We’re still open though, so come on in! I’ve sat down many times to write this post, but couldn’t get a big chunk of time together to get it right. No more excuses, so here it goes!
After 25 years in the restaurant biz Adele and I want to retire. Plus, being 65 I can’t get around too well anymore, so its time to pass the baton. I think we have a pretty great restaurant. Great food and great service. Just look at our reviews on TripAdvisor. When we took over this space it had been a series of restaurants and they all ended up going out of business. Don’t let that scare you. It didn’t scare me! When we opened a restaurant in Chicago that space was also a series of restaurants that went out of business. You gotta have good food! Great food is preferable! And all with good value! Then hit them with outstanding service and they’ll be happy to come back, and keep coming back, for more! Cornville, Az may seem a little remote. Some people think its the middle of nowhere, but I think its the middle of everywhere! We have lots of regular customers from Sedona, Cottonwood, The Village of Oak Creek and, of course, Cornville itself! People come from as far as Prescott, Flagstaff, Phoenix and even Canada! Its a long commute for those Canadians, but whenever they’re in town for vacation, they are sure to stop in. We’ve got a lot of local, regular customers. Tourists are icing on the cake!
Let’s talk numbers for a little bit. Rent is only around $1000 a month. Propane costs around $400 a month, electric $300, phone $100 and then there’s insurance. Your biggest cost is going to be the food and drinks you serve. So its very hard not to make money. We have a full liquor license so we have lots of wine, some beers and quite a collection of premium spirits. The food is classic comfort food with a few twists. Of course, as new owners, you can change anything! Just make sure its good and priced for good value!
I think the best scenario for new owners would be a couple just like me and Adele. I work the kitchen and Adele is front of house being the hostess, bartender and waitress. It could work for an absentee owner, but its very important to find the right people. I can’t imagine a bank paying out more in interest for an $85K investment than this restaurant could make! Oh yes, that’s the price… just $85K. Ramp up the restaurant and you could make that back in one year!