Ames Stores To Close Doors

[chuckster]

Originally posted by pilot


Just look at the success of Monterey restaurant in San Souci. I'd say the Mexican chains that didn't move down here completely missed the boat.

The Mexican chains didn't come down here because of the Demos.
You guys and gals have to realize that up to 10% of the sales go to these major chains as a franchise fee/marketing fee.

The same, once again, goes for the major book stores. If you are going to invest $2 million dollars in a book store your sales have to be up there just to pay the note. Thats true with any business.
As far as the rent being high ,,,,,, once again that is not true. You can rent space in these shopping centers from $10.00/foot to $22.00/foot depending on where in the center, what type of store, and which center. The problem for the small business is that the "Big Stores" don't pay that much. If you are an anchor store you can lease space from $0.00/foot maybe up to $6.00/foot
just because you will draw people to the center. Also being the big guy on the block, you can tell the landlord who else can come in to the center and what can be sold. Do you know that Belks doesn't have to pay rent as long as there is not a supermarket in the Wildewood Center. Also other stores get discounted rents until it is filled.
Its nice to wish for a bunch of new "Big" stores to come here and probably some of them will as the demos change. But along with that look for more empty stores from the small businesses that are forced out bt them.
For those of you that want to open a business in St Mary's....do your homework.

 

[Tonio]

Originally posted by chuckster
Do you know that Belks doesn't have to pay rent as long as there is not a supermarket in the Wildewood Center. Also other stores get discounted rents until it is filled.

Interesting. How can the owners of Wildewood Center cut Belk a break without losing their shirts? Wouldn't the whole shopping center be in danger of foreclosure from the banks?

 

[chuckster]

Big chain stores get breaks all the time. They tell the center owners what they are going to pay, what other stores can come in after them and what they can and can't do. It's done so the anchor stores bring in more people so the center can rent space to the smaller stores at a different number. Any small store loves a location near a "Major" store. Believe me, the center owners do not loose money.

 

[SmallTown]

This is a simple case of economics. Strip mall owners have a certain amount of money they feel they should make per square foot for their entire establishment. If they are giving breaks to the larger stores, they must collect extra from the smaller stores to make what they want. They are investors, not charity organizations.

Not all of your "chains" are franchises either. Take for instance the Olive Garden. They are all owned by the corportation, no franchises at all. So you take no franchise fee + instant name recognition + good food + a lot of hungry southern marylanders and you have a winner.

People said we didn't have the demos to support an Outback steakhouse because we had Lone Star and Western steer, along with the local places

 

[chuckster]

Originally posted by SmallTown

So you take no franchise fee + instant name recognition + good food + a lot of hungry southern marylanders and you have a winner.

Gee, wouldn't it be great if it was that simple. Everybody would own a restaurant.
You are right, they don't have a franchise fee but each store has to contribute to a local and national marketing fund plus other development funds.
The point is they are not going to, as of right now, invest $2million plus dollars on a restaurant where the demos don't show the numbers. For now you will have to drive to Waldorf for these restaurants.
Maybe when O Brian Real Estate unloads some of the restaurants such as The Willows, both Alices, The Pier, The Warf etc. the thoughts will change

 

[RoseRed]

Originally posted by chuckster
Maybe when O Brian Real Estate unloads some of the restaurants such as The Willows, both Alices, The Pier, The Warf etc. the thoughts will change

Are they all for sale?

And its The Wharf.

 

[SmallTown]

Originally posted by chuckster


Gee, wouldn't it be great if it was that simple. Everybody would own a restaurant.

Real Estate is one of the few investments that has had positive returns year after year, but not everyone does that either.

Nobody said that owning a restaurant is easy, nor that everyone in this town wants to be a restaurant owner.

 

[Tonio]

chuckster, I appreciate your input on running a local business. Do you know if the demographics used by the chains take Pax NAS into account? I don't know the exact percentage of workers who live outside St. Mary's, but my guess would be as high as 50 percent.

 

[chuckster]

AX was not counted

Originally posted by Tonio
chuckster, I appreciate your input on running a local business. Do you know if the demographics used by the chains take Pax NAS into account? I don't know the exact percentage of workers who live outside St. Mary's, but my guess would be as high as 50 percent.

Not sure what they are using. There are a few different ways that info like this is collected. When I was in the process of getting demos about 3 years ago, they were so far off the mark it was crazy, and PAX was not counted. The primary figures came from the housing in St Marys, age wages etc. Keep in mind that the population of this county is still below 100,000 and that is what they look at.

cariblue, the listings for these restaurants and a bunch of other businesses can be found in the "Business Opportunities and Commercial Real Estate Guide" available at 7-11's, WaWa and other fine stores in your area.

 

[SmallTown]

Chuckster. Out of curiosity, what we you thinking about doing when you looked at the demos a few years ago?

 

[Cracka]

Seems like there are plenty of places to eat and shop down here now,I'd rather see them build a new movie theater with stadium type seating.But I have heard there is some kind of block on such a thing,don't know if that is true or not.

 

[SmallTown]

Originally posted by StarBuck
Wanna hear my revitilization plan for Lex Park? Good! HERE GOES:

Hire every bulldozer in St. Mary's, Calvert and Charles counties. Line them up on Route 5, half south of Great Mills Road the the other half on the north side. Instruct them to put their blades down, proceed forward and don't stop until they hit Route 235.

Are you buy chance running for politcal office? If so, whats your name so i'll know who to vote for??



Thats why I love the city of Charlotte. When it was time to build the new stadium, they found to worst part of town, bull dozed it over and built the arena and a huge parking lot. Finally, good use of the land

 

[SmallTown]

Originally posted by Cracka
Seems like there are plenty of places to eat and shop down here now,I'd rather see them build a new movie theater with stadium type seating.But I have heard there is some kind of block on such a thing,don't know if that is true or not.

Well, we are still lacking with shopping, but we are doing a lot better in terms of places to eat.

We would all love to see a theatre go in here. In all reality, the quality of the theatre in LP should only be used for one of those $2.00 movie houses. With as much money is being made in this county, we need to try and keep as much of it as we can here. Instead, people are always driving to waldorf, bowie, annapolis to see a movie.