October 2014 - alvers.info

Just a place for my old thoughts

Nearly pulled the pin...
Saturday, 18 October 2014 11:41 pm
(DJ)

I am getting to the pointy end of the setup process where we are getting inspections done and quotes back. We had a rough budget of which I thought I had accounted for worst case scenario on all the pricing. What I have instead is everyone coming back with worst case quotes on everything. From fitout to hydraulics to exhaust to furniture. It is just biting me on the butt the whole way.

This week we discovered that the grease trap for the restaurant needs to be six times larger for me to get a food licence. And these things cost thousands to install. It was a pretty tough afternoon and I honestly was ready to pull the pin. I was ready to roll all the outstanding bills into one account and just go back to cheffing to pay them off... forgetting the restaurant.

Luckily the owner came to my rescue and agreed to take on the upgrade of the grease trap as part of the property improvements. In short I wouldn't have to pay for them directly.

So we are back on...

Now it turns out that the way we were going to finance the restaurant won't work so Deb and I need to go and talk to the banks next week about loaning us some money for the fit out. So this afternoon I need to spend a few hours doing income projections that can satisfy a bank manager. Sigh.

And finally we should have the lease signed by next week I would hope. Obviously I won't be signing it without the bank finance coming through so here are fingers crossed again.


So, where am I up too...
Friday, 3 October 2014 12:29 pm
(DJ)

I wanted to take a minute to write down the sequence of steps that have happened with the restaurant to bring me to this point. This is so that in a few years time when I look back it won't just be a blur.

19th August: I found an advert on the web for an ex-video store in Paddington that looked pretty interesting so I emailed the agent for details. The agent came back to me quickly to say that the property was not available any longer but that he had another one I might be interested in.

20th August: Got an email about 261 Given Tce.

21st August: Inspected 261 and emailed the agent about getting the expression of interest papers. Met Warwick at the same meeting.

22nd August: Got the EoI papers

24th August: Pushed the agent about the property

25th August: Initial papers are agreed

26th August: Inspected the property with David the designer then met with Warwick afterwards to discuss his proposal.

4th September: Entered negotiations with Warwick.

5th September: Paid Warwick's lawyer a deposit against getting the lease drawn up.

8th September: Signed with David and paid the fee proposal so full steam ahead.

23rd September: Deb & I met with Nathan of CKC to up together our equipment list.

29th September: Much email back and forwards between David and myself with inclusion of Nathan at CKC.

2nd October: The first draft of the lease is ready for review. Dropped it into Brooke at Warlow Scott for review.

3rd October: David has sent through his final design documents ready for council submission. Only problem is I still need the extraction ventilation diagrams as well.

And that about brings us up to date. Right now I have to go through a 7 day cooling off period before I can sign the lease. I also need a couple of additional documents from the lawyer and my accountant saying they have explained all the big words to me and told me how silly I am being. Once I have that I can then get the lease back to Warwick and finally secure the property.





Marjorie
Monday, 6 October 2014 2:47 am

Think you need a double Brandy and a quiet sit down after all that..Good luck