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

[Wombat No More 2,085]

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 appears to have changed, is that the place is for sale and if someone fronts up and wants to buy, then so be it. Personally, I'm in no hurry to do that but don't need to upset family by being a stick in the mud and unmoving. My wife and I have an excellent relationship and her care for me and our kids and others around us, is clear to see and read. I rule the roost but I do not stand in her way for her opinions and things she wishes to do etc, unless I disagree and then will try to reason with her or point out things she might not know. I haven't argued with her on this thread matter and don't intend to as all I can do is point out a few things to her and let her mind make decisions. I don't force her into things and will not start now.

 

She has read this entire thread and is now annoyed and a little teary at reading some of the comments about her, things like being stupid (not removed by Alan) and intimations that I keep marrying Filipina's who rip me off (removed by Alan). And on the latter Udo, I've never been ripped off by a Filipina... What's it like?

 

And again, it is hard to take big hits every month but I expected it... My wife is suffering hard on all the money going out right now and doeasn't want my money gone like this. This is what is behind her wish to sell up and she just told me that the food in our houshold at the rear, has been greatly reduced because of the loss thus far and they aren't eating anywhere near as much... I told her that it's crazy and to stop doing that as nothing is happening that wasn't expected in the early stages of the business. I can just talk to her nicely and calmly and as her partner in life should, care for her feelings, after all, her decisions are based on her care for me and the money that has gone since I moved to the Philippines. She's a good girl and I'm lucky someone cares for an old bastard like myself...

[Davaoeno 37,489]

things like being stupid (not removed by Alan)

 

actually that was a typo by Faluango - he meant to say that she was far from stupid but instead said " .Your wife is by far stupid " I read it several times before i realized what he meant and so didnt attack him about it. I think it was an honest mistake [ and i dont go out of my way to defend the guy very often !! ]

 

 

She's a good girl and I'm lucky someone cares for an old bastard like myself... i think you left out ugly old bastard Phil !!

Edited June 14, 2012 by DAVAOENO

[broden 57,115]

sounds like a happy medium to me for now. not a fire sale but if someone ponies up a fair price ......

[SkyMan 23,700]

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

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 may be at minimum there already. I agree with the idea of selling on the street level and suggesting they take it upstairs to eat will bring in more locals which is what you'll need. Right now the locals probably think it's some kind of clubhouse for rich foreigners and they aren't welcome. Due to the location you'll just have to bring in more locals.

[KID 9,678]

wombat,

 

Seems like the problem here is CASH FLOW.

 

your wife is used to being fairly well off by Filipino standards and now your sinking most of your money into just keeping the business afloat--- Thus leaving momma with no money for whats she wants and needs.

 

If the restaurant was doing well would your wife be more interested in running it ???

 

Is the major allure for your wife to sell out the big price--IF IT WAS TO EVER SELL ??-- you know real estate in th Phil's. !!

 

Or is it she feels that you may never get your money back that you have invested and it's time to cut the losses??

 

 

wombat needs to do whats best for wombat-- seems like you enjoyed the build but it was taxing on you physically and your tired and done.

 

Your having to spend time managing the restaurant -- you never wanted to do this--- this is HER part of the deal and you don't much enjoy it other than bullshitting the customers !!!

 

seems like you have done YOUR part of the plan and now its her turn !!!!

 

But the real questions should be

 

how long are you willing to take a loss before pulling the plug??

Will you wife run it even if it does well??

If you sell-- will you get your money back??-- How long will it take to sell??

Can you family's finances hold out till the business takes off IF your wife decides to do her share in running things ??

If you sell out completely-- all property-- what/where will you go/do next????

 

And the most important question of all--- what going to make wombat happy !!

 

 

judging from your post's about your daily receipts-- business is not only poor but dismal !!!-- especially for as much money as you have invested !!

 

sure start up business usuallydon't take off for at least a year but you need to get the business monthly costs reduced to the point it is not eating into your household money or momma is not gonna be happy

 

sounds like you need to cut through all The Filipina " IT'S UP TO YOU"-- god help ya

and find out what your wife really wants-- and whats made her come to those choices-- And if things were different in the situation--would her choices be different !!

 

best of luck

kid

Edited June 14, 2012 by KID

[dHb 244]

Could I put in my 2 centavos worth?

 

First of all, I don't know the location that well, but if the traffic on the road is mostly Filipino, why not change the menu around? Offer up a variety of Filipino dishes like BBQ, etc to attract attention?? A theme night (Sabado nights) every Friday or Saturday could bring in a crowd. Maybe some combo orders (main dish, rice with drinks like McDonalds/Jolibee/Inasal) could also generate some interest.

