evandyk
Senior Member
In this particular case, thinking you could do it with $60K from your pension, which is what you're meant to retire on .... is extremely unrealistic.
This is so many people. They all think owning a restaurant is easy, it's like "my wife and I throw amazing dinner parties.... let's open a restaurant" I was a server at a restaurant owned by a retried dentist. He bit off more than he could chew and lost everything, he even had to sell his house. Another young entrepreneur i knew, blew his money trying open a high-end cafe/restaurant in an old building he bought downtown. He ended up owing people millions of dollars and committed suicide. Owning a restaurant isn't as fun and easy as people think it is... Once those doors are locked at night you're still not closed.
What a disastrous cautionary tale. Interestingly, I googled the Beech Tree and it's still operating (9 years now), so whoever took it over after the original owner badly mismanaged it clearly has a better approach to things.And went in knowing the stats - that 80 (I think it is closer to 90%) of new restaurants don't survive the first year or two. It's like adventurism went horribly wrong.
AoD
What a disastrous cautionary tale. Interestingly, I googled the Beech Tree and it's still operating (9 years now), so whoever took it over after the original owner badly mismanaged it clearly has a better approach to things.
722 Landsdowne Avenue. Doesn’t need a thread so put it here. Great Main Street renovation. View attachment 458821
Astoria are planning to open in the former Otto's Bierhalle space at Dovercourt & Queen West. It's from the same folks behind Bar Poet (across the street), and is described as a French American bistro & cocktail bar:
www.instagram.com
Are they allowed to take the exact same name as the place in Greektown, given that they are both restos?