Makeumsay2
01-31-2007, 04:49 AM
The reason for this post: I can tell you just from reading the threads that intelligent people are onboard here.
I am a healthcare professional and hold a doctorate, I am successful in what I do. I state this NOT to boast but merely to state that my education has taught me that RESEARCH pays off.
Just about everything one does in life has probably been done before. Therefore, I have found it to be in my best interests to learn from others. If I am successful it is because I studied and emulated those which were already successful. I took what I liked from each of their "management styles" and then added my own unique blend.
So recently, I have purchased a business (LLC) in Chicago with intentions of turning the establishment into a nightclub. I purchased an existing business because I learned that it is MUCH easier to transfer existing licenses than apply for new licenses within the city of Chicago.
I researched and realized that it was in my best interest to purchase a business that already had a tavern license (instead of incidental liquor) because it gives me the option to serve food instead of requiring it.
Furthermore, I made sure the establishment already had a PPA license so that I can charge cover. It also has a beautiful outdoor deck and I am in the process of adding a patio/beer garden license as well.
I learned VERY quickly how difficult it is to procure investors because this is considered a high-risk business AND I have NO previous experience within the industry. The only thing I could say was that any and every business that I have gotten involved in has ALWAYS been successful. Everyone has to start somewhere. I don't expect this business to make me millions, Rome wasn't built in a day.....but I do see it as a stepping stone and profitable investment. By no means do I intend it to be my "party place".
Dedication, persistance, and perserverance alone..........is futile.
Success comes to those that add research and planning to the equation. I follow this formula in everything I do, not just business.....but life.
So I found equal partners to enter into this business with me to diffuse the risk AND because each added something unique to the equation. We don't need investors we put up the money ourselves. In addition, I can tell you the strengths and weakness' of each of my partners. Currently, I am the one who "fills the gaps" where needed and adjusts to situations accordingly. Im the guy who makes sure things get done right.
As for the concept or theme of my nightclub.....I have already developed it and have put a brief prospectus together. Remember, I have NO prior experience with this and put it together myself, but I can say that the concept is solid. I also procured an established designer to design the layout with me. She came onboard for a fractional cost because she read my prospectus and most importantly she met with me more than once. Her exact words for helping me with this, "because something about you tells me you will make this successful. I'll take the hit on this because I know I'll make it back in the future". To be honest, I didnt care what she thought, I picked her because she has a history and portfolio of working with commercial and large corporations. This was of interest to me because of potential aspirations to franchise or expand this concept to other cities. I knew that she had the ability to maintain my "branded" image no matter the city or location and setting. She also has been known for making dollars stretch further, which was something of great benefit to me due to my limited budget.
So enough of my ranting and on to my question.
One of the reasons I purchased this business is because of the possibility to expand the current licenses to a "late night" license. This would allow me to serve until 4am Sun-Fri and 5am on Sat. I knew this would give me a significant advantage because I could become the late night destination for those that dont wish to call it a night at 2am.
Normally in order to procure a late night license 75% of registered voters which reside 500ft from my establishment must approve. Currently, there are only 7 registered voters within 500ft of my establishment. Because it is less than the minimum 50 voters required for a vote, the only people that need to approve my request are the alderman of the ward and the police commander of the precinct. I have already secured the police commander, my problem lies with the alderman.
I have already met with him along with my partners and he likes us. But he stated that in his LONG tenure as alderman he has NEVER approved a late night request for the ward and only 2 "dinosaurs" exist within the ward that have late night licenses which he inherited when he took office. However, he didn't say it was out of the question. Because I am a "newbie" the alderman looks at me as a liability rather than an asset.
His suggestion was to open my business with my existing licenses, prove that I can run this business and be an asset to the community and NOT a liability. Then maybe after 3 to 6 months he will take a look at possibilities of late night license. I should note that this is an election year and elections are around the corner so he probably isnt going to do anything until after the elections. Normally, I would be ok with this.
But here is my BIG problem. Currently, there is a large condo complex being built across the street from my establishment. It is nearing completion and will be occupied soon.
So by the time I have proven myself to the alderman and he would be willing to consider my request there WILL BE the required minimum of 50 registered voters causing a vote on my application for a late night license.
You dont have to be smart to realize that if it goes to a vote.....I'm NEVER going to get that license!!!
So my dilemma: Right now all I need is HIS signature and the late night license is all mine, but it's now or never.
If you know Chicago, then you know its the corrupt city that works. Im sure that the alderman will respond to the right "charitable" donation. I am willing to "donate" to get things done. Quite simply, getting the late night license automatically adds value to my business before I even open my doors and increases resale value dramatically.
But......how on earth do I approach this and get this done!!
