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Topic: In other news ...

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Mdot21

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Re: In other news ...
« Reply #5012 on: April 21, 2021, 10:15:21 AM »
Is this a single establishment or a chain
it's a single establishment. looking to expand into a better area.

Mdot21

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Re: In other news ...
« Reply #5013 on: April 21, 2021, 10:16:08 AM »
I have zero desire to invest in a restaurant.  You need to be present or better damn well have people w skin in the game that are present all the time.    I can think of dozens of other illiquid investments I'd rather make.  It's just not for me, that type of risk tolerance.  I'm not even interested in making passive investments into them, outside of accepting fractional indirect ownership via a pooled vehicle (mf/etf).
This is where I am at. I would only put up money and get involved and do it if I could get someone I seriously trust would also put in money and be there 24/7 and run it. 

Mdot21

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Re: In other news ...
« Reply #5014 on: April 21, 2021, 10:16:53 AM »
I had part ownership in an upscale restaurant in Cincy years back, it didn't end well.  I did get some benefits while it lasted though, basically $1500 a year in dining.  And a  tax write off.  It was a nice place when I bought in, various and sundry dragged it down, including the recession.

It was nice while it lasted though.  It's nice a rather mediocre restaurant that does great business.
Nothing mediocre about this place at all. In fact, it's honestly one of the best places I've ever eaten at.

OrangeAfroMan

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Re: In other news ...
« Reply #5015 on: April 21, 2021, 10:17:25 AM »
If they can figure out how to slow or halt aging, then it's not completely unrealistic to think they could figure out how to reverse it.
This makes me think of the problem of time travel.  Ehhh, stopping something is one thing, putting it in reverse is a whole other task.
“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

OrangeAfroMan

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Re: In other news ...
« Reply #5016 on: April 21, 2021, 10:17:53 AM »
it's a single establishment. looking to expand into a better area.
So a state with a republican governor then?  
“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

Mdot21

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Re: In other news ...
« Reply #5017 on: April 21, 2021, 10:18:05 AM »
I don't think I would do it. Based on friends who do own restaurants, it's way more than a full time gig - and they always watch the store. Otherwise, they would have partners they don't want.
This is the hang-up for me as well. I don't have the time to live there. And most restaurants that are any good- have someone there running it 24/7 and kicking ass and taking names and watching everything and everyone. Minute you let up, quality starts going down and employees start taking advantage.

OrangeAfroMan

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Re: In other news ...
« Reply #5018 on: April 21, 2021, 10:18:46 AM »
Hasn't this pandemic proven that restaurants aren't a great idea to pump money into?  Thin margins and more at the whim of the economics of the masses than most other enterprises?  
“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

Mdot21

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Re: In other news ...
« Reply #5019 on: April 21, 2021, 10:21:40 AM »
I grew up in a family that was in the restaurant business.  I would advise against it.

As others have said, either you, or someone you trust completely with a lot of skin in the game, must be present at all times.  All of your employees will steal from you.  Even trusted managers.  And if there are multiple owners, invariably there are going to be multiple ideas on vision, process, etc.  Almost literally, too many cooks in the kitchen.  It's tough business.

My friends finally stopped bothering telling me I should open a BBQ restaurant when I told them all the stories about the one that we used to own.
Appreciate the insight. One thing I am definitely not dumb enough to do is tell someone that has an incredible product to change the vision/process, etc.. or try to be another "cook in the kitchen". 

This place has the best food there is. The location sucks though if you ask me. South Beach is a complete dumpster fire, with nothing but trash and tourists. South of Fifth is super nice, Brickell is super nice, Coral Gables is super nice, Bal Harbour is super nice, North Miami Beach is nice, Wynwood has become super nice- those are the areas/neighborhoods you want to be at in Miami- South Beach is just a complete trash can with overpriced rent and a bunch of scum. 

Mdot21

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Re: In other news ...
« Reply #5020 on: April 21, 2021, 10:25:36 AM »
When any exciting opportunity comes my way, my first thought is WHY is this opportunity available? 
Hate to pat myself on the back, but the dude not listening to me after I practically begged him not to buy a failing restaurant business right down the street and sign a triple net lease that was $22k/mo + cam (roughly another $2k) to open a 2nd location right next door to his already existing location + COVID f***kd him. He lost his ass, but now he's sold that 2nd location/equipment/business and is looking to do something out of South Beach- like I told him he needed to do from the jump. 

Mdot21

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Re: In other news ...
« Reply #5021 on: April 21, 2021, 10:29:13 AM »
Hasn't this pandemic proven that restaurants aren't a great idea to pump money into?  Thin margins and more at the whim of the economics of the masses than most other enterprises? 
I agree that they aren't a great idea to pump money into if you're in dying states with mass migration of people leaving and gtfo, shrinking economies, and heavy restrictions due to shitty government. IE- Michigan.

Places that are growing like Arizona/FL with good state gov't- good places to invest in restaurants. And the margins don't always have to be thin. If you have a truly GREAT product- you can mark it up like crazy and make high margins. Google this guy: Cafe Martorano's - Fort Lauderdale. He is making STUPID money. His markups on some dishes have to be damn near 1,000% - which means his margins have to be crazy high.

Right now might be the time to get in- as over 100,000+ restaurants have closed their doors permanently.

https://www.loopnet.com/learn/is-now-the-best-time-to-open-a-restaurant/500188177/

utee94

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Re: In other news ...
« Reply #5022 on: April 21, 2021, 10:34:40 AM »
Hasn't this pandemic proven that restaurants aren't a great idea to pump money into?  Thin margins and more at the whim of the economics of the masses than most other enterprises? 
It's not just the pandemic.  Anyone that's run a restaurant-- ever, under any circumstances-- would tell you the same.

Even during the best of times, restaurants are super-risky as an investment.  It has to be a labor of love to own one, because you're going to have to operate it as well, unless you want to lose your a$$.

betarhoalphadelta

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Re: In other news ...
« Reply #5023 on: April 21, 2021, 10:54:04 AM »
This makes me think of the problem of time travel.  Ehhh, stopping something is one thing, putting it in reverse is a whole other task.
Yeah, but much different processes. Enough so that it's not even close to a valid analogy.

It's like saying we can't live forever, because due to entropy we'll never overcome the inevitable heat death of the universe. It's a true statement, but we're looking at the order of hundreds to thousands of years, whereas that's a problem that's billions or trillions of years away. 

The body is consistently regenerating. Some cells [like skin] are replacing themselves on the order of days, while others [like skeletal muscle] is on the order of years. There are a few areas [such as in the brain, I believe] that are not replacing themselves at all--which will be another problem that we'll have to face.

A lot of the "reversal of aging" questions are based on the regeneration process. Every time a cell divides and grows, there are two problems. Actually, there are more than two, but these are two that I know of that are of particular concern to the radical life extension folks:

  • Mutation. Every cell division carries with it the potential for mutation. Some mutations are benign. Some harm the cell itself and thus either cause the cell to die or cause sub-optimal cells to continue to divide, so there's a degeneration in the quality of the cell relative to its original genetic design. Others cause the cell to go into hyper-growth mode, and we call that cancer... 
  • Telomeres. These are effectively the "caps" on our chromosomes and apparently protect the chromosomes themselves. As cells divide to regenerate, apparently these telomeres shorten. The more divisions; the shorter they get. When they get too short, they can no longer effectively protect the chromosomes and cells become unable to divide, and you get an overall degenerative process because the cells can't replace themselves.


One of the very interesting areas of anti-aging research is specifically the telomeres. There are some who believe that if we can find a way to either stop the decay of telomeres or to find a way to replace/regenerate the telomeres as we go, that the body will be able to avoid some of the natural degeneration that occurs with aging. 

And that's what it's about. It's not about "reversing" aging per se. Our body's cells know how to regenerate. If you can fix that process--perhaps by finding a method to teach our body to produce and repair the telomeres--our body will start generating the healthy cells it should be producing, and the body itself will reverse the aging process. At that point you need to find a way to teach our body to cull the mutated cells as well, of course, and that's something for which we have a lot of research into mRNA right now to identify cancerous cells and teach the body to see them as foreign and have the immune system fighting cancer instead of ignoring it. Over the span of time, you'll see that the degenerate cells are replaced by healthy cells, and eventually the body will be almost entirely healthy cells, and hopefully cells of the original genetic code rather than mutated.

These are, of course, hard problems. But as we learn more and more about aging, we are able to define what the problems are, which is the first step to trying to figure out how to solve them.

OrangeAfroMan

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Re: In other news ...
« Reply #5024 on: April 21, 2021, 11:39:50 AM »
@Mdot21 
I'm no expert about the restaurant business, but I do know that if you have one ultra-successful place in mind to mimic and not accept that you'll probably have a joint more like the other 99.9%, you've deceived yourself and you'll fail. 

I'd much rather be knowledgeable and want to know the ins and outs of the 50th percentile restaurant over the 99th before I make any decision.
“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

OrangeAfroMan

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Re: In other news ...
« Reply #5025 on: April 21, 2021, 11:42:48 AM »
Yeah, but much different processes. Enough so that it's not even close to a valid analogy.

Except that both are absurd fantasies.  :)
“The Swamp is where Gators live.  We feel comfortable there, but we hope our opponents feel tentative. A swamp is hot and sticky and can be dangerous." - Steve Spurrier

 

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