Marvin Graves Needs Help

[orangefog]

I see what you are getting at here. And, reluctantly, I will give you a hand with getting your wife pregnant. Normally I wouldn't, but you are a good poster.

Ok NASA, judging by your lack of a response, I can infer that I may have misread the situation terribly. Please accept my apology, and note that the offer stands, and it could probably save you about $20k.

 

[OrangeXtreme]

 

[JeffCuse]

Yeah I'm not feeling the same negative sentiment so many of you are here. Guy gave me hours upon hours of enjoyment growing up. I have no problem trying to help him out if I can.

 

[xc84]

When I worked near Wall Street back in the day, the favorite pipe dream of every Trust fund or Bonus Baby was a restaurant.
I counseled literally dozens of clients against it but they all had the "perfect idea" for their restaurant, along with "lotsa friends and families" who couldn't wait to eat there!
I saw so many of those things die on the vine after thousands of dollars were wasted. It became a running joke with our firm; "When all else fails, take the next step and open a restaurant"!

I know. After a few beers they all say, "This place is a goldmine! I want to open up a bar too. I will give you all free drinks!"

 

[Cheriehoop]

Unless you are a top flight restaurant or serve a sustainable and extremely popular niche clientele, there's no money in the food - it's the drinks that earn the cash for restaurants.

 

[AZOrange]

My biggest question is, why doesn't he sell equity rather than asking for a handout of almost $50K?
.

Bingo. There are "right" ways to do this and "wrong" ways. This is the wrong way. Football heroics aside.

 

[AZOrange]

I see what you are getting at here. And, reluctantly, I will give you a hand with getting your wife pregnant. Normally I wouldn't, but you are a good poster.

Wow...I was wondering if anyone would go there. (I knew someone would)

 

[AZOrange]

I know. After a few beers they all say, "This place is a goldmine! I want to open up a bar too. I will give you all free drinks!"

Yeah it's pretty comical. As if when you own a bar you just roll in at 9pm, grab a bunch of cash in the register, grab a drink and hit your favorite stool. Repeat every hour on the hour.

 

[orangefog]

Wow...I was wondering if anyone would go there. (I knew someone would)

My job is to lower the bar here. Basically, by looking this bad, I make you all look good.

 

[texascpa]

When I worked near Wall Street back in the day, the favorite pipe dream of every Trust fund or Bonus Baby was a restaurant.
I counseled literally dozens of clients against it but they all had the "perfect idea" for their restaurant, along with "lotsa friends and families" who couldn't wait to eat there!
I saw so many of those things die on the vine after thousands of dollars were wasted. It became a running joke with our firm; "When all else fails, take the next step and open a restaurant"!

I graduated college with a Major in Accounting and a Minor in Hotel Restaurant Management. My dream was to go into accounting to earn enough money to open my restaurant and then buy a Lamborghini. I told everyone this. Everyone. 25 years later, I'm still in accounting and drive a Nissan Titan.

 

[Roger N]

I graduated college with a Major in Accounting and a Minor in Hotel Restaurant Management. My dream was to go into accounting to earn enough money to open my restaurant and then buy a Lamborghini. I told everyone this. Everyone. 25 years later, I'm still in accounting and drive a Nissan Titan.

A friend of mine in Lake Placid drove a $40,000 car and then opened a restaurant. He now rides in a $150,000 bus.

 

[texascpa]

A friend of mine in Lake Placid drove a $40,000 car and then opened a restaurant. He now rides in a $150,000 bus.

Is that a good thing or a bad thing? lol

 

[Jeepers]

Like I said, there is no advantage to renting. None. You are at the mercy of the landlord. If the area he is located had no properties for sale, then look elsewhere. There are so many questions that need to be answered before you put your business plan to work. As you said the failure rate is extremely high in this business. Lots of people go into this business and they realize after the first week of operation that they made a mistake.

I always like to use Florent to describe this. Guy almost single handedly made the meat packing district trendy, then priced himself out with his success.

