Name: William Cavalier
Opening Date: Nov. 2012
Company: Gaetano’s Steaks
Location: Philadelphia, PA
As an independent Investment banker in the oil and gas business, William Cavalier identifies and evaluates direct natural resource investments for investors. He is an active member of the California State Bar and has been an expert consultant in matters of securities and broker fraud since 1988.
EJ Grace LLC, (this is the company where I offer the investment banking and consulting services mentioned above) consults on project development and finance in natural resources. William authors a blog, Texas Oil & Gas that discusses the news, industry developments and politics surrounding energy, mining and oil & gas exploration and development.
Recently, Cavalier purchased Gaetano’s Steaks of Philadelphia.
After more than 30 years in the securities industry, I felt that the stock market was no longer a fair measure of free market capitalism but rather heavily influence by politics, high speed computerized trading and international tax policy. I decided that I need a change. I started blogging because I thought that there was a ton of misinformation about energy and natural resource development and thought the public would benefit from a more objective review of this foundation of our economy.
WHEN DID YOU START GAETANO’S STEAKS?
In November of 2012 I purchased Gaetano’s Steaks. The store has been in business since 1969. I had some experience in the franchise industry and have seen small fast food concepts grow to successful local chains. I felt the take-out and delivery fast food business might offer an opportunity because many restaurants do not offer that service. Eventually, I would like to refine a business model based on small stores, operating at high volume serving a 3 or 4 square mile area. Hopefully, I will be able to build a small chain of successful stores and sell to a larger company that wants to roll-out the concept in multiple cities. If you have one location you have a job; if you have several locations you have a business.
HOW DID YOU FINANCE YOUR BUSINESS?
With my IRA. I was looking to generate higher than stock market returns on my capital. With an operating business, you can create an asymmetrical risk-reward. That is, the opportunity exists to earn significantly more money than you risk.
AS A SMALL BUSINESS OWNER, DO YOU BELIEVE YOU HAVE ANY ADVANTAGES OVER LARGE BUSINESSES OR CORPORATIONS? IF YES, WHAT? IF NO, WHY NOT?
Small businesses can make quicker, more flexible decisions. It can be closer to their customers than big business.
WHAT ARE SOME BENEFITS OF OWNING YOUR OWN BUSINESS AND RUNNING IT?
Your time is your own, but most importantly you can reap what you sow.
WHAT KIND OF PROBLEMS DID YOU ANTICIPATE BEFORE YOU STARTED?
Hey, I’m a lawyer. I anticipate thousands of problems. Some may even exist.
WHAT ADVICE WOULD YOU GIVE SOMEONE WHO WANTS TO SET UP THEIR OWN BUSINESS?
Have twice as much capital as you think you need. Get objective consulting advice at least once a month. Just an hour of consulting a month will do wonders to avoid being blind-sided.
WHAT'S THE BEST BIT OF BUSINESS ADVICE YOU’VE EVER RECEIVED?
Keep it simple! Fail quickly. Time is your most valuable asset.
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