Post #793800 by tikiskip on Fri, Mar 15, 2019 6:37 AM

"I'd probably be throwing myself into Lady Bird Lake by this point!"

All that and he has not even started the business yet.
People just don't get how hard it is.

I was lucky in a way as I bought my restaurant from my mom and it was up and running with a fair amount of good will, Ha, and some bad will brought by my stubborn mom.

(Good will is a standing where people like and come to your business, a strong customer base)

I had a few questions when people would say they were going to open a place like mine that I would ask them.

1.Are you or your family going to work there?

I ask this because relatives many times can be trusted and will work harder than people you do not know.
My family did know the job, and could do it well if they wanted to, but even they did steal
from me, some took cash, some took cash and goods, some gave away goods for a bigger tip,
And a few over achievers did all three.

It's right there on the dollar bill, "in god we trust" If it's not god who works for you don't trust.

BUT even with them ripping me off family made me more money than the other workers that I did not know who did much of the same things without the hard working.

2. Are you going to have partners?

One guy told me "yes we have 12"!
TWELVE, partners!
I asked the guy "how much money do you think I make here!"

Here's how that goes almost every time I have seen that.
The partner that works there is usually happy even though the business makes no money because he is stealing the money out of the register.
The other guy is pissed, he is never there mostly cuz he needs to keep his other job so his partner can play big shot at the business and get paid.

The regulars AND even the employees of the business HATE the guy who is not there cuz he is a big grouch who wants to see the place make money.

The partner is LOVED as he gives away drinks and is supper fun.

Due to mismanagement the place owes taxes, and even other bills as the big shot paid himself first, the money man is again on the hook for big shots years of fun.

They end up hating each other and even in court sometimes, and lose a bunch of money.

You MUST be at your place WATCHING everything that goes on, especially the register!

The twelve partner thing did happen lasted about a year, they did go to court and are not friends anymore.
All of the above happened too.

How long is your lease?
You want small run dates as this will let you out if you don't make it.
What if all is well and you fall ill?
They don't let you off the hook if your business goes under, they want every day you signed up for paid until they can rent the place out again.

What you do want is a three year lease with like two three year renewal options.
That will give you a possible 9 year lease.

Do they want you to pay a percentage of the profits you make.
Many leases have a part in it where you pay on top of your rent a percentage of the profits.
Damn who signs that?

Sometimes a landlord will let you slide on the rent in hard times or even reduce the rent so you don't go under.

I ALWAYS paid my rent in full and on time FYI this maybe be a bad thing though as the guy never cut me slack and did try to RAISE my rent after he bought the building and thought my lease was not transferable.
The same guy cut the rent for the loser I sold the business to years later after the new guy ran my place into the ground.

This new world LOVES a loser.