Why Aren't Restaurants Using All Of Their Space To Serve?

 

It seems like I am talking with more and more commercial and residential property owners and finding out how what they currently have is not being fully utilized. Politics and world events have put some real estate projects on hold. However, it may not take needing to sell or expand to add to your real estate income. 

The solution could be looking more closely at what you have, and what can be done. Recently, I have had a few more investor connections tell me they are looking for value add properties. If you are not currently looking to make an investment, you can still research for value add opportunities which could increase your monthly income without needing a mortgage or refinance to make it happen.

One example is for restaurant and bar owners. During the coming week, I will be attending a networking event at a restaurant which has an outdoor rooftop deck. However, the event is in the Chicago area, and the temperature is expected to be in the upper 40s at the time. Consequently, their entire outdoor space will be closed. Meanwhile, the establishment will pay property tax and maintenance fee for a big space they can only use less than one-third of the year.

As the link below shows, there are solutions readily available to make that rooftop deck available every night of the year. That establishment could be preparing to book corporate gigs and holiday parties for the fourth quarter. For days and nights the rooftop, or beer garden, patio, or outdoor table space, is not booked in advance, they could be serving many more diners and drinkers.

Suppose they could seat 20 people and only average $20 of profit per day/night. That would total $400 per day, $12,000 monthly, and an annual six-figure return. That conservative estimate would bring in one-half million dollars additional revenue over five years. They would do so with an additional property investment or tax increase. 

Maybe my team and I can be “first in” to help you or your clients add value and revenue to your current inventory. Are you ready?

 

http://amazing.firstin.com