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Wednesday, April 27

Taking Some Time Off

I've been terrible about keeping up the blog lately because I've been a little burned out with the restaurant. I've not taken a single day off. That's about to change. Tomorrow after work my partner and I will travel to Omaha for the Berkshire Hathaway shareholder meeting. I need my annual dose of Warren Buffett to keep me focused. Surprisingly it wasn't too hard to make these arrangements at work - our investor, who usually works a few hours a week, has agreed to fill my shoes.

We will probably close the restaurant anyway. I hate to do this so soon (we've only been open 100 days or so) but we are nowhere near where we need to be in terms of sales. Last week I told my business partner that if all we needed to do was grow sales by 20-30%, I would look at this as a challenge we could tackle. Instead, we need to triple our sales just to break even and pay ourselves a very modest salary. There's no way we can triple our sales, and even if we did I would still only be earning $500 a week.

In more positive news I am making steady progress at paying down my debt. All my tenants have stayed current on their rent for several months which really stabilizes my cash flow. More on this when I post my monthly financial update.

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