Wednesday, September 07, 2011

Short order: Another Business gives Aycock Street a go

You've heard the old mantra: in real estate, you need to worry about three things, location, location and location. With this in mind I was chagrined to read in today's News & Record about Karla and Daniel Paris opening their new venture, Lulu and Bubba's Sweet Shop, in a location where two previous businesses have gone bust in relatively short order.

In theory, the location--being cheek to jowl with UNCG and the massive apartment complexes on the west side of Aycock Street--would seem like a sure winner. The agent who sold the Parises on the benefits of this spot probably had all kinds of charts and graphs hyping the large population living within half a mile--a population of 20-somethings who love sweet things--and the vehicle count on Aycock Street. But I'm also sure he or she glossed over the two huge drawbacks of the location: zero parking and next-to-zero visibility.

The story in the paper portrays the Parises as wide-eyed innocents with next to no experience running a restaurant who optimistically think that they won't fall victim to the statistics of new businesses. It's the American dream, right?

I wish the Parises, well and I hope to heck they got a deal for that space (percentage rent?) but I doubt it. Long about Christmastime when the rent comes due and with the students gone on break they're going to wonder how they talked themselves into this mess. I feel like I should go over there right now and buy a cinnamon bun but I don't know if I'll be able to find a parking place.


Blogger onomatopeyote said...

Well, now I feel bad. They weren't even open for a month before they closed! I wonder what did them in other than what I said in the blog. I'm pretty certain that they made improvements to the store and probably invested their kids' college fund (and borrowed money too.) It's still sad to see someone's dreams go up in smoke and in such a short order.

9:11 AM  

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