9638 replies to this topic

[magmazing]

Central bar, 100 occupants and a concrete floor?

The concrete floor makes me think it’s a new or somewhat new space. Could it be that shot restaurant? I do not know if they’re liquor primary there.

 

Is it The Mint? They recently applied to change their liquor licence to allow for customer participation for the shows they have in their side room. Wouldn't call their kitchen all that spacious though. 

[Mike K.]

Right, very tight kitchen.

$100k means it’s likely not a popular space. If it were a popular restaurant it would be selling for 10x profits, plus the assets, plus goodwill. A decent internal refit would be valued at at least $200-$300k.

[UDeMan]

Some new restaurants opening up at Royal Oak Shopping Centre.

Gyrosa Greek food
Niloo Persian food

A Noodle box opened up earlier in the summer.

Royal Oak has become a restaurant hub in recent years.

[Matt R.]

Right, very tight kitchen.

$100k means it’s likely not a popular space. If it were a popular restaurant it would be selling for 10x profits, plus the assets, plus goodwill. A decent internal refit would be valued at at least $200-$300k.

3x profits maybe, not 10. Are there other businesses that sell for 10x? 3x profit plus inventory feels much more normal for this industry.

[Mike K.]

Yup. Absolutely. 10x profit all day long. I didn’t realize a restaurant was that low. Crazy.

[Matt R.]

Definitely not 10x I’m very sorry to say. A business selling for $500k only makes $50k a year? Who would buy that.

[Victoria Watcher]

Have no fear, solo dining is here and it's big in Victoria

 

 

B.C.'s capital is the top destination for solo dining and travel in Canada

https://www.vicnews....ictoria-7564110

 

 

 

 

 

While travelling solo is not uncommon, dining solo in public is still one of those things most people fear. There’s even a word for it: solomangarephobia.

 

__________________________________

 

“It's one of the standout dining trends this year and we expect it to continue into the next year, with 73 per cent of Canadians planning to dine solo in the next 12 months,” Matt Davis, OpenTable Canada country director, said.

Edited by Victoria Watcher, 06 October 2024 - 11:43 PM.

[Mike K.]

I had no idea people fear it. And now we query this for surveys?

I guess we attract a lot of people who don’t have friends to travel with, for whatever reason. What would be behind that?

[Mike K.]

Matt sent this my way. Soupa has been around since the completion of this tower, no? 1998 or 1999?

How many square feet do you think that space is? $1450+GST plus NNN costs.

[Matt R.]

800? Doesn’t look like much but could be a hell of an operation with good walk by traffic.

[Mike K.]

Unless the have a lot of storage, I’d say 400 max for the operation. Then there’s the dining space they use.

[Victoria Watcher]

https://x.com/wallst...VEUJpeFjILnnozg


If you click that link it animates the graphic. Interesting.

Attached Images

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Edited by Victoria Watcher, 09 October 2024 - 07:49 AM.

[Victoria Watcher]

[Victoria Watcher]

Gorge/Tillicum area:

 

 

Excellent opportunity to own a vibrant restaurant, with liquor license, strategically located for maximum exposure in West Saanich. With a strong and loyal customer base, this turnkey business offers a rare chance to step into a thriving enterprise with the potential for future growth. The commercial kitchen features newer equipment, ensuring efficiency and quality in every dish. This, combined with the location that ensures a steady stream of customers, drawn in by the authentic Mediterranean cuisine and warm hospitality have become their trademarks. For those on the go, there is an established takeout and delivery service offering a convenient way to enjoy delicious meals from the comfort of home. Contact us today for more information. 

 

$450,000

 

https://www.realtor....d-saanich-gorge

[Matt R.]

West Saanich? Gorge?  Which is it?  

[Victoria Watcher]

West Saanich? Gorge?  Which is it?  

 

The "west (side of) Saanich", and in this case also near Gorge/Tillicum.

 

Edited by Victoria Watcher, 10 October 2024 - 03:36 PM.

[Mike K.]

It's the Greek restaurant on Gorge at Tillicum.

[Matt R.]

Ohhhh West saanich not saanich west. I get it.

When I see “west saanich” I sure don’t think of the gorge. Maybe just me?

Edited by Matt R., 10 October 2024 - 07:45 PM.

[Victoria Watcher]

Well, that's the thing about Saanich though, right?


West Saanich Road. Starts in Saanich and passes through two other Saanichs.
East Saanich Road. Not in Saanich.
Central Saanich Road. Not in Saanich.
Saanich Road. Only in Saanich.


North Saanich municipality.
Central Saanich municipality.
Saanich municipality.

Saanich Peninsula - geography.
Little Saanich Mountain.



Poor old south left out of the game. Although Saanich South is a provincial riding.

Edited by Victoria Watcher, 10 October 2024 - 09:22 PM.

[Mike K.]

The West Saanich designation is meant to throw you off, I guess.

The price started at well over $1 million two years ago.