 

Second, it would be almost impossible get a buyer at 15 million immediately - leasing it would be a better option until a buyer comes around.

 

Third, maybe use the space for another type of business?

 

Sometimes looking at business from a FIlipino viewpoint as opposed to looking at it with YOUR eyes could make a difference.

 

Your wife seems to a pretty practical woman (like mine) so ask her what she would want to do with the space - at least until you get a buyer. It may mean giving up on the cafe but as you said, you did it for her.

 

Good luck and God bless.

Edited June 14, 2012 by dHb

[Hamm 797]

Phil -

 

Since learning of your struggle to keep what sounds like a great place you put your heart into going, I've read a lot of good suggestions on marketing to establish a customer base. Are you pursuing any of those now?

[smokey 21,912]

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 .

 

 

the hard part is to sell for what it cost will require it to be a successful place first question in ANYONES MIND IS why is the guy selling..

[smokey 21,912]

I am of course not talking about deceiving anyone, just about leading someone into an area of discussion that they would not normally want to deal with. I believe that all family counselling uses certain methods to achieve results that are not necessarily discussed with the participants.

 

 

 

 

from the stand point of even thinking of selling he needs to show its worth more then just the building..... like an apartment complex much easier to sell when its fully rented then used and empty... i think he needs to find a way to make his place a Meeting place and the easiest is thru foreigners not only can he gain some traffic but maybe one of the guest will want to make this place his dream.... darts ,,, pool ,,,, poker .... something ..... to draw and it is a hard place to find and someone way smarter then me will know how to drive traffic.. this could help his family discussion and for sure help him in finding a buyer.

[Alan S 4,607]

That is a valid point.

 

Selling a business that is making a loss, is unlikely to get the best price for it.

[tom_shor 1,202]

Hi Phil

 

I agree with your wife if you can sell for 15 million which converts to A$357,000,this will buy a decent place to live in Australia with no mortage, your kids will benifit from a better education and health services. With your pension you should live a comfortable life.

 

If you need more income your wife can earn at least A$16.00 an hour, your wife is obviously thinking of the future of your kids, too many expats don't think of their kids welfare and just put them in Phiippine schools and hope for the best.

 

Good luck whatever yo decide

 

Ian

 

I wonder though the way the real estate market is there if he will get anywhere close to that amount. Even then it may take years to sell it.

 

Or maybe not. Most of what I have seen is residential properties but I remember a house near a friends place in Balibago that was for sale for at least 5 years. I don't know if they ever sold it.

[smokey 21,912]

I wonder though the way the real estate market is there if he will get anywhere close to that amount. Even then it may take years to sell it.

 

Or maybe not. Most of what I have seen is residential properties but I remember a house near a friends place in Balibago that was for sale for at least 5 years. I don't know if they ever sold it.

 

 

only 5 years .... now mine has been for sale over 6 and i have remodeled ed it at least 4 times so how smart can i be.. to sell as a restaurant it needs to show its a money maker .... or has to have a super location... look at the other thread on the place charging money just to sit down and somewhere between where phil is now and there is where he needs to be to sell for anything close to what he has invested... A possibility would be to try to draw a younger group they have money... Is his place posted on face book the bible for the young in cebu

Edited June 14, 2012 by smokey

[Davaoeno 37,489]

the hard part is to sell for what it cost will require it to be a successful place first question in ANYONES MIND IS why is the guy selling..

 

Facts of life in the local real estate market :

1. what it cost you to build is irrelevant to potential buyers

2. the fact that you built it to Australian standards and used lots of great concrete blocks and lots of steel is irrelevant [ ask Ozpete about this ]

3.the fact that you put lots of love and thought into the design and structure is irrelevant

4. the fact that you have a wheelchair lift and a circular staircase to the roof is irrelevant

5 the fact that you are located in a hard to find fairly remote place makes your place very undesirable to potential buyers

6 the fact that you expect to get more money because your place has great ambiance is irrelevant

Edited June 14, 2012 by DAVAOENO

[Mr. Mike 10,446]

After reading your OP Phil, I thought I had all sorts of good advice to give, but the members (to their credit) have pretty much covered all of the bases.

 

You have a lot of fans Phil, and we all want your Cafe to succeed. More importantly, I believe every member here wants you and your family to be happy and secure in the years to come.

 

That said,,,,,,,,, as frustrating as things might appear at the moment, I have every confidence that you and your wife will make the right decisions in the end.

 

Good Luck and God bless!

[Davaoeno 37,489]

You have a lot of fans Phil,

 

i'm not a fan of Phils- i just want him to succeed so he will quit whining all the time !!