There's a massive restaurant industry bubble, and it's about to burst...

92tide

TideFans Legend
May 9, 2000
58,146
44,863
287
54
East Point, Ga, USA
Are any of them still professional chefs? Anyone make a name for himself in the industry?
my brother quit the chef business after a couple of years and went back to school and then became an air force officer. none of them made it famous that i am aware of. not sure if any of them are still in the business or not (or alive for that matter). that crew partied like rock stars and most of them weren't the brightest bulbs, but they could all cook like nobody's business. it was fun living downtown before downtown was "cool" (i was living behind the claremont lounge) but i was trying to work normal hours and everyone else in my house and the houses around were working restaurant hours. that got old after a while.
 

MattinBama

Hall of Fame
Jul 31, 2007
11,144
5,453
187
Seems like Mamacalled owned a Firehouse Subs.
Now I gotta go get a tuna fish sammich.

I'm another of those that spent several years working in a restaurant. It definitely takes a certain passion to make that your career. People can make a lot of money doing it but way more end up with empty buildings.
 

Jon

Hall of Fame
Feb 22, 2002
15,635
12,545
282
Atlanta 'Burbs
Now I gotta go get a tuna fish sammich.

I'm another of those that spent several years working in a restaurant. It definitely takes a certain passion to make that your career. People can make a lot of money doing it but way more end up with empty buildings.
in my experience even the ones that make money in that business end up with empty buildings once the cocaine catches up with them
 

MattinBama

Hall of Fame
Jul 31, 2007
11,144
5,453
187
in my experience even the ones that make money in that business end up with empty buildings once the cocaine catches up with them
My experience is that the lucky ones build it up, sell, and let the sucker buyer run it into the ground.

That cycle has happened repeatedly around here. The best steakhouse in town was out of business in a month after selling to new owners. Hotel Talisi was a classic place nearby that went down right after new owners.
 

Jon

Hall of Fame
Feb 22, 2002
15,635
12,545
282
Atlanta 'Burbs
My experience is that the lucky ones build it up, sell, and let the sucker buyer run it into the ground.

That cycle has happened repeatedly around here. The best steakhouse in town was out of business in a month after selling to new owners. Hotel Talisi was a classic place nearby that went down right after new owners.
Yeah, I've seen that alot too.
 

92tide

TideFans Legend
May 9, 2000
58,146
44,863
287
54
East Point, Ga, USA
My experience is that the lucky ones build it up, sell, and let the sucker buyer run it into the ground.

That cycle has happened repeatedly around here. The best steakhouse in town was out of business in a month after selling to new owners. Hotel Talisi was a classic place nearby that went down right after new owners.
this happened with princeton's in t-town. and the sucker made it about a year and a half before the nose candy caught up with him
 

92tide

TideFans Legend
May 9, 2000
58,146
44,863
287
54
East Point, Ga, USA
Didn't Princeton's originate in Florence, Alabama?
yes. iirc, they had 3 restaurants in all. the sold the one in t-town (i think they kept the florence one at the time) and it went downhill at a super fast pace. the new manager did a lot to bring people in in the short term, but also crapped up a really good menu by cutting too many food costs and lost customers over time as it turned into a glorified ruby tuesdays
 

Tide1986

Suspended
Nov 22, 2008
15,670
2
0
Birmingham, AL
yes. iirc, they had 3 restaurants in all. the sold the one in t-town (i think they kept the florence one at the time) and it went downhill at a super fast pace. the new manager did a lot to bring people in in the short term, but also crapped up a really good menu by cutting too many food costs and lost customers over time as it turned into a glorified ruby tuesdays
In 1989 exactly one week after we lost to the Barn in Jordan-Hare stadium, I proposed to my wife in the Tuscaloosa Princeton's. We got a comped meal as a result.
 

Tide1986

Suspended
Nov 22, 2008
15,670
2
0
Birmingham, AL
Here's a column that discusses some of the same themes with respect to the apparel industry and other businesses in California:

http://www.latimes.com/opinion/op-ed/la-oe-salem-minimum-wage-20170102-story.html

Today, it’s cool to be a tech startup in Silicon Valley, but not to be an apparel industry startup in the San Fernando Valley. That needs to change. Not everyone has the inclination or aptitude to write code for Google or Facebook. Moreover, the lifespan of tech startups is shockingly short: 30% to 40% collapse and another 40% get bought, putting people continuously on the hunt for the next job. That is no way to live or to raise a family.

