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WHAT TO DO? Should my wife sell Wombat's Womb Cafe'?


Wombat No More

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mikejwoodnz

Too big a menu, too many staff, too low prices - time to be the Boss - hire your wife (seriously).

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I have no choice but to continue as before my wife said anything today, and fund the operation until it kicks in and supports itself. This is what I was doing before today anyway. The only thing that

I think the real problem is too few customers. Cutting the menu and staff and/or raising the prices won't improve that. Now if you can cut the staff a bit, that will help the books but I think you m

Phil, you are here asking us for advice, but you are giving us very little to go on .   Why did you wife want this place built in the first place? [ or did she ever want it to be built ie was it

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Davaoeno

On the bright side Phil [ depending on your point of view lol ] , and you can ask either Smokey or me about this - to sell your place for 15 M might take you 5 years or more. Selling anything in that price range here is a whole new experience.

 

I see lots of filipinos here who want X pesos minimum - then sell for much less years later .

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Davaoeno

Too big a menu, too many staff, too low prices - time to be the Boss - hire your wife (seriously).

 

I agree with all of those. Phil - you have to decide if you want a hobby or run a business, because with what you are paying people, and how many people you employ, and the prices you charge - you are running a charity Phil and not a business. You want to be a nice guy and be extra generous ?- go do volunteer work. If you want to have a business - then run it like a business.

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sell it , you like to build but not to run it so you have gotten out of it what u like, so move on :)

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For Real

I dont see how that advice helps Phil at all as his wife doesnt even want to live in Australia at this time !!

and buy a house in Aussie to rent out until the day comes, in many years, to move back to Australia with the kids.

No point offering any solution until the issue is diagnosed.

 

What may or may not be the case is a wife feels that there is a better future in Australia for her and her children then struggling on in the Philippines (surviving your husband) - I 100% subscribe to this line of thinking. 3rd world countries treat the blokes far better then their family.

 

The financial advice to purchase in Australia is flawed, tax advantages are gained by negative gearing - unencumbered houses are N O T the way to negative gear. Translation, a future home (initially purchased as an investment property) is best achieved with the minimum deposit. NSW, NT, SA, VIC & Tas are all struggling financially implying the cost of entry is less

 

Where am I going? Once the issues are clearly identified there may be an option to have the cake and eat it

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tripsigg

Or do like the rich Filipinos do:

 

Get an appraisal on the building for 30million pesos. Get a bank loan using it as collateral. Invest the money in buying some property back in Oz. Don't make payments on the loan and let the government prop it up. When you finally lose the building, smile and go back to Oz.

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Alfred E. Neuman

Reduce overhead. Way too soon for doomsday.

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jtmwatchbiz

hi phil,

 

i don't know you or your wife but from what you have posted it seems like for the last 5 years it was you doing the work to build what you wanted, and now that i'ts open it's your wife's turn?

 

could be she does not like the type of work due to the set up and you may need to address that while keeping in mind the possibility that she may not be as into the project as you were, despite your good intentions...

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udonthani

could be well wrong here but I thought Wombat was on his third Filipino wife.

 

if one or at most two women have already got into the country for keeps by marrying him, there is of course no chance of a third doing it.

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jtmwatchbiz
Mate, I never did nor do I want to, run this place.

 

could it be that your wife is actually on the same page as you? perhaps james' suggestion of leasing it out and then taking your time to find a buyer is the best bet? i would also take ian's advice and slow down, calm down and have some very relaxed talks with your wife to see if you can figure out where exactly she is coming from and find some kind of middle ground on this issue.

 

one fact seems to stand out tho, your wife does not want to operate this place. 2 reasons come to mind: either it's due to the type of work, or she doesn't like that the place is not earning. if it's reason #1, you will have to lease or sell it. if reason #2, changes could be made to the business model and set up along with a bit more patience.

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Wombat No More

Bottom line is that I never intended to work at all in the actual restaurant. I'm not supposed to work more than 8 hours a week on this pension. The injuries I have which cause the pension, are graded to be, since 1987, 'totally and permanently incapacitating'. So saying, I don't work (except things for myself and when I'm always hurting as a result, well that was my choice and I suffer it silently) I never will and apparently my wife doesn't want to run the cafe either coz she has a headache problem that puts her down for a few hours 4 or 5 times a week. Well that's her reason anyway. (It must be me?)... I think she just hasn't got the heart for it and she just told me that she is concerned that I have no money left in Australia, lost my house there to a thieving Arab bastard here when I sold it to facilitate another business for my family, and I'm spending my 2 weekly pension mostly on the cafe now, leaving little of the money left each month. She doesn't want me to keep bringing my money here to prop up the cafe and I can't seem to talk any sense into her that this is always what was going to happen... If she gets more adamant, it will mean closing the cafe completely and putting a 'for lease' sign out also. That's what I'm waiting for next actually but with a bit of luck she will persevere until things pick up, but it doesn't help by takings on two days this week of P220 and P875 and one customer for about P200 today...

