June 12, 2017

Ack! A Fly in the Ointment! (#11)

I should have known.

Obviously titling a blog post "I Love It When a Plan Comes Together" is a recipe for disaster. And disaster is indeed trying to make an appearance. Which is exactly why I am writing this blog entry. In an attempt to stave off disaster and "un-curse" myself, I am going to share what is happening with you (and then deliberately NOT knock on wood). That way, I'll have created a recipe for "un-disaster" which should set everything back on track! Sometimes, my genius surprises even me.


Everything this week was moving along swimmingly. Final negotiations of the Purchase and Sales agreement were completed [check]. Creation and registration of LLC completed [check]. Met with landlord and charmed the pants off of him [check]. Had discussion of when I would start working in the existing bar's operations [check]. Funded bank account with a check [check]. Checked in on a Czech [check]. (Okay, one of those was fake.)

First, a little review... Upon purchasing an existing bar/restaurant, one really is purchasing its assets, which consist of only a few things: a liquor license, some kitchen equipment and furniture, dishes and silverware, and the right to assume the existing lease. In essence, one is mostly purchasing an "opportunity" to be in a certain location, because rarely is the same name and concept kept in place. So effectively one is buying a lot of air... the American Dream... God Bless America!



Well, a portion of my "air" hit a snag today. It was terribly deflating (get it.. air... deflating... hah! I'm so punny! Oh, oh, you might say my bubble was burst! Hah! Another one!). The landlord, whose approval I need in order to assume the existing lease, suddenly reversed course and suggested he would rather not amend the lease at all, leaving me with just over a year left on the lease and then the possibility of a major jump in rent. (Insert sound effect, in your mind, of deflating balloon here. Heh-heh, it was a funny sound, right?)

"Oh, dear!" is right! And possibly a mistake on my part. Yikes. We shall see.

So now, it is time to work! I am in the midst of the negotiation to save this particular space. I have high hopes an agreement can be reached - after all, I am extremely reasonable and charming (did I mention that already?). But we are at the precipice! The rubber is meeting the road! And I am very, very close to being at my...  wait for it... WIT'S END!

Stay tuned!

Ofa atu!
-Pete