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Author Topic: How's business?  (Read 452 times)

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Offline Fyre

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How's business?
« on: June 24, 2022, 12:55:13 PM »
How's traffic and revenue been the past few weeks?

Offline waltertore

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Re: How's business?
« Reply #1 on: June 24, 2022, 01:48:02 PM »
normal
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Offline woodfiredandrew

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Re: How's business?
« Reply #2 on: June 24, 2022, 02:06:02 PM »
How's traffic and revenue been the past few weeks?

I am very curious to know too.
Around here more restaurants are coming on market for sale than last 5 years, I watch local Craig's list vacancies for BOH/FOH and they dropped quite a bit in last 3 weeks that is my barometer for supply and demand. Hourly rates were going crazy until 8 weeks ago now they are reverting to the mean. Everything is going to revert to mean before we see next growth cycle. I can throw more darts at the current situation with statistics i follow but i will pause for others to chime in. Remember stock market is always 4-7 months ahead of economy so more to come....imho.   
People are unreasonable, illogical and self-centered, love them anyway. If you do good, people will accuse you of selfish ulterior motives, do good anyway. Honesty and frankness make you vulnerable, Be honest and frank anyway. If you are successful , you will win false friends and true enemies, succeed anyway.

Offline scott r

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Re: How's business?
« Reply #3 on: June 24, 2022, 02:14:37 PM »
no change for me

Offline waltertore

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Re: How's business?
« Reply #4 on: June 24, 2022, 03:28:18 PM »
From what I can see here in Reno, NV, many places have cut back hours/days of operation.  They say they can't find help.  Quite a few have gone out of business as well.  I watched people move to bigger spaces, open more places pre pandemic.  Since the pandemic many of them have closed locations and kept only their smallest places.  Tony G is all about slice shops since the pandemic.  I know his big space Pizza Rock closed in Sacramento during the pandemic and he is a smart guy and see's the history of the pizzeria - small neighborhood places, which was my model growing up in NJ just outside NYC, and how it has weathered all the troubled times. 

My mother, soon to be 94, came here from Italy during the great depression.  She has always advised me to stay small, simple, in both home, lifestyle, and pizzeria. It was the best advice I ever got considering the times of today.   Our simple menu has allowed me to do all the preps, dough, pizzas.  We will never make the list of top grossing pizzerias, but we can weather any up or down and live an upper middle class lifestyle.  My mother says the pizzeria and Chinese restaurants weather it all. 
« Last Edit: June 24, 2022, 06:21:34 PM by waltertore »
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Offline JWFPIZZZA

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Re: How's business?
« Reply #5 on: June 25, 2022, 06:33:35 AM »
busy as usual. thank god  :-D

Offline Pizza Shark

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Re: How's business?
« Reply #6 on: June 27, 2022, 08:02:30 PM »
My mother says the pizzeria and Chinese restaurants weather it all.

The savvy Commercial Real Estate investors know that an old strip center that has an established mom-n-pop pizzeria or Chinese restaurant (or both), a liquor store, a laundromat, a barber shop or nail salon, and maybe a little C-store of some sort will weather any economic storm that presents.  Add a Check Cashing/Title Lending/Pawn Shop tenant to the mix and it will survive the apocalypse!       

One of the mistakes I think many who decide to enter the pizza business or expand to new locations make is they don't know how important they are to the landlord of the strip center they are looking to lease space from.  That Landlord probably has a bad mix of tenants (BECAUSE HE HAS VACANCY THAT YOU ARE LOOKING AT LEASING!) and if there is no Pizzeria or Chinese restaurant in that little strip center that landlord WANTS YOU!  They just won't admit it. 

Don't fall for the crap high rent they quote everyone looking to lease a space on the first inquiry as this is all about negotiating... What is he willing to pay for and what are you going to pay for?  The more you are going to pay to repurpose that space the less he has to pay and that should mean lower and lower negotiated rent. 

For example, if you are going to invest $50-100K in improvements to that space that will stick with it... (hoods/sinks/bathrooms/AC/etc./etc.) and if your business fails he now has new space that is worth $50-$100K more because he can lease that space to another as "Restaurant improved and health department approved built-out". 

So he knows he'll make more $ on that space if you fail because he can lease it to another after you are gone who now doesn't need to pay for the improvements you paid for. 

Think smart.  Successful Landlords and commercial property owners didn't get where they are by being kind to others and caring about their tenants.  They are all business just as you should be.       

                   

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