Interesting story:
Restaurant Florent Takes Its Final Bows

 

[SUFaninNJ]

A friend of mine in Lake Placid drove a $40,000 car and then opened a restaurant. He now rides in a $150,000 bus.

Does he own the bus or rent it?

 

[billorange44]

I always like to use Florent to describe this. Guy almost single handedly made the meat packing district trendy, then priced himself out with his success.

Interesting story:
Restaurant Florent Takes Its Final Bows

Some landlords want you to open your books too. If you make a nice profit, poof, your rent goes up! If you are serious, have a good plan of operation and the correct demographics, why would you rent? Marvin, my heart goes out to you. I wish you would have came to me sooner as I could have helped you.

 

[OburgOrange]

A friend of mine in Lake Placid drove a $40,000 car and then opened a restaurant. He now rides in a $150,000 bus.

Bring it to the tailgates

 

[OburgOrange]

There was a small pizza shop up here which shut down for too many reasons to get into. Anyway, they started a go fund me to get back into business. People loved the place and donated to get the owners back on their feet. Those who donated are getting their $ worth back in pizza.

This is how it should work

 

[Orangepace]

His first mistake was renting the building. If he rented the building to see how the business would go before buying, that was his first mistake. I have owned a restaurant so I know what I am talking about. If you don't buy the property, don't open a restaurant, rule of thumb.

Especially here in DC. I know exactly what you're talking about.

 

[DomeStranger]

I've seen some successful gofundme pages before but they always have a caveat that if the goal isn't reached then the money will be returned. They also offer packages that grow with the donations.

Packages such as:

$250 gets you $200 in gift certificates and signed photographs of you with Marvin.

$500 for a night of food and drinks for 4 complete with pictures and autographs. Would cost the bar very little (relatively speaking) and you'd probably find people still paying some money anyway. Some people may just save the check and never cash in on it.

In DC, I'm sure you could offer $5,000 - $10,000 packages for a closed party catered event for Xmas parties, weddings, etc. You could get there in no time.

 

[orangeinjersey]

I've seen some successful gofundme pages before but they always have a caveat that if the goal isn't reached then the money will be returned. They also offer packages that grow with the donations.

Packages such as:

$250 gets you $200 in gift certificates and signed photographs of you with Marvin.

$500 for a night of food and drinks for 4 complete with pictures and autographs. Would cost the bar very little (relatively speaking) and you'd probably find people still paying some money anyway. Some people may just save the check and never cash in on it.

In DC, I'm sure you could offer $5,000 - $10,000 packages for a closed party catered event for Xmas parties, weddings, etc. You could get there in no time.

Then you spend the 10k on that private party package and he does out of business before you get your private party

 

[SU2NASA]

Ok NASA, judging by your lack of a response, I can infer that I may have misread the situation terribly. Please accept my apology, and note that the offer stands, and it could probably save you about $20k.

Don't worry, my equipment works just fine and has done the job. I appreciate the offer though. And I'm sure my wife would appreciate your chuckle at her expense.

 

[orangefog]

Don't worry, my equipment works just fine and has done the job. I appreciate the offer though. And I'm sure my wife would appreciate your chuckle at her expense.

Holy cow, I'm sorry. I am an immature douchebag, but I am not insensitive. I would never say anything to hurt you or your wife's feelings. I do wish you luck.

 

[rrlbees]

Bring it to the tailgates

Do we have enough room for a centro bus?

 

[OburgOrange]

Do we have enough room for a centro bus?

There was a bus there last year. Can't remember which game that was?

 

[DeGrozz]

It probably doesn't help that when you Google his bar/restaurant, it says that the hours are ridiculous and that it's closed for most of the weekend (including all of Saturday) and Sunday during NFL games...

It also says a lot that with 3 investors/owners they can't or don't want to come up with the $50K ($17K/person) themselves to keep their business/dream alive.

I hope he rebounds though, but the signs aren't good.