My life changing career move begins Monday
 

After spending literally my entire life in the printing business (born into it) I was burnt out and grew to hate it. I was looking for a new beginning and after thinking long and hard about it and hearing that there was a deal that fell through I approached the owner (who I know) and am buying a restaurant/bar.

I'm closing on it Monday. I know everyone says it's so hard, you're going to work 18 hour days, etc...etc... It's a successful, established business that is "The place" to go in our town and it draws people from many of the surrounding towns. It's a restaurant first with a great bar that lots of people come to and watch games. I've been off of work for 5 weeks and have been working there and learning for the last several weeks.

It's never been a dream of mine to own a bar but this is a business opportunity. I'll run it as a business first like I did with our family printing business years ago. The staff is very excited for the change. I'm retaining all staff and am not changing anything (well, maybe a few tweaks). I'm excited and can't wait to begin. :cert:

Here's a link to the website (which I will improve)...

3 Corners Grill & Tap

If anyone happens to be in the Chicago area give me a shout and I'll buy you a beer. :datawiz:

Congratulations. Hope you have crazy success! :datawiz:

Damn Frank, that's awesome! All the luck to you making this a successful venture. :cert::datawiz:

Best of luck in this new venture, Frank!

:cheers:

Thanks Craig. Wait times on Fri/Sat nights are upwards of 45 minutes at times. I've got some ideas of how to reduce that. When I mention them to the owners brother who runs the place he's always like "wow, that's a good idea. I didn't even think of that".

Good Luck Frank!!!! Might want to keep the previous owner as a consultant for a while.

I'm sure you'll do great, congrats! :cheers:

This all sounds good! :cert:

Good luck and hopefully some day I can just walk in and ask for my free beer.. :D

The brother who runs it is staying on for at least a couple months. Eventually he'll gradually step away but it won't be until Jan/Feb. Plus, to make sure they stay vested I have them carrying some money. Most likely I'll pay them off early but wanted to keep them interested having me be as successful as possible.

PLEASE take this story as a word of CAUTION, not to scare you off on the venture......

Some 35 years ago, in a burb outside Wash DC, an old friend owned Bish Thompson's restaurant and bar, and expanded it to cover a small strip mall it was on the main drag with parking behind....Billy inherited it from his Father, Bish.....but kept the name as he grew the business

He hired one of his buddies as a night manager who closed the joint at 1-2 AM each night.....and took the carry bag across the street into the bank night depository......which habit got him kill outright for the some 60 grand, yes 60 grand of deposits, much of which was CASH, and a few CC charges.....

don't forget, this was before plastic money and Mag stripes.....so all based on paper.....or metal......

So the bastards just blew him straight away, and stole the days receipts.....


just watch your ass, please.......damnit.......:sadangel::sadangel::issues::cert:

Best of Luck Frank. I am sure the way you work it will be a success. :seasix::shots:

What an awesome life adventure. Good luck. :cert:

Thanks, I appreciate it. Deposits are made the next day, never at night. The business is 80% CC. Not that it matters to thugs.
Thanks Paul.
Thanks Lars. I've had other things in my life where I said "we should do this" or "we should do that" and didn't then someone else did and it was a success. When I heard they had a deal to sell and it fell through I new they would at least listen and I said to myself "if I don't do this someone else will buy it and I'll be pizzed" so I jumped in.

Welcome. :seasix:

I've known a few restaurant/bar owners. Dome go broke. Others are huge success. I do know this: to be successful you have to run a tight ship. And a few key employees you trust with your money is essential.

If you get in trouble. Here's the go to guy:

Jon Taffer | Official Website of Jon Taffer

Which is why Billy got one of his HS buddies to handle the shut down....thing is, the bank was across a well lit street, in a then sleepy little burb of DC.....

shit like that just didn't happen there.....I would vary by krazy variations, just when the trips to the bank are made.....

and with the amount of plastic spent these daze, save the cash out for yourself and employee atta boy/gal expenses....:hurray:

Good luck, looks great!

Best of luck to you. I, too burned out on the printing business and tried a few different things before retiring, including flipping a few small businesses.

It's very smart of you to not change much right away. If you jump in and try to turn the place upside down, it makes all the employees nervous and you will lose some of them.

And remember, a good manager is one who doesn't steal from you...much.:yesnod::lol:

Yeah, I was in sales and the last few years it was working twice as hard for half the money as a lot of the purchasing decisions are taken out of their hands and dictated by bean counters.

The manager is staying on and she's great. I'm not kidding myself about theft, I want to minimize it. But, as the owner has said, the bartenders are really the only ones who can steal by not charging for drinks to get a bigger tip and I know the bartenders and they're good people.