First I just want to say that this website is great. I stumbled upon it this morning and have wasted about 2 hours reading all the posts. So I am a first poster! I have always wanted to open a food truck and with the increasing popularity I might able to one day! Anyway, that is not why I am here. I am a student at Florida International University getting my Master's in International Real Estate. Myself, along with my group, have been tasked with choosing a property and determining if it is a good buy.
We may have bit off more than we can chew and decided to analyze a hotel/restaurant/golf course in Kentucky. Still trying to figure out how we found the property and agreed to it?! I have been tasked with putting together a restaurant P/L so that we can accurately determine if the property is worth it. I do have 2 years of food-service experience but it was in sales, not operations. Totally different ball game.
I am looking for some help in estimating traffic, payroll, food costs, drinks, etc. It might be important to include that the restaurant will be located in a dry county. However, the offering memo for the property states that the county is giving special permission to the property for a liquor license. So the property will be the only place for residents to buy liquor within a 45 minute drive.
Any help anyone could through my way would be greatly appreciated! I have reached out to a restaurant owner in my area with no luck. He wasn't very friendly so I might reach out to a few others.
post edited by MurphyLawPTDEUX - 2013/04/05 15:39:31