If any of you gentleman can provide assistance or direction with this matter it would greatly be appreciated!! Email me at makeumsay2@aol.com
Thanx,
calculated newbie
I am a healthcare professional and hold a doctorate, I am successful in what I do. I state this NOT to boast but merely to state that my education has taught me that RESEARCH pays off.
Just about everything one does in life has probably been done before. Therefore, I have found it to be in my best interests to learn from others. If I am successful it is because I studied and emulated those which were already successful. I took what I liked from each of their "management styles" and then added my own unique blend.
So recently, I have purchased a business (LLC) in Chicago with intentions of turning the establishment into a nightclub. I purchased an existing business because I learned that it is MUCH easier to transfer existing licenses than apply for new licenses within the city of Chicago.
I researched and realized that it was in my best interest to purchase a business that already had a tavern license (instead of incidental liquor) because it gives me the option to serve food instead of requiring it.
Furthermore, I made sure the establishment already had a PPA license so that I can charge cover. It also has a beautiful outdoor deck and I am in the process of adding a patio/beer garden license as well.
I learned VERY quickly how difficult it is to procure investors because this is considered a high-risk business AND I have NO previous experience within the industry. The only thing I could say was that any and every business that I have gotten involved in has ALWAYS been successful. Everyone has to start somewhere. I don't expect this business to make me millions, Rome wasn't built in a day.....but I do see it as a stepping stone and profitable investment. By no means do I intend it to be my "party place".
Dedication, persistance, and perserverance alone..........is futile.
Success comes to those that add research and planning to the equation. I follow this formula in everything I do, not just business.....but life.
So I found equal partners to enter into this business with me to diffuse the risk AND because each added something unique to the equation. We don't need investors we put up the money ourselves. In addition, I can tell you the strengths and weakness' of each of my partners. Currently, I am the one who "fills the gaps" where needed and adjusts to situations accordingly. Im the guy who makes sure things get done right.
As for the concept or theme of my nightclub.....I have already developed it and have put a brief prospectus together. Remember, I have NO prior experience with this and put it together myself, but I can say that the concept is solid. I also procured an established designer to design the layout with me. She came onboard for a fractional cost because she read my prospectus and most importantly she met with me more than once. Her exact words for helping me with this, "because something about you tells me you will make this successful. I'll take the hit on this because I know I'll make it back in the future". To be honest, I didnt care what she thought, I picked her because she has a history and portfolio of working with commercial and large corporations. This was of interest to me because of potential aspirations to franchise or expand this concept to other cities. I knew that she had the ability to maintain my "branded" image no matter the city or location and setting. She also has been known for making dollars stretch further, which was something of great benefit to me due to my limited budget.
So enough of my ranting and on to my question.
One of the reasons I purchased this business is because of the possibility to expand the current licenses to a "late night" license. This would allow me to serve until 4am Sun-Fri and 5am on Sat. I knew this would give me a significant advantage because I could become the late night destination for those that dont wish to call it a night at 2am.
Normally in order to procure a late night license 75% of registered voters which reside 500ft from my establishment must approve. Currently, there are only 7 registered voters within 500ft of my establishment. Because it is less than the minimum 50 voters required for a vote, the only people that need to approve my request are the alderman of the ward and the police commander of the precinct. I have already secured the police commander, my problem lies with the alderman.
I have already met with him along with my partners and he likes us. But he stated that in his LONG tenure as alderman he has NEVER approved a late night request for the ward and only 2 "dinosaurs" exist within the ward that have late night licenses which he inherited when he took office. However, he didn't say it was out of the question. Because I am a "newbie" the alderman looks at me as a liability rather than an asset.
His suggestion was to open my business with my existing licenses, prove that I can run this business and be an asset to the community and NOT a liability. Then maybe after 3 to 6 months he will take a look at possibilities of late night license. I should note that this is an election year and elections are around the corner so he probably isnt going to do anything until after the elections. Normally, I would be ok with this.
But here is my BIG problem. Currently, there is a large condo complex being built across the street from my establishment. It is nearing completion and will be occupied soon.
So by the time I have proven myself to the alderman and he would be willing to consider my request there WILL BE the required minimum of 50 registered voters causing a vote on my application for a late night license.
You dont have to be smart to realize that if it goes to a vote.....I'm NEVER going to get that license!!!
So my dilemma: Right now all I need is HIS signature and the late night license is all mine, but it's now or never.
If you know Chicago, then you know its the corrupt city that works. Im sure that the alderman will respond to the right "charitable" donation. I am willing to "donate" to get things done. Quite simply, getting the late night license automatically adds value to my business before I even open my doors and increases resale value dramatically.
But......how on earth do I approach this and get this done!!
If any of you gentleman can provide assistance or direction with this matter it would greatly be appreciated!! Email me at makeumsay2@aol.com
Thanx,
calculated newbie