I played on a regular foursome for 25 years with the largest franchise operator they have. He told me 5 plus years ago that they were projecting going over 100,000,000 for the first time that year. He is really down with all his restaurants closed. That’s 2 mil a week lost sales. I suspect he’s overrated and who could blame him but he said his worst nightmare was that their model may no longer work. But that self service and all food out could be losing a lot of appeal in these times.
My son lives on the Outer Banks and has a seasonal business Kitty Hawk Kayaks and owns a fair amount of commercial real estate including an historic inn. The inn is closed because as an abundance of caution they aren’t aren’t allowing people to enter over the bridge. I own a cottage there and can’t even get in. He had a lot of booking that just evaporated when people weren’t allowed in and Easter is a big time for them. It’s a pretty hard pill to swallow IMO when the city that is shutting your business down still has its hands out for 10s of thousands of dollars in real estate taxes from that business.
Just about everyone is taking a hit but certain businesses like the afore mentioned are getting killed through no fault of their own and governmental decisions. I am not faulting government levels for shutting things down for what they think are prudent measures to protect people. But it’s really tough on some segments.
Got a letter from a tenant of mine in an office building asking for rent abatement. I sympathize with him and will work with my tenants as best I can and told him so but I don’t even know what help that company and the other tenants might get from the government... BTW the mortgage company wants their payment from me, so does the city with its real estate taxes and other fees, so does the electric company... It’s a complicated problem. Let’s hope some of theses improved projections materialize quickly.
My son lives on the Outer Banks and has a seasonal business Kitty Hawk Kayaks and owns a fair amount of commercial real estate including an historic inn. The inn is closed because as an abundance of caution they aren’t aren’t allowing people to enter over the bridge. I own a cottage there and can’t even get in. He had a lot of booking that just evaporated when people weren’t allowed in and Easter is a big time for them. It’s a pretty hard pill to swallow IMO when the city that is shutting your business down still has its hands out for 10s of thousands of dollars in real estate taxes from that business.
Just about everyone is taking a hit but certain businesses like the afore mentioned are getting killed through no fault of their own and governmental decisions. I am not faulting government levels for shutting things down for what they think are prudent measures to protect people. But it’s really tough on some segments.
Got a letter from a tenant of mine in an office building asking for rent abatement. I sympathize with him and will work with my tenants as best I can and told him so but I don’t even know what help that company and the other tenants might get from the government... BTW the mortgage company wants their payment from me, so does the city with its real estate taxes and other fees, so does the electric company... It’s a complicated problem. Let’s hope some of theses improved projections materialize quickly.
