So This Bar Down The Street Just Went Bankrupt - GoFuckYourself.com

GTS Mark · 04-10-2006, 08:47 PM

I was in there about a month ago and I pretty much called it... They were not accepting any credit cards just cash payment only.

Sure enough I was talking to Magnus this week and he says "oh yeah the so and so nightclub went out of business and they were pulling plasma tv's out of that place at 3:00am LOL!

It's amazing in this day and age that businesses will just grab all their shit and run in the middle of the night. Hopefully the landlord will be able to catch the fucker and get some money back.

This is the sole reason I don't rent any of my commercial space to restaurants/bars because of "fly by night" operators.

DH

xenigo · 04-10-2006, 08:50 PM

How exactly would a bar - a commercial establishment - (with a liquor license) be able to 'fly by night'? I mean, they've got the business license, sellers permit... there's all kinds of stuff they've got pointing to them. Doesn't seem like there'd be any way they could hide even if they bailed out in the middle of the night.

BJ · 04-10-2006, 08:50 PM

so who will you rent commercial space to?

Spunky · 04-10-2006, 08:51 PM

Probably their license wasn't going to be renewed

GTS Mark · 04-10-2006, 08:54 PM

Quote:

Originally Posted by PureMeds

so who will you rent commercial space to?

I rent to several different businesses actually right now

- chiropractors
- doctors
- massage therapests
- insurance companies
- sign makers
- lawyers
- mortgage brokers
- real estate developers
- storage use

Etc...

Not one of them have ran on me in the middle of the night. However I have had some residential renters that have done that.

DH

GTS Mark · 04-10-2006, 08:55 PM

Quote:

Originally Posted by xenigo

How exactly would a bar - a commercial establishment - (with a liquor license) be able to 'fly by night'? I mean, they've got the business license, sellers permit... there's all kinds of stuff they've got pointing to them. Doesn't seem like there'd be any way they could hide even if they bailed out in the middle of the night.

You would be suprised man, talk to someone in the bar business and I am sure they can tell you some horror stories.

DH

SilentKnight · 04-10-2006, 08:56 PM

Bars and nightclubs are always a chancy venture. I've lost count how many have opened and closed within a very short time over the years in Niagara Falls.

A good buddy of mine opened a sports bar with a partner and had high hopes and plans for it. Sank the better part of his life's savings in to it...and a lot of labour and sweat. He made all the right moves, the good decisions and it looked hopeful for a while.

But it turned out his partner was somewhat of a wanker, and would rather run it like a hobby than a serious business endeavour. Sat on his ass half the time, extended credit to customers he shouldn't have...and basically ran the business in to the hole.

They lasted about a year before they folded.

minusonebit · 04-10-2006, 08:57 PM

Oh, and you dont think mortage brokers and doctors will fly by night on you?

Downtime · 04-10-2006, 08:58 PM

that's pretty shitty, never heard of bar owners doing that actually

GTS Mark · 04-10-2006, 08:58 PM

Quote:

Originally Posted by Spunky

Probably their license wasn't going to be renewed

Nah, they had a sizable restaurant in this place but the food wasn't all that great. They went from 7 days a week operation only down to Thurs-Sun.

Plus the majority of their crowd was the 19-25 year old crowd... Which in this town is a pain in the ass, lots of fights and probably more trouble than what they are worth.

DH

xenigo · 04-10-2006, 09:00 PM

I thought a liquor license was sort of a golden ticket. Sort of a special thing to make those kinds of profits. I find it hard to understand why those kinds of businesses wouldn't succeed.

Sly · 04-10-2006, 09:02 PM

Clubs and bars are known to be pretty risky ventures. Anyone have some insight as to why that is?

GTS Mark · 04-10-2006, 09:02 PM

Quote:

Originally Posted by minusonebit

Oh, and you dont think mortage brokers and doctors will fly by night on you?

Nope they don't... The mortgage broker is a friend of mine and handles all my real estate deals LOL! So I know he's making money ;)

The doctors in Canada are alot different and more stable (for the most part) than what you guys have in the US. My father is a doctor and I know the trade very well....

However I have had ONE doctor that has fucked me around... But he is an exception and I inherited him from the previous owner of the building.

DH

BJ · 04-10-2006, 09:08 PM

Karma comes for those who don't honor debts. imo

GTS Mark · 04-10-2006, 09:12 PM

Quote:

Originally Posted by PureMeds

Karma comes for those who don't honor debts. imo

Yep I agree with you 100%

DH

JakeR · 04-10-2006, 09:22 PM

Quote:

Originally Posted by DrinkingHARDEST

I rent to several different businesses actually right now

- chiropractors
- doctors
- massage therapests
- insurance companies
- sign makers
- lawyers
- mortgage brokers
- real estate developers
- storage use

Etc...

Not one of them have ran on me in the middle of the night.
DH

i take it you haven't been in the biz long enough, take it from me, trust no one.

BlingDaddy · 04-10-2006, 09:25 PM

Quote:

Originally Posted by DrinkingHARDEST

I rent to several different businesses actually right now

- chiropractors
- doctors
- massage therapests
- insurance companies
- sign makers
- lawyers
- mortgage brokers
- real estate developers
- storage use

Etc...

Not one of them have ran on me in the middle of the night. However I have had some residential renters that have done that.

DH

True DH... Perhaps, someone would like to see a US club that just got slapped with a "smoking ban" that's a friggin bar... amazing how fast biz closes.
Bling

GTS Mark · 04-10-2006, 09:30 PM

Quote:

Originally Posted by JakeR

i take it you haven't been in the biz long enough, take it from me, trust no one.

Yeah I totally have no idea what I am doing... I am 100% gullible LOL!

DH

Peaches · 04-10-2006, 09:54 PM

Bars and restaurants are the worst businesses to own if you have friends. Everyone expects freebies and the owners give them thinking they'll bring in paying customers. Never works.

warlock5 · 04-10-2006, 11:28 PM

Quote:

Originally Posted by xenigo

I thought a liquor license was sort of a golden ticket. Sort of a special thing to make those kinds of profits. I find it hard to understand why those kinds of businesses wouldn't succeed.

Not even close, these aren't businesses you own if you want to make money. Some people are successful in a big way, but they are few and far between. The more I learn about other businesses the better the web looks.

chaze · 04-10-2006, 11:38 PM

So are you going to buy it and open a bar with discounts for GFY members?

madawgz · 04-10-2006, 11:45 PM

why didnt you spot him the money?

GTS Mark · 04-10-2006, 11:47 PM

Quote:

Originally Posted by chaze

So are you going to buy it and open a bar with discounts for GFY members?

Fuck yeah dude, can you lend me 100k for start up money?

DH

P.S. you can pay for your beers with posts

GTS Mark · 04-10-2006, 11:50 PM

Quote:

Originally Posted by madawgz

why didnt you spot him the money?

DH

04-10-2006, 08:47 PM	#1
GTS Mark Vrume Mark Industry Role: Join Date: Jan 2001 Location: Toronto, Canada Posts: 20,912	So This Bar Down The Street Just Went Bankrupt I was in there about a month ago and I pretty much called it... They were not accepting any credit cards just cash payment only. Sure enough I was talking to Magnus this week and he says "oh yeah the so and so nightclub went out of business and they were pulling plasma tv's out of that place at 3:00am LOL! It's amazing in this day and age that businesses will just grab all their shit and run in the middle of the night. Hopefully the landlord will be able to catch the fucker and get some money back. This is the sole reason I don't rent any of my commercial space to restaurants/bars because of "fly by night" operators. DH

04-10-2006, 08:51 PM	#4
Spunky I need a beer Industry Role: Join Date: Jun 2002 Location: ♠ Toiletville ♠ Posts: 133,964	Probably their license wasn't going to be renewed __________________ *YOUR INFORMATION HERE*

04-10-2006, 08:58 PM	#9
Downtime Confirmed User Industry Role: Join Date: May 2004 Location: America. Posts: 7,320	that's pretty shitty, never heard of bar owners doing that actually __________________ #27024067

04-10-2006, 09:02 PM	#12
Sly Let's do some business! Industry Role: Join Date: Sep 2004 Location: Austin, TX Posts: 31,363	Clubs and bars are known to be pretty risky ventures. Anyone have some insight as to why that is? __________________ Vacares - Web Hosting, Domains, O365, Security & More - Paxum and BTC Accepted Windows VPS now available Great for TSS, Nifty Stats, remote work, virtual assistants, etc. Click here for more details.

04-10-2006, 11:45 PM	#22
madawgz 8.8.8.8 Industry Role: Join Date: Mar 2006 Location: Noordermarkt Posts: 30,509	why didnt you spot him the money? __________________ TAEMDLRMSKRJIXMRLSMRJ.

04-10-2006, 08:50 PM	#2
xenigo Confirmed User Industry Role: Join Date: Jan 2001 Location: Oakland, CA Posts: 8,067	How exactly would a bar - a commercial establishment - (with a liquor license) be able to 'fly by night'? I mean, they've got the business license, sellers permit... there's all kinds of stuff they've got pointing to them. Doesn't seem like there'd be any way they could hide even if they bailed out in the middle of the night.

04-10-2006, 08:50 PM	#3
BJ Confirmed User Join Date: Mar 2002 Location: asia Posts: 5,590	so who will you rent commercial space to?

04-10-2006, 08:56 PM	#7
SilentKnight Megan Fox's fluffer Industry Role: Join Date: Oct 2005 Location: shooting pool in Elysium Posts: 24,818	Bars and nightclubs are always a chancy venture. I've lost count how many have opened and closed within a very short time over the years in Niagara Falls. A good buddy of mine opened a sports bar with a partner and had high hopes and plans for it. Sank the better part of his life's savings in to it...and a lot of labour and sweat. He made all the right moves, the good decisions and it looked hopeful for a while. But it turned out his partner was somewhat of a wanker, and would rather run it like a hobby than a serious business endeavour. Sat on his ass half the time, extended credit to customers he shouldn't have...and basically ran the business in to the hole. They lasted about a year before they folded.

04-10-2006, 08:57 PM	#8
minusonebit So Fucking Banned Join Date: Feb 2006 Location: [email protected] Posts: 7,391	Oh, and you dont think mortage brokers and doctors will fly by night on you?

04-10-2006, 09:00 PM	#11
xenigo Confirmed User Industry Role: Join Date: Jan 2001 Location: Oakland, CA Posts: 8,067	I thought a liquor license was sort of a golden ticket. Sort of a special thing to make those kinds of profits. I find it hard to understand why those kinds of businesses wouldn't succeed.

04-10-2006, 09:08 PM	#14
BJ Confirmed User Join Date: Mar 2002 Location: asia Posts: 5,590	Karma comes for those who don't honor debts. imo

04-10-2006, 09:54 PM	#19
Peaches Old broad Join Date: Oct 2002 Location: Away Posts: 13,933	Bars and restaurants are the worst businesses to own if you have friends. Everyone expects freebies and the owners give them thinking they'll bring in paying customers. Never works.

04-10-2006, 11:38 PM	#21
chaze Confirmed User Industry Role: Join Date: Aug 2002 Posts: 9,752	So are you going to buy it and open a bar with discounts for GFY members?