Is Dominic's In LSL Still Open?

[Villages Kahuna]

There was lots of discussion in an earlier post about incidents of awful service at Dominic's. Then there was one brief post wherein someone said he had heard they had filed for Chapter 7 bankruptcy (liquidation).

Is the restaurant still open, or have they turned the lights off and gone?

[Fourpar]

It was open yesterday. Don't know about today as we had to return to Destin today....We've heard that it isn't long for this world however!

[Donna]

Why are so many restaurants going out of business? It is certainly not for lack of customers, is it the exorbitant amount of rent they pay??

[jadebox]

If they serve good food at a reasonable price with good service they will survive and thrive.

[carlent]

yes it is the rent they pay. For example.....the space in Spanish Springs that was FIREHOUSE SUBS was available...only 1100 sq ft and they wanted $6500 a month triple net lease.
Now, you od the math....what kind of sales volume would you have to do to afford that kind of rent. IT is a wonder to me that some have stayed alive so long.

Carlent

[chelsea24]

Another Big City Diner is going into the spot where Firehouse Subs was, so I heard. :dontknow:

[Donna]

...only 1100 sq ft and they wanted $6500 a month triple net lease.



That is just wrong?? How are these businesses supposed to pay these prices, and make a profit???

Greed is the word!!!

[Russ_Boston]

I don't know if the price is correct but DUH - if you (as the owner of the space) could get that amount then you take it. If no one takes the space then you lower the price. Don't blame the seller, blame the buyer. These vendors need to do their math and determine if they can make a profit. If the space goes unoccupied then the owner will lower the monthly lease.

YES, IT IS THAT SIMPLE!

[Donna]

If I owned a strip mall, or stores on the square, I would certainly want to make money, as well as see businesses succeed...

I would not want my stores empty, that is defeating my purpose...

I agree, the square is prime location and yes the buyer should do the math..I can understand the stores on the square commanding more money due to prime location, but do you think these high rents are feasible??

[Russ_Boston]

Easy answer to that one Donna - If someone pays them yes they are reasonable. If not then no they need to come down. Nothing more than market economics 101.

Remember that both sides do the math. The seller determines the amount of vacancy that they can stand and prices accordingly. The buyer determines how much they need to charge for the chicken parm entree or the price for a pair of shoes or whatever and decides to rent or not accordingly.

Don't worry, if the store stays empty for some time the price will come down enough.

[carlent]

Russ

Here's the reality of it. The owner's of the spaces in the squares (and other locations) do not budge their price. Look at the number of vacant spots and look at how long they have been empty. do you see the prices coming down per sq ft. No you don't. they hve the resources to sit on those properties and wait for some poor sucker to come along and think they can make it work at that price. That's the rality of it. I inquired to the leasing company that handles all that buisness about the space that was once Firehouse Subs. These are real numbers. they were cold and hard and really had little interest in whether or not we were interested in that space. Actually we were interested if the price was fair. Of course we made no move on it as we are a "Mom and Pop" small business that could not afford those numbers. that is why it is now a 100% or close to that, , franchise store or ,restaurant that comes to TV. that is why you do not see "Mom and Pop" locally owned or people like us with a nice store that is popular where we live, coming to TV. That is why it is about impossible for a small business owner to come to TV unless they have really deep pockets. The price per sq ft is out of sight!


Carlent

[Russ_Boston]

And the problem is?

You can not expect 'the family' or any other RE owner to take less than they think they can get. They owe NOTHING to mom and pop. They are under NO obligation to anyone to let them have a place for less than they can get for it. If they are truly being just greedy then the market will bring them down eventually.

I get a little tired of TVers who think the Morse family et. al. owes them anything. It costs more to have a restaurant in Manhattan then it does in Brooklyn. And it costs more per square foot in TV than in does in Fruitland Park. Those are just the facts.

I know that I sound arrogant and I have no stake in this yet but this discussion is just plain silly. I say let the stores be vacant and sooner or later someone will move in. If they don't do their homework and go broke with their venture then so be it.

Respectfully - Russ

[Shirleevee]

My husband (Sailor) and our friend ate at Dominic's today.

We love their Margarita pizza. After the horrible and very ($24.50) expensive pizza at Bravo, we found Dominic's and they know how to make pizza. Service is slow, but then again, we are from NY and everything south is slow to us.
At my age that is a good thing.

Shirleevee

[graciegirl]

And the problem is?

You can not expect 'the family' or any other RE owner to take less than they think they can get. They owe NOTHING to mom and pop. They are under NO obligation to anyone to let them have a place for less than they can get for it. If they are truly being just greedy then the market will bring them down eventually.

I get a little tired of TVers who think the Morse family et. al. owes them anything. It costs more to have a restaurant in Manhattan then it does in Brooklyn. And it costs more per square foot in TV than in does in Fruitland Park. Those are just the facts.

I know that I sound arrogant and I have no stake in this yet but this discussion is just plain silly. I say let the stores be vacant and sooner or later someone will move in. If they don't do their homework and go broke with their venture then so be it.

Respectfully - Russ


What you just said is reasonable and true. It is the same everywhere. As a rep I was ALWAYS telling people who wanted to buy my line and start a business, to NOT sign a lease until they had done the math. So many people think they can have a good plan and make a fortune, selling some obscure thing or service. I am astonished at the lack of planning on the part of these people.

The reasons chains make it more often is that they KNOW what they are doing and have investigated the demographics and business climate before entering the area.

[carlent]

Yes Russ you do sound very arrogant and angry at the world. I am sorry you feel this way. Those who live in TV are not asking to be treated different. They are asking to be treated farily. Don'w you think it would be an advantage for all residents of TV to have some family owned ie, momn and pop business in TV? Don't you think it would add to the quality of life in TV? Chains are fine, they serve a purpose and they can afford to pay huge sq ft numbers. It has nothing to do with Mom and Pop not knowing how to forcast their numbers. It has everything to do with Mom and Pop being priced out of the market. I don't know about you, but I do would rather live in TV and know that I have the ability to spend my money with small business, not 100% with large chairns who come to TV thinking we all have such deep pockets that we are all willing to support them at prices they have to charge because of the cost of doing business here. this is not a silly discussion at all. It is the essence, the lifeblood of our existence of living in TV. Our ability to live in a diverse community, where all have the shot at success. I am getting tired of just having to look at the Outback Steakhouses, the Red Lobster's, the Domino's of the world and on and on and on.


Carlent

[graciegirl]

Another reason that chains are more successful than some smaller businesses is that they buy larger and can get discounts from manufacturers and some do pass that on to the customer and probably is the reason they succeed.

It is more of an issue of what is happening in today's market than not liking to patronize family owned business.

[Russ_Boston]

Carl - Arrogant - OK.

Angry at the world? You obviously don't know me. I'm being very realistic. I do the math and THEN determine if the business will be a go. If not then I look for a cheaper site and redo the math to make sure I still get the same foot traffic etc.

Angry at the world? You may never meet a more positive upbeat person than me. Maybe we can meet when I get down there and we'll share a drink and a laugh at this.

And besides it's my birthday, I can't be mad at anyone today:)

Russ

[jadebox]

Carl - Arrogant - OK.

Angry at the world? You obviously don't know me. I'm being very realistic. I do the math and THEN determine if the business will be a go. If not then I look for a cheaper site and redo the math to make sure I still get the same foot traffic etc.

Angry at the world? You may never meet a more positive upbeat person than me. Maybe we can meet when I get down there and we'll share a drink and a laugh at this.

And besides it's my birthday, I can't be mad at anyone today:)

Happy Birthday Russ!!!!!
I agree with you. I wonder about the quote of the rent but it could be. If you have what the people want they will come AND spend their money.

Russ

[Shirleevee]

Happy Birthday!

[Donna]

Russ....


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[wxradio]

Good service, good food and a fair price and you've got it made! That's why Whiskey Creek is gone (instant mashed potatoes? Gimme a break)....and Bone Fish Grill has a crowd every night...even in the summer

[carlent]

Happy Birthday Russ

I wil take you up on that drink for sure !!! I will be down Dec through March. We will get together. I too, am a very upbeat and positive person and just would like to see all of TV residents able to play on a level field.

Carlent

[carlent]

Gracie

Chain discounts have nothing what so ever to do with their success or lack of it. We have a small Mom and Pop restaurant and our discounts with the same vendor's are only about 3% off what the big boys get. That is not the reason. check out the startups and then the one's that have closed. The big boys are closing at a rapid rate! I still say it is the rent per sq food that is killing everyone. The turnover is obscene.

Bu the way Russ and Gracie and all of you fine TOTV folks....check out this web site and you can see Michelle and I in the upper right hand corner of our site www.downtownmarketgrille.com


Carlent

[Shirleevee]

Nice restaurant....however, I couldn't find you in the picture

[maxine8]

carlent - you call your place a "mom and pop" business... but its adorable! I LOVE IT

Your business is exactly what we need in TV land... a place to eat REAL food and have a quaint atmosphere...

GOOD luck with your future plans!

[Village Kid 2]

Carlent, Your restaurant looks very inviting indeed. My preference is always Mom and Pop restaurants over the chain restaurants and I do miss that in TV. Perhaps one of the reasons is that the landlords only want to deal with well established businesses, rent issue aside. A friend who is a a very good businessman inquired about space in LSL for a retail store. The landlord asked whether he had ever had a store before and when the answer was no, the landlord told him they were not interested in even talking further. So it seems only the Big Boys are going to be in TV. There are several Mom and Pop restaurants along 441 that seem to do well but not in TV.

If I'm ever in NH on my wanderings, I'll be sure to stop by your restaurant.

And RUSS, Happy Birthday, guy!!!!

VK2

[Sidney Lanier]

Russ: HAPPY BIRTHDAY!!!

And you're right, Russ, in terms of economics. Potential businesses have to do their market research and know what they're doing. Sure, many of us grew up in a time when everything 'in the neighborhood' was mom & pop and one traveled 'downtown' to go to, say, a major department store (don't want to mention names; don't want to be accused of advertising...). Small town America (where we live in rural NY) still lends itself to this type of business; our nearest market town has been successful for years now keeping out all major chains in the downtown area with the exception of a well-known coffee chain that was allowed in only because a bookstore of long (forever?) standing wanted it in its own space.

Carlent, your place in NH looks exactly like that--a small town with locally owned businesses (presumably others besides your restaurant). TV doesn't seem to lend itself to small town mom & pop business, sadly; this is reality, not judgment or arrogance. There is what I believe to be a privately owned Italian restaurant in the Publix plaza on 466 which we patronize often; otherwise, for other small places like this, we have to get into the car and drive, not necessarily very far, but no golf cart because they're not part of TV commercial property. It's the way it is, and as consumers it's OUR money and hence OUR choice where to spend it.

[Russ_Boston]

Nice place Carl - It may be mom and pop but Wolfeboro & Winnipausaukee are not exactly low rent. Best of luck!

[carlent]

Maxine and Others

thank you for your positive comments and I am glad you took the time to visit our restaurant. Oh by the way, I am in the top right corner with my wife Michelle. The third person is a wooden Chef! LOL
We had an idea that we would open another branch of Downtown Market Grille in TV, but soon found that it was not affordable. Our future plans are to stay right where we are, a small town (7,000) in the Lakes Region of NH. We are wicked busy most all of the time and even in the winter we are full. At some point when we are not willing to do this anymore, we will sell it and perhaps move to TV. I am so sick of the winter that we are renting a house this winter on the historic side from Dec-Mar. i will be there and Michelle will close the restaurant in Dec and spend the month. she will close it again for the last two weeks of Mar and join me then. So I hope to be able to meet all of you this winter. That is why this forum is so important...not only to discuss the issue's, but to actually get to meet those who you talk with here.

Carlent

[Rokinronda]

Russ....


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Wishing you a wondrous day!! PS Thanks Donna