[Tor from Norway]

Hi
I am thinking of buying a resteaurante in Daytona, and i have read on earlyer threads that its nothing to do for a nightlife and "all" the locals in 25-35yrs goes out in orlando instead.
I was thinking of making my place (if i buy it have to check it out first. I am going to have a week there now in end of february beginning of march) in to a dinner place in the afternoons serving real "viking" food wich is traditional scandinavian food, and a live music "jazz" place at night time with wine beer and easy serving of cheesplatters etc.
What do you guys who live there now think of that? Would you go to such a wine bar? And is it a market for my "thing"?
Hope to get soon replys.

[DailyJournalist]

I do not think that Daytona would be the best place to open such an establishment. Stick to cities where you could attract an evening crowd. Places like St. Augustine, Winter Park, Tampa, and St. Petersburg come to mind.

[gypsychic]

Originally Posted by DailyJournalist

I do not think that Daytona would be the best place to open such an establishment. Stick to cities where you could attract an evening crowd. Places like St. Augustine, Winter Park, Tampa, and St. Petersburg come to mind.

I agree with this - Daytona, IMO, would NOT be a good place for such a business. You need to be where Europeans visit, or at least get a lot of vacationers and people who enjoy eating out and such an atmosphere. In addition to the above cities mentioned, I would add Sarasota to the list, which is on the Gulf coast.

Good luck!

[Jonotastic]

Originally Posted by Tor from Norway

Hi
I am thinking of buying a resteaurante in Daytona, and i have read on earlyer threads that its nothing to do for a nightlife and "all" the locals in 25-35yrs goes out in orlando instead.
I was thinking of making my place (if i buy it have to check it out first. I am going to have a week there now in end of february beginning of march) in to a dinner place in the afternoons serving real "viking" food wich is traditional scandinavian food, and a live music "jazz" place at night time with wine beer and easy serving of cheesplatters etc.
What do you guys who live there now think of that? Would you go to such a wine bar? And is it a market for my "thing"?
Hope to get soon replys.

Your idea would do much better in Orlando or South Florida. The restaurants in Boca Raton are still packed, especially on weekends even in this economy. I used to live in Daytona Beach and lets just say...many are Rednecks, who probally wouldn't really be interested in wine bars, eat Scandinavian food and listen to Jazz. That's something they'd refer to in New York City, San Francisco etc. South Florida doesn't have many good places such as those, but I think many are craving them. There are a lot of people who move from NYC to South Florida and miss that kind of stuff. I know I miss it from San Francisco. You don't need a European population, you need a progressive, liberal, democratic population.

[Tor from Norway]

Thanks for good helpfull replys.
I havent really nailed the scandinavian jazz consept yet, it was just my first thought when i looked at the location and place.
But i want to make something there wich could be fun and attractice for all the locals (and offcourse tourists)
Any ideas whats missing in Daytona beach?
I want to serve lunch and dinner. And it is a 2COP license so wine and beer at night is also planned... But I could really use some help from you guys with input for the concept..
Steak and grill house? Italian pasta? Seafood? burger place?
Even though the economic situation the place (wich is currently running now as a cafe with breakfast and lunch) increased 50 000 in 2008. So i can really see a potansial here with my creativity and plans. Just need the direction guiding from you locals what you feel are missing in your town.
Hope you can come with some helpfull inputs here

[Jonotastic]

The problem with a Steak and Seafood restaurant is that there are so many in that category. You would really have to be good and find a way to market yourself to stand out from your competition. I'd be wary if they showed an increase of $50,000 in 2008, especially in Daytona Beach. Wholesale food prices have increased a good 30-40% in 2008. We're in the restaurant industry. If you want, I can send you a DM with my e-mail address and you can e-mail the financial statements to me. I can look over them to see if anything looks fishy. The expenses are the most important thing...many sellers I've come across lower the actual figures. You have to know the averages for the industry to have a better idea if the financials look accurate. Maybe the owner fired his FOH manager and took his position, which showed an increase of $50,000. You need to have the financial statements for AT LEAST the past 3 years, preferably the past 5 years. If expensives have been decreasing each year, something is not right. I've looked at over 150+ hotels and restaurants all across America. I know what to look for on paper.

[Tor from Norway]

That would be great!
The last year i have looked at several rest, bars, hotels, night clubs and shops all over USA also, but now i found this one wich looks really tempting.
It would be great if you send your mail on DM and if you want to help me invest.
I asked the broker if he could send me the balance sheet, so i am waiting for it. And he also said that they sold for 200 000usd in 2007 and went up to 250 000 in 2008 so i am looking forward to have the acounting papers on this one..

[Jonotastic]

Originally Posted by Tor from Norway

That would be great!
The last year i have looked at several rest, bars, hotels, night clubs and shops all over USA also, but now i found this one wich looks really tempting.
It would be great if you send your mail on DM and if you want to help me invest.
I asked the broker if he could send me the balance sheet, so i am waiting for it. And he also said that they sold for 200 000usd in 2007 and went up to 250 000 in 2008 so i am looking forward to have the acounting papers on this one..

Is that $200,000 to $250,000 gross income or NET income? There is a huge difference. Gross income matters, but it all comes down to the net income. I've seen restaurants with $4 million gross income, yet they are LOOSING $200,000 a year in NET income. I don't mind giving you advice, keep in mind though I'm not a commercial broker nor an attorney, but I do have experience with this industry.

I'll send you a DM with my e-mail now.

ADD: here are some good websites...

http://www.cbrehotels.com/Regions/Th...cas/properties

http://www.loopnet.com/

http://www.mumfordcompany.com/

http://www.hbihotels.com/hotel_listings.php

http://www.mbahotels.com/index.php

http://www.bizbuysell.com/

http://www.restmart.com/index.asp

http://www.businessesforsale.com/

http://www.businessmart.com/

[90sman]

Originally Posted by alexer

Hi Tor,
I think it is good idea to start your own restaurant. If you are looking for broker you may go through the local directory.



Pub for Sale

This threat is from 2009, it's probably outdated by now.