more to think about

[bruce]

September 1st was the start of our fifth year in this business[small town restaurant with small bar][no parking][business district, all six, plus city hall]. We have been struggling to make ends meet the last 9 months, more so than in the past. At this time both myself and my wife are running on fumes. We are tired and starting to lose the care that we put into the business to start.
We have just about exhausted all means of improving business without going in debt any further. The real estate is almost half paid for, we have managed to make the payments on our house and pay all of our bills plus we eat and drink from the business. We have considered selling lately to get a break. However with the recession, we don't believe that we can get what we feel would make us comfortable in selling[I would like to get enough to retire :p :p].
We have had a question from a prospective buyer about investing with us. We have not gone any further than to ask if he was serious as he has ideas about remodling that are expensive. I also have no clue how much he is talking about investing. We do have room to grow with the proper backing business wise.
The last four years have grossed a little over 1.2 million dollars, but to really be profitable this would need to grow at least 20% plus.
I need to get some ideas from others on ways to approach this that I may be missing. We have room to grow only up[rooftop only]. We have no gambling and do not concentrate on anything except food sales. Bar closes at 9 pm 5 days a week and 11pm on friday and saturday. Restaurant closes at 8pm mon-thur, 9pm fri-sat and 3pm sun. At this time we have almost no entertainment except for the wii and five televisionsin the bar. Total dedicated seating is currently 43 bar 46 restaurant.
Ideas? Thanks in advance.

[Coy]

Are you required to close the bar that early? Granted in a business district all the bussiness patrons will be coming early, but that could just be for a happy hour. As its been said before, let the happy hour define your night and build upon that. Let the restaurant close down earlier except for simple food, appetizers. Move tables around in the evening and turn into a lounge, bring in live entertainment that makes money only from charging a small amount at the door ($2 - $5). Its no added expenses to you other than to stay open later, but other than the happy hour crowd and people looking to have a drink after a long day at work, most people will come in later.

[Havensloft]

Would keeping the bar open longer help? We get most of our business after 11 p.m. I feel your pain. My husband and I are running on fumes as well. I can't find honest people to help so we are opening and closing ourselves. I agree selling now would not be profitable. We can only hope the recession eases up so people will go out more. Good luck.

[JackMaverik]

The one thing I really wished I had when I started my bar was more employees. I and my partner were running just about everything ourselves. Besides door guys and 2 other bartenders, we were it. Promotions, booking, cleaning, ordering, networking, stocking, shopping, etc. Everyday. All day. And you have no idea how bad I desperately wanted one day where I could breathe, or a week that I could get away. Not because I didn't love it, but because I didn't want to hate it.

Parents hire babysitters, I think owners should sometimes hire barsitters. Like people who you can trust with references that won't run your business into the ground while you step out or catch your breathe.

You might want to take one a staff member. A GM of sorts? Someone who can take some of the slack off and allow you to focus on the big picture.

Otherwise, inviting an investor isn't a horrible idea, so long as you can trust them. Last thing you need is a Johnny Knows-it-better-than-you.

But, take two weeks off. Breathe. Then see how you feel when you come back to it. Burnout feels like it's going to last forever, but it doesn't.

[Crazy Mike]

1.2 Million over 4 years is 25K/month. This puts it more in perspective to me since I run about half.

So what's the avg. monyhly profit?

We've only been doing it for 3 months and I'm sick of it haha. Can't imagine FOUR YEARS! And we don't even sell food.

Take a freaken VACATION!

[bruce]

I don't make a profit. Everything is too high in this state. Of course I haven't made a profit but once or twice in my life and then it was small. And I have never been on a vacation. Isn't that where you go to look for another business to lose money on? I am always thinking writeoff.

[Crazy Mike]

Seriously?

[casabar]

Bruce I have followed your postings for several years and agree with the the previous posters that say you need to take a planned vacation ( annual maintenance etc. ) and then upon your return re-evaluate the situation. Step back and take look from a different perspective. Works wonders! The town is not going anywhere and I bet you will not skip a beat.

Aloha

Casa Bar ( mauimanana )

[owneroper]

oh my mauimana where the heck have you been????

[walawdog]

I looked up Winlock, is that where your bar is? You are doing 25k a month in a town with a population of 1,100 people? That seems to be pretty darn good....or am I missing something? I would say that if your costs are 90% of gross....then you are still earning $2500 a month to pay your personal bills. If you could find another 10% then you'd be doing alright. Perhaps find a way to boost business or better yet, cut costs (without sacrificing your product) by 10% and you can be doing better. Not having seen your bar, or knowing your clients....I am not sure how to boost your business....but, if I were you, I'd go over my bills with a fine tooth comb and find some savings in there somewhere.

[bruce]

Those were good numbers and growing until feb. 09. We are down 20% for the year thru oct, but are starting to see some improvement in the local area.

[livingproof]

Hey if you would to expand, a rooftop would be pretty cool. I mean it could be open of course only in the summer. I don't believe it would be to expensive to do an add on on the roof. If you have enough money saved and since you own your own business close for a weekend. or Mon thru wednesday and go to a hotel and just relax a little take a small cheap vacation at home. Every one needs some sort of vacation!