Shock and Awe31 May 2007
One rule I've been following when blogging about our new business is "no numbers"... which is too bad, since the numbers are the second-most fun part of the business (but not nearly as much fun as the people you work with). If you're really curious, you can check at mcdonalds.de things like the average annual sales per restaurant or how much equity is required to become a franchisee.
Yesterday we got our first formal financing offer, and it was somewhat breathtaking to see the monthly payment in black and white. It's one thing to have a line in your projected P&L for debt service, it's quite another to have a concrete payment schedule with a payment that well exceeds our former gross salaries. Then the enormity of our undertaking becomes clear.
Then you blink a couple of times, look at the plan again, and wonder if you're getting a good rate. Maybe the second offer will be a tenth of a percent cheaper...