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Losing a Restaurant

post #1 of 6
Thread Starter 

I just lost my restaurant and am having a hard time dealing with it

 

I was in business for 1 year and sales were good..my food cost was right (27%) labor was good (17-22%) overhead very low

 

I started a new concept in a small town outside of Houston and was really developing a good following and client base.

 

My place was in  historic building owned by the city an they denied renewing my lease on the building and I now find out they gave it to the owner of the restaurant down the road.

 

I feel it was politics due to the fact I offered to pay 50% of Lease up front to protect my investments and still got denied

 

Have a job but really struggling with accepting losing my place this way  

 

ANY ADVICE WELCOME

 

and yes I have attorneys

post #2 of 6

Jeez---You were robbed---------That's an outrage. 

 

After only a year in business you have not had time to recoup your lease hold improvements---

 

Yikes---I have nothing to add other than amazement----there is something rotten going on in the government of that town. ---Mike-----

post #3 of 6

Several thoughts come to mind, in no particular order.

What do your lawyers say about the situation-the terms of your lease, retention of equipment and product, compensation by the city for loss of product and equipment? That's a rhetorical question by the way but there should be something more to the situation than just closing and walking away. 

2. Find another building and lease to own or buy it outright. 

3. Whether or not this is over is entirely up to you. Keep the job and move on or keep the job until you figure out the next iteration of the restaurant. 

4. If you should decide on another lease, make sure it is for long term, say ten years with an option to buy. 

post #4 of 6
Quote:
Originally Posted by cowboy View Post
 

I just lost my restaurant and am having a hard time dealing with it...

 

...Have a job but really struggling with accepting losing my place this way  

 

ANY ADVICE WELCOME

 

I have to admit that would really chap my hide as well.

 

Many times I find myself struggling with an issue and resentments are building. When I finally figure out that I don't like the way it is making me feel and that I am tired of feeling that way, I put the issue down and go on my way. Until I do that, I am going to continue to feel the way that I do.

 

Life goes on,... do I?

 

The other day, my wife and I were having lunch at a streetside taco shack which, by the way, happens to have a cult following. Sitting outside and eating, the flies were fairly annoying. My wife was so busy swatting flies that she could barely find time to eat. The more she tried to control the flies, the more the flies controlled her.

Wisdom comes with age, but sometimes age comes alone.
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Wisdom comes with age, but sometimes age comes alone.
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post #5 of 6

I would have to ed the lease and conditions of it.

Chef EdB
Over 50 years in food service business 35 as Ex Chef. Specializing in Volume upscale Catering both on and off premise .(former Exec. Chef in the largest on premise caterer in US  with 17 Million Dollars per year annual volume). 
      Well versed in all facets of Continental Cuisine...

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Chef EdB
Over 50 years in food service business 35 as Ex Chef. Specializing in Volume upscale Catering both on and off premise .(former Exec. Chef in the largest on premise caterer in US  with 17 Million Dollars per year annual volume). 
      Well versed in all facets of Continental Cuisine...

Reply
post #6 of 6
You seemed like your tore up about it. So, that means that you should get back and own your own business again. If at the time, it can't be an actuall restaurant because of financial reasons. Do something else like a Food Truck. I have owned an actual restaurant and I own a Foo Truck now and I like the food truck better. If you have any questions concerning how to get started with that...feel free to ask.
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