Jump to content

Buying a Failed Restaurant & Turning it into a Great One!


Recommended Posts

fred42

Depends on your location of course but where I live there are a few expats that buy small lots and put small one and two bed units and simply live off the rent..

The guys I know that do it don't even declare it as a business..

They rent to expat regulars but providing daily,weekly monthly rates for furnished units will yield much more..ROI time scale seems very acceptable when managed correctly ..

Put a small bar and bbq in there and you may have customers on your doorstep.

.

  • Like 1
Link to post
Share on other sites
  • Replies 57
  • Created
  • Last Reply

Top Posters In This Topic

  • BadDog

    6

  • smokey

    6

  • udonthani

    4

  • Experienced

    3

Top Posters In This Topic

Popular Posts

haven't you seen them? They're crap spenders. The average age is far too old for them to be going out and socialising and spending money really freely the way you want them to all the time, they haven

On 1st May, I will have "Lived in Cebu" for 11 years, so do have some experience on what it takes to live here, and the problems and pitfalls of generating income to live off.   Starting a Business

It is never a good idea to buy a failed or failing business, unless it is your specitily and can plainly see why it is not making money. No one wants there business to fail so you can bet the oweners

SkyMan
btw, another thing I might consider is buying a small lot for the future in this area if I can get it cheap and of course that will not happen until I get married. That way we can live in the home and build a restaurant ourselves in the future if we want...
You might get lucky but most often cheap and good location for a resto or whatever are mutually exclusive.
Link to post
Share on other sites

 

 

But it has been interesting to hear what you all say so I guess I'm now shying away from the idea if it's that bad although I have spent a lot of time reading many old posts here on the subject. I do know running a restaurant is hard work and would take a lot of effort but believe me I know without a doubt if I had the opportunity and with my vision I would have one of the most successful restaurants here.

 

They are all mainly focused on foreigners here but the way they do things is all wrong. For a start they have about a thousand items on the menu, this means extremely hard work for the staff and confusion for the customer along with the fact if you are experienced in dining out it shows unprofessionalism. Menus should be simple, appetising, written well and changed regularly. The menu boards outside the restaurants are dirty, confusing, badly written etc. Then they hand you the one at the table and they look like they were written by school kids that are grubby, maybe 5 years old, falling apart etc, who wants to eat food in a place like that?

 

This is just touching the tip of the iceberg on why restaurants fail here. I have been a chef for many top restaurants and I do know what makes a successful one compared to a bad one. Although I was not a head chef besides smaller cafes etc and mainly a sous or 2nd/3rd chef but I still have a lot of experiences from when I was a bit younger.

 

 

 

Excellent post.

 

I have tried dealing with expat businesses here in a number of fields, including several of thise that advertise/market their wares on this very board.

 

They were all, without exception, completely useless; incomparably worse than 99% of the filipino businesses I have dealt with. The reason that most expat businesses fail here is because the managers seem to be under the impression that because they come from the west, they have an innate business acumen which the locals lack. Nothing could be further from the truth. They fail because theyre incompetent.

 

However, closer the Op, if I was going to open a restaurant here (and Im not) , I would do it in "downtown cebu" and one of:

 

1: cater to the Russians who have taken over Thailand and will shortly arrive in Cebu. I've already seen them milling about Manila.

2: cater to rich Chinese

3: open an expensive authentic French restaurant.

 

Once those tall blond young Russians arrive en masse they will clean up with the local girls, so the older whale boys probably best not wait too long to claim their young love in marriage. Yes I know most Russians are drunks, but so are many of the expats here, so that doesnt change anything.

  • Like 1
Link to post
Share on other sites
jusjoseph
Russians who have taken over Thailand
and Vietnam.
Link to post
Share on other sites
littlejohn

we have a 3 hectare farm and we hired a guy to plant mango .. corn .. sweet potato etc and before we could harvest someone else harvested most of the plants so add security to buying farm land

 

Yes if you grow anything edible you have to live there have a fence and dogs, timber trees are a little less risky but I would still have smone live there to keep them from being grazed early on or later stolen but it is a lot harder to steal whole trees, most pinoys dont have a log truck you know. We have a patch of cocnut trees that gets skimed regularly we have to harvest them early cutting production or we dont get much. We tried growing pineapples planted 500 and never got ONE they were stolen long before they were ripe, I guess they had to compete with the neibors for those.

Link to post
Share on other sites
smokey

Yes if you grow anything edible you have to live there have a fence and dogs, timber trees are a little less risky but I would still have smone live there to keep them from being grazed early on or later stolen but it is a lot harder to steal whole trees, most pinoys dont have a log truck you know. We have a patch of cocnut trees that gets skimed regularly we have to harvest them early cutting production or we dont get much. We tried growing pineapples planted 500 and never got ONE they were stolen long before they were ripe, I guess they had to compete with the neibors for those.

 

 

 

my wife said that is one of the reason for the problems in the deep south.... like her grandfather and her father they are farmers and plant and when harvest time comes the gangs show up to TAKE the crops... most often the money earned was used to pay dowry for one of the 4 wives needed

Link to post
Share on other sites
littlejohn

Well here it's not muslims. Its a catholic area very few muslims and they are generaly well behaved. Its just the protect it or its mine mentality

Link to post
Share on other sites
ArieBombarie

you would have much better odds taking your 10K to the casino I would think, the chance you lose it all is about the same but if you win you do it a lot faster and bigger.

Link to post
Share on other sites
smokey

Well here it's not muslims. Its a catholic area very few muslims and they are generaly well behaved. Its just the protect it or its mine mentality

 

 

 

oh its just the old robin hood theory ... why work when you can just harvest

Link to post
Share on other sites
ArieBombarie

my wife said that is one of the reason for the problems in the deep south.... like her grandfather and her father they are farmers and plant and when harvest time comes the gangs show up to TAKE the crops... most often the money earned was used to pay dowry for one of the 4 wives needed

 

you don't need gangs for that in RP, next crop is often already morgaged (by the rice dealers they sell it to)

Link to post
Share on other sites
smokey

you don't need gangs for that in RP, next crop is often already morgaged (by the rice dealers they sell it to)

 

 

 

well our crop was not))) i let the wife do her thing even though i had my ????? first she needed the farm cleaned.. then fenced,,,, then a shantie for the worker ,, then furnish the shantie ..then a rest house on the farm then tools.. then the two full time guys and one part time pay... in one year i figure she spent about 150 to 200,000p but we were going to get it all back at harvest time.. ha ha ha we received about 100 green bananas and half a bag of komotoe potatos and 3 jack fruit... she was shocked on how and why they would do that to HER ... i told her well honey they know your married now and figure she dont need the money and we are poor... no farming this year and that is too bad for the workers..

Link to post
Share on other sites
  • 1 month later...
Kevin_S

BadDog, You seem to have a plan, but lacking start-up capital. Have you considered the option of seeking a partner, or investor perhaps? Of course, that can present new problems in itself, too.

Link to post
Share on other sites
Alfred E. Neuman

To the OP, been there done that. I can't recall a restaurant takeover that flourished.

Link to post
Share on other sites
Guest
This topic is now closed to further replies.

×
×
  • Create New...

Important Information

By using this site, you agree to our Terms of Use, Privacy Policy and Guidelines. We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue..