OT - Anyone here own a restaurant?

One other thing... I have noticed that many of the basic hotels I've been
around have no restaurant attached to them, but are built in an area that
has lots of separate basic restaurants nearby. I'll bet there's a reason
for this.

That's what we are now. In fact, within 1 mile of the inn, there are
currently over 50 restaurants. Six of them are within walking distance.

It's a university town. Unemployment is non-existent, everyone works for
the Gummint, and there are lots of underworked, over-paid people that have
time on their hands, yet eat out every meal.

Unfortunately, most nearby restaurants are either "bottom feeders"
(McDonalds/Wendy's/KFC/etc.), or "top feeders" (fru-fru restaurants with
tiny portions and over-sized prices). There are no "middle of the road"
restaurants, which (IMHO) presents an opportunity.
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Jay Honeck wrote:

One other thing... I have noticed that many of the basic hotels I've been
around have no restaurant attached to them, but are built in an area that
has lots of separate basic restaurants nearby. I'll bet there's a reason
for this.


That's what we are now. In fact, within 1 mile of the inn, there are
currently over 50 restaurants. Six of them are within walking distance.

It's a university town. Unemployment is non-existent, everyone works for
the Gummint, and there are lots of underworked, over-paid people that have
time on their hands, yet eat out every meal.

Unfortunately, most nearby restaurants are either "bottom feeders"
(McDonalds/Wendy's/KFC/etc.), or "top feeders" (fru-fru restaurants with
tiny portions and over-sized prices). There are no "middle of the road"
restaurants, which (IMHO) presents an opportunity.

It may be an opportunity, or it may be that their is no market for a
middle of the road restaurant. Only one sure way to find out though...

:-)


Matt

Jay Honeck wrote:

It's a university town. Unemployment is non-existent, everyone works for
the Gummint, and there are lots of underworked, over-paid people that have
time on their hands, yet eat out every meal.

But *your* customer base is mostly from elsewhere and doesn't fit that profile.
You should figure out what they are likely to want and try to provide that. You
are also in a unique position to match your hours of operation to the arrival
times of most of your guests, or perhaps provide room service at odd hours. I
still have unfond memories of checking into a hotel in Savanah five minutes
after the restaurant closed.

George Patterson
Coffee is only a way of stealing time that should by rights belong to
your slightly older self.

"Jose" wrote

One other thing... I have noticed that many of the basic hotels I've been
around have no restaurant attached to them, but are built in an area that
has lots of separate basic restaurants nearby. I'll bet there's a reason
for this.

But Jay's hotel is anything but a basic hotel. I think opportunity lies
with this fact.

Still, he will need the walk in clients, but lots of other choices nearby
still do nothing to keep the parking lot from being full, if the formula is
right.
--
Jim in NC

"Jay Honeck" wrote

Iowa City is like the "anti-Iowa" in many ways. It's got dozens of
"fru-fru" restaurants (a rarity in the rest of Iowa), thanks to the
University crowd, all of which serve tiny portions at outrageous prices.
You can get excellent Indian, Vegetarian, Mediterranean, Japanese, French,
and California (whatever *that* is) cuisine -- but you CAN'T get a decent
burger or breakfast served all day for less than $15 per person.

IMHO, a restaurant with those two items, reasonably priced and served
fresh, would make a mint in this goofy town.

I see a need for a dual restaurant. One, with a low profit margin, going
with the cheep burger and breakfast all day, more like a grill. Another
"fine food" with the killer atmosphere and fancy food, to suit the high
rollers that fly in for a fantasy weekend. Also, the people around town
that want to spend for the suite and/or a great meal, anniversary dinner, or
whatever have their night spot, and you get a higher profit margin.

The advantage of having a place to stay that has food on site has great
appeal. Having a grill for breakfast and lunch, then a 5 star meal at night
is a real draw, I think.

Will it be possible to have the plane parking for hotel use, also? That
sounds like another winner. A heated and AC walkway attached to the hotel
would be another plus.

As I see it, you need to purchase that land. There is no other buy that can
give you the possibilities like attached land can give you. For that plot,
all you can say is location, location, location! g, and it does not come
available, every day.

Sorry for rambling. Just a few thoughts.
--
Jim in NC

I see a need for a dual restaurant. One, with a low profit margin, going
with the cheep burger and breakfast all day, more like a grill. Another
"fine food" with the killer atmosphere and fancy food, to suit the high
rollers that fly in for a fantasy weekend. Also, the people around town
that want to spend for the suite and/or a great meal, anniversary dinner,
or whatever have their night spot, and you get a higher profit margin.

We also want to make the first floor available for banquets. Banquet halls
are in very short supply in Iowa City, for some reason.

As I see it, you need to purchase that land. There is no other buy that
can give you the possibilities like attached land can give you. For that
plot, all you can say is location, location, location! g, and it does
not come available, every day.

Absolutely. I see that land as key to our future business -- to the point
where if we DON'T get the land, we may as well close up shop. (Depending on
what would be built there, of course...)
--
Jay Honeck
Iowa City, IA
Pathfinder N56993
www.AlexisParkInn.com
"Your Aviation Destination"

Just curious Jay, I have no idea what the economy in IA is like, what
kind of money are we talking about?

The Monk

Jay Honeck wrote:

We also want to make the first floor available for banquets. Banquet halls
are in very short supply in Iowa City, for some reason.

In that case, you might collaborate with some local organization. Here, many
fraternal orgs (like the Knights of Columbus) rent out their meeting halls as
banquet halls. Perhaps you could do the reverse.

There's also a diner in Edison, NJ (called "The Pines" for some reason not
involving trees that I can see) that does exactly what you have in mind. Most of
the money comes from being a typical New Jersey diner, but they have room for
banquet hosting.

Jersey diners are real phenomenae. Large meals, lots of selections, reasonable
prices, and open long hours. Don't know how they do it.

George Patterson
Coffee is only a way of stealing time that should by rights belong to
your slightly older self.

I've worked in my family's bakery, been a short-order cook and
a bartender. What you're proposing sounds fantastic...if it weren't
in Iowa, away from the mountains (75 min. door to door for skiing)
I'd be there post-haste!

Yes, you need the banquet space.

Start with breakfast & lunch OR only lunch & dinner. Once business gets
established, then go for more.

Does the university have a program in hospitality? If so, the
faculty will probably have the experience you need. Otherwise,
you may want to contact some of the schools (Johnson & Wales,
Colorado Culinary Arts, Food Network, etc) about it.

It's a business -- you need a business plan, etc.

You may also want to contact some of the more successful
restaurants at airports. These shops really do a very
large catering business for the bizjets, etc. in addition to
the walk-in crowd. "Perfect Landing" at APA is a great
example. They used to be open only for breakfast & lunch but
last year also opened for dinner (usually only the locals will
be there for dinner). Booming business.

If the school has a hotel & restaurant program, then they'll
be delighted to use you as an internship source! Experience
for the students, affordable labor for you.