expert but then professional advise and guidance is always the best else losses becomes inevitable.
Old man is a unit 💪
My man went from preventing cavities to giving cavities 😂😂 I'm looking to build a ice teuck from a 70s bread truck (p10) and start selling gourmet ice cream. Looking forward to building my business. Way to go my man
What the heck is “gourmet” ice cream?
I'm just craving ice cream now
Glad to hear an owner who knows his numbers.
Especially in the food industry. With all the customers that say 'Oh, I didn't like this, can I get a refund?'
This channel has two extremes: Young 20 to 30 somethings who become super successful early on and have 7 figure net worth AND 30 and early 40 somethings struggling.
There's not a person who said they're multi millionaires and financially independent at 58 after being broke at 45.
Give it time …he can make it. Congrats and keep going and cutting cost
27???? HOW???👀 He looks close to 40🤯
Why don't YOU show us your face, and we'll see how old YOU look, hater
White people don't age well
He probably works 12 hour days, 6 days a week
Arizona sun lol
He’s white that’s why
Why is he only making 48k!? That’s insane! He must be improving in the profit overtime
What was it making before you bought it
did i heard right and he said 27? if thats the case then you can see how stressful this business is . he for sure has taken a beating.
Awesome, up front, honest and personal story!
Ice cream is not a lot of profit. 1.2 m is gross sales, but how much is actual profit??
so 4% margin, at 1.2MM = $48K/year, he better stick to dentistry, unless he can improve that margin
Said due to reinvesting to capitalize growth.
@SuperDoctorprofessor exactly how to capitalize when you run a 2 shop operation lol.....the business is not scalable. let's face it, 90% of small biz fail within their first two years, and with a margin of 4%, he needs to get margin to 20-25% to have a chance of survival. If you ask me, quitting dental school is stupid, at least finish school get that degree
His salary is $40,000 a year not $48,000. I wonder his cost of operations because it seems that his business is leaking money. His salary is approximately 3.25%. Still feel like his company is overspending somewhere and leaking profits. I wonder how many shops he opened.
Minimum wage pays more!
He’s now every dentist’s best friend!
Can you title the profit in terms of net revenue instead of gross? It's kinda clickbait
Can’t expect much from NBC
Love his hustling! Please keep this type of content coming! 🔥
Wow ! Very impressive ❤
From treating cavities to creating them : )
I do not see his numbers, but cross my fingers for him!
-$110 investment from his parents (w/ no mandatory interest)
- no dental school loans to pay off (very likely due to family wealth) -- and family probably paid for his living costs throughout college. This is why he could leave his career path after only 3 years.
- Has enough money to drive a Tesla
- Does he rent an apartment? Or live in a home where his family made the downpayment?
This all makes even $40k/yr salary MUCH more feasible.
You're not a "hater" or "jealous" for observing this information -- they are major advantages. If you want to start a small business from scratch with no family investment, the journey is more difficult.
What is their profit though? $1.3M in gross sales, but what in costs?
shawn story is a powerful reminder of the importance of family support and smart financial planning in navigating the complexities of small business ownership. It's inspiring to see such dedication and forward-thinking in action! 🍦
So, 1.3 mil in sales a year.. 40k income..
I wish him luck but he shouldn't have quit his day job and used the 110k to go to dental school.
2-4% operating profit margin seems very low.
It’s common in the food & beverage industry.
he has to be holding some stuff back, cause my pizza place makes 25% margins and its self running
He said it's around 35% but the rest gets reinvested
@@innerDialectic 35% is gross margin, some operating costs for paying 20 people monthly might not be included there.
@@anoukc6928 It's not.
I had to rewind this, 27? No way. Don't look 27 at all. No way
@zdrux First commented this. 4% margin is so low. 40k in Arizona is not much money. Hope he makes more in the long run.
I'm 60 years old today. Having been self-employed from the age of 20. You are chasing nickels with dollars.
Us heads who grew up with parents living check to check. Can't fathom our parents just loaning us $100k must be nice.
110k family loan. Dang I would have loved that to be able to start my real estate company.
He’s growing wayyyy tooo fast. He needs to slow down and focus on his product. The product will then sell itself without multiple locations and buying $30k trucks when he’s only making $40k. The growth YTY is wayyy too small for this much capital investment. I just hope his family gets their money back in the end. Otherwise, I guess it’s just an advance on his inheritance.
finally good videos again
A staff compliment of x 10 per store seems way too high for an ice cream shop that isn't making anything at the shop, and just selling scoops.
So his dad bought him a 40k a year business for 1 million dollars nice
His dad is hot. Can your mom fight? Asking for a friend 😂😂 Congratulations. Ignore the negative gremlins.
Geez! 😂😂
I learned recently that dentists have high rates of depression and tendency to self harm. That may not have been the best career pathway for him.
I just watched another story about an Ice Cream shop in Texas that lost $3000.00 of ice cream because of a hurricane, and he said he was going to have to shut down. A woman started a Go Fund Yourself campaign so he could afford to stock more ice cream for his store. Meanwhile this guy is netting 1.2 million dollars in after tax profit off two stores?
I wonder how he did the math/research to find out that $110,000 down on a 1.1 million dollar loan would be profitable. I'm sure he may have not predicted 1.2 million dollars per year in returns, but still the calculations for those margins must have been a massive risk factor starting right off. Anyone have any thoughts?
Main ways to build wealth, stocks, real estate, start a business, good for him.
I'd rather see all that milk go to kids and cats, not frozen and mixed with a huge pile of sugar. Many parents nowadays have no idea how nutritional a warm glass of milk is for a kid, yet the kid gets ice cream multiple times a week which just trashes the kids inner equilibrium for multiple days. Dairy is a scarce resource, we should not ruin it, and make sure it gets to the kids in unadulterated form so they get strong bones and such. Especially kids who's mothers cant or dont breast feed through the full 3-4 years even partially.
Hang in there!
He could've started his own company with under 200k. I hope it works out for him.
Competition, market saturation, and monopolies are this person’s main enemies here when it comes to making it with this business. In addition to inflation and other types of costs. I took business courses, so I have an idea as to what he’s going through.
Hold on a second! He took no salary in 2023 and made $1 million in sales. In 2024 he will take a $40k salary with $1.4 million in sales. His math is NOT mathin'.
As soon as he is driving Tesla.. I’m out🤦♀️🤷♀️ Dude didn’t “make it”😅
exactly how to capitalize when you run a 2 shop operation lol.....this is not silicon valley where it's easy to scale, let's face it, 90% of small biz fail within their first two years, and with a margin of 4%, he needs to get margin to 20-25% to have a chance of survival. If you ask me, quitting dental school is stupid, at least finish school get that degree
I agree. He got overly ambitious and that might come back to haunt him. Especially since he's trying to expand so quickly. He's going to have to cut a lot of labor costs and do things himself, even if it takes 14 hours a day, everyday. I don't know his work ethic, but if he thinks that being a restaurant owner means that you could cruise through life with just money coming in, he's heavily mistaken.
So after all expenses, what is the net profit?
$10,000
Got 100k from my parents... must be nice to come from rich huh
Dude looks 40 😅
So he copied the concept of Afters Ice cream? 😂
Is afters ice cream a socal exclusive ice cream shop?
Copying is a form of art. Nothing new
only $40k net income? i thought ice cream had better margins..
It’s called putting money back into the business
No wonder if I earned earned 100k a year at my job I could save and buy a business. Its always people earning over 100k doing this never people earning under 50k doing this. If you were earning over 100k at your dental job then why would you need to borrow from your parents?
To share the risk and the profits eventually
Numbers are not great, but hopefully he can become extremely efficient and get some bigger outside investment to keep growing it. It hasn't even been a year since his takeover, so stop hating. Hopefuly the cnbc publicity will help.
This guy looks 39.
lol... poor guy, he's had a hard life... working as son of daddy
The guy seem very stressful like wtf I got myself into?! 😬
Prices high, portions tiny. No thanks
So delicious. I like Ice Cream
Sorry this was a horrible investment.
poor guy only making 40k a year after spending 1.1 million…
Absolutely amazing how some people literally have no listening skills. He reinvest back into the business.
he chooses to pay himself 40k and reinvest back into operation
this is a bad business . he could have bought 3 houses and rent would be more , plus he would make a profit immediately
After expenses he will be left with 20k
Step 1. get 110k loan from family. Step 2. own a brand new tesla Step 3don't need to take any kind of wage for at least a year and still live comfortably. They should rename this channel to CNBC Already There through generational wealth
Someone’s jelly
He’s definitely bullshitting his net profit for the camera. Uncle sam is always watching and he’s smart for this lol
stingy ice cream scoops.