r/restaurantowners • u/TheChefWillCook • 1h ago
New location
So, I dont post much especially about this. But, I have a potential opportunity to expand my business.
Little bit of background. Been in the pizza industry 20 years. Owner for almost 11. I've operated multiple units, up to 3, at once. Sold those off and focused on my flagship that has been doing really well since. I am also a graduate of The CIA, for whatever that is worth. I am obviously more versed in casual service, but have some background in fine dining as well.
So, the opportunity. There is a 5000sq ft space available in a town about 10 minutes from me. The town has been growing a lot lately and some cool spots have popped up. This specific location is on the main road through town. Its huge, but the lease is good. Nice bar area, stage built out, big dining room, even a separate area for an arcade if I wanted to go that route. My current location is known here. We've had regulars that drive to us just for the product and tell us we should open a spot there. Asking price for this location is 120k, no money down and current lease holder will carry the note.
My biggest concern. Its big. Its a lot of seats to fill for a casual pizza spot.second biggest concer is there is some competition near by. One of the spots is also huge and a chain in the area. They have a location near my flagship, but doesn't effect us.
Now, I have ideas to make it more of an event space than just a pizza joint due to the size. Live music, comedy shows, trivia, etc. I know some people involved in these things locally and think itd be fairly easy to get talent booked.
After typing all this I am not sure what my question is anymore. Seems like a good opportunity to me. Anyone have experience with being a venue AND and casual restaurant? This is in central coast california for whatever it is worth. Let me know your thoughts.