So, this is the last post about Matthew Antonovich until he opens a freakin’ restaurant in Dallas. He responds (sin spell check) to yesterday’s post:
Nancy,
Thanks for your interest in my culinary project, The Dallas concept raised 1.2 million and the adjusted 1.9 million to complete the project was to much to put into the area which only has one other new restaurant opening in and we did not sign the final lease after getting the final construction bids and cost for furniture, fixtures and equipment. My investors, a real estate development group I have been working with in Dallas is looking at another restaurant site and we are looking at the concept for that area, and will review plans again on this perticular location closer into the Turtle Creek business area.
My role constinues to be concept development and we are looking at a variety of scenerios for the concept. The Cresent Hotel area is where more restaurants are located and my group feels that being next to a variety of food service operations, would be better suited. As for Dallas I am interested in the project and will continue to work on it. I am also consulting for a large Food Chain and traveling. I working on variety of projects in the short term. Much smaller units, lower investments and turn key units that are fully equipted and furnished. I have opportunities in other cities which have lower rents, and smaller projects that will require less capital to open. Based on the last six months of consulting for food chains and hotel companies the market is not back yet and most companies I do culianary support for are trying to capture 25% or more of lost revenue and profits. It looks like a long recovery for the food and beverage industry, I do feel there are opportunities to find better deals on smaller start up restaurants than building from scratch at this time. We do beleive in our concept but want to watch the food industry trends get better. Thank you.
