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Started By
Message
re: Popular NOLA Restaurant can't survive a two week closure
Posted on 12/17/24 at 1:18 pm to LSUFanHouston
Posted on 12/17/24 at 1:18 pm to LSUFanHouston
Business interruption insurance. 
You ever tried to file one of these claims….
I guess you enjoy the wonderful business acumen of the corporate dining experience because it’s fricking hard running a restaurant when you don’t have loads of capital. shite happens and 2 weeks during a busy time can meek a tremendous difference.
You ever tried to file one of these claims…. I guess you enjoy the wonderful business acumen of the corporate dining experience because it’s fricking hard running a restaurant when you don’t have loads of capital. shite happens and 2 weeks during a busy time can meek a tremendous difference.
1
Posted on 12/17/24 at 1:27 pm to LSUFanHouston
quote:
This place has been open 8 years and can't survive two weeks of closure?
I've eaten there once. Pretty good food, and I enjoyed it. However, I have walked by 1000 times. They never seem very busy. Seems like they are trying to prop up a damage claim.
Posted on 12/17/24 at 1:32 pm to rowbear1922
quote:
I liked Maypop when I lived in Nola. Would be sad to see it go
One of my favorites. Never had a bad meal there.
Posted on 12/17/24 at 1:56 pm to JohnnyKilroy
quote:
If you've been continuously operating for 8 years and two weeks is all it takes to wipe you out, you have objectively HORRIBLE asset management.
Nearly all restaurants are struggling right now. Yes prices are going up, but that's because their cost basis has gone up too. Overhead in restaurants is huge. It's arguably the most difficult business to both start-up and also to stay afloat. Restaurants around here come and go all the time.
Posted on 12/17/24 at 2:01 pm to LSUFanHouston
They just had the T Swift bump and a Super Bowl coming and they can’t figure it out? They suck at running a business.
Posted on 12/17/24 at 2:02 pm to LSUFanHouston
Restaurants have a frick ton of overhead.
Alcohol is what makes them profit
Alcohol is what makes them profit
Posted on 12/17/24 at 2:52 pm to BiggerBear
quote:
quote:
Popular NOLA Restaurant
This reads like clickbait. Just say who it is.
My bad dog... I thought what I copy and pasted had the name.
I edited OP.
Posted on 12/17/24 at 2:54 pm to Fat and Happy
quote:
Restaurants have a frick ton of overhead.
Rent, utilities, depreciation... no more than any other type of business.
From my experience, what hurts them is not overhead but rather an inability to control labor and product costs.
Posted on 12/17/24 at 2:57 pm to magildachunks
quote:
What is your experience?
Or are you talking out of your arse?
I've done books / taxes for probably close to 100 dining establishments of various types.
Most have failed.
Why? Because restaurants suffer from the same problem as schools.
In schools, principals and district staff up to superintendents are often teachers who are promoted. But what makes one a good teacher, does not make one a good principal, etc.
In the restaurant game, what makes one a good chef, is not the same skills that it takes to run a restaurant. But many chefs are too proud to hire a business manager.
Posted on 12/17/24 at 2:58 pm to JohnnyKilroy
quote:
If you've been continuously operating for 8 years and two weeks is all it takes to wipe you out, you have objectively HORRIBLE asset management.
This
I can understand a place that's only been open for a few months... maybe even a year or two.
8 years? Come on. If after 8 years you are barely breaking even something is very wrong.
Posted on 12/17/24 at 2:59 pm to Y.A. Tittle
quote:
This is likely just fodder for that.
Possible
Or maybe they are having other issues and this is their excuse.
Posted on 12/17/24 at 3:11 pm to LSUFanHouston
Business interruption insurance may not cover it. You typically have to have damage to the structure you are in. If not and it's due to civil authority, you have limited coverage but I think you may still have to have a covered cause of loss to the other structure, and without seeing that policy I can't be certain.
Posted on 12/17/24 at 3:37 pm to LegendInMyMind
Rent is the enemy of restaurants.
get more successful and the rent grows right along with ya.
This though is the more common problem.
get more successful and the rent grows right along with ya.
quote:
From my experience, what hurts them is not overhead but rather an inability to control labor and product costs.
This though is the more common problem.
This post was edited on 12/17/24 at 3:39 pm
Posted on 12/17/24 at 3:51 pm to Duke
Channel 8 had this which indicates the restaurant isn't in danger unless the collapsing building goes flat.
quote:
Holmes said the building across the street that houses the Maypop restaurant and the Paramount Apartments, as well as the Civic Theater next door on O’Keefe, were in the danger zone until the building is mitigated.
Posted on 12/17/24 at 5:04 pm to LSUFanHouston
It's not a restaurant built on a ton of old family money. He owns several restaurants and my guess is the margins for this particular one are pretty tight and it's not tremendously profitable. Also, these are literally two of the biggest weeks of the years for bars and restaurants and if they were limping along to begin with hoping to make it here and to the Super Bowl, a closure during that time probably would make it not worth it to continue on. He's also probably trying to fluff it up to get the city to act or property owner to act quicker.
Posted on 12/17/24 at 5:46 pm to LSUFanHouston
quote:
My experience has been that restaurants are pretty terrible businesses, run by people who have no idea how to run a business, and this seems like more proof
Then don't ever go to one again..I bet you think it is just food and labor. Two weeks without sales is not nothing. Keep in mind Maypop made it through covid
Posted on 12/17/24 at 5:53 pm to LSUFanHouston
quote:
If I can get open this week, we’ll pull money out of our savings and do it,
Do they not have an operating line of credit or anything? Who uses personal funds to run a business. Unless they are almost maxed out on credit and would have to pay it down by injecting cash from savings, but if they’re in a bind that bad they might as well try to keep going by seeing if they can get more credit, cause the bank will take those savings regardless when they shut down
Posted on 12/17/24 at 6:02 pm to deltaland
I think you are parsing words trying to get to the same conclusion.
Posted on 12/17/24 at 6:27 pm to deltaland
May pop has been there for a long time. It is very rarely crowded. I worked near it for several years. Pre-Covid it had decent lunch crowds. But post Covid it seems to always be empty.
Biggest issue is the food is just meh, sorry Michael. I’m honestly surprised it’s still open.
Biggest issue is the food is just meh, sorry Michael. I’m honestly surprised it’s still open.
Posted on 12/17/24 at 6:41 pm to LSUFanHouston
This sounds more like an excuse to blame something else as the reason they closed shop. 8 years of opening is more than enough to have a 2 week buffer.
Regarding rent: If they've been a stable tenant for this long, there is no way the building owner would rather the place be vacated for a long time just to eventually lease it to a risky and potentially unstable tenant. Something could be worked out.
Regarding rent: If they've been a stable tenant for this long, there is no way the building owner would rather the place be vacated for a long time just to eventually lease it to a risky and potentially unstable tenant. Something could be worked out.
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