 

I don't know what to say, I didn't know her thoughts and wishes were coming. Most of you fella's aren't really telling me what I didn't already know, in that... Yes, I fully know and understand that a new business has been started and I knew well beforehand that it would be losing money for at least many months... Well, what was expected is happening, no surprise. That it is and will be, difficult to advertise in any real way, is and was a fact before opening. And I'm rapidly getting past being active at all in building and to be truthful, I didn't really enjoy building this place but it was just something I had to do. I've done it and now apparently she doesn't want it, but, I believe she's only thinking of me and how I'm struggling with my health and injuries... It doesn't seem to matter what I say about it to her... But I also guess, that at P15mill, she will have to wait a while for a buyer, even though it represents a reasonable value for what it all is. So, if it's 5 years like Davao says, I guess we'll see ya all at Wombat's sometime coz we'll be here for a while. She may change her mind when the place kicks into gear with customers and we actually take some money...

 

Sounds like he needs a little Capital. Davao can he hit you up for 10K USD?

Better idea... Instead of you paying him back the $10k Evan reckons you owe, just swing it my way and I'll owe Davo then...

Not enough to really go on, but my guess:

 

You seem to think the building is the primary asset. The business hasn't really evolved into an asset and is currently a liability.

Yep, we know that... But shit, only been open 2.5 months and I know it takes a lot longer to establish. I'm not bitching at all, eyes were open on entry etc. The wife wants it sold and that's it. I also know that it may take a while to sell, especially as there will be no entertainment of lower offers. So saying, as far as I'm concerned, it's business as usual and in a few months I'm sure it may be a real winner.

My guess is your wife views you as the primary asset. You allude to a major health problem related to the hard work you've put in. You see that hard work as your primary value. The hard work was never an asset, the future building was always clear as the asset. Perhaps your wife sees the building and all that hard work as secondary to you. That is probably very true, as she cares for me and what I have done to my body in building this place, to further deterriorate my conditions. If you go, she's stuck with a building that has some potential value but with a business that puts you all into debt day by day. Nobody builds a business to be in debt day by day, that's not a business at all. Of course, this is very early days and as expected we are losing right now but this will not continue to be so. Might be wise to slow down as others have suggested. I don't really know what you folks mean by 'slow down'? There is nothing to slow down, the cafe is open, I'm paying for the priveledge at the moment but that will turn. Apart from not going to the markets to restock, there's nothing to slow down. (and it didn't help when my cook just came into me and showed me a kilo of frozen french fries saying that's all we have left Sir... I got annoyed and told him I was at that very market the last 2 days in Cebu and I could have restocked, now I have to go back to cebu today. Somedays they make it hard) Your dream and plans may just be yours alone. If you have a long term vision, you need to make sure that others know how to play that...maybe they don't. My dreams and plans meant spending my pension, while I still had it (meaning that while I was still alive), to enable my large family to survive in the event that I might die. It's nearly there but the wife appears to have pulled the pin before we could get going. Call it insurance rather than a dream.

 

As I said, I'm just guessing. Wish you luck.

 

(Sorry my best guess, but you leave out a lot of important information.)

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Wombat No More

could be well wrong here but I thought Wombat was on his third Filipino wife.

 

if one or at most two women have already got into the country for keeps by marrying him, there is of course no chance of a third doing it.

While that is true (2 foreign sponsorships only, in a lifetime) you don't know of the last few words in the Act that says "unless you have compelling grounds". And I have compelling grounds in the bucketful. My only problem with the Act is that I will have to pay about $1500 for the sponsorship application. I'm not sure if they will accept the addendum to the application stating the "compelling grounds". I'm thinking that the mongrels (and they can get very bloody with folks) might reject the application as I have had two previous sponsorships, and tell me I must now put in the appeal application, which must be about $1800 by now. If they do this I think it would be very unfair to double dip with fees especially with a disabled veteran pensioner on no other income, thus making it even harder to afford it all, including maybe $5k in airfares and at least that again to get our gear back to Oz.
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Headshot

Good luck Phil. Tell her that regardless of what you do with the restaurant, it needs to remain open until it is sold. If it takes a while to sell (which at 15 million pesos I suspect it will). then maybe you can turn a profit and she will change her mind. Then again, if she never really wanted to run a restaurant (and all the risk that entails), then maybe you're spinning your wheels. However, if you get 15 million pesos out of it, you can figure out another way to ensure your family's well being in the future using that money.

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Alfred E. Neuman

Or do like the rich Filipinos do:

 

Get an appraisal on the building for 30million pesos. Get a bank loan using it as collateral. Invest the money in buying some property back in Oz. Don't make payments on the loan and let the government prop it up. When you finally lose the building, smile and go back to Oz.

 

For sure his kids will be eternally grateful and follow the right way to live.

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KeithAngel

I think this was never much to do with your missus Phil and if you really sunk 15000000 piso in it then im not suprised she wants out

 

At 3% return thats around 40000 a month and any Phillipina could manage very nicely on that with the capital secure your resto would have to be turning over how much to generate that?

 

Nothing to stop your family working out what to do when your gone they arnt retiring are they?

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