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Sunday, August 16, 2020

Looking at the Latest Troubled Restaurant Chains

Still Think a Self-Managed Restaurant
Makes Sense?

5 Steps to help you avoid Financial Ruin


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5 comments:

  1. From Elizabeth Breier...to...Anthem Opinions 

    Another great article.

    The problem is will the board members all read it?

    Will the members of the restaurant committee read it?

    They’re the ones who need to be aware that they are on a fools mission.

    ReplyDelete
  2. From Barry Goldstein...to...Anthem Opinions

    Great article Dick.

    I guess we dodged a bullet.

    ReplyDelete
  3. Liz, in my mind, no matter what evidence you provide, the Perstein's and Linow's of this community have no concern as to any of these damaging facts.

    Add these two to some on the restaurant committee, as well as, the diehards and other blogger who believe they are "entitled" to everything...at the expense of others.

    We tried to tell people both were unfit for election to the Board, and it appears in this case, we seem to be dead on with our conclusion.

    We're stuck with Linow for another year and and a half, but we can rid ourselves of Perstein in the next election if he chooses to run again.

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  4. From Robert Latchford...to...Anthem Opinions

    The idea of even considering a restaurant in these troubled times is beyond comprehension, when good, well established eateries are falling like flies,but some optimism must prevail as i assume the panel of residents with food and beverage experience are offering their welcomed advise.

    It sure beats the last board's action over the last few years in jumping at the chance to allow the Denny’s franchisee to pick our pockets, thinking it the opportunity of a lifetime.

    Then realizing the errors in their ways, hires an expensive consulting firm, to receive opinion that their only chance of survival was a self managed “beer & burger" pub.

    It will be interesting what hands-on experience come up with.

    I do not claim to have managed or even worked in the food and beverage industry, but have a pretty fair knowledge of retail business.

    Without traffic going past your operation, one undeniable factor that must be realized is that without that, your business will lack the “cha-ching"element,that being the sound of cash registers.

    A restaurant pushed way back off the servicing roads, with virtually that only traffic being from the residents, it appears to be a lost cause.

    One way to partially compensate for a sub-par location is by advertising. 

    Ads, designed to hit your marketing area . can help but also double whammy your cash flow. 

    The cost of newspaper and mail out brochures is expensive, and to excite potential diners, the product sold must be reduced sufficiently which drops your gross profit down the drain.

    We need convincing evidence from the experts before this can chance even the best of times .

    ReplyDelete
  5. From Barry Goldstein...to...Anthem Opinions

    Please note this article:"Pizza Hut to close up to 300 locations operated by bankrupt franchisee"

    https://www.cnbc.com/2020/08/17/pizza-hut-to-close-up-to-300-locations-operated-by-bankrupt-franchisee.html

    ReplyDelete