We need more stable, blue-collar jobs in places like the San Fernando Valley — the kind I thought I was helping create. California, however, has put up a giant “Go Away” sign. If President-elect Donald Trump is interested in learning more about the hurdles to adding manufacturing jobs in America, looking at the Golden State’s steep pay requirements would be a good place to start.
 

92tide

TideFans Legend
May 9, 2000
58,146
44,863
287
54
East Point, Ga, USA
In 1989 exactly one week after we lost to the Barn in Jordan-Hare stadium, I proposed to my wife in the Tuscaloosa Princeton's. We got a comped meal as a result.
cool. i worked there fall of 1990 til jan 1992. my last few paychecks, we had to wait for money to show up in the bank to cash them. i think it was in march or so of 92 that they shut down suddenly. no notice to anyone, the folks that showed up for the lunch shift were greeted with a sign on the door that said the restaurant had gone out of business.
 

Bamabuzzard

FB Moderator
Staff member
Aug 15, 2004
30,557
18,302
237
48
Where ever there's BBQ, Bourbon & Football
in my experience even the ones that make money in that business end up with empty buildings once the cocaine catches up with them
That's how people who are in it to make money do it. Those who are in it because food/cooking is their passion are the ones/"suckers" who buy it from the ones in it to make money and then proceed to run it in the ground. My wife taught two kids whose parents "flipped" three local restaurants, made a crap load of money on each, and all three went on to shut down afterwards.
 

TIDE-HSV

Senior Administrator
Staff member
Oct 13, 1999
84,527
39,616
437
Huntsville, AL,USA
I served tables while in college, too - I have mini panic attacks when I think about owning a restaurant...
My wife grew up in a family restaurant in Oxford and all of our six kids have worked in the food trades. All of them, from time to time, have felt tuggings toward starting a restaurant. We've done all we can do to discourage them. It ain't "serving," it's "servitude."
 

Wilson Monroe

1st Team
Jul 19, 2016
517
0
0
yes. iirc, they had 3 restaurants in all. the sold the one in t-town (i think they kept the florence one at the time) and it went downhill at a super fast pace. the new manager did a lot to bring people in in the short term, but also crapped up a really good menu by cutting too many food costs and lost customers over time as it turned into a glorified ruby tuesdays

The one in Florence took a sharp turn down. They let the one guy who was actually running the daily operations go and then everything went to pot. Spoilage is the name of the game. The one in Decatur survived a little longer. The one in Florence is now a Grogan Jeweler and the one in Decatur is a Sam's Sports Grill.
 

Jon

Hall of Fame
Feb 22, 2002
15,635
12,545
282
Atlanta 'Burbs
My wife grew up in a family restaurant in Oxford and all of our six kids have worked in the food trades. All of them, from time to time, have felt tuggings toward starting a restaurant. We've done all we can do to discourage them. It ain't "serving," it's "servitude."
My Mom grew up the same way, lived above the business and worked it every day before and after school until she graduated college. She has never felt the pull into the business but is still an amazing short order cook well into her late 70's she can handle anything we throw at her in the kitchen.
 

Bamabuzzard

FB Moderator
Staff member
Aug 15, 2004
30,557
18,302
237
48
Where ever there's BBQ, Bourbon & Football
Coincidentally since this thread was started a former neighbor of mine posted on FB last night he was starting his own catering business. This article immediately came to mind but I wasn't going to dare show it to him. It's something he loves so I'm just going to hope and pray he's apart of that small % who actually makes it.
 

MattinBama

Hall of Fame
Jul 31, 2007
11,144
5,453
187
Coincidentally since this thread was started a former neighbor of mine posted on FB last night he was starting his own catering business. This article immediately came to mind but I wasn't going to dare show it to him. It's something he loves so I'm just going to hope and pray he's apart of that small % who actually makes it.
I actually think catering is a little bit of a safer bet than having a set restaurant location although the two usually end up going hand in hand. Most the time if the catering goes well they end up opening a restaurant and then losing their butts and it costs them the whole business.
 

Latest threads

TideFans.shop : 2024 Madness!

TideFans.shop - Get YOUR Bama Gear HERE!”></a>
<br />

<!--/ END TideFans.shop & item link \-->
<p style= Purchases made through our TideFans.shop and Amazon.com links may result in a commission being paid to TideFans.