I'm going to play devil's advocate here, because someone needs to do it, and I’m hoping to stimulate a discussion because it might be fruitful in illustrating some of the issues involved with business start-ups and shut-downs.
Read the posting and comments here if you’re coming late to the conversation: Treet's Bakery Cafe closes.
As you’ll see in the comments, several people have asked what they might be able to do to keep Treet’s Bakery Café open. Imagine, then, that enough people pledge financial support to enable Treet's to reappear next week.
Does it reappear in the same incarnation?
Does it reappear without a thorough analysis of the plan of operation?
Does it reappear as Treet's even if Teresa somehow isn't involved?
Does it reappear as something different, with a modified concept?
In short, if investors are to be recruited, what questions are they prepared to ask?
Is there a limit to their tolerance for potential answers?
Don't take these questions the wrong way. Rest assured, I'm not trying to be a Scrooge in all this. I had my criticisms, but I like Teresa and I liked Treet’s, and we patronized it as often as practicable.
The ironic thing is that every failed restaurant in history had its fans, its regulars, and the people who liked it very much. However, it still failed. Why? The trick is to determine the reason why the restaurant failed, to avoid mistakes, to refine the product if necessary, and to find a better way of getting the word out.
Or, conversely, if these questions can't be answered, there's little sense in mobilizing to inject life into the project.
What do you think?
What are the questions that you would need answered prior to committing capital to a restaurant operator?