8817 replies to this topic

[Mike K.]

Now you’re playing Hungary games.

[Rob Randall]

^Don't be a pest, bud.

[aastra]

I wish you'd both stop acting like wieners.

[aastra]

It's moments like this when I really can't stand you guys and this faschingskrapfen message board.

[Nparker]

I really don't give a schnitzel anymore.

[aastra]

Let's be careful. If the mods have a problem with this kind of language they might pursue a torte case against us.

[Brantastic]

Jusu Bar in Chinatown is permanently closed. 

[Kapten Kapsell]

Awning signage is up at the new downtown Bubby Rose location (Johnson/Government).

[JanionGuy]

You heard it here first folks.

 

A new establishment is setting up in the space vacated recently by OLO, Chinatown, just around the corner from the Janion.

 

The sign on the door says "coming soon".  They better hurry up if they plan to open in 2020 as indicated.

 

https://raindogswinebar.com

 

[Rob Randall]

Southern Flavours is a new Indian restaurant in the Lakehill Village shopping plaza in the former Korean Gardens restaurant (directly across from the Quadra Keg).

[Mike K.]

Hey, isn’t there an Indian place run out of a home somewhere in Gordon Head, which sells takeout dishes?

[RoadRunner]

http://deepindiafood.com/

Hey, isn’t there an Indian place run out of a home somewhere in Gordon Head, which sells takeout dishes?

[Redd42]

You heard it here first folks.

 

A new establishment is setting up in the space vacated recently by OLO, Chinatown, just around the corner from the Janion.

 

 

So ok I know a little about commercial leases because I have one but also said I slide sidewise in to this running a business thing so admit I'm not up on all the details. One of the folks at OLO in the story about them closing said they had been negotiating with someone for a while to sell their lease. Say what? I've always considered my lease an expense obligation, not a capital asset. Or was it the newspaper story gone wrong that they were negotiating with someone to take over their lease? Or maybe in their case, it was a mix of the lease and the upgrades to the space? Maybe because it is one high end restaurant moving in as one is moving out so they are paying for not having to put in all the kitchen gear? Matt, maybe you can explain?

[Mike K.]

Yeah, it could be any number of things, but when you lease, you really only are selling the lease to someone plus whatever assets you want to include, if you’re selling the business. Buying businesses can be risky if the lease agreement isn’t iron tight.

[kane]

The Olo deal was an asset business sale. Everything except for the intellectual property and business concept was sold.

[Matt R.]

So ok I know a little about commercial leases because I have one but also said I slide sidewise in to this running a business thing so admit I'm not up on all the details. One of the folks at OLO in the story about them closing said they had been negotiating with someone for a while to sell their lease. Say what? I've always considered my lease an expense obligation, not a capital asset. Or was it the newspaper story gone wrong that they were negotiating with someone to take over their lease? Or maybe in their case, it was a mix of the lease and the upgrades to the space? Maybe because it is one high end restaurant moving in as one is moving out so they are paying for not having to put in all the kitchen gear? Matt, maybe you can explain?

Nope, I can’t explain. When we bought the assets of our business, we took over the lease mid term, I wouldn’t say we “bought” it like it was an asset.

Matt.

[laconic]

Well before covid I wrote an Android app (Play store "announce me"). The idea was to connect people who are physically close to each other, say bluetooth distance, in order to transfer information. For instance, walking into any appointment and only wanting to announce your name to the receptionist.

 

Now restaurants are doing a lot more of asking for name/phone and dealing with customer pickups where people just want to say "I'm here". I'm surprised that in the current covid climate none of the big companies have added a similar functionality to their phone apps.

[Nparker]

Well before covid I wrote an Android app (Play store "announce me"). The idea was to connect people who are physically close to each other, say bluetooth distance, in order to transfer information. For instance, walking into any appointment and only wanting to announce your name to the receptionist.

 

Now restaurants are doing a lot more of asking for name/phone and dealing with customer pickups where people just want to say "I'm here". I'm surprised that in the current covid climate none of the big companies have added a similar functionality to their phone apps.

This is why my cell phone is almost always sitting on its charger at home.

Edited by Nparker, 14 November 2020 - 05:26 PM.

[Redd42]

The Olo deal was an asset business sale. Everything except for the intellectual property and business concept was sold.

 

Ok so it does sound like the newspaper story was wrong. They sold their assets - the tenant improvements, all the kitchen stuff, the tables and chairs. And very good for them there was still someone in this environment that was willing to pay for that. 

 

Whereas it looks like in the case of San Remos, the most recent owners tried to sell then just walked away as the landlord is now trying to lease as it is, with all the restaurant stuff there.

[Redd42]

Nope, I can’t explain. When we bought the assets of our business, we took over the lease mid term, I wouldn’t say we “bought” it like it was an asset.

Matt.

 

In your case, you also bought the name and goodwill, as well as all the stuff - kitchen equipment, chairs, tables, etc.