Logic. Reason. In business, these should be your close, personal friends. The only time I ignore either is when Im thinking outside the box, as the saying goes. I dont want to ever be hidebound to its never been done that way before or afraid to try something new. Conversely, I think its absolute folly to ignore history and presume that I know better, without a bloody good reason. To further delve into the worlds of truisms, famous sayings and such, heres a fave of mine: Insanity is doing the same thing over and over and expecting different results. I mention this as preface to a phenomenon Ive noticed everywhere Ive lived, that being that when one particular parcel of real estate hosts a business that fails, it seems as though it becomes a magnet for virtually-identical businesses, chewing up and spitting out each, over and over, like some sort of sick entrepreneurial riff on Bill Murrays Groundhog Day. Exhibit A: 4460 Youree Dr Shreveport LA 71105, lately the home of the Fork & Spoon Market. This particular address has been the home to literally dozens of eateries. In reverse chronological order: Fork & Spoon Market, Monsours, Estrellas, preceded by such memorable ones as The Pepper Mill and Clancys. Of all of these, only Clancys could really be deemed a success. (I miss their fried mushrooms with chunky blue cheese dressing to this day.) But...why? Why have so many restaurants failed at this location. Well, truth be told, lots of reasons. Theres parking problems (no insignificant a factor, when it comes to lunch and dinner crowds...backing onto Youree takes more intestinal fortitude than many care to muster), service issues (one iteration had the worst waitstaff Ive EVER had the misfortune with which to deal), menu issues (over-priced, poor selection, items didnt fit the places concept), food quality issues, ambiance, lack of advertising, and poor word-of-mouth. Lord knows, the restaurant biz is NOT for the faint of heart...with slim margins, a fickle public, and a million and a half other things that can go wrong, its a really tough business. But when you make fundamental mistakes, tough can more into impossible. But lets set aside the relative merits of any given business. Real estates mantra was, is, and always shall be Location, Location, Location. That being said, I wonder if lenders just havent gotten the message. I mean, if youve got a location lying vacant, and someone approached you for a business loan to open yet again another restaurant there, wouldnt it give you pause to think that EVERY OTHER RESTAURANT, SAVE ONE, HAS FAILED IN THAT LOCATION? Now I realize that address is plumbed for a restaurant. Im sure that people think, Hey...great location for a little bar and grille...pre-zoned...kitchens ready to go...why not? And so yet another sucker lines up to have their dreams dashed by the Bermuda Triangle of restaurant locales. Now the place next door (Nee: Panos Diner) is soon to reopen as a fast-casual fish place. I suspect theyll succeed, if only because they gutted the building, started over, look well-funded, and have more-than adequate parking. For the next hopeful restauranteurs that go into the elephant graveyard of ClancysPepperMillEstrellasMonsoursFork&Spoon, I hope that having another dining establishment next door will help them. For Im convinced that its only a matter of time before the next lemming lines up for the ritual restaurant-o-cide. So tell me...are the banking class just setting these guys up to fail? Somebody colluding here to take the rubes money and run? I dont get it. I really dont.
Posted on: Tue, 03 Jun 2014 04:20:58 +0000
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