RE: My exams are over!
I honestly thought they were joking :) But as they looked serious I understood that I really passed :)
I'm trying to get a place for the restaurant. I am in a discussion with a real estate agent for almost a month now but I feel like the owner doesn't even want to rent out the place as he is not co-operating at all. That place is in a very bad condition and requires large reconstruction but we can't agree on splitting the costs. He somehow doesn't get that the reconstruction will add value to his property and hence he should be at least a little bit flexible.
He believes that the place can be used like a restaurant without any large reconstruction but this is not true. It looks horrible and people will simply not come to such place as they would not feel good. It's on the market for almost a year and now I understand why. I guess everyone who tried to come into an agreement with the owner had a similar experience..
I'm at the point when I fear that I will have to start to look for a new place because I worry how it would be when I would take it and our co-operation would be like this all the time..
Well @delishtreats ...
... that doesn't sound encouraging. Having now passed the State test and gained their confirmation of your suitability to be a restaurant owner, now back to "real life" ...
Not an expert by any means, but I have long heard the oft-repeated "wisdom" that the 3 most important things in a retail business (of any kind, restaurant or otherwise ...) are "location, location, and ... ... location." At least that is so here in America.
Given human nature though, I would assume that would be true most anywhere ... The value proposition offered offset by the convenience of benefiting from the service offered ...
Given your assessment this particular property offers the best potential for the success of your new venture, have you considered buying it outright? That would solve the problem of having to obtain the owner's support. But would open you up to a much greater initial capital outlay and risk ...
Well, my dear Steemian friend, looking forward to future installments on your "new adventure!" 😊
I am still considering this place as I believe in its potential but I'm not going to go through more issues. If it continues then I'm out of the deal.. I will rather wait for another one as I also believe that the location is truly important for the success. Well, it's not possible to buy the building as there are 3 additional floors with apartments and I think that the price would be around 5 Mio :) In Switzerland you have to have 20% of the price cash to get the mortgage :) I'm sure you can guess that I don't have this much :)
I hope that you're doing well. I didn't have time to check any posts yet but I will try to catch up on yours this week :)
Good morning @delishtreats. I am way behind in my Steem "engagement," so taking a break from my responsibilities to catch up a bit ...
Your struggles with this property owner are discouraging I would imagine, but it sounds like you approach it with a good attitude. If you do not feel comfortable with the negotiations now, you are wise to "walk away" rather than make a decision you will live to regret.
Fascinating you have to have 20% of the price to get a mortgage! That sounds like enforcement of "sound money" principles are very important in your country. I wish I could say the same about America, but I cannot. All I can do is practice them myself (I owe no man anything ...) and watch in frustration (to put it mildly) while our country engages in the devaluation of its currency, along with much of the rest of the world.
This debasement of our currencies will not end well, I predict. I would love to be proven wrong, but I fear the worse. If so, perhaps a "sound money haven" like the country of Switzerland will be spared the worst of it (think Venezuela ...).
Looking forward to "future installments" on your efforts to achieve your dream and get your restaurant up and running!