[M_Six]

One of my favorite places in Boston is closing. Touristy place, yeah. But I loved their seafood.

https://www.bostonglobe.com/metro/20...DgM/story.html

[The Libertine]

It’s a shame. Boston landmark with history going back to 1827. That’s prime real estate in Faneuil Hall too. Wonder how much longer Union Oyster House will last?

Sad that one-by-one these establishments are closing. Soon all we’ll be left with is a Chipotle on each street corner.

[1MOREMOD]

Chipotle is the best yo

[CANGRKE70]

That's too bad. Being involved in restaurants for 30 years, there is a fine line to being profitable. Increase in minimum wage, increased rent costs, etc. can kill a restaurant if the owners don't have contingencies in place.

Hopefully the space is not turned into condos/lofts like they are here in Toronto.

[ASAP]

Originally Posted by CANGRKE70

That's too bad. Being involved in restaurants for 30 years, there is a fine line to being profitable. Increase in minimum wage, increased rent costs, etc. can kill a restaurant if the owners don't have contingencies in place.

Hopefully the space is not turned into condos/lofts like they are here in Toronto.

Not an expert on the subject but from the few people that i have talked to; I genuinely don't get why anyone would run a restaurant. It seems like the worst business in the world. It's hard work, you are always working and when everyone is off; you work the most. Then combine that with the failure rate of restaurants and I think restaurants are ran by people that find pleasure from pain.

[CANGRKE70]

Originally Posted by ASAP

Not an expert on the subject but from the few people that i have talked to; I genuinely don't get why anyone would run a restaurant. It seems like the worst business in the world. It's hard work, you are always working and when everyone is off; you work the most. Then combine that with the failure rate of restaurants and I think restaurants are ran by people that find pleasure from pain.

They don't call the restaurant business the "golden handcuffs" for nothing.

Let's put it this way. It's very hard work, but they payoff can be huge if you have the right business sense, quality food, location and leadership in place.

It can also take a toll on family life because of the long hours you work.

My parents could have retired at 55 with the profit they made off the restaurant. They put 2 kids through university with no debt, and bought multiple rental properties all thanks to the restaurant. They also take a week vacation in January to the caribbean and a 2 month vacation back to Greece every summer to unwind. So not so bad.

While I agree that the business is not for people who shy away from hard work, the reward can be enormous.

I'd never do it though as I'm lazy and would rather have a work life balance.