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  1. #176

    Default Re: Restaurant closings

    Quote Originally Posted by Pete View Post
    3sixty is closing New Years Eve.
    Sad to hear that. I know it’s been a tough go though.

  2. #177

    Default Re: Restaurant closings

    1/14/20:

    Buttermilk Sliders
    Maples

  3. #178

    Default Re: Restaurant closings

    Quote Originally Posted by chuck5815 View Post
    Well, that definitely makes sense—but OKC has far more Fatties per capita than Denver too, and the Fast Food guys are well aware of that fact. But the bigger point is that an outsize share of folks with capital think they can make a restaurant work in OKC. One of my neighbors is a good example. Guy is a doctor with a very successful practice, and he decides to open a new cajun restaurant in the city. I told him, “Hey, dude, you’re going to lose your ass on this deal.” And he opened it anyway. From what I hear, business has been absolutely terrible and they aren’t even close to making the thing cash flow. They even resorted to Groupons, it is so bad. So yea, I think there are a large number of wealthy folks seeking to diversify away from an expensive stock market by lighting big barrels of money on fire in the restaurant business. A bunch of regular Hal Smiths, if you will.
    This. The metro can support more new restaurants. I don't think we are anywhere close to critical mass. I'm not involved in the business, but I do seem to remember someone who was saying that you needed enough cash or credit to run in the red for at least 2 years. Seems like many of these places aren't even lasting 6 months.

  4. #179

    Default Re: Restaurant closings

    I still regret never getting over to Maples. Oh well.

  5. #180

    Default Re: Restaurant closings

    Quote Originally Posted by Edmond Hausfrau View Post
    This. The metro can support more new restaurants. I don't think we are anywhere close to critical mass. I'm not involved in the business, but I do seem to remember someone who was saying that you needed enough cash or credit to run in the red for at least 2 years. Seems like many of these places aren't even lasting 6 months.
    We're near saturation because owners find it increasingly difficult to hire good employees. Your two year cash reserve methodology is also incorrect - working capital is never as simple as "X months" or "Y years."

  6. Default Re: Restaurant closings

    Quote Originally Posted by Pete View Post
    1/14/20:

    Buttermilk Sliders
    This is perfect timing, we went Saturday and the food was crap, decided to never go there again, it had been going downhill each time we went. Shame about Maples, though.

  7. #182

    Default Re: Restaurant closings

    Quote Originally Posted by CloudDeckMedia View Post
    We're near saturation because owners find it increasingly difficult to hire good employees. Your two year cash reserve methodology is also incorrect - working capital is never as simple as "X months" or "Y years."
    That's a valid point. Lack of good employees can certainly derail an industry.

  8. #183

    Default Re: Restaurant closings

    Think about putting in hundreds of thousands if not millions then relying on staff that can be very hard to recruit and maintain.

    One of my restaurant friends says, "We audition every 10 minutes. And it's always done by someone I have to trust to represent me personally".

    In the end, the success of any place is probably more on the front of the house than the back (chef/prep/etc).

  9. Default Re: Restaurant closings

    Quote Originally Posted by Pete View Post
    Think about putting in hundreds of thousands if not millions then relying on staff that can be very hard to recruit and maintain.

    One of my restaurant friends says, "We audition every 10 minutes. And it's always done by someone I have to trust to represent me personally".

    In the end, the success of any place is probably more on the front of the house than the back (chef/prep/etc).
    I'd agree with this. If you have great food and bad service, I probably won't go back, but if your food is just pretty good/decent, but the service is excellent, I'll be back (hoping for improvement of the food next time, of course ). Of course, great food *and* service is the home run, but there aren't tons of places that get to that level.

  10. #185

    Default Re: Restaurant closings

    Quote Originally Posted by TheTravellers View Post
    I'd agree with this. If you have great food and bad service, I probably won't go back, but if your food is just pretty good/decent, but the service is excellent, I'll be back (hoping for improvement of the food next time, of course ). Of course, great food *and* service is the home run, but there aren't tons of places that get to that level.
    Having had someone move up here in the service industry from the Dallas area it's been eye popping in terms of seeing how some of these people handle personnel. Everything from keeping 3 times as many people as needed on staff and cutting people frequently to promising certain hours to get someone on board and then the reality being starkly different. Granted it's a bit limited but if this is any sort of indicative of the industry as a whole in OKC, it's a wonder any place manages to maintain good service. I swear every time I hear a story about food service staff it makes me wonder why these managers don't all go grab some HR/staffing training because oftentimes it seems they're shooting themselves in the foot.

  11. Default Re: Restaurant closings

    ^^^ Yep, as chuck5815 said, there are folks getting into the restaurant business that don't have the experience and/or training to do it right. Dunno why so many places/people in OKC think they're the first ones to ever do things and can't go outside of their own heads to get training/education/help/knowledge (streets, crosswalk paint, Skydance Bridge planking, P180, restaurant staffing, restaurant cooking, retail sales in almost any sector). Having said that, yes, there are lots that do it right, and those are the places we try to patronize.

  12. #187

    Default Re: Restaurant closings

    I disagree that the metro is not near saturation. The good:OKC continues to introduce a greater number of 3-4 star level culinary options however the number of patrons with the disposable income to frequent them IS NOT keeping up. Job and population growth is OK, but salaries and numbers of patrons is IMO steady state in those two areas.

  13. #188

    Default Re: Restaurant closings

    Quote Originally Posted by Pete View Post
    1/14/20:

    Buttermilk Sliders
    Maples
    Might have a little something to do with....Farmer's Bank.

  14. #189

    Default Re: Restaurant closings

    Quote Originally Posted by dcsooner View Post
    I disagree that the metro is not near saturation. The good:OKC continues to introduce a greater number of 3-4 star level culinary options however the number of patrons with the disposable income to frequent them IS NOT keeping up. Job and population growth is OK, but salaries and numbers of patrons is IMO steady state in those two areas.
    Median earnings are up over the past 8 years in OKC. And people eat out more nowadays. The price points for the various restaurants are a different issue, but OKC has plenty of growth room for more dining options.
    Remember when restaurants used to be closed on Sunday and Monday? Nobody has time for that anymore.

  15. #190

    Default Re: Restaurant closings

    Certainly hope you are right because I thoroughly enjoyed the number of quality dining options available in the city during my visit a couple months ago. OKC black eats has done a fabulous job showcasing SOME of the culinary talent in OKC. I hope these and other outstanding Chefs are supported. Having a top quality food scene goes along way in selling a city to visitors.

  16. #191

    Default Re: Restaurant closings

    Simply the maturation of our dining scene, whereby there is lots more competition and only the strong will survive.

    It sucks for the people who have to close down, but the quality of dining in OKC has gone up quite a bit in just the last few years, and that's across the board from high-end to fast casual and bars.

    All these trends will continue for some time and I've said all the way along that shakeout is coming. And at the same time, there are still a bunch of new places in the queue.

  17. Default Re: Restaurant closings

    Poke Loco on north Penn has closed

  18. #193

    Default Re: Restaurant closings

    Yeah Poke Loco (sp?) has been closed for several weeks.

  19. #194

    Default Re: Restaurant closings

    Smokey's Midnight Express on Coltrane is closed. They were the ones doing 7pm to 2am delivery or carryout. A marijuana dispensary went in next door to them, which I figured could only help them. Maybe they were too far away from any universities. College students love late night snacking.

  20. #195

    Default Re: Restaurant closings

    Quote Originally Posted by Edmond Hausfrau View Post
    Smokey's Midnight Express on Coltrane is closed. They were the ones doing 7pm to 2am delivery or carryout. A marijuana dispensary went in next door to them, which I figured could only help them. Maybe they were too far away from any universities. College students love late night snacking.
    This was an interesting concept, and the reviews seemed good, but just what an absolutely baffling location for what they were offering.

  21. #196

    Default Re: Restaurant closings

    Ur/bun has been closed for a few weeks.

    Hunny Bunny is expanding into their space.

  22. #197
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    Default Re: Restaurant closings

    Republic in Chisholm Creek closed last night it appears.

  23. #198

    Default Re: Restaurant closings

    ^

    Yes, I can confirm this.

  24. #199

    Default Re: Restaurant closings

    Quote Originally Posted by okatty View Post
    Republic in Chisholm Creek closed last night it appears.
    Republic Gastropub, the same guys at Classen Curve?

  25. #200

    Default Re: Restaurant closings


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