Comments on: 11th and Park – Watch

By: MarketWatcher

MarketWatcher — Mon, 15 Jun 2009 12:36:51 +0000

I just stumbled upon this thread while looking for some contact info for the owners of Social. I have heard that they might need some financial infusion and want to get involved in that! Can anyone point me in the right direction? For everyone’s knowledge, this type of thing is completely customary in the restaurant business. They can be great investments if the concept and the quality is spot on.

By: Fonzy

Fonzy — Tue, 02 Jun 2009 15:47:51 +0000

Folks, unless you are the owner, you don’t know your ass from your elbow.

By: zt

zt — Tue, 02 Jun 2009 15:01:54 +0000

“Adams Morgan”: Have you seen the books? A place being full doesn’t necessarily mean it’s profitable. Unless you have some knowledge of the cost structure, debt leverage, etc then you can’t be sure it’s throwing off lots of cash or even breaking even.

By: Binklesworth

Binklesworth — Tue, 02 Jun 2009 13:21:27 +0000

Agree that this is standard practice to solicit investors and I know it’ll be a success once it opens. Can’t frickin’ wait.
I would certainly invest if I had the dough. So I’m having to contribute the old fashion way by patronizing the other establishments – perhaps a little too much last night. Oww.

By: alaaro

alaaro — Tue, 02 Jun 2009 12:13:54 +0000

Room 11 solicited investors before they began construction. Founding Farmers (hugely popular restaurant in Foggy Bottom) is soliciting multiple investors ($200K minimum investment per person) to open a new location elsewhere in DC. This is standard practice.

By: Adams Morgan

Adams Morgan — Mon, 01 Jun 2009 21:56:32 +0000

Thor, you would be wrong to assume that his other business isn’t doing well. It’s doing quite well actually.

By: Trubs

Trubs — Mon, 01 Jun 2009 21:50:10 +0000

How about instead of investing capital, us locals volunteer some labor hours. Seems like a lot of us may be renovating our own homes and therefore have some knowledge (if not opinions). We could paint, tile, roof, etc. Then when the project is done we can go there and enjoy the few square feet of our personal handy work.

By: Anonymous

Anonymous — Mon, 01 Jun 2009 20:30:35 +0000

Yeah, not sure I share everyone’s doom and gloomism. It’s pretty standard to look for a syndicate of small investors for a venture like this. The more equity you have, the easier/cheaper it is to get bank or small business financing. SBA loans are now a good way to go thanks to the stimulus- the folks behind Cork received $1 million for their new “market” venture across the street from their current location.

By: avoid schadenfreude

avoid schadenfreude — Mon, 01 Jun 2009 20:23:32 +0000

I am so excited about this project. That spot has so much potential. Have you noticed how busy Red Rocks always is? Meridian Pint is going to do very well. I see great things for the whole strip starting at Wonderland and going all the way up past Columbia Heights Coffee. If I weren’t already going to use the cash I have sitting around to renovate my house (which is also in the neighborhood), then I would definitely want to get in on this investment. This neighborhood is going places!

By: Thor

Thor — Mon, 01 Jun 2009 20:18:55 +0000

Yeah, it does sound like he is in trouble. If he has other businesses and they’re profitable why can’t he use the cash to support this new venture? I would suspect he is losing money on those other businesses, this current project is taking longer/costing more than planned, can’t get a loan therefore he is looking for investors.