Another Request

June 30, 2016

 

Patrick,   

 

The numbers you sent up look good.  But you need to spend some time in the neighborhood.  Take a walk around at different times of day and different days of the week.  You’re trying to get a feel for pedestrian traffic in the area and how busy nearby restaurants or cafes are through out the week.  Get out and talk with the bartenders at that Pirate place down the street and ask about business for lunch and dinner.  Are weekends bigger money shifts than weekdays?  Is the difference between the two really big?  Sit down and have a beer there a few times and take a look around at who comes in.  Go to the cafes and restaurants and do the same thing.  Go over to the hotels and speak with them about occupancy rates through out the year.  Do they have a tourist season where it fluctuates?  Then check out that college and speak with students and faculty about places they recommend  for food and drink.  How about the crew at the bar you work at?  Ask them about that area and if they’d ever venture out over there for a night out.  You need to do some field research.  If it still looks promising than you may have an opportunity in the market.  But you need to be looking for reasons your concept wouldn’t work there?  This takes discipline to do.  You’ve got to actively focus on finding causes for the bar to fail were it located there.  Look for the negatives like a bloodhound.  Let me know what you find.

 

Regards,